TORONTO, Dec. 19, 2022 /CNW/ - Franklin Templeton Canada today announced the completion of the merger of Franklin U.S. Investment Grade Corporate Bond Active ETF (CAD-Hedged) (FLUI) into Franklin Western Asset Core Plus Bond Active ETF (FWCP).
On December 16, 2022, units of FLUI were exchanged for units of FWCP on a taxable basis at the exchange ratio stated below:
ETF Name |
Ticker |
Exchange |
Franklin Western Asset Core Plus Bond Active ETF |
FWCP |
1.049822 |
The number of units of FWCP received by a unitholder of FLUI was determined by multiplying the number of units of FLUI held by that unitholder by the exchange ratio (which equaled the NAV per unit of FLUI on December 16, 2022, divided by the NAV per unit of FWCP on December 16, 2022) and rounding the result to the nearest whole number.
At the close of business on December 16, 2022, FLUI was delisted from the Toronto Stock Exchange.
Final Distributions
On December 16, 2022, unitholders of record of both the terminating ETF and the continuing ETF, received the final notional distribution (in Canadian dollars) as stated below:
ETF Name |
Ticker |
Final Notional |
||
Franklin U.S. Investment Grade Corporate Bond Active ETF (CAD-Hedged) |
FLUI |
0.121954 |
||
Franklin Western Asset Core Plus Bond Active ETF |
FWCP |
0.100016 |
||
The notional reinvested distributions, as applicable, will not be paid in cash but reinvested in additional units and reported as taxable distributions, with a corresponding increase in each unitholder's adjusted cost base of their units of the respective ETF. The additional ETF units will be immediately consolidated so that the number of units held by the unitholder, the outstanding units and the net asset value of the ETFs will not change as a result of the reinvested distribution.
Investors are encouraged to speak to their financial advisor about these changes. Franklin Templeton's client service team is also available between 8 a.m. and 6 p.m. EST at 1-800-387-0830 or [email protected].
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. In Canada, the company's subsidiary is Franklin Templeton Investments Corp., which operates as Franklin Templeton Canada. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 75 years of investment experience and approximately US$1.4 trillion (approximately CAN$1.9 trillion) in assets under management as of November 30, 2022. For more information, please visit franklintempleton.ca and connect with Franklin Templeton on Twitter, Facebook and LinkedIn, and read the Beyond Bulls & Bears blog.
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SOURCE Franklin Templeton Investments Corp.
Media Contact, Sarah Kingdon, Corporate Communications, Franklin Templeton, 416-957-6191, [email protected]
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