TORONTO, March 12, 2021 /CNW/ - Franklin Templeton Canada today announced the proposed merger of Templeton Global Bond Fund (Hedged) into Templeton Global Bond Fund, which will be voted on at a special meeting of investors on or around June 11, 2021 in Toronto, Ontario.
New hedged series A, F, O, PA and PF will be added to Templeton Global Bond Fund on or around June 25, 2021 so that investors will continue to have access to currency hedging in this strategy. The management and administration fees for the new hedged series of Templeton Global Bond Fund will be identical to those of the existing corresponding series of Templeton Global Bond Fund (Hedged).
Pending regulatory and investor approvals, the implementation of the taxable merger of Templeton Global Bond Fund (Hedged) into Templeton Global Bond Fund will proceed. As such, units of series A, F, O, PA and PF of Templeton Global Bond Fund (Hedged) will be exchanged for units of the new corresponding hedged series of Templeton Global Bond Fund after the close of business on June 25, 2021. Series I – a commission-based series with a minimum investment of $100,000 that is currently capped to all investments – of Templeton Global Bond Fund (Hedged) will be terminated after the close of business on June 4, 2021.
Due to the pandemic, investors are strongly encouraged to exercise their right to vote before the proxy deadline, as attendance at the in-person meeting will be limited in order to comply with social distancing protocols.
In advance of this meeting, documents with full details of the proposed merger will be available on Franklin Templeton's website. 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 8 p.m. EST at 1-800-387-0830 or [email protected].
The Independent Review Committee of the funds has reviewed the proposed merger and determined that the merger, if implemented, will achieve a fair and reasonable result for Templeton Global Bond Fund (Hedged). All costs and expenses associated with the merger, including the meeting costs, will be borne by the manager and not charged to the funds. No commissions or other fees will be charged to investors for the exchange of units of Templeton Global Bond Fund (Hedged) for units of Templeton Global Bond Fund.
About Franklin Templeton
Franklin Templeton Investments Corp. (also known as Franklin Templeton Canada) is a subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. 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 brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and approximately US$1.5 trillion (approximately CA$1.9 trillion) in assets under management as of February 28, 2021. For more information, please visit franklintempleton.ca and connect with Franklin Templeton on Twitter, Facebook and LinkedIn, and read the Beyond Bulls & Bears blog.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
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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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