TORONTO, Dec. 3, 2014 /CNW/ - Franklin Templeton Investments Corp. today announced proposed mergers to streamline its Canadian fund line-up. The proposed mergers of Templeton Canadian Stock Fund, Templeton Canadian Stock Corporate Class and Templeton Canadian Balanced Fund into designated Franklin Bissett funds will be voted on at special meetings of securityholders to be held on or around February 27, 2015 in Toronto.
The proposed mergers include:
Terminating Funds |
Continuing Funds |
Templeton Canadian Stock Fund |
Franklin Bissett Canadian Equity Fund |
Templeton Canadian Stock Corporate Class |
Franklin Bissett Canadian Equity Corporate Class |
Templeton Canadian Balanced Fund |
Franklin Bissett Canadian Balanced Fund |
Founded in 1982, Calgary-based Franklin Bissett Investment Management, the portfolio manager of the continuing funds, has a deep bench of 22 experienced investment professionals who are dedicated to investing in Canada's equity and fixed income markets.
Franklin Bissett Canadian Equity Funds
The C$2.7 billion Franklin Bissett Canadian Equity and Franklin Bissett Canadian Equity Corporate Class funds are co-managed by Garey Aitken, CIO, and Tim Caulfield, director of Equity Research, for Franklin Bissett Investment Management. The funds' managers employ a disciplined growth-at-a-reasonable-price (GARP) investment style to deliver strong absolute, relative and risk-adjusted returns over time. Representing a pure and true complement to global holdings, the funds exclusively invest in Canadian equities.
Franklin Bissett Canadian Equity Corporate Class is part of Franklin Templeton's Corporate Class structure, which allows investors to switch between funds and portfolios while deferring any taxable dispositions until they redeem from the structure.
Franklin Bissett Canadian Balanced Fund
With more than C$1 billion in assets under management, Franklin Bissett Canadian Balanced Fund is co-managed by Garey Aitken, CIO, and Tom O'Gorman, director of Fixed Income, for Franklin Bissett Investment Management. The fund seeks a balance of current income and long-term capital appreciation by investing primarily in a portfolio of Franklin Bissett funds to achieve a balance of equity and fixed income investments. Franklin Bissett Canadian Balanced Fund provides clients access to diversification across asset classes, market capitalization and geographic regions, while helping to mitigate risk and seeking to maximize returns over time.
All of the continuing funds have better historical performance than the terminating funds, along with lower fees.
Proposed Mergers
Securityholders can switch to a different fund or redeem their holdings in the terminating funds on or prior to the close of business on March 12, 2015. If the mergers are approved, at the close of business on or around March 13, 2015, any remaining securityholders of the terminating funds will have their holdings transferred to the continuing fund on a series-by-series, dollar-for-dollar basis. Each of the proposed mergers will be executed on a tax-deferred basis.
Securityholders will be notified of the proposed mergers in an information circular and proxy, which will be mailed in late January 2015.
Investors are encouraged to speak with their financial advisor about these changes and review their options. For account information, Franklin Templeton's client services team can be reached between 8 a.m. and 8 p.m. ET at 1.800.387.0830 (toll-free). Please visit franklintempleton.ca for more information on Franklin Templeton's mutual funds.
About Franklin Templeton Investments
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 150 countries. Through specialized teams, the company has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. The company's more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California–based company has more than 65 years of investment experience and over US$898 billion (over C$1,012 billion) in assets under management as of October 31, 2014.
For more information, please visit franklintempleton.ca or connect with Franklin Templeton on Twitter (@FTI_Global). Read the Beyond Bulls & Bears blog featuring perspectives from Franklin Templeton investment professionals around the world and the Investment Adventures in Emerging Markets blog from Mark Mobius (@MarkMobius), executive chairman of Templeton Emerging Markets Group.
Copyright © 2014. Franklin Templeton Investments Corp. All rights reserved.
SOURCE: Franklin Templeton Investments Corp.
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Media contacts: Sarah Kingdon, Corporate Communications, Franklin Templeton Investments, 416.957.6191
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