Investment manager announces reductions, proposed changes to ensure 'product line-up remains competitive'
Franklin Templeton Canada is lowering fees and seeking to make other changes to certain funds in its product line-up.
Effective October 1, the firm said that fees for series A, F, and T of its Franklin Global Growth Fund and Franklin Global Growth Corporate Class will be reduced to the following rates:
The fee reductions will result in investors having access to the lowest fee in the series. Consequently, Franklin Templeton Canada said it’s closing Series PA, PF and PT of Franklin Global Growth Fund to new investors after the close of business on September 30, and the units will be closed to new investments after the close of business on December 3.
The firm is also proposing to merge numerous funds into others with substantially similar investment strategies and identical fee structures on a tax-deferred basis, including:
Except in certain cases, investors in each terminating fund will be asked to approve its merger at special meetings on or about October 30.
The Franklin ActiveQuant Canadian Corporate Class and Franklin Bissett Canadian Dividend Corporate Class have been closed to new investments, and will be terminated on or around November 6. The strategies underlying those funds may still be accessed via the Franklin ActiveQuant Canadian Fund and Franklin Bissett Canadian Dividend Fund, respectively.
