Franklin Templeton Announces Changes to Canadian Fund Line-Up

TORONTO, Feb. 11, 2013 /CNW/ - Franklin Templeton Investments Corp. today announced changes to streamline its money market and Series-T USD line-up in Canada. Franklin Templeton Money Market Corporate Class, Franklin Templeton U.S. Money Market Fund, Franklin Templeton U.S. Money Market Corporate Class, Franklin Templeton U.S. Money Market Yield Class, Franklin Templeton Global Blend Fund and Franklin Templeton Global Blend Corporate Class will be terminated. Series T-USD of Quotential Global Balanced Portfolio and Quotential Global Balanced Corporate Class will also be terminated.

Franklin Templeton Money Market Corporate Class and Franklin Templeton U.S. Money Market Corporate Class have been closed to new investments since February 20, 2006 and March 3, 2008, respectively. The remaining funds and series will cease offering units or shares for purchase after the close of business on February 14, 2013. The funds and series will be terminated on or about April 16, 2013.

These funds and series are being closed due to the decline in securityholders and the associated cost of maintaining a smaller fund or series.

Securityholders can redeem or switch their holdings in the funds or series on or prior to April 12, 2013.

At the close of business on or about April 16, 2013, any remaining securityholders who hold the fund in:

  • A registered account will have its holdings switched on a dollar-for-dollar basis as follows:
Terminating Funds / Series: Switched-to Funds / Series:
Franklin Templeton U.S. Money Market Fund Franklin Templeton Money Market Fund
Franklin Templeton U.S. Money Market Corporate Class Franklin Templeton Money Market Fund  
Franklin Templeton U.S. Money Market Yield Class Franklin Templeton Money Market Fund
Franklin Templeton Money Market Corporate Class Franklin Templeton Money Market Fund
Franklin Templeton Global Blend Fund Franklin Templeton Money Market Fund
Franklin Templeton Global Blend Corporate Class Franklin Templeton Money Market Fund
Quotential Global Balanced Portfolio - Series T-USD Quotential Global Balanced Portfolio - Series T
Quotential Global Balanced Corporate Class Portfolio - Series T-USD Quotential Global Balanced Corporate Class Portfolio - Series T

Switches that involve a currency exchange from the U.S. dollar to the Canadian dollar will be processed using the exchange rate prevailing at the close of business on April 16, 2013.

  • A non-registered account will have its holdings redeemed at fair market value and cheques will be sent to securityholders.

Securityholders are encouraged to speak with their financial advisor to discuss their investment options. For account information, our client service team can be reached between 8 a.m. to 8 p.m. ET. at 1.800.387.0830 (toll-free) or 416.364.4672 (Toronto).

All costs associated with the termination of the funds and series will be borne by Franklin Templeton Investments Corp.

About Franklin Templeton Investments:

Franklin Resources, Inc. [NYSE: BEN] is a global investment management organization operating as Franklin Templeton Investments. The company provides global and domestic investment management solutions managed by its Franklin, Templeton, Bissett, Mutual Series, Fiduciary Trust and Darby investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over US$781 billion (over C$776 billion) in assets under management as of December 31, 2012.

Franklin Templeton Investments Corp. has more than 600 employees providing services to more than one million unitholder accounts and more than 200 pension funds, foundations and other institutional investors. Additional information on Franklin Templeton Investments Corp. can be found at www.franklintempleton.ca.

 

SOURCE: Franklin Templeton Investments Corp.

For further information:

Media contact:
Sarah Kingdon, Corporate Communications, Franklin Templeton Investments, 416.957.6191


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