Franklin Templeton Investments Corp. proposes streamlining their fund lineup



    TORONTO, March 24 /CNW/ - Franklin Templeton Investments Corp. today
announced several proposed mergers and changes to the investment objectives of
certain funds, which will be voted on at a special meeting of securityholders
to be held on or about May 16, 2008 in Toronto.
    "This move is designed to streamline some of our similar funds and
provide investors with a more efficient lineup to choose from," said Don Reed,
president and CEO of Franklin Templeton Investments Corp.

    Securityholders will vote on the following proposed investment objective
    changes:

    Bissett Income Trust and Dividend Fund's investment objective will change
to an equity mandate, investing primarily in dividend paying or income
producing Canadian securities, including common shares, income trust units and
preferred shares. This will give the fund the flexibility to invest in a
broader universe of companies, outside of income trusts. The fund's name will
be changed to the Bissett Canadian Dividend Fund.
    Franklin U.S. Small-Mid Cap Growth Fund will change its investment
objective to invest in U.S. equities demonstrating accelerating growth,
increasing profitability, or above average growth or growth potential compared
to the overall economy. This will provide the manager the flexibility to take
advantage of a broader range of growth opportunities. Concurrent with the
change in investment objective, the fund will change its name to Franklin Flex
Cap Growth Fund.

    Corporate Class funds to invest in trust fund units

    Franklin Flex Cap Growth Corporate Class will change its investment
objective to invest in units of the new Franklin Flex Cap Growth Fund. The
change in the investment objective of Franklin Flex Cap Growth Corporate Class
is contingent on the approval of the change in the investment objective of
Franklin U.S. Small-Mid Cap Growth Fund.
    Securityholders will also vote on proposed changes to the investment
objectives of Franklin Japan Corporate Class, Franklin World Growth Corporate
Class and Templeton European Corporate Class. These proposed changes will
permit each of these Corporate Class funds to invest all of its assets in
units of its respective trust fund.

    The proposed changes are:

    Franklin Japan Corporate Class will invest in units of Franklin Japan
Fund;

    Franklin World Growth Corporate Class will invest in units of Franklin
World Growth Fund;

    Templeton European Corporate Class will invest in units of Templeton
European Fund.

    The proposed mergers are as follows:

    Franklin U.S. Small-Mid Cap Growth Corporate Class will merge into
Franklin Flex Cap Growth Corporate Class. The objective of the Franklin Flex
Cap Growth Corporate Class is to invest in U.S. equities demonstrating
accelerating growth, increasing profitability, or above average growth or
growth potential compared to the overall economy.
    Bissett Large Cap Fund will merge into Bissett Canadian Equity Fund.
Bissett Canadian Equity Fund's objective is long-term capital appreciation by
investing in a diversified portfolio of mid- to large-capitalization Canadian
equities.
    Templeton Global Balanced Fund will merge into Templeton Global Income
Fund. Templeton Global Income Fund's objective is current income while
maintaining prospects for capital appreciation by investing primarily in debt
and equity securities issued around the world.
    Templeton Balanced Fund will merge into Templeton Canadian Asset
Allocation Fund. Templeton Canadian Asset Allocation Fund's objective is high
long-term total return from interest, dividends and capital gains by investing
primarily in a mix of Canadian equities and fixed-income securities.
Concurrent with the merger, Templeton Canadian Asset Allocation Fund will
change its name to Templeton Canadian Balanced Fund.
    Securityholders of Franklin U.S. Small-Mid Cap Growth Corporate Class,
Bissett Large Cap Fund and Templeton Global Balanced Fund will receive
securities of the respective continuing funds on a dollar-for-dollar and
series-by-series basis. Securityholders of Templeton Balanced Fund will
receive Series F units of Templeton Canadian Asset Allocation Fund on a
dollar-for-dollar basis.
    The investment objective changes and mergers are subject to
securityholder approval; certain of the mergers also require regulatory
approval. If the requisite approvals are obtained, the changes will be
implemented on or before June 13, 2008.

    Mutual Discovery Fund and Corporate Class version offer Series I

    In addition to Series A, F, O and T units, Series I will be added to
Mutual Discovery Fund and Mutual Discovery Corporate Class and will be
available for sale on April 7, 2008. Series I units are available for
investors who have a minimum investment of $500,000 in one or more of our
funds or portfolios in Series I.
    More information about these funds is available at
www.franklintempleton.ca.

    Franklin Templeton Investments Corp. is a wholly owned subsidiary of
Franklin Resources, Inc., a global investment organization operating as
Franklin Templeton Investments. In Canada, Franklin Templeton Investments
provides global and domestic investment advisory services to the Franklin,
Templeton, Bissett and Mutual Series funds and institutional accounts.
Franklin Templeton Investments Corp. has more than 700 employees providing
services to more than 1.8 million unitholder accounts and more than 200
pension funds, foundations and other institutional investors. Franklin
Templeton Investments Corp. can be found at www.franklintempleton.ca.

    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 solutions
managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust
investment teams. The San Mateo, CA-based company has 60 years of investment
experience and more than US$600 billion (C$590 billion) in assets under
management as of February 29, 2008.





For further information:

For further information: Keith Damsell, Manager, Corporate
Communications, (416) 957-6099


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890