TORONTO, June 23 /CNW/ - Franklin Templeton Investments Corp. today
launched Franklin Templeton Treasury Bill Yield Class to meet the growing
demand among Canadians for stable tax-efficient returns. This new fund uses a
derivative strategy to provide returns in the form of capital gains instead of
interest income for tax purposes.
"Canadians want to invest in income solutions that provide
tax-efficiency," said Don Reed, president and chief executive officer,
Franklin Templeton Investments Corp. "This new Franklin Templeton Treasury
Bill Yield Class will enter into forward contracts that are tied to the
performance of its reference fund, Franklin Templeton Treasury Bill Fund, to
increase after-tax yield."
The new Treasury Bill Yield Class will invest in Canadian equity
securities and enter into forward contracts under which it will forward sell
the equity securities at a future date. This will provide a return in a
tax-efficient manner similar to its reference fund, the Treasury Bill fund.
Guy Le Blanc, Lead Manager of the Franklin Templeton Treasury Bill Fund, will
manage the Franklin Templeton Treasury Bill Yield Class. Mr. Le Blanc also
manages four of Franklin Templeton's other managed yield class funds.
The new fund is part of Franklin Templeton's Corporate Class structure,
which allows investors to switch between Corporate Class funds and portfolios
while deferring taxable events until they redeem from the structure.
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 1.2 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, Fiduciary Trust, Darby and
Bissett investment teams. The San Mateo, CA-based company has more than
60 years of investment experience and approximately US $623 billion (C
$619 billion) in assets under management as of May 31, 2008.
For further information:
For further information: Media contact: Sarah Powley, Franklin Templeton
Investments Corp., (416) 957-6191