TORONTO, Nov. 15, 2019 /CNW/ - Franklin Templeton Canada today announced that it will terminate Franklin Templeton Canadian Large Cap Fund on or around January 17, 2020.
This fund was originally created as an investment option for certain Franklin Templeton portfolios. The portfolio management team for these portfolios has decided to allocate their investments to other investment funds to more effectively implement their asset allocation strategies.
As of the close of business today, the fund will cease distribution of its units to new and current investors. Any investor who prefers to switch into any of Franklin Templeton's other funds or to redeem their investment ahead of the fund's termination date is advised to work with their financial advisor to submit their instructions on or before January 16, 2020.
About Franklin Templeton
Franklin Templeton Investments Corp. (known as Franklin Templeton Canada) is a subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton. Franklin Templeton's goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes, including equity, fixed income, alternatives and custom multi-asset 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 employees in over 30 countries, the California-based company has more than 70 years of investment experience and over US$693 billion (over C$912 billion) in assets under management as of October 31, 2019. For more information, please visit franklintempleton.ca.
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SOURCE Franklin Templeton Investments Corp.
For further information: Media Contact: Sarah Kingdon, Corporate Communications, Franklin Templeton, 416.957.6191, [email protected]