TORONTO, June 25, 2019 /CNW/ - Franklin Templeton Canada today announced the proposed merger of Franklin Select U.S. Equity Fund into Franklin U.S. Opportunities Fund, which will be voted on at a special meeting of investors to be held on or around November 1, 2019.
Franklin Select U.S. Equity Fund and Franklin U.S. Opportunities Fund both substantially invest in U.S. equities, employ a growth investment style, and have similar sector weights and fees.
Franklin U.S. Opportunities Fund seeks capital appreciation by investing primarily in U.S. equities that demonstrate either accelerating growth, increasing profitability, above average growth or growth potential when compared to the overall economy. Active stock selection allows the fund's managers to isolate companies that are leaders in their industries, have meaningful competitive advantages, sustainable earnings and cash flow growth, solid management, strong financial records and current prices that offer significant upside relative to firm financial risk.
Franklin U.S. Opportunities Fund is managed by Grant Bowers, vice president and portfolio manager, Franklin Equity Group, and Sara Araghi, vice president and portfolio manager, Franklin Equity Group, who have 25 and 15 years at the firm, respectively.
Franklin Select U.S. Equity Fund investors will receive an information circular in October 2019 detailing the proposed merger. Pending regulatory and investor approvals, the merger of Franklin Select U.S. Equity Fund into Franklin U.S. Opportunities Fund will be implemented after the close of business on or around November 22, 2019.
Franklin Equity Group brings together more than six decades of investment experience, offering in-depth expertise in managing growth, value and hybrid/balanced equity strategies that cover global, regional and sector specialties. Using bottom-up fundamental research, the team of more than 30 investment professionals focuses on investing in high-quality companies with the potential for long-term sustainable growth, which can provide significant opportunities and attractive risk-adjusted returns for investors over time. As of March 31, 2019, Franklin Equity Group had over US$91 billion (C$122 billion) in assets under management.
All costs and expenses associated with the merger, including the meeting costs, will be borne by the manager and not charged to the funds. No commission or other fees will be charged to investors for exchanges from the terminating fund into the continuing fund.
Investors are encouraged to speak to their financial advisor about these changes. Franklin Templeton's client service team is also available at 1-800-387-0830 or [email protected].
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 approximately US$695 billion (C$939 billion) in assets under management as of May 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]