- Franklin Templeton Investments Corp. also launches two new U.S. funds -
TORONTO, March 3 /CNW/ - Franklin Templeton Investments Corp. today
introduced three new Corporate Class funds: Franklin Global Real Estate
Corporate Class, Bissett U.S. Focus Corporate Class and Franklin Templeton
U.S. Short-Term Yield Class. The Corporate Class structure allows investors to
switch between funds while deferring taxes until they redeem from the
Global Real Estate fund invests with local approach
The new Franklin Global Real Estate Corporate Class fund seeks capital
appreciation and income by indirectly investing in real estate sectors in
countries around the world from old Europe to emerging markets. To reduce
foreign currency risk, the strategy incorporates currency hedging for the
non-Canadian dollar holdings in the fund.
"Real estate markets around the world have low correlation to one another
because the economic situation is vastly different across countries and
cities," said Jack Foster, Managing Director and Head of Global Real Estate of
Franklin Templeton Real Estate Advisors. "With real estate being a local asset
class, we take the time to conduct our global research locally around the
world for the funds we manage."
The new fund will be managed by Franklin Templeton Institutional, LLC, in
New York who have been investing in real estate securities since 1984.
Co-managers on the new fund will be Jack Foster, Boris Pialloux and David
Levy, who also manage the U.S.-based Franklin Global Real Estate Fund.
New U.S. quant fund builds on success of Canadian fund
Jason Hornett and Garey Aitken will co-manage the new Bissett U.S. Focus
Corporate Class fund, following the success of their $510 million Bissett All
Canadian Focus Fund.
The new fund will indirectly invest in U.S. securities that are selected
based on a quantitative approach to produce long-term capital appreciation
with moderate investment risk.
Bissett Investment Management has designed a pre-determined quantitative
screening model that identifies equities based on selection criteria, while
incorporating a mix of historical and projected financial and stock market
Offering Canadians tax-efficient yield
The new Franklin Templeton U.S. Short Term Yield Class fund uses forward
contracts to provide a return similar to its reference fund - Franklin
Templeton U.S. Money Market Fund - and the earnings are treated as capital
gains for tax purposes.
By entering into forward contracts that are tied to the performance of
the reference fund, the new fund is positioned to increase after-tax yield.
This U.S. Short Term Yield Class fund is suitable for investors who want the
stability of income and the tax-efficiency of capital gains.
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$605.2 billion (C$606.8 billion) in assets under
management as of January 31, 2008.
For further information:
For further information: Sarah Powley, Consultant, Public Relations,