On The Shelf: Franklin Templeton streamlines fund lineup

(March 24, 2008) Franklin Templeton Investments has announced several proposed mergers and changes to the investment objectives of certain funds, which unitholders will be able to vote on at a special meeting on or about May 16, 2008, in Toronto. Franklin Templeton is proposing changes to the Bissett Income Trust and Dividend Fund’s investment objective, […]

By Staff | March 24, 2008 | Last updated on March 24, 2008
2 min read
  • Franklin U.S. Small-Mid Cap Growth Corporate Class will merge into Franklin Flex Cap Growth Corporate Class.
  • Bissett Large Cap Fund will merge into Bissett Canadian Equity Fund.
  • Templeton Global Balanced Fund will merge into Templeton Global Income Fund.
  • Templeton Balanced Fund will merge into Templeton Canadian Asset Allocation Fund. Concurrent with the merger, Templeton Canadian Asset Allocation Fund will change its name to Templeton Canadian Balanced Fund. Unitholders of Templeton Balanced Fund will receive Series F units of Templeton Canadian Asset Allocation Fund on a dollar-for-dollar basis.

    Holders 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.

    If the mergers are approved, the changes will be implemented on or before June 13, 2008.

    Lastly, Franklin Templeton is going to offer Series I units of its Mutual Discovery Fund. 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 the company’s funds or portfolios in Series I.

    (03/24/08)

    Advisor.ca staff

    Staff

    The staff of Advisor.ca have been covering news for financial advisors since 1998.

    • Previously this week: | MON | TUE | WED | THU |

    (March 24, 2008) Franklin Templeton Investments has announced several proposed mergers and changes to the investment objectives of certain funds, which unitholders will be able to vote on at a special meeting on or about May 16, 2008, in Toronto.

    Franklin Templeton is proposing changes to the Bissett Income Trust and Dividend Fund’s investment objective, making it an equity mandate, investing primarily in dividend-paying or income-producing Canadian securities, including common shares, income trust units and preferred shares. The company says this would allow the fund to invest in a broader universe of companies, outside of income trusts. The fund’s name will be changed to 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. The fund will change its name to Franklin Flex Cap Growth Fund.

    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.

    Unitholders will also be asked to 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 fund mergers are as follows:

  • Franklin U.S. Small-Mid Cap Growth Corporate Class will merge into Franklin Flex Cap Growth Corporate Class.
  • Bissett Large Cap Fund will merge into Bissett Canadian Equity Fund.
  • Templeton Global Balanced Fund will merge into Templeton Global Income Fund.
  • Templeton Balanced Fund will merge into Templeton Canadian Asset Allocation Fund. Concurrent with the merger, Templeton Canadian Asset Allocation Fund will change its name to Templeton Canadian Balanced Fund. Unitholders of Templeton Balanced Fund will receive Series F units of Templeton Canadian Asset Allocation Fund on a dollar-for-dollar basis.

    Holders 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.

    If the mergers are approved, the changes will be implemented on or before June 13, 2008.

    Lastly, Franklin Templeton is going to offer Series I units of its Mutual Discovery Fund. 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 the company’s funds or portfolios in Series I.

    (03/24/08)

    • Previously this week: | MON | TUE | WED | THU |

    (March 24, 2008) Franklin Templeton Investments has announced several proposed mergers and changes to the investment objectives of certain funds, which unitholders will be able to vote on at a special meeting on or about May 16, 2008, in Toronto.

    Franklin Templeton is proposing changes to the Bissett Income Trust and Dividend Fund’s investment objective, making it an equity mandate, investing primarily in dividend-paying or income-producing Canadian securities, including common shares, income trust units and preferred shares. The company says this would allow the fund to invest in a broader universe of companies, outside of income trusts. The fund’s name will be changed to 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. The fund will change its name to Franklin Flex Cap Growth Fund.

    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.

    Unitholders will also be asked to 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 fund mergers are as follows:

  • Franklin U.S. Small-Mid Cap Growth Corporate Class will merge into Franklin Flex Cap Growth Corporate Class.
  • Bissett Large Cap Fund will merge into Bissett Canadian Equity Fund.
  • Templeton Global Balanced Fund will merge into Templeton Global Income Fund.
  • Templeton Balanced Fund will merge into Templeton Canadian Asset Allocation Fund. Concurrent with the merger, Templeton Canadian Asset Allocation Fund will change its name to Templeton Canadian Balanced Fund. Unitholders of Templeton Balanced Fund will receive Series F units of Templeton Canadian Asset Allocation Fund on a dollar-for-dollar basis.

    Holders 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.

    If the mergers are approved, the changes will be implemented on or before June 13, 2008.

    Lastly, Franklin Templeton is going to offer Series I units of its Mutual Discovery Fund. 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 the company’s funds or portfolios in Series I.

    (03/24/08)