The investment management company has announced the approval of proposed mergers for several of its fund offerings in Canada
In an August 5 release, Franklin Templeton Investments announced that investors have approved proposed mergers for two Franklin Bissett funds and one Templeton fund. The approvals were given at special investor meetings held on the same date in Toronto.
In effect, the following fund mergers are expected to take place on or around August 12:
|Terminating Fund||Continuing Fund|
|Franklin Bissett Strategic Income Fund||Franklin Bissett Monthly Income and Growth Fund|
|Franklin Bissett Strategic Income Corporate Class||Franklin Bissett Monthly Income and Growth Fund|
|Templeton BRIC Corporate Class||Templeton Emerging Markets Fund|
Most of those invested in the terminating funds will have their holdings automatically transferred to the surviving fund on a series-by-series, dollar-by-dollar basis after business day’s end on August 12. Investors in Series R and S securities of Franklin Bissett Strategic Income Corporate Class are the exception, as they will receive Series O and F securities, respectively, of the applicable continuing fund.
Investors wishing to switch to a different fund or redeem their holdings prior to this transfer will need to submit a request to that effect before close of business on August 11.
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