Franklin Templeton Investments Corp. announced yesterday that shareholders have voted in favour of several changes to its fund line-up.

The following changes will take effect as of the close of business on Oct. 21, 2005:

  • Franklin U.S. Large Cap Growth Fund, Franklin U.S. Large Cap Growth Tax Class and Franklin Flex Cap Growth Fund will merge into Franklin Flex Cap Growth Tax Class;
  • Franklin World Telecom Fund, Franklin World Telecom Tax Class and Franklin Technology Fund will merge into Franklin Technology Tax Class; and
  • Franklin World Growth Fund will merge into Franklin World Growth Tax Class.



The portfolio advisor for the three continuing funds will be Franklin Advisers, Inc., San Mateo, Calif.; and with respect to the Franklin World Growth Tax Class fund, the sub-advisor will be Fiduciary International Inc., New York, N.Y.

In addition, shareholders approved that the continuing funds will adopt the following investment objectives:

  • Franklin Flex Cap Growth Tax Class: Capital appreciation by investing primarily in U.S. equities demonstrating accelerating growth, increasing profitability, or above-average growth or growth potential compared to the overall economy;
  • Franklin Technology Tax Class: Capital appreciation by investing primarily in equity securities of technology companies located in the U.S. and throughout the world; and
  • Franklin World Growth Tax Class: Long-term capital appreciation by investing primarily in equity securities of growth companies with any market size capitalization, which are located throughout the world.