Franklin Templeton Investments Corp. announced today that it will wind up its RSP “clone” funds on August 19. This move comes in response to the elimination of foreign content restrictions for registered plans announced in the 2005 Federal budget.
At the time of the wind up, holders of the RSP funds will receive units of the same series of the corresponding underlying funds equal in value to their original units.
Franklin Templeton Investments will wind up all of its 16 RSP funds, spanning across the Bissett, Templeton, Franklin, and Mutual Series fund families. In preparation for the wind up, purchases and switches into the RSP funds will be suspended effective August 12.