Franklin Templeton Investments Corp. plans to terminate Bissett Canadian Core Plus Bond Fund, the firm announced Friday.

Effective Oct, 31, the fund will cease offering units for purchase and it will be terminated on Dec, 30.

The decision to terminate the fund is due to the small number of unitholders and the associated cost of maintaining a smaller fund, Franklin Templeton says.

It adds that since Bissett Canadian Core Plus Bond Fund invests in other Franklin Templeton mutual funds, unitholders can largely re-create the same investment by investing in the underlying funds: Bissett Bond Fund and Franklin Templeton Global Aggregate Bond Fund.

Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the fund. All costs associated with the termination of the fund will be borne by Franklin Templeton Investments Corp.

On or prior to Dec. 29, unitholders may switch or redeem their holdings in the fund for settlement.

Any unitholders who hold Bissett Canadian Core Plus Bond Fund in a Franklin Templeton Investments registered account, and who remain in the fund on Dec. 29, will have their holdings switched into Franklin Templeton Money Market Fund.

On Dec. 30, Franklin Templeton Investments will liquidate the holdings of the fund at fair market value, will make a final distribution of any income and capital gains, and distribute the net assets to unitholders.

IE