Franklin merges funds

Franklin Templeton Investments Corp. of Toronto has announced the merging of two of its funds into other funds. Franklin Bissett Canadian Higher Dividend Fund will be discontinued and merged into Franklin Bissett Canadian Dividend Fund. As well, Franklin Bissett Canadian High Dividend Corporate Class Fund will terminate and merge into Franklin Bissett Canadian Dividend Corporate Class Fund. The continuing funds invest primarily in dividend-paying or income-producing Canadian securities, including common and preferred shares, and income trusts. Holdings in a terminating fund that were not transferred out of the fund prior to April 21 will be automatically transferred to the corresponding continuing fund on a series-by-series, dollar-for-dollar basis. Advisor commissions for both continuing funds are 0%-6% for the front-load option; 5% for deferred sales; or 2.5% for the low-load option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule; or begin 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for the first six years of deferred sales, and 1% thereafter; and 0.5% for the first 3 years of low-load sales, and 1% thereafter. Management fees are 1.9% for A-class units and 0.9% for F-class units. Minimum investment is $500.

(fcollie@investmentexecutive.com).