Fund mergers at Franklin Templeton

Toronto-based Franklin Templeton Investments Corp. will merge six corporate-class funds into other funds because of tax changes announced by the federal government in 2013. Pending unitholder and regulatory approvals, the following mergers will occur on or about Dec. 12: Franklin Bissett Bond Yield Class and Franklin Bissett Bond Corporate Class will merge into Franklin Bissett Bond Fund; Franklin Bissett Canadian Short Term Bond Yield Class will merge into Franklin Bissett Canadian Short Term Bond Fund; Franklin Bissett Corporate Bond Yield Class will merge into Franklin Bissett Corporate Bond Fund; Franklin Bissett Money Market Yield Class will merge into Franklin Bissett Money Market Corporate Class; and Templeton Global Bond Hedged Yield Class will merge into Templeton Global Bond Fund. In addition, Franklin Templeton is proposing to merge Templeton Global Bond Hedged Yield Class with its reference fund, Templeton Global Bond Fund. These changes will be voted on at special meetings of unitholders to be held on or around Nov. 28. The management and fixed administration fees will remain the same, while the management expense ratios will remain the same or be lower in the continuing funds.

(cohara@investmentexecutive.com).