Franklin Templeton Investments Corp.’s shareholders have voted in favour of several fund mergers. Effective Oct. 21, 2005, Franklin U.S. Large Cap Growth Fund, Franklin U.S. Large Cap Growth Tax Class and Franklin Flex Cap Growth Fund have merged into Franklin Flex Cap Growth Corporate Class Fund. Franklin World Telecom Fund, Franklin World Telecom Tax Class Fund and Franklin Technology Fund have merged into Franklin Technology Corporate Class. And Franklin World Growth Fund has merged into Franklin World Growth Corporate Class Fund. The name Franklin Templeton Tax Class Corp. has been changed to Franklin Templeton Corporate Class Ltd. to reflect the structure of the funds, under which investors can switch between Corporate Class funds without triggering a tax event. Shareholders have also approved changes to the continuing funds’ mandates. Effective immediately, Franklin Flex Cap Growth Corporate Class will aim for capital appreciation by investing primarily in U.S. equities demonstrating accelerating growth. Franklin Technology Corporate Class will invest in technology companies in the U.S. and throughout the world. Franklin World Growth Corporate Class will seek long-term capital appreciation through investments primarily in equity securities of growth companies with any size of market capitalization. The company has also announced that it has renamed Bissett American Equity Fund to Franklin Templeton U.S. Rising Dividends Fund. The fund will remain focused on U.S. equities, but with more emphasis on companies that substantially increase their dividends over time. The new fund is managed by New Jersey-based Franklin Advisory Services LLC, which also manages U.S.-based Franklin Rising Dividends Fund. “The Bissett strategy was more focused on Canadian equities, and we felt this was a great opportunity to be part of a global organization,” says Hugh Cameron, director of corporate communication at Franklin Templeton Investments in Toronto. All fund fees and commissions remain the same.
Franklin Templeton streamlines fund lineup
- By: Lara Hertel
- November 3, 2005 June 1, 2019
- 16:05