TORONTO, Oct. 12,
2023 /CNW/ - Franklin Templeton Canada today
announced that it will terminate two ETFs, Franklin Core Balanced
Active ETF (FLBA) and Franklin Risk Managed Canadian Equity Active
ETF (FLRM), on or around December 13,
2023.
Effective November 1, 2023,
no further direct subscriptions for units of FLBA or FLRM will be
accepted by Franklin Templeton
Canada. Units of these ETFs will continue to be listed on
the Toronto Stock Exchange (TSX) until voluntary delisting occurs
at the close of business on or around December 7, 2023.
On or around December 8, 2023,
Franklin Templeton Canada will sell
and convert the ETFs' portfolios to cash, and the remaining
assets—after paying or providing for the ETFs' liabilities and
obligations—will be distributed to the ETFs' unitholders on a
pro-rata basis. Unitholders who do not sell or redeem their units
before the close of business on December 7,
2023, will receive cash representing their proportionate
share of the ETFs' assets on or around December 14, 2023.
Franklin Templeton Canada
regularly reviews its investment offerings to ensure that its ETF
and fund lineup remains competitive and positioned to meet the
evolving needs of investors and advisors. Investors are encouraged
to speak to their financial advisor about these changes and their
investment options. Franklin
Templeton's client service team is also available to answer
questions between 8 a.m. and 6 p.m.
EDT at 1-800-387-0830 or service@franklintempleton.ca.
About Franklin
Templeton
Franklin Resources, Inc. [NYSE:BEN] is a
global investment management organization with subsidiaries
operating as Franklin Templeton and
serving clients in over 150 countries. In Canada, the company's
subsidiary is Franklin Templeton Investments Corp., which operates
as Franklin Templeton Canada.
Franklin Templeton's mission is to
help clients achieve better outcomes through investment management
expertise, wealth management and technology solutions. Through its
specialist investment managers, the company offers specialization
on a global scale, bringing extensive capabilities in fixed income,
equity, alternatives and multi-asset solutions. With more than
1,300 investment professionals, and offices in major financial
markets around the world, the California-based company has over 75 years of
investment experience and approximately US$1.4 trillion (approximately CAN$1.9 trillion)
in assets under management as of September
30, 2023. For more information, please visit
franklintempleton.ca and connect with Franklin Templeton on Twitter, Facebook and
LinkedIn, and read the Beyond Bulls & Bears blog.
Commissions, management fees and expenses all may be
associated with investments in ETFs. Investors should carefully
consider an ETF's investment objectives and strategies, risks, fees
and expenses before investing. The prospectus and ETF facts contain
this and other information. Please read the prospectus and ETF
facts carefully before investing. ETFs trade like stocks, fluctuate
in market value and may trade at prices above or below the ETF's
net asset value. Brokerage commissions and ETF expenses will reduce
returns. ETFs are not guaranteed, their values change frequently,
and past performance may not be repeated.
Copyright © 2023. Franklin Templeton. All rights
reserved.
SOURCE Franklin Templeton Investments Corp.