Franklin Templeton Canada to Wind Up Two ETFs
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.
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SOURCE Franklin Templeton Investments Corp.
