TORONTO, Sept. 17, 2013 /CNW/ - Franklin Templeton Investments Corp. today announced that securityholders have approved a series of Franklin Quotential portfolio mergers, and a change to the investment objectives and names of two Franklin Quotential portfolios, which were voted on at special meetings on September 16, 2013 in Toronto.
Upon implementation of the mergers, the resulting five Franklin Quotential mandates will provide investors with a streamlined range of investment portfolios, making it easier for them to select a suitable portfolio based on their risk tolerance.
The mergers include:
- Franklin Quotential Global Balanced Portfolio and Franklin Quotential Global Balanced Corporate Class Portfolio will be merged into Franklin Quotential Balanced Income Portfolio and Franklin Quotential Balanced Income Corporate Class Portfolio, respectively.
- Franklin Quotential Canadian Growth Portfolio and Franklin Quotential Canadian Growth Corporate Class Portfolio will be merged into Franklin Bissett Canadian Equity Fund and Franklin Bissett Canadian Equity Corporate Class, respectively.
- Franklin Quotential Maximum Growth Portfolio and Franklin Quotential Maximum Growth Corporate Class Portfolio will be merged into Franklin Quotential Global Growth Portfolio and Franklin Quotential Global Growth Corporate Class Portfolio, respectively.
These mergers will be executed after the close of business on or around October 25, 2013.
Investment Objective and Name Changes
Securityholders in Franklin Quotential Global Growth Portfolio and Franklin Quotential Global Growth Corporate Class Portfolio approved the new investment objective of the portfolios, which will be to seek long-term capital appreciation by investing primarily in a diversified mix of equity mutual funds, providing investors with a broader mix of investment ideas and geographic exposures. Securityholders also approved related name changes for each of these portfolios. Franklin Quotential Global Growth Portfolio and Franklin Quotential Global Growth Corporate Class Portfolio will change to Franklin Quotential Diversified Equity Portfolio and Franklin Quotential Diversified Equity Corporate Class Portfolio, respectively. These changes will be implemented after the close of business on or around October 25, 2013.
About Franklin Quotential, Corporate Class and Franklin Bissett
Franklin Quotential is a comprehensive investment solution combining Franklin Templeton's expertise across multiple asset classes within the Franklin, Templeton, Franklin Mutual Series and Franklin Bissett investment management groups. Co-managed by industry veterans Brent Smith and Stephen Lingard of Franklin Multi-Asset Strategies, the C$7.8-billion Franklin Quotential program is backed by a global investment team dedicated to using a disciplined approach to multi-asset management, helping to mitigate risks and maximize returns for investors' portfolios.
Franklin Quotential offers a specific line of portfolios that are part of Franklin Templeton's Corporate Class structure, which allows investors to switch between funds and portfolios while deferring any taxable dispositions until they redeem from the structure.
Franklin Bissett Canadian Equity Fund is supported by the Calgary-based Franklin Bissett Investment Management team that uses a growth-at-a-reasonable-price (GARP) investment style to uncover opportunities in the Canadian market. Garey Aitken, chief investment officer, and Tim Caulfield, director of equity research, at Franklin Bissett Investment Management, are co-managers of the C$2-billion fund.
About Franklin Templeton Investments
Franklin Templeton Investments Corp. is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over US$817 billion (C$861 billion) in assets under management as of August 31, 2013. For more information, please visit franklintempleton.ca.
SOURCE Franklin Templeton Investments Corp.