Franklin Templeton closes 2 funds, 5 classes

Franklin Templeton Investments has streamlined its money market and Series-T USD line-up in Canada.

The following offerings will be terminated:

• The Franklin Templeton Money Market Corporate Class
• The Franklin Templeton U.S. Money Market Fund
• The Franklin Templeton U.S. Money Market Corporate Class
• The Franklin Templeton U.S. Money Market Yield Class
• The Franklin Templeton Global Blend Fund
• The Franklin Templeton Global Blend Corporate Class
• The Franklin Templeton Series T-USD of Quotential Global Balanced Portfolio
• The Franklin Templeton Quotential Global Balanced Corporate Class

The company says both its money market and U.S. money market corporate class have been closed to new investments since February 20, 2006 and March 3, 2008, respectively.

The other funds and series will cease offering units or shares for purchase after the close of business on February 14, 2013, with the products being terminated on April 16, 2013.

The offerings are being closed due to the decline in security holders and the associated cost of maintaining a smaller fund or series. Current security holders can redeem or switch their holdings on or prior to April 12, 2013.

At the close of business on April 16, 2013, any remaining fund holders will undergo the following treatment:

• Those who hold funds in a registered account will have their holdings switched on a dollar-for-dollar basis to corresponding funds.

• Those who hold funds in a non-registered account will have their holdings redeemed at fair market value and cheques will be sent out.

For account information, the company’s client service team can be reached between 8 a.m. to 8 p.m. ET. at 1-800-387-0830 (toll-free) or 416-364-4672 (Toronto).

All costs associated with the termination of the funds and series will be borne by Franklin Templeton Investments.

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