FTI proposes changes to 2 Bissett funds

Franklin Templeton Investments Corp. has announced proposed changes to the investment objectives of the Bissett Focus Balanced Fund and Bissett Focus Balanced Corporate Class, which will be voted on at special meetings of securityholders on or about April 22, 2013 in Toronto.

The new investment objectives of the funds will provide investors access to a diversified mix of Canadian equities across market capitalizations. The equity investments will be complemented by Canadian and global fixed income opportunities across multiple sectors, which will help reduce portfolio volatility and enhance risk-adjusted returns.

Read: Franklin Templeton closes 2 funds, 5 classes

If securityholders approve the proposed changes, the funds’ names will also be changed and management fees reduced on or about May 13, 2013.

If approved, Bissett Focus Balanced Fund will change its investment objective to seek a balance of current income and long-term capital appreciation by investing primarily in a diversified portfolio of Canadian equity and fixed income securities, and to a lesser degree, in fixed-income securities issued around the world.

Read: Franklin Templeton signals entry into active ETF space

This marks a broadening of the fund’s objective to a multi-cap, multi-sector approach that is backed by Bissett’s investment team, which has a strong track record of absolute, relative and risk-adjusted returns. If the change in objective is approved, the fund’s name will be changed to Franklin Bissett Canadian All Cap Balanced Fund and management fees for Series A, F, I and T of the fund will be reduced.

As the investment objective of Bissett Focus Balanced Corporate Class is to invest substantially all of its assets in units of Bissett Focus Balanced Fund, securityholders of the Corporate Class fund are also being asked to approve a similar investment objective change. If approved, Bissett Focus Balanced Corporate Class will change its investment objective to seek a balance of current income and long-term capital appreciation by investing substantially all of its assets in units of (the newly renamed) Franklin Bissett Canadian All Cap Balanced Fund.

If the change in objective is approved, the Corporate Class fund’s name will be changed to Franklin Bissett Canadian All Cap Balanced Corporate Class and management fees for Series A, F, I and T of the fund will be reduced.

Read: Franklin introduces new dividend-focused funds

Staff

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