Franklin Templeton Investments Canada is proposing changes to the investment objectives and strategies of two funds: the Franklin Bissett Dividend Income Fund and Franklin Bissett Dividend Income Corporate Class.
The company wants both funds to invest primarily in dividend-paying Canadian and U.S. common stocks. Currently, they invest primarily in Canadian and American dividend-paying preferred and common stocks and, from time to time, bonds up to a maximum of 25% of total assets.
The portfolio managers propose to make the strategy for the funds pure equity, with 60% in Canadian equities and 40% in U.S. equities.
The changes will be voted on at a special meeting of securityholders for each fund, on or about June 25.
The funds are co-managed by Les Stelmach, senior vice-president and portfolio manager, and Ryan Crowther, vice-president and portfolio manager. Both work for Franklin Bissett Investment Management.