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Franklin Templeton Canada will wind up its Canadian Large Cap Fund early next year.

The firm said it will cease distribution of units at the end of the business day on Friday and close the fund around Jan. 17.

The fund was created as an investment option for certain Franklin Templeton portfolios, the firm said in a release. “The portfolio management team for these portfolios has decided to allocate their investments to other investment funds to more effectively implement their asset allocation strategies.”