Subject: DIV
Franklin Templeton Canada Announces Fee Reductions for Certain Funds
TORONTO, Jan. 28, 2020 /CNW/ - Franklin Templeton Canada today announced management fee reductions, admin fee reductions and/or waiver changes for certain series of 22 funds, to provide Canadians with active investment management at a lower cost.
"We are strongly committed to providing Canadians with high quality investment solutions at competitive fees to help them meet their financial goals," said Duane Green, president and CEO, Franklin Templeton Canada.
Details of these changes, including the effective dates, are provided in the table below:
NEW FEES FEE SAVINGS Fund Name Series Mgmt. Fee Admin. Fee Mgmt. Fee Total Fees Total Effective Date in 2020 A 1.60 0.10 - 1.70 -0.43 Feb. 1 F 0.60 0.10 - 0.70 -0.43 Feb. 1 PA 1.60 0.10 - 1.70 -0.20 Feb. 1 PF 0.60 0.10 - 0.70 -0.20 Feb. 1 O1 0.70 - - 0.70 -0.20 Apr. 1 O2 0.65 - - 0.65 -0.10 Apr. 1 O3 0.60 - - 0.60 -0.05 Apr. 1 A 1.95 0.25 - 2.20 -0.40 Feb. 1 F 0.95 0.25 - 1.20 -0.40 Feb. 1 A 1.95 0.25 - 2.20 -0.40 Feb. 1 F 0.95 0.25 - 1.20 -0.40 Feb. 1 A / T 1.60 0.10 - 1.70 -0.21 Feb. 1 F 0.60 0.10 - 0.70 -0.21 Feb. 1 PA / PT 1.60 0.10 - 1.70 -0.10 Feb. 1 PF/ PFT 0.60 0.10 - 0.70 -0.10 Feb. 1 O1 0.70 - - 0.70 -0.10 Apr. 1 O2 0.65 - - 0.65 -0.10 Apr. 1 O3 0.60 - - 0.60 -0.05 Apr. 1 A / T 2.00 0.22 - 2.22 -0.11 Feb. 1 F 1.00 0.22 - 1.22 -0.11 Feb. 1 A / T 2.00 0.22 - 2.22 -0.11 Feb. 1 F 1.00 0.22 - 1.22 -0.11 Feb. 1 A / 2.00 0.17 - 2.17 -0.11 Feb. 1 F / F (Hedged) 1.00 0.17 - 1.17 -0.11 Feb. 1 A / T 2.00 0.17 - 2.17 -0.11 Feb. 1 F 1.00 0.17 - 1.17 -0.11 Feb. 1 A / T 2.00 0.17 - 2.17 -0.11 Feb. 1 F 1.00 0.17 - 1.17 -0.11 Feb. 1 A / T 2.00 0.25 - 2.25 -0.10 Feb. 1 F 1.00 0.25 - 1.25 -0.10 Feb. 1 A / T 2.00 0.25 - 2.25 -0.10 Feb. 1 F 1.00 0.25 - 1.25 -0.10 Feb. 1 A 2.00 0.15 - 2.15 -0.08 Feb. 1 A / T 2.00 0.15 - 2.15 -0.08 Feb. 1 F 1.00 0.15 -0.10 1.05 -0.01 Feb. 1 A 1.90 0.15 - 2.05 -0.07 Feb. 1 F 0.90 0.15 - 1.05 -0.01 Feb. 1 A / T 1.90 0.15 - 2.05 -0.07 Feb. 1 F/ FT 0.90 0.15 - 1.05 -0.01 Feb. 1 A / T 1.90 0.15 - 2.05 -0.06 Feb. 1 A / T 1.90 0.15 - 2.05 -0.06 Feb. 1 F 0.90 0.15 - 1.05 -0.01 Feb. 1 A / T / T-USD 1.85 0.13 - 1.98 -0.06 Feb. 1 F / FT 0.85 0.13 - 0.98 -0.06 Feb. 1 A / T / T-USD 1.85 0.13 - 1.98 -0.06 Feb. 1 F / FT 0.85 0.13 - 0.98 -0.06 Feb. 1 A / T 1.85 0.13 - 1.98 -0.06 Feb. 1 F / FT 0.85 0.13 - 0.98 -0.06 Feb. 1 T 2.00 0.33 -0.02 2.31 -0.02 Jun. 26 I 1.25 0.35 -0.03 1.57 -0.01 Jun. 26 1. This tier level is from C$200,000 up to C$2.5 million in investable assets.
Waiver
A (Hedged) /
T /
T (Hedged)
2. This tier level is from C$2.5 million up to C$5 million in investable assets.
3. This tier level is for over C$5 million in investable assets.
4. For Series F, effective February 1, 2020, the decrease of the management fee waiver to -0.10% will be offset by the decrease to the admin fee to 0.15%, resulting in the total fee remaining unchanged at 1.05%.
5. For Series F, effective February 1, 2020, the elimination of the management fee waiver will be offset by the decrease to both the management fee to 0.90% and admin fee to 0.15%, resulting in the total fee remaining unchanged at 1.05%.
Series Mergers
Effective February 1, 2020, investors in the mutual funds below will now access the lowest fees in Series A, F and T; and auto-switches into the following series will no longer take place:
- Franklin Bissett Canada Plus Equity Fund (Series PA and PF)
- Franklin Bissett Monthly Income and Growth Fund (Series PA, PF and PT)
Series PA, PF and PT will be closed to new investors, effective February 1, 2020; and closed to new investments by existing investors, effective April 24, 2020.
Series PA, PF and PT will be merged into Series A, F and T, respectively, after close of business on April 24, 2020. There are no taxable implications as the mergers are being done on a tax-deferred basis.
After the merger, investors will continue to receive preferred pricing in Series A, F and T.
Investors are encouraged to speak to their financial advisor about these changes. Franklin Templeton's client service team is also available at 1-800-387-0830 or [email protected].
About Franklin Templeton
Franklin Templeton Investments Corp. (known as Franklin Templeton Canada) is a subsidiary of Franklin Resources, Inc. [NYSE: BEN], a global investment management organization operating as Franklin Templeton. Franklin Templeton's goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes, including equity, fixed income, alternatives and custom multi-asset solutions. The company's more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With employees in over 30 countries, the California-based company has more than 70 years of investment experience and over US$698 billion (over C$906 billion) in assets under management as of December 31, 2019. For more information, please visit franklintempleton.ca.
Connect with Franklin Templeton Investments Canada on Twitter, Facebook and LinkedIn, and read the Beyond Bulls & Bears blog featuring perspectives from Franklin Templeton investment professionals around the world.
SOURCE Franklin Templeton Investments Corp.
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