Banking, Financial Services; Franklin Templeton Investments Corp. announces fund mergers in Canada Anonymous

Banking, Financial Services; Franklin Templeton Investments Corp. announces fund mergers in Canada
Anonymous.
Economics & Business Week. Atlanta: Apr 16, 2011. pg. 477

Abstract (Summary)
The decision to merge these funds will allow Franklin Templeton to streamline its product offering, allocate operational costs across a larger portfolio base and provide the continuing funds with a portfolio of greater value allowing for increased portfolio diversification opportunities.
(c)Copyright 2011, Economics & Business Week via NewsRx.com
2011 APR 16 - (VerticalNews.com) -- Franklin Templeton Investments Corp. announced the proposed mergers of Bissett Multinational Growth Fund and Bissett Multinational Growth Corporate Class (collectively, the "Terminating Funds") into Franklin World Growth Fund and Franklin World Growth Corporate Class, respectively, which will be voted on at special meetings of securityholders of each of the Terminating Funds on or about June 10, 2011 in Toronto. While subject to both securityholder and regulatory approval, the proposed mergers will be implemented on or about the close of business on June 24, 2011.
The decision to merge these funds will allow Franklin Templeton to streamline its product offering, allocate operational costs across a larger portfolio base and provide the continuing funds with a portfolio of greater value allowing for increased portfolio diversification opportunities.
Securityholders of each of the Terminating Funds will receive an information circular in May 2011 detailing the particulars of the proposed mergers.
Franklin Templeton Investments
Franklin Templeton Investments Corp. is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Bissett, Mutual Series, Fiduciary Trust and Darby investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and approximately US$693 billion (C$673 billion) in assets under management as of February 28, 2011.
Franklin Templeton Investments Corp. has more than 600 employees providing services to more than one million unitholder accounts and more than 200 pension funds, foundations and other institutional investors. Additional information on Franklin Templeton Investments Corp. can be found at www.franklintempleton.ca.
Keywords: Acquisitions, Banking, Finance, Financial Services, Investing, Investment Management, Investments Corp, Mergers.
This article was prepared by Economics & Business Week editors from staff and other reports. Copyright 2011, Economics & Business Week via VerticalNews.com.

Indexing (document details)
Subjects: Acquisitions & mergers, Investment policy, Institutional investments, Growth funds, Regulatory approval

Companies: Franklin Templeton Investments (NAICS: 525910 )

Author(s): Anonymous
Document types: Expanded Reporting
Publication title: Economics & Business Week. Atlanta: Apr 16, 2011. pg. 477

Source type: Periodical
ISSN: 19456883
ProQuest document ID: 2312124581
Text Word Count 307
Document URL: http://proquest.umi.com/pqdweb?did=2312124581&sid=1&Fmt=3&clientId=68815&RQT=309&VName=PQD