TORONTO, Nov. 26, 2020 /CNW/ - Franklin Templeton Canada today announced that it will terminate Franklin K2 Alternatives Fund, which is offered to Canadian retail investors, on or around February 5, 2021. As of the close of business today, November 26, 2020, the fund will cease offering units for purchase to new and current investors.
This announcement does not impact Franklin K2 Multi-Strategy Alternatives Fund, a private pooled fund, which remains available for Canadian accredited investors.
Impacted Franklin K2 Alternatives Fund investors who prefer to switch into another Franklin Templeton fund or redeem their investments ahead of the fund's termination date are advised to work with their financial advisor to submit their instructions on or before February 4, 2021. Franklin Templeton's client service team is also available to assist at 1-800-387-0830 or email@example.com.
At the close of business on February 5, 2021, any remaining investors who hold Franklin K2 Alternatives Fund in client name registered accounts will have their investments switched into Franklin Bissett Money Market Fund, and those who hold the fund in all other accounts will have their investments liquidated at fair market value.
Investors will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the fund. All costs and expenses associated with the termination of the fund will be borne by Franklin Templeton Canada.
Franklin Templeton Canada will provide a notice of fund termination to each investor.
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 with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and approximately US$1.4 trillion (approximately CA$1.9 trillion) in assets under management as of October 31, 2020. For more information, please visit franklintempleton.ca and connect with Franklin Templeton on Twitter, Facebook and LinkedIn, and read the Beyond Bulls & Bears blog.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
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SOURCE Franklin Templeton Investments Corp.
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