Franklin Templeton Canada to Wind Up Alternatives Fund
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 firstname.lastname@example.org.
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
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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