Franklin Templeton Canada announced July 10 that it will terminate Franklin Liberty Senior Loan ETF (CAD-Hedged) (FLSL) on or around Sept. 17.
Effective July 10, no further direct subscriptions for units of FLSL will be accepted. Units of FLSL will continue to be listed on the Toronto Stock Exchange until delisting occurs at the close of business on or around Sept. 14.
The company says that on or around Sept. 17, it will sell and convert FLSL's portfolio to cash, and the remaining assets – after paying or providing for the ETF's liabilities and obligations – will be distributed to the ETF's unitholders on a pro rata basis. Unitholders who do not sell or redeem their units before the close of business on Sept. 14 will receive cash representing their proportionate share of FLSL's assets on or around Sept. 18, says Franklin Templeton.