Franklin Templeton to Close Canadian Core Equity Fund

par Andrew Rickard | January 27 2015 01:02PM

Franklin Templeton has decided to terminate its Canadian Core Equity Fund. The fund closure will take place on or around March 27, 2015. Franklin Templeton says that the decision was made in order to "streamline" the investment options available under its Franklin Quotential and Franklin LifeSmart multi-asset class portfolios.

"This fund has been used exclusively as an investment option for Franklin Quotential and Franklin LifeSmart portfolios," says the fund company. "As other current investment options sufficiently cover the Canadian equity asset class, it was determined that Franklin Templeton Canadian Core Equity Fund can be eliminated."

Once the fund termination is complete, the portfolio managers intend to reallocate all assets currently invested in in the fund into a combination of funds already held within the Franklin Quotential and Franklin LifeSmart portfolios.