Franklin Templeton Investments Corp. today announced the launch of two new funds, Bissett Income Trust and Dividend Fund and Bissett Canadian Short Term Bond Fund.

The company says both funds are designed to meet the growing demand for income producing investments that provide regular monthly distributions.

Bissett Income Trust and Dividend Fund currently has a target asset mix of 60% income trusts and 40% dividend paying equities. Investors have the potential to benefit from distribution payouts from income trusts and dividends combined with potential capital appreciation from equities.

“This new income fund also provides investors a diversified stream of monthly income, with the possibility of return of capital, dividend income and interest income distributions,” said Don Reed, president and CEO, Franklin Templeton Investments, in a news release.

“There are many interesting opportunities in the Canadian income trust market,” said Leslie Lundquist, portfolio manager of Bissett Income Fund and the income trust portion of the new fund. “The key is to take a bottom-up, conservative approach and find the income trusts that will provide stable and growing distributions over time.”

Juliette John, portfolio manger of the Bissett Dividend Income Fund, will manage the 40% Canadian equity component of the fund. The equity portion will invest in dividend paying Canadian securities.

Franklin Templeton’s second new offering is a fund designed for investors who want to preserve their capital while seeking higher returns than money market funds or GICs. The Bissett Canadian Short Term Bond fund will invest primarily in fixed income securities with maturities of less than five years. The securities can include Canadian federal and provincial government bonds, corporate bonds, debentures and short-term notes.

Guy LeBlanc, manager of the Bissett Bond Fund and director of Fixed Income at Bissett will oversee the fund.

http://www.newswire.ca/en/releases/archive/December2003/22/c6128.html