Franklin Templeton Canada is renaming and repositioning three funds as it makes use of specialist investment managers focused on sustainability, the firm said Monday.
On May 27, the Franklin Strategic Income Fund will be repositioned as the Franklin Brandywine Global Sustainable Income Optimiser Fund. The fund will invest in fixed income securities globally that have been assessed as sustainable investments, the firm said.
On June 7, the Templeton International Stock Fund and Templeton International Stock Fund II will be repositioned as the Franklin ClearBridge Sustainable International Growth Fund and the Franklin ClearBridge Sustainable International Growth Fund II, respectively. The funds will invest in international companies outside North America that have been deemed sustainable.
Last year, Franklin Templeton acquired Legg Mason for US$4.5 billion, giving Canadian investors access to investment managers Brandywine Global and ClearBridge Investments.
The acquisition is “significantly transforming” Franklin Templeton’s Canadian business, said Duane Green, president and CEO of Franklin Templeton Canada, in a release.
“We are evolving our product offerings to address and anticipate the needs and interests of investors, and this is only the beginning,” Green said. “We are looking to further draw upon our experienced specialist investment managers globally, to bring Canadians the broad choice of world-class investment expertise and solutions.”
The firm is also reducing fees for all series of the renamed funds.