Templeton makes changes

Toronto-based Franklin Templeton Investments Corp. has approved mergers for six of its corporate-class funds. The changes are in response to federal tax law changes as of Dec 31, 2014, which removed eligibility for yield-class funds to have income treated as capital gains via forward contracts. Five corporate-class funds will merge into their corresponding mutual fund trust versions, which have investment objectives that are substantially similar to those of the funds being terminated. These five fund mergers include: Franklin Bissett Bond Yield Class and Franklin Bissett Bond Corporate Class will merge into Franklin Bissett Bond Fund; Franklin Bissett Canadian Short Term Bond Yield Class will merge into Franklin Bissett Canadian Short Term Bond Fund; Franklin Bissett Corporate Bond Yield Class will merge into Franklin Bissett Corporate Bond Fund; and Templeton Global Bond Hedged Yield Class will merge into Templeton Global Bond Fund. The sixth fund affected by the legislative changes, Franklin Bissett Money Market Yield Class, will merge into its corresponding corporate-class version, Franklin Bissett Money Market Corporate Class.

(cohara@investmentexecutive.com).