TORONTO, Feb. 20, 2013 /CNW/ - Franklin Templeton Investments Corp. today announced proposed changes to the investment objectives of Bissett Focus Balanced Fund and Bissett Focus Balanced Corporate Class, which will be voted on at special meetings of securityholders on or about April 22, 2013 in Toronto. The new investment objectives of the funds will provide investors access to a diversified mix of Canadian equities across market capitalizations. The equity investments will be complemented by Canadian and global fixed income opportunities across multiple sectors, which will help reduce portfolio volatility and enhance risk-adjusted returns.
Franklin Templeton's Calgary-based Bissett Investment Management team provides investors with strong expertise across market capitalizations and the yield spectrum. The balanced fund will be co-managed by four of Bissett's Canadian equity and fixed income experts. Garey Aitken, chief investment officer and co-lead manager of Bissett Canadian Equity Fund, and Ralph Lindenblatt, co-lead manager of Bissett Small Cap Fund, will oversee the funds' equity holdings; while Tom O'Gorman, director of fixed income and co-lead manager of Bissett Bond Fund, and Darcy Briggs, co-lead manager of Bissett Canadian Short Term Bond Fund, will be in charge of the funds' fixed income holdings.
Proposed investment objectives, names and management fees
If securityholders approve the proposed changes to the investment objectives of Bissett Focus Balanced Fund and Bissett Focus Balanced Corporate Class, the funds' names will also be changed and management fees reduced on or about May 13, 2013.If approved, Bissett Focus Balanced Fund will change its investment objective to seek a balance of current income and long-term capital appreciation by investing primarily in a diversified portfolio of Canadian equity and fixed income securities, and to a lesser degree, in fixed income securities issued around the world. This marks a broadening of the fund's objective to a multi-cap, multi-sector approach that is backed by Bissett's investment team, which has a strong track record of absolute, relative and risk-adjusted returns. If the change in objective is approved, the fund's name will be changed to Franklin Bissett Canadian All Cap Balanced Fund and management fees for Series A, F, I and T of the fund will be reduced.