TORONTO, March 26, 2013 /CNW/ - In the federal government's budget proposal on March 21, it was announced that returns on Yield Class funds earned from the reference funds via forward contracts would be treated as ordinary income rather than capital gains. Since tax-efficient returns earned by Yield Class funds may no longer be available, Franklin Templeton is currently assessing the implications of the budget proposal and alternatives for its Yield Class funds. In the meantime, the Yield Class funds are closed to new and additional investment while waiting on definitive legislative guidance regarding the budget proposal. Franklin Templeton U.S. Money Market Yield Class had previously been capped to new investment as of February 14, 2013, in anticipation of the fund's wind-up on or about April 16, 2013. To ensure that investors still have an alternative money market investment solution available in the Corporate Class structure following the capping of the Yield Class funds, Franklin Templeton will be reversing its recent decision to wind-up Franklin Templeton Money Market Corporate Class, which had also been scheduled to occur on or about April 16, 2013. The existing cap on Franklin Templeton Money Market Corporate Class will be removed after the close of business on March 26, 2013. The Yield Class and Corporate Class funds are all part of Franklin Templeton's Corporate Class structure, which allows investors to switch between funds and portfolios while deferring any taxable dispositions until they redeem from the structure. Investors are encouraged to speak to their investment advisor about these Yield Class changes and their options. About Franklin Templeton Investments Franklin Resources, Inc. (NYSE: BEN) is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over US$813 billion (over C$838 billion) in assets under management as of February 28, 2013. Franklin Templeton Investments Corp. has more than 600 employees providing services to more than one million unitholder accounts and more than 200 pension funds, foundations and other institutional investors. Additional information on Franklin Templeton Investments Corp. can be found at franklintempleton.ca. SOURCE Franklin Templeton Investments Corp.