Franklin Templeton Canada Announces Final Valuations for FLBA and FLRM
TORONTO, Dec. 14, 2023 /CNW/ - Franklin Templeton Canada today announced the final net asset value (NAV) and net proceeds for Franklin Core Balanced Active ETF (FLBA) and Franklin Risk Managed Canadian Equity Active ETF (FLRM).
FLBA and FLRM were delisted from the Toronto Stock Exchange (TSX) as of market close on December 7, 2023, and have been terminated at the close of business on December 13, 2023. The ETF terminations were previously announced on October 12, 2023.
Effective December 8, 2023, Franklin Templeton Canada converted FLBA and FLRM's holdings to cash (in Canadian dollars), and the remaining assets—after paying or providing for the ETFs' liabilities and obligations—will be distributed to the ETFs' unitholders on a pro rata basis as detailed in the table below.
Terminating Fund | Ticker | Final NAV | Net ($) |
Franklin Core Balanced Active ETF | FLBA | 22.902547 | 22.902547 |
Franklin Risk Managed Canadian Equity Active ETF | FLRM | 22.527507 | 22.527507 |
Each fund's unitholders of record on December 13, 2023, received the final notional distributions (in Canadian dollars) as detailed in the table below.
Terminating Fund | Ticker | Income | Capital Gain ($) | Total ($) |
Franklin Core Balanced Active ETF | FLBA | 0.166570 | - | 0.166570 |
Franklin Risk Managed Canadian Equity Active ETF | FLRM | 0.194665 | - | 0.194665 |
The notional reinvested distributions were not paid in cash but reinvested in additional units and reported as taxable distributions, with a corresponding increase in each unitholder's adjusted cost base of their units of the respective Franklin ETF. The additional units were immediately consolidated so that the number of units held by each unitholder, the number of units outstanding, and the net asset value of each terminating fund did not change as a result of the reinvested distribution.
About Franklin Templeton
Franklin Resources, Inc. [NYSE: BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. In Canada, the company's subsidiary is Franklin Templeton Investments Corp., which operates as Franklin Templeton Canada. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over US$1.4 trillion (over CAN$1.9 trillion) in assets under management as of November 30, 2023. For more information, please visit franklintempleton.ca and connect with Franklin Templeton on Twitter, Facebook and LinkedIn, and read the Beyond Bulls & Bears blog.
Commissions, management fees and expenses all may be associated with investments in ETFs. Investors should carefully consider an ETF's investment objectives and strategies, risks, fees and expenses before investing. The prospectus and ETF facts contain this and other information. Please read the prospectus and ETF facts carefully before investing. ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF's net asset value. Brokerage commissions and ETF expenses will reduce returns. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.
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SOURCE Franklin Templeton Investments Corp.
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