Franklin Templeton Canada announced on November 26, 2024, the discontinuation of the proposed reorganization of Western Asset Total Return ETF (WBND) into Western Asset Bond ETF (WABF). This decision was made because WBND failed to receive the necessary shareholder approval for the reorganization.
In addition to WBND, Franklin Templeton Canada also announced estimated cash distributions for Franklin International Multifactor Index ETF (FLDM) and Franklin Global Dividend Quality Index ETF (FLGD), indicating their termination. These terminations represent a reduction in the firm's Canadian ETF product lineup.
The failure to secure shareholder approval for the ETF reorganization and the subsequent termination of multiple funds reflect challenges in consolidating and optimizing certain product offerings. This move will result in a narrower selection of ETFs available to Canadian investors from Franklin Templeton.
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