The Securities Commission granted an extension of the lapse date for the prospectus of the Franklin Global Aggregate Bond Fund (the Fund), managed by Franklin Templeton Investments Corp. (the Filer). The extension aligns the Fund’s prospectus renewal with that of other funds managed by the Filer, facilitating operational efficiency and cost savings.
Key points include:
– The Filer is a registered investment fund manager and is not in default of any securities legislation.
– The Fund is an open-ended mutual fund trust and a reporting issuer in Canada, with its securities currently distributed under a prospectus dated April 27, 2020.
– The original lapse date for the prospectus was April 27, 2021. The Filer sought to extend this to June 26, 2021, to coincide with the renewal of the prospectus for other Franklin Templeton Funds.
– The extension is minimal and not seen as disadvantageous to investors.
– No material changes have occurred in the Fund’s affairs since the current prospectus, which continues to provide accurate information.
– Should any material changes occur, the prospectus will be amended as required by legislation.
– The extension will not affect the currency or accuracy of the information in the prospectus, nor will it prejudice the public interest.
The decision is underpinned by the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 62(5), and is consistent with the public interest and securities legislation requirements. The extension was granted, allowing the Fund to renew its prospectus on the administratively beneficial date, thereby aligning with the renewal of other funds managed by the Filer.