Toronto-based Franklin Templeton Canada plans to close the Franklin Liberty Senior Loan ETF (CAD-Hedged), effective Sept. 17.
The decision was made by the company as part of a regular review of its investment suite. The reviews are done to ensure funds remain “competitive and positioned to meet the evolving needs of investors and advisors,” a release said.
Units of the fund will remain on the Toronto Stock Exchange until September but, effective Friday, no further direct subscriptions will be accepted.
In September, the fund’s portfolio will be converted to cash, used first to pay for fund liabilities and obligations, and then remaining funds will be distributed to unitholders.