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Three Templeton funds tweak management fees, investment strategies
By Toni Weeks
San Diego, Dec. 19 - Templeton Income Trust announced changes to the fees and investment strategy of three of its funds in a 497 filing with the Securities and Exchange Commission.
The Templeton Global Bond Fund dropped some operating expenses, decreasing its total annual fund operating expenses by 0.03% for class A, class C, class R and advisor class shares. Those fees are now 0.89%, 1.29%, 1.14% and 0.64% of the value of the investment, respectively.
The Templeton Global Total Return Fund also dropped its management fees by 0.03% and other fees by 0.04%, which reduces its total annual fund operating expenses to 1.05%, 1.45%, 1.3% and 0.8% for class A, class C, class R and advisor class shares, respectively.
The Templeton International Bond Fund dropped some of its expenses by 0.17% for all share classes. But because of the investment manager's agreement to cap expenses to 0.74%, the decrease in the total annual fund operating expenses after the fee waiver was only 0.01%. Those fees are now 1.06%, 1.41%, 1.26% and 0.76% for class A, class C, class R and advisor class shares, respectively.
All of the funds expanded their investment strategies, allowing investments in inflation-indexed securities as a type of bonds issued by governments and government agencies worldwide that the funds invest in. The funds also defined their use of currency-related transactions involving derivative instruments, saying that they will focus on currency and cross currency forwards but may also use currency and currency index futures contracts.
The funds' investment manager is San Mateo, Calif.-based Franklin Advisers, Inc.
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