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Franklin International Small Cap Fund will re-open to investors

https://www.sec.gov/Archives/edgar/data/1124459/000137949121001970/filing223986418.htm

Excerpt:

Franklin International Small Cap Fund

The Fund will reopen to new investors on June 1, 2021. Prior to that date and since June 3, 2013, the Fund was closed to new investors, with limited exceptions that permit the following categories of investors to continue to open new accounts in the Fund: (1) Trustees and officers of the Trust; (2) members of the Fund’s portfolio management team; (3) 401k plans that have signed a letter of intent (dated prior to the Fund’s closure) to invest in the Fund; (4) participants in any 401k plan that is already a shareholder of the Fund or has provided Management with a letter of intent (dated prior to the Fund’s closure) to invest in the Fund; (5) clients of discretionary investment allocation programs where such programs had investments in the Fund prior to the Fund’s closure; and (6) other Franklin Templeton funds. The Fund reserves the right to modify this policy at any time.

Comments

  • Leaving it closed would be a gift to unsuspecting investors. Even M*’s automatic writing, i.e., fund analysis, is very damning.

    The DFA renegades who set up shop under American Century’s umbrella and called themselves Aventis have a very promising International Small Cap Value etf in AVDV.

  • msf
    edited May 3
    This fund is being completely changed. When it reopens, it will be with a new subadvisor, Clearbridge (Legg Mason, now owned by Franklin Templeton). Until then, the fund (with its 1* rating) will continue to be managed by Franklin Templeton.

    Based on the managers named, one may expect it to be a sibling, if not a clone, of 3* Clearbridge Int'l Small Cap (LCOAX). F-T is significantly reducing fees on the Franklin fund to roughly match that of the Clearbridge fund.
  • Thanks for that, @msf. Maybe the refurbished fund will work.
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