Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Seven Years In, a $51MM-AUM Fund Transforms Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 6, 2023

Seven Years In, a $51MM-AUM Fund Transforms

Reported by Neil Anderson, Managing Editor

The team at a publicly traded, $1.4-trillion-AUM (as of September 30) asset manager has transformed a seven-year-old fund that has $51.28 million in AUM (as of yesterday).

Patrick H.E. O'Connor
Franklin Templeton
Global Head of ETFs
Today, Patrick O'Connor, head of global ETFs at Franklin Templeton [profile], and Matt Moberg, senior vice president, confirmed that the San Mateo, California-based firm has officially converted its Franklin Focused Growth Fund into the brand new Franklin Focused Growth ETF (FFOG), as planned. The new ETF listed today on the CBOE, less than 10 months after the Franklin folks officially unveiled the conversion plans.

FFOG is a series of the Franklin Templeton ETF Trust (while the predecessor mutual fund was a series of the Franklin Custodian Funds). Franklin Advisers, Inc. remains the investment advisor, and Moberg, who PMed the actively mutual fund since inception on April 3, 2016, will stay on to PM the active ETF.

In ETF form, the transformed fund now comes with an expense ratio of 55 basis points. That replaces the predecessor fund's five share classes: A shares with a max 550bps load and a 110bps expense ratio; C shares with a max 100bps deferred load and a 135bps expense ratio; R6 shares with a 72bps expense ratio; and Advisor shares with an 85bps expense ratio.

State Street Bank and Trust Company takes over as custodian, dividend-paying agent, sub-administrator, and transfer agent of FFOG. They succeed Bank of New York Mellon's mutual funds division (who served as custodian of the predecessor fund), Franklin Templeton Investor Services, LLC (who served as dividend paying agent and transfer agent), and JPMorgan Chase Bank, N.A. (who served as sub-administrator).

FFOG's prospectus does not list who will handle securities lending for the ETF (though State Street, as custodian and more, is potentially well-positioned to serve in that role, too). The predecessor fund's securities lending agents were BNY Mellon and Goldman Sachs Agency Lending.

Moberg describes the converted ETF as living "at the intersection of new ideas and long-term investment opportunities."

"We continue to build our active ETF platform by tapping some of the firm's strongest investment capabilities and high-conviction approaches," O'Connor states.

FFOG's other service providers remain the same as its predecessor funds' providers. Those providers include: Franklin Distributors as distributor; Franklin Templeton Services, LLC (FT Services) as administrator; and PricewaterhouseCoopers LLP as independent accounting firm. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. Nicsa webinar - New research by Alex Edmans and the Diversity Project - The Power of diverse thinking: How the best teams make decisions, July 1
  2. MFDF Director Discussion Series - Open Forum, July 9
  3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  8. MFDF webinar - ETF Conversions, July 17
  9. MFDF Director Discussion Series - Open Forum (New York), July 22
  10. MFDF Ask Anything webinar - AI Edition, July 24
  11. MFDF webinar - Use of Derivatives by RICs, July 29
  12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  13. Samfund Soiree Boston 2025, August 21
  14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  15. ICI ETF Conference, Sep 8-10
  16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  24. 10th annual Fuse Forum, October 8
  25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  26. 2025 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use