MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, February 22, 2000 Franklin Closes the Door Franklin Templeton Distributors is closing its small-cap growth fund and biotechnology fund to new investors.
After the fund closes its name will be changed to Franklin Small-Cap Growth Fund I and the Franklin Small Cap Growth Fund II will be introduced a day later. The new fund will have the same portfolio management team and investment strategy as the existing fund but the individual securities will differ. The Franklin Biotechnology Discovery Fund, which has reached $500 million in assets closed to investors on February 7, 2000. There are no current plans to open a mirror fund, a spokesperson for Franklin Templeton said. Franklin recently reopened the Franklin Balance Sheet Investment Fund to new investors (MFWire 2/1). The fund was closed to new investments in 1996, about six years after it opened. The fund had an average annualized total return of 13.5%, compared with a total return of 13.7% for all Small-Cap Value funds. However, the fund has not outperformed the S&P 500 for the past 5 years. Printed from: MFWire.com/story.asp?s=25345 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |
