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 |
|
Wednesday, March 15, 2000 Palladium Worth More Than Gold Franklin Templeton Distributors said it will change the name and investment focus of the Franklin Gold Fund. The fund will be changed from Franklin Gold Fund to Franklin Gold and Precious Metals Fund, effective April 10, 2000. Along with the name change its classification will be switched from diversified to non-diversified.
Changing from a diversified to a non-diversified fund will allow the managers to hold more than 5% in some investments. The focus change is a response in the decline of gold prices which has also lead to a consolidation of companies in the industry. A letter to the board of directors said, "The declining gold price over the past few years has resulted in a decline in the number of investible companies that meet the liquidity requirements of the fund." Martin Wiskemann, who co-manages the fund said, "The restriction hindered the fund's ability to compete with its non-diversified peers, given the limited number of companies available in the gold sector. These changes will improve our ability to manage the fund in the best interests of our shareholders." Printed from: MFWire.com/story.asp?s=25597 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |
