Franklin Templeton Investment Funds is set to close two sterling share classes on its $765m Templeton BRIC fund, co-managed by Mark Mobius and Dennis Lim.
The W and A sterling-denominated share classes will shut on 16 December as a result of their small size. The firm said investors who have not sold their holdings in those share classes by the closure date will have them redeemed by the fund manager. However, the Luxembourg-registered SICAV will remain accessible to investors via other currency share classes. A statement from the company said: "After careful analysis and review, the board of directors of Franklin Templeton Investment Funds has taken the decision to close the W (Acc) GBP and A(Ydis) GBP share classes of the Templeton...
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