SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Templeton today announced the reorganization of Western Asset Total Return ETF (WBND) into the Western Asset Bond ETF (WABF).
The reorganization of WBND into WABF includes the transfer of substantially all of WBND’s assets, net of any liabilities, to WABF in exchange for shares of WABF. Shares of WABF will be distributed to current shareholders of WBND, and cash will be distributed in lieu of fractional shares, if applicable.
The reorganization is subject to the approval of WBND shareholders; the shareholder meeting is scheduled for December 13, 2024. If approved, it is anticipated that the reorganization will be completed in the first quarter of 2025.
It is anticipated that, in the fourth quarter of 2024, shareholders of WBND will receive a combined prospectus/proxy statement with details of the reorganization.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of July 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.
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