Franklin Templeton portfolio-shielding ETF to become transparent
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Franklin Templeton’s only portfolio-shielding exchange traded fund will make its holdings fully public by the middle of December, filings show.
The fund’s board voted to change the $3.2mn ClearBridge Focus Value ESG ETF from an ActiveShares non-transparent ETF to a conventional transparent ETF by December 16, the firm has disclosed.
She did not respond to requests for comment about why the firm had decided to make the ETF fully transparent.
The fund had outflows of just $14,900 during the year ended August 31, Morningstar Direct data show. It carries a net expense ratio of 49 basis points that will not change, according to the filing.
It launched in 2020 as the ClearBridge Focus Value Fund and was renamed in May 2021 to highlight its environmental, social and governance investment mandate.
This story originally appeared on: Financial Times - Author:Sonya Swink
