Franklin Templeton Announces Reorganization of Western Asset Total Return ETF into Western Asset Bond ETF
Franklin Templeton has announced the planned reorganization of the Western Asset Total Return ETF (WBND) into the Western Asset Bond ETF (WABF). This process involves transferring WBND's assets to WABF in exchange for WABF shares, which will be distributed to current WBND shareholders. The reorganization is subject to shareholder approval at a meeting scheduled for December 13, 2024. If approved, the reorganization is expected to be completed in the first quarter of 2025. Shareholders of WBND are anticipated to receive a combined prospectus/proxy statement with reorganization details in the fourth quarter of 2024.
Franklin Templeton ha annunciato la prevista ristrutturazione dell'ETF Western Asset Total Return (WBND) in favore dell'ETF Western Asset Bond (WABF). Questo processo prevede il trasferimento degli attivi di WBND a WABF in cambio delle azioni di WABF, che saranno distribuite agli attuali azionisti di WBND. La ristrutturazione è soggetta all'approvazione degli azionisti in un incontro programmato per il 13 dicembre 2024. Se approvata, la ristrutturazione dovrebbe essere completata nel primo trimestre del 2025. Si prevede che gli azionisti di WBND riceveranno un prospetto combinato/una dichiarazione di delega con i dettagli della ristrutturazione nel quarto trimestre del 2024.
Franklin Templeton ha anunciado la planificación de la reestructuración del ETF Western Asset Total Return (WBND) en el ETF Western Asset Bond (WABF). Este proceso implica la transferencia de los activos de WBND a WABF a cambio de acciones de WABF, que se distribuirán a los accionistas actuales de WBND. La reestructuración está sujeta a la aprobación de los accionistas en una reunión programada para el 13 de diciembre de 2024. Si se aprueba, se espera que la reestructuración se complete en el primer trimestre de 2025. Se anticipa que los accionistas de WBND recibirán un prospecto combinado/declaración de apoderado con los detalles de la reestructuración en el cuarto trimestre de 2024.
프랭클린 템플턴이 웨스턴 애셋 총 수익 ETF (WBND)의 재조직 계획을 웨스턴 애셋 본드 ETF (WABF)로 발표했습니다. 이 과정은 WBND의 자산을 WABF로 이전하고 그 대가로 WABF 주식을 받아 현재 WBND 주주에게 배포하는 방식으로 진행됩니다. 재조직은 주주 승인을 받는 조건이며, 회의는 2024년 12월 13일에 예정되어 있습니다. 승인이 될 경우, 재조직은 2025년 1분기에 완료될 것으로 예상됩니다. WBND의 주주들은 2024년 4분기에 재조직 세부사항과 함께 결합된 설명서/위임장을 받을 것으로 예상됩니다.
Franklin Templeton a annoncé la planification de la réorganisation de l'ETF Western Asset Total Return (WBND) vers l'ETF Western Asset Bond (WABF). Ce processus implique le transfert des actifs de WBND vers WABF en échange d'actions de WABF, qui seront distribuées aux actionnaires actuels de WBND. La réorganisation est soumise à l'approbation des actionnaires lors d'une réunion prévue pour le 13 décembre 2024. Si elle est approuvée, la réorganisation devrait être achevée au premier trimestre de 2025. Les actionnaires de WBND devraient recevoir un prospectus combiné/un document de procuration avec les détails de la réorganisation au quatrième trimestre de 2024.
Franklin Templeton hat die geplante Umstrukturierung des Western Asset Total Return ETF (WBND) in den Western Asset Bond ETF (WABF) angekündigt. Dieser Prozess umfasst die Übertragung der Vermögenswerte von WBND auf WABF im Austausch gegen WABF-Anteile, die an die aktuellen WBND-Anteilseigner verteilt werden. Die Umstrukturierung steht unter dem Vorbehalt der Genehmigung durch die Aktionäre in einer für den 13. Dezember 2024 anberaumten Sitzung. Bei Genehmigung wird die Umstrukturierung voraussichtlich im ersten Quartal 2025 abgeschlossen sein. Es wird erwartet, dass die WBND-Aktionäre im vierten Quartal 2024 ein kombiniertes Prospekt/Stimmzettel mit Details zur Umstrukturierung erhalten.
- Potential for improved operational efficiency through ETF consolidation
- Shareholders to receive equivalent value in new ETF shares
- Reorganization subject to shareholder approval, introducing uncertainty
- Potential for fractional shares to be liquidated, possibly triggering taxable events for some investors
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
All investments involve risks, including possible loss of principal. The fund is newly organized, with a limited history of operations. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Active management does not ensure gains or protect against market declines. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Active and frequent trading may increase a shareholder's tax liability and transaction costs. These and other risks are discussed in the fund’s prospectus.
Before investing, carefully consider a fund’s investment objectives, risks, charges and expenses. You can find this and other information in each prospectus, or summary prospectus, if available, at www.franklintempleton.com. Please read it carefully.
Franklin Distributors, LLC. Member FINRA/SIPC. Western Asset Management Company, LLC and Franklin Distributors, LLC are Franklin Templeton affiliated companies.
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Franklin Templeton Corporate Communications:
Lisa Tibbitts, (904) 942-4451, Lisa.Tibbitts@franklintempleton.com
Source: Franklin Templeton
FAQ
When is the shareholder meeting for the WBND reorganization scheduled?
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When is the Franklin Templeton ETF reorganization expected to be completed?
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