NEW YORK–(BUSINESS WIRE)–Effective today shortly before 4 am ET, NYSE Arca halted trading of the Franklin FTSE Russia ETF (FLRU).
Franklin Templeton supports NYSE Arca’s decision, given FLRU’s concentrated exposure to Russia and challenges such as the closure of the country’s securities market and its capital controls.
As the Russia-Ukraine situation remains fluid, it is quite difficult to gauge how long geopolitical tensions may endure. While much uncertainty remains, we take seriously the stewardship of fund assets and value our clients’ trust in this tumultuous environment.
Franklin Templeton will provide further updates to market participants on future developments related to FLRU.
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 155 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 boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and over $1.5 trillion in assets under management as of January 31, 2022. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.
Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with these markets’ smaller size, lesser liquidity and lack of established legal, political, business and social frameworks to support securities markets. Investments in securities of Russian issuers involve risks that are specific to Russia, including certain legal, regulatory, political and economic risks. Because the fund invests its assets primarily in companies in a specific country or region the fund may also experience greater volatility than a fund that is more broadly diversified geographically. As a non-diversified fund, the fund may invest in a relatively small number of issuers which may negatively impact the fund’s performance and result in greater fluctuation in the value of the fund’s shares. These and other risks are discussed in the fund’s prospectus.
Before investing, carefully consider the Fund’s investment goal, risks, charges and expenses. You can find this and other information in the prospectus, and summary prospectus, at www.franklintempleton.com. Please read the prospectus carefully before investing.
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Franklin Templeton Corporate Communications:
Pholida Barclay, (212) 632-3204, [email protected]