Global asset manager Franklin Templeton and Singaporean bank OCBC have partnered to launch class Q shares – Q (Mdis) USD and Q (Mdis) SGD-H1 – for its flagship Franklin Income Fund, which will be offered exclusively to OCBC clients in Singapore.
Designed to promote long-term investing, the new class Q shares on offer have been launched with 0% initial sales charges upon subscription, and are available in US and Singapore dollars.
Additional fees will apply on early redemption within three years of purchase, and the shares will be converted automatically to its corresponding class A after the expiry of the three-year period.
The shares, whose subscription period will close on September 24, aim to distribute dividend on a monthly basis.
“We are delighted to bring our flagship multi-asset Franklin Income Fund via this new share class to investors in Singapore,” says Clement Lee, the asset manager’s head of retail sales for Southeast Asia. “Exclusively created for OCBC, this new share class is tailored to encourage long-term investing.”