Late Friday there was an absorbing anatomy “RW” filed with the SEC for a “withdrawn balance registration.” There was an aboriginal filing to accompany Templeton Russia/Eurasia Armamentarium accessible via an antecedent accessible alms in what was apparently a closed-end alternate fund.
What is odd is not the abandonment of a closed-end fund. It is the date: originally filed with the Commission on October 6, 1997. As per the filing:
Before this was filed, Templeton had already brought its Templeton Russia and East European Armamentarium Inc. (NYSE: TRF) accessible in 1995 and that may accept been the aboriginal advance agent that gave aqueous trading possibilities for U.S. investors to advance in Russia (and Eastern Europe). It had additionally brought its Templeton Dragon Armamentarium Inc. (NYSE: TDF) accessible in 1994 as one of the aboriginal cartage that accustomed U.S. investors a adventitious to advance in Chinese companies.
All of these closed-end funds are run by Franklin Resources, Inc. (NYSE: BEN), which now operates as Franklin Templeton Investments. These funds additionally abatement beneath the awning of Mark Mobius, who is advised one of the avant-garde fathers of arising bazaar advance and who was accustomed acclaim for saying, “invest back there is claret in the streets.”
This added armamentarium looks like it was apparently filed on the heels of the acknowledged barrage of these added two advance vehicles. There may accept been worries that there would be too abundant overlap in the anatomy or allocation of these funds. Or it could accept been the added archetypal reasoning: the paperwork got absent or abandoned about.
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Jon C. OggApril 6, 2008
Jon Ogg produces the Special Situation Advance Newsletter and he can be accomplished via email at [email protected]; he does not own balance in the companies he covers.
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