Franklin Templeton, a subsidiary of California-based Franklin Resources Inc., said Monday it will rename 13 of its exchange-traded funds offered in the U.S. as a part of a broader repositioning.
The company will be retiring the LibertyShares, Liberty and LibertyQ names from its platform as of Aug. 1, according to the company.
After launching its first ETF nearly nine years ago, Franklin Templeton has expanded its roster to more than 50 funds in the U.S. It’s now looking to “better leverage [the] firm's more established Franklin Templeton brand,” said Jennifer Ball, Franklin Templeton’s head of U.S. marketing, in a release.
Last month, the company listed its Franklin Responsibly Sourced Gold ETF (FGLD) on NYSE Arca, positioning it as a low-cost, environmentally compliant alternative for investors seeking diversification from stocks and bonds.
FGLD gives investors exposure to gold refiners that “are required to demonstrate their efforts to respect the environment and combat money laundering, terrorist financing and human rights abuses” in accordance with the London Bullion Market Association's Responsible Gold Guidance.
In May, Franklin Templeton announced its plans to reposition its four index-based ETFs in August, which would include shifting the ticker symbols, investment goals, strategies and policies of each fund.
Franklin Templeton’s global ETF platform has about $12 billion in assets under management at the end of June. The company didn’t immediately respond to a request for comment.
Contact Daria Solovieva at [email protected]