Franklin Templeton adds Reits to Lux-based Sicav

Franklin Templeton is to launch a Global Reits fund as part of its Luxembourg-based Sicav. It is still awaiting regulatory approval from Luxembourg but is to be managed by Jack Foster. Franklin Templeton will then add a sterling share class, apply for distributor status and market the fund in the UK as well as continental Europe. Reits are publicly listed vehicles that usually have to distribute 90% of income. While investors are generally subject to their personal rate of tax on dividends, the capital gains and income within the Reit are tax-free. An advantage of a global Reits fund, ...