Franklin Templeton ETF Trust
10/17/2024 | Press release | Distributed by Public on 10/17/2024 08:44
Prospectus by Investment Company - Form 497
ftetftrusteesup-gofsa7.htm - Generated by SEC Publisher for SEC Filing
* Ms. Baumann was elected by shareholders of the Trust to serve as Trustee effective October 8, 2024.
GOF-SA7 10/24
FRANKLIN TEMPLETON ETF TRUST
FRANKLIN ETF TRUST
FRANKLIN TEMPLETON TRUST
SUPPLEMENT DATED OCTOBER 17, 2024
TO THE STATEMENT OF ADDITIONAL INFORMATION
OF EACH FUND LISTED ON SCHEDULE A
Effective October 8, 2024, the Statement ofAdditional Information (SAI) for each of the Funds listed on ScheduleA hereto is amended as follows:
I. For each series listed on Schedule A hereto, the information for Jennifer M. Johnson in the "Officers and Trustees" section of each SAI is hereby removed.
II. For each series listed on Schedule A hereto, the following is added to the Independent Board Members table in the "Officers and Trustees" section of each SAI:
Independent Board Members|
Name, Year of Birth and Address |
Position |
Length of Time Served |
Number of Portfolios in Fund Complex Overseen by Board Member1 |
Other Directorships Held During at Least the Past 5 Years |
|
Alison J. Baumann (1966)** One Franklin Parkway San Mateo, CA 94403-1906 |
Trustee |
Since October 2024* |
60 |
San Mateo Police Activities League (nonprofit) (2016-present). |
|
Principal Occupation During at Least the Past 5 Years: Director & Chair Elect and member of governance, finance, scholarship and nominating committees, San Mateo Police Activities League (2016-present) (nonprofit); Global Head of Product Governance, Franklin Templeton (2020-2022) (financial services/asset management); Executive Vice President, Global Product Strategy, Franklin Templeton (2010-2020) (financial services/asset management); 401(k) Employee Retirement Plan Committee Member, Franklin Templeton (2017-2019) (oversight); Senior Vice President, Franklin Templeton Institutional LLC (2009-2022) (financial services ); Vice President; Senior Vice President, Franklin/Templeton Distributors, Inc. (2006-2021) (financial services). |
III. For each series of Franklin Templeton ETF Trust, the following replaces the information for Rohit Bhagat under the Independent Board Members table and
the information for Patrick O'Connor under the Interested Board Members and Officers table, respectively, in the "Officers and Trustees" section of each SAI:
Independent Board Members|
Name, Year of Birth and Address |
Position |
Length of Time Served |
Number of Portfolios in Fund Complex Overseen by Board Member1 |
Other Directorships Held During at Least the Past 5 Years |
|
Rohit Bhagat (1964) One Franklin Parkway San Mateo, CA 94403-1906 |
Trustee and Chairperson of the Board |
Trustee since 2016 and Chairperson of the Board since October 2024 |
60 |
AssetMark Financial Holdings, Inc. (investment solutions) (2018-present), PhonePe (payment and financial services) (2020-present) and Meesho (eCommerce company) (2023-present); and formerly, Axis Bank (banking and financial services) (2013-2021), FlipKart Limited (eCommerce company) (2019-2020), CapFloat Financial Services Pvt., Ltd. (non-banking finance company) (2018), Zentific Investment Management (hedge fund) (2015-2018), and FinTech Evolution Acquisition (eCommerce company) (2021-2023). |
|
Principal Occupation During at Least the Past 5 Years: Managing Member, Mukt Capital, LLC (private investment firm) (2014-present); and formerly, Chief Executive Officer and Director, FinTech Evolution Acquisition (eCommerce company) (2021-2023); Chairman, Asia Pacific, BlackRock (investment management) (2009-2012); Global Chief Operating Officer, Barclays Global Investors (investment management) (2005-2009); and Senior Partner, The Boston Consulting Group (management consulting) (1992-2005). |
Interested Board Members and Officers
|
Name, Year of Birth and Address |
Position |
Length of Time Served |
Number of Portfolios in Fund Complex Overseen by Board Member1 |
Other Directorships Held During at Least the Past 5 Years |
|
Patrick O'Connor2 (1967) One Franklin Parkway San Mateo, CA 94403-1906 |
Trustee, President and Chief Executive Officer - Investment Management |
Trustee since October 2024 and President and Chief Executive Officer - Investment Management since 2016* |
60 |
None |
|
Principal Occupation During at Least the Past 5 Years: President and Chief Investment Officer, Franklin Advisory Services, LLC; Senior Vice President, Franklin Advisers, Inc.; and officer of certain funds in the Franklin Templeton fund complex. |
IV. For the series of Franklin ETF Trust, the following replaces the information for Rohit Bhagat under the Independent Board Members table and the information
for Patrick O'Connor under the Interested Board Members and Officers table, respectively, in the "Officers and Trustees" section of the SAI:
Independent Board Members|
Name, Year of Birth and Address |
Position |
Length of Time Served |
Number of Portfolios in Fund Complex Overseen by Board Member1 |
Other Directorships Held During at Least the Past 5 Years |
|
Rohit Bhagat (1964) One Franklin Parkway San Mateo, CA 94403-1906 |
Trustee and Chairperson of the Board |
Trustee since 2017 and Chairperson of the Board since October 2024 |
60 |
AssetMark Financial Holdings, Inc. (investment solutions) (2018-present), PhonePe (payment and financial services) (2020-present) and Meesho (eCommerce company) (2023-present); and formerly, Axis Bank (banking and financial services) (2013-2021), FlipKart Limited (eCommerce company) (2019-2020), CapFloat Financial Services Pvt., Ltd. (non-banking finance company) (2018), Zentific Investment Management (hedge fund) (2015-2018), and FinTech Evolution Acquisition (eCommerce company) (2021-2023). |
|
Principal Occupation During at Least the Past 5 Years: Managing Member, Mukt Capital, LLC (private investment firm) (2014-present); and formerly, Chief Executive Officer and Director, FinTech Evolution Acquisition (eCommerce company) (2021-2023); Chairman, Asia Pacific, BlackRock (investment management) (2009-2012); Global Chief Operating Officer, Barclays Global Investors (investment management) (2005-2009); and Senior Partner, The Boston Consulting Group (management consulting) (1992-2005). |
Interested Board Members and Officers
|
Name, Year of Birth and Address |
Position |
Length of Time Served |
Number of Portfolios in Fund Complex Overseen by Board Member1 |
Other Directorships Held During at Least the Past 5 Years |
|
Patrick O'Connor2 (1967) One Franklin Parkway San Mateo, CA 94403-1906 |
Trustee, President and Chief Executive Officer - Investment Management |
Trustee since October 2024 and President and Chief Executive Officer - Investment Management since 2017* |
60 |
None |
|
Principal Occupation During at Least the Past 5 Years: President and Chief Investment Officer, Franklin Advisory Services, LLC; Senior Vice President, Franklin Advisers, Inc.; and officer of certain funds in the Franklin Templeton fund complex. |
2
V. For the series of Franklin Templeton Trust, the following replaces the information for Rohit Bhagat under the Independent Board Members table and the information
for Patrick O'Connor under the Interested Board Members and Officers table, respectively, in the "Officers and Trustees" section of the SAI:
Independent Board Members
|
Name, Year of Birth and Address |
Position |
Length of Time Served |
Number of Portfolios in Fund Complex Overseen by Board Member1 |
Other Directorships Held During at Least the Past 5 Years |
|
Rohit Bhagat (1964) One Franklin Parkway San Mateo, CA 94403-1906 |
Trustee and Chairperson of the Board |
Trustee since 2019 and Chairperson of the Board since October 2024 |
60 |
AssetMark Financial Holdings, Inc. (investment solutions) (2018-present), PhonePe (payment and financial services) (2020-present) and Meesho (eCommerce company) (2023-present); and formerly, Axis Bank (banking and financial services) (2013-2021), FlipKart Limited (eCommerce company) (2019-2020), CapFloat Financial Services Pvt., Ltd. (non-banking finance company) (2018), Zentific Investment Management (hedge fund) (2015-2018), and FinTech Evolution Acquisition (eCommerce company) (2021-2023). |
|
Principal Occupation During at Least the Past 5 Years: Managing Member, Mukt Capital, LLC (private investment firm) (2014-present); and formerly, Chief Executive Officer and Director, FinTech Evolution Acquisition (eCommerce company) (2021-2023); Chairman, Asia Pacific, BlackRock (investment management) (2009-2012); Global Chief Operating Officer, Barclays Global Investors (investment management) (2005-2009); and Senior Partner, The Boston Consulting Group (management consulting) (1992-2005). |
Interested Board Members and Officers
|
Name, Year of Birth and Address |
Position |
Length of Time Served |
Number of Portfolios in Fund Complex Overseen by Board Member1 |
Other Directorships Held During at Least the Past 5 Years |
|
Patrick O'Connor2 (1967) One Franklin Parkway San Mateo, CA 94403-1906 |
Trustee, President and Chief Executive Officer - Investment Management |
Trustee since October 2024 and President and Chief Executive Officer - Investment Management since 2019* |
60 |
None |
|
Principal Occupation During at Least the Past 5 Years: President and Chief Investment Officer, Franklin Advisory Services, LLC; Senior Vice President, Franklin Advisers, Inc.; and officer of certain funds in the Franklin Templeton fund complex. |
VI. For each series listed on Schedule A hereto, the following notes replace the notes corresponding to the Independent Board Members and Interested Board Members and Officers tables in the "Officers and Trustees" section of each SAI:
Note 1: Officer information is current as of the date of this SAI. It is possible that after this date, information about officers may change.
1 Information is for the calendar year ended December 31, 2023, unless otherwise noted. We base the number of portfolios on each separate series of the U.S. registered investment companies within the Franklin Templeton fund complex. These portfolios have a common investment manager or affiliated investment manager.
2 Patrick O'Connor is considered to be an interested person of the Fund under the federal securities laws due to his position as an officer at Franklin Advisory Services LLC and Franklin Advisers Inc.
* Ms. Baumann and Mr. O'Connor were each elected by shareholders of the Trust to serve as Trustees effective October 8, 2024. Information pertaining to the number of portfolios in the fund complex overseen by Ms. Baumann and Mr. O'Connor is as of October 8, 2024.
** During the two most recently completed calendar years, Ms. Baumann owned shares of common stock in Franklin Resources, the parent company of the investment manager, sub-adviser, as applicable, and the distributor, in excess of $120,000. Prior to becoming a Trustee, she completely disposed of that common stock interest.
3
VII. For each series listed on Schedule A hereto, the following replaces the fourth sentence in the paragraph below the notes corresponding to the Independent Board Members and Interested Board Members and Officers tables in the "Officers and Trustees" section of each SAI:
Rohit Bhagat, who serves as Chairperson of the Board of the Trust and such other investment companies, is paid an annual supplemental retainer of $15,000 for serving as the Chairperson of each such board, a portion of which is allocated to the Trust.
VIII. For each series listed on Schedule A hereto, the following is added to table providing the total fees paid to the independent board members by the Trust and by other funds in Franklin Templeton in the "Officers and Trustees" section of each SAI:
|
Name |
Total Fees |
Total Fees |
Number |
|
Alison J. Baumann* |
N/A |
N/A |
5 |
* Ms. Baumann was elected by shareholders of the Trust to serve as Trustee effective October 8, 2024.
IX. For each series listed on Schedule A hereto, the following is added to the table providing the dollar range of equity securities beneficially owned by the independent board members of the Trust in the "Officers and Trustees" section of each SAI:
Independent Board Members
|
Name of Board Member |
Dollar Range of Equity Securities in the Fund |
Aggregate Dollar Range of Equity Securities in All Funds Overseen by the Board Member in the Franklin Templeton Fund Complex |
|
Alison J. Baumann* |
None |
$50,001-$100,000 |
* Information is as of March 22, 2024.
X. For each series listed on Schedule A hereto (except for Franklin FTSE Brazil ETF, Franklin U.S. Mid Cap Multifactor Index ETF, Franklin Income Focus ETF and Franklin Senior Loan ETF), the following is added to the table providing the dollar range of
equity securities beneficially owned by the interested board members of the Trust in the "Officers and Trustees" section of each SAI:
Interested Board Members
|
Name of |
Dollar Range of Equity Securities in the Fund |
Aggregate Dollar Range of Equity Securities in All Funds Overseen by the Board Member in the Franklin Templeton Fund Complex |
|
Patrick O'Connor* |
None |
$500,001-$1,000,000 |
* Information is as of July 15, 2024.
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XI. With respect to Franklin FTSE Brazil ETF, Franklin U.S. Mid Cap Multifactor Index ETF, Franklin Income Focus ETF and Franklin Senior Loan ETF, the following is added to the table providing the dollar range of equity securities beneficially owned
by the interested board members of the Trust in the "Officers and Trustees" section of each respective SAI:
Interested Board Members
|
Name of |
Dollar Range of Equity Securities in the Fund |
Aggregate Dollar Range of Equity Securities in All Funds Overseen by the Board Member in the Franklin Templeton Fund Complex |
|
Patrick O'Connor* |
$50,001-$100,000-Franklin FTSE Brazil ETF $50,001-$100,000-FranklinU.S.MidCapMultifactorIndex ETF $100,001-$500,000-Franklin Income Focus ETF $100,001-$500,000-Franklin Senior Loan ETF |
$500,001-$1,000,000 |
* Information is as of July 15, 2024.
XII. For each series listed on Schedule A hereto, the following replaces the corresponding information in the "Officers and Trustees" section of each SAI:
Board structure A super-majority of board members consist of independent board members who are not deemed to be "interested persons" as provided under the 1940 Act. The Chairperson of the Board is an independent board member who, in addition to presiding at board meetings also, together with independent counsel, reviews proposed agendas for board meetings and generally acts as a liaison with management with respect to questions and issues raised by the independent board members. The Chairperson also presides at separate meetings of independent board members held in advance of each scheduled board meeting where various matters, including those being considered at such board meeting are discussed. It is believed such structure and activities assure that proper consideration is given at board meetings to matters deemed important to each Fund and its shareholders.
Trustee qualifications Information on the Fund's officers and board members appears above including information on the business activities of board members during at least the past five years. In addition to personal qualities, such as integrity, the role of an effective Trust board member inherently requires the ability to comprehend, discuss and critically analyze materials and issues presented in exercising judgments and reaching informed conclusions relevant to his or her duties and fiduciary obligations. The Board believes that the specific background of each board member evidences such ability and is appropriate to his or her serving on the Board. As indicated, Rohit Bhagat has extensive experience in the asset management and financial services industries, Deborah D. McWhinney has extensive management, risk and cyber security experience, Anantha K. Pradeep has served as Chief Executive Officer of consulting and technology companies, Alison J. Baumann has prior experience in the asset management industry, including previously serving as Global Head of Product Governance at Franklin Templeton and Patrick O'Connor has investment management and risk oversight experience as a high ranking executive officer within Franklin Templeton.
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SCHEDULEA
Fund
DateofSAI
FRANKLINTEMPLETONETFTRUST
FranklinInternationalCoreDividendTiltIndexETF August1,2024
FranklinEmergingMarketCoreDividendTiltIndexETF August1,2024
FranklinU.S.CoreDividendTiltIndexETF August1,2024
FranklinU.S.LargeCapMultifactorIndexETF August1,2024
FranklinU.S.MidCapMultifactorIndexETF August1,2024
FranklinU.S.SmallCapMultifactorIndexETF August1,2024
FranklinU.S.EquityIndexETF August1,2024
FranklinDisruptiveCommerceETF August1,2024
FranklinGenomicAdvancementsETF August1,2024
FranklinIntelligentMachinesETF August1,2024
FranklinExponentialDataETF August1,2024
FranklinIncome Equity FocusETF August1,2024
FranklinInvestmentGradeCorporateETF August1,2024
FranklinDynamicMunicipalBondETF August1,2024
FranklinMunicipalGreenBondETF August1,2024
FranklinHighYieldCorporateETF August1,2024
FranklinInternationalAggregateBondETF August1,2024
FranklinSeniorLoanETF August1,2024
FranklinU.S.CoreBondETF August1,2024
FranklinU.S.TreasuryBondETF August1,2024
FranklinUltraShortBondETF August1,2024
FranklinSystematicStylePremiaETF August1,2024
FranklinFTSEAsiaexJapanETF August1,2024
FranklinFTSEAustraliaETF August1,2024
FranklinFTSEBrazilETF August1,2024
FranklinFTSECanadaETF August1,2024
FranklinFTSEChinaETF August1,2024
FranklinFTSEEuropeETF August1,2024
FranklinFTSEEurozoneETF August1,2024
FranklinFTSEGermanyETF August1,2024
FranklinFTSEHongKongETF August1,2024
FranklinFTSEIndiaETF August1,2024
FranklinFTSEJapanETF August1,2024
FranklinFTSEJapanHedgedETF August1,2024
FranklinFTSELatinAmericaETF August1,2024
FranklinFTSEMexicoETF August1,2024
Franklin FTSE Russia ETF August 1, 2024
FranklinFTSESaudiArabiaETF August1,2024
FranklinFTSESouthKoreaETF August1,2024
FranklinFTSESwitzerlandETF August1,2024
FranklinFTSETaiwanETF August1,2024
FranklinFTSEUnitedKingdomETF August1,2024
BrandywineGLOBAL-DynamicUSLargeCapValueETF August1,2024
MartinCurrieSustainableInternationalEquityETF August1,2024
ClearBridgeSustainableInfrastructureETF August1,2024
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Fund
DateofSAI
FRANKLINTEMPLETONETFTRUST
BrandywineGLOBAL- U.S.FixedIncomeETF August1,2024
FranklinFocusedGrowthETF August1,2024
FranklinIncome FocusETF August1,2024
WesternAssetBondETF August1,2024
FRANKLINETFTRUST
FranklinShortDurationU.S.GovernmentETF August1, 2024
FRANKLINTEMPLETONTRUST
Franklin OnChain U.S. Government Money Fund™ August1, 2024,
as amended September 4, 2024
Please retain this supplement for future reference.
7