Franklin Templeton today discontinued the proposed reorganization of Western Asset Total Return ETF (WBND) into the Western Asset Bond ETF (WABF) due to WBND’s failure to receive the requisite shareholder approval of the reorganization at today’s special meeting of shareholders of WBND.

In light of WBND’s failure to garner the requisite votes necessary to approve the reorganization, it is anticipated that, at a future date, the Board of Trustees of WBND may consider other actions that it may deem to be necessary or appropriate for WBND.

On September 6, 2024, Franklin Templeton announced the proposed reorganization of WBND into WABF subject to the approval of WBND shareholders.

About Franklin Templeton

Franklin Resources, Inc. [NYSE: BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and approximately $1.6 trillion in assets under management as of December 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.

All investments involve risks, including possible loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Active management does not ensure gains or protect against market declines. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Active and frequent trading may increase a shareholder's tax liability and transaction costs. These and other risks are discussed in the fund’s prospectus.

Before investing, carefully consider a fund’s investment objectives, risks, charges and expenses. You can find this and other information in each prospectus, or summary prospectus, if available, at www.franklintempleton.com. Please read it carefully.

Franklin Distributors, LLC. Member FINRA/SIPC. Western Asset Management Company, LLC and Franklin Distributors, LLC are Franklin Templeton affiliated companies.

Copyright © 2025. Franklin Templeton. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250122523804/en/