Franklin Templeton Distributors announced the introduction of Class B shares for 33 Franklin Templeton funds effective Jan. 1 and the renaming of Class I and Class II shares for all the firm's funds.

The Class B shares have a front-end sales charge that decreases incrementally over seven years. The shares will convert to Class A shares at the end of the eighth year. The Class B shares include a maximum 12b-1 fee of 1% for equity funds and .65% for fixed-income funds.

The Class I and Class II shares will be renamed Class A and Class C, respectively. With a few exceptions, the shares will follow the same pricing structure as they have in the past.

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