Funds Request Flexible Fees and Share Types Approval
Published Date: 5/4/2026
Notice
Summary
Franklin Lexington Private Markets Fund and partners want permission to offer different types of shares and charge fees for early withdrawals and ongoing services. This change affects investors in these funds by potentially changing how and when they pay fees. If no one asks for a hearing by May 26, 2026, the SEC will likely approve these new rules soon.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
Permission to impose early withdrawal charges
The applicants asked the SEC for permission to impose early withdrawal charges on investors in these closed-end funds. If approved, investors who redeem or withdraw early from affected share classes could face explicit early withdrawal fees.
Allow asset-based distribution/service fees
The applicants requested authority to impose asset-based distribution and/or service fees on the listed closed-end funds. If the SEC grants relief, the funds could charge ongoing asset-based distribution or service fees that would be paid by investors as a percentage of assets.
Funds seek multiple share classes
If you invest in the listed Franklin private markets funds, the applicants asked the SEC for permission to let those closed-end funds issue multiple classes of shares. If the SEC grants the requested order, the funds would be allowed to sell more than one class of shares to investors.
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