Singapore, May 15, 2025 - Franklin Templeton, one of the largest global investment managers in the world and a pioneer in digital assets technology, today announced that it has received regulatory approval from the Monetary Authority of Singapore (“MAS”) to launch the Franklin OnChain U.S. Dollar Short-Term Money Market Fund (the “Fund”) in Singapore. Structured as a sub-fund under Franklin Templeton’s first Variable Capital Company, known as Franklin Templeton Investments VCC (“VCC”), the Fund will be the first tokenized fund registered for retail investors in Singapore. Franklin Templeton incorporated the VCC in August 2024 and the Fund is approved as an authorized scheme by the MAS on May 13, 2025.
As shares in the Fund will be issued using Franklin Templeton’s proprietary blockchain-integrated transfer agency platform, investors can benefit from greater transparency, security, accessibility and efficiency enabled by blockchain technology. Investors will be able to access the Fund with a minimum investment of US$20.
The investment objectives of the Fund mirrors that of the Luxembourg registered, Franklin Templeton Investment Funds - Franklin U.S. Dollar Short-Term Money Market Fund, which has US$1.76 billion in assets under management1, and aims to offer investors exposure to a portfolio of high quality, short-term securities, consisting principally of transferable securities and money market instruments of governments and eligible securities of companies of any nation worldwide, primarily USD denominated, or hedged back into USD minimising any currency exposure.
The Fund is managed by Templeton Asset Management Ltd, which in turn has appointed Franklin Advisers Inc as the sub-managers.