Franklin Templeton gets approval to launch first retail tokenised fund in Singapore

Investors will be able to access the fund with a minimum investment of US$20.

Franklin Templeton has secured approval from the Monetary Authority of Singapore (MAS) to launch its first retail tokenised fund in the country.

The Franklin OnChain US Dollar Short-Term Money Market Fund 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.

It will also consist of eligible securities of companies of any nation worldwide, primarily US dollar denominated or hedged back into the US dollar.

Investors will be able to access the fund with a minimum investment of US$20.

The fund is structured as a sub-fund under the Franklin Templeton Investments VCC.

The fund will be managed by Templeton Asset Management Ltd, which in turn appointed Franklin Advisers Inc as sub-managers.