Franklin Global Trust — Combination with strongly performing peer

Following a thorough review, on 13 November 2025, the board of Franklin Global Trust (FRGT) announced that terms had been agreed for a combination with Invesco Global Equity Income Trust (IGET). This will be implemented via a scheme of arrangement, whereby FRGT’s shareholders will be entitled to receive new shares in IGET and/or cash. IGET will continue to be managed by Invesco Fund Managers. The combination follows FRGT’s recent performance and diminishing size as a result of ongoing share buybacks under the company’s zero discount policy. Over the last five years, FRGT’s market cap has declined from £300m to the current sub-£185m.