Toronto-based Franklin Templeton Investments Corp. on Tuesday announced changes to the risk ratings of three of its mutual funds.

The changes are:

> Franklin Templeton Canadian Large Cap Fund, from "Medium" to "Low to Medium";

> Franklin U.S. Monthly Income Hedged Corporate Class, from "Low to Medium" to "Low"; and

> Franklin U.S. Rising Dividends Hedged Corporate Class, from "Medium" to "Low to Medium".

These changes will be reflected in the funds' annual simplified prospectus renewal, which is expected to be filed on June 6.

These changes are the result of an annual review.

No material changes have been made to the investment objectives, strategies or management of these funds.