UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Notice of Effectiveness
Effectiveness Date:	July 27, 2009 3:15 P.M.

Form:

N-14

CIK: 0000809707 Company Name: FRANKLIN INVESTORS SECURITIES TRUST File Number: 333-160119 SERIES/CLASSES (CONTRACTS) MERGERS CIK Series ID Class/Contract Name Acquiring: 0000809707 FRANKLIN INVESTORS SECURITIES TRUST S000006857 FRANKLIN TOTAL RETURN FUND C000018526 CLASS A Target: 0000798290 HSBC INVESTOR FUNDS S000005037 HSBC Investor Core Plus Fixed Income Fund C000013746 A Shares Target: 0000798290 HSBC INVESTOR FUNDS S000005037 HSBC Investor Core Plus Fixed Income Fund C000013747 B Shares Target: 0000798290 HSBC INVESTOR FUNDS S000005040 HSBC Investor Intermediate Duration Fixed Income Fund C000013755 A Shares Target: 0000798290 HSBC INVESTOR FUNDS S000005040 HSBC Investor Intermediate Duration Fixed Income Fund C000013757 B Shares CIK Series ID Class/Contract Name Acquiring: 0000809707 FRANKLIN INVESTORS SECURITIES TRUST S000006857 FRANKLIN TOTAL RETURN FUND C000018528 CLASS C Target: 0000798290 HSBC INVESTOR FUNDS S000005037 HSBC Investor Core Plus Fixed Income Fund C000013748 C Shares Target: 0000798290 HSBC INVESTOR FUNDS S000005040 HSBC Investor Intermediate Duration Fixed Income Fund C000013758 C Shares CIK Series ID Class/Contract Name Acquiring: 0000809707 FRANKLIN INVESTORS SECURITIES TRUST S000006857 FRANKLIN TOTAL RETURN FUND C000018529 ADVISOR CLASS Target: 0000798290 HSBC INVESTOR FUNDS S000005040 HSBC Investor Intermediate Duration Fixed Income Fund C000013756 I Shares Target: 0001010296 HSBC ADVISOR FUNDS TRUST S000009283 Core Plus Fixed Income Fund C000025345 Class I Shares