EXHIBIT P

FRANKLIN TEMPLETON INVESTMENT MANAGER AND SUB-ADVISER INFORMATION

Fund/Series	Investment Manager	Sub-Adviser
Franklin California Tax-Free Income Fund, Inc.	Franklin Advisers, Inc.1	N/A
Franklin California Tax-Free Income Fund
Franklin California Tax-Free Trust
Franklin California Insured Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin California Intermediate-Term Tax-Free	Franklin Advisers, Inc.1	N/A
Income Fund
Franklin California Limited-Term Tax-Free Income	Franklin Advisers, Inc.1	N/A
Fund
Franklin California Tax-Exempt Money Fund	Franklin Advisers, Inc.1	N/A
Franklin Capital Growth Fund	Franklin Advisers, Inc.1	N/A
Franklin Custodian Funds, Inc.
Franklin DynaTech Fund	Franklin Advisers, Inc.1	N/A
Franklin Growth Fund	Franklin Investment	N/A
	Advisory Services, LLC2
Franklin Income Fund	Franklin Advisers, Inc.1	N/A
Franklin U.S. Government Securities Fund	Franklin Advisers, Inc.1	N/A
Franklin Utilities Fund	Franklin Advisers, Inc.1	N/A
Franklin Global Trust
Fiduciary Large Capitalization Growth and Income	Fiduciary International, Inc.3	N/A
Fund
Fiduciary Small Capitalization Equity Fund	Fiduciary International, Inc.3	Franklin Templeton
		Institutional, LLC4
Franklin Global Real Estate Fund	Franklin Templeton	N/A
	Institutional, LLC4
Franklin International Smaller Companies Growth	Franklin Advisers, Inc.1	Franklin Templeton
Fund		Institutional, LLC4
Franklin Templeton Core Fixed Income Fund	Fiduciary International, Inc.3	Franklin Templeton
		Institutional, LLC4
Franklin Templeton Core Plus Fixed Income Fund	Fiduciary International, Inc.3	Franklin Templeton
		Institutional, LLC4
Franklin Templeton Emerging Market Debt	Franklin Templeton	N/A
Opportunities Fund	Investment Management
	Limited5
Franklin Templeton High Income Fund	Fiduciary International, Inc.3	Franklin Advisers, Inc.1
Franklin Gold and Precious Metals Fund	Franklin Advisers, Inc.1	N/A
Franklin High Income Trust	Franklin Advisers, Inc.1	N/A
Franklin High Income Fund

P-1

Fund/Series	Investment Manager	Sub-Adviser
Franklin Investors Securities Trust
Franklin Adjustable U.S. Government Securities Fund	Franklin Advisers, Inc.1	N/A
Franklin Balanced Fund	Franklin Advisers, Inc.1	N/A
Franklin Convertible Securities Fund	Franklin Advisers, Inc.1	N/A
Franklin Equity Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Floating Rate Daily Access Fund	Franklin Advisers, Inc.1	N/A
Franklin Limited Maturity U.S. Government Securities	Franklin Advisers, Inc.1	N/A
Fund
Franklin Low Duration Total Return Fund	Franklin Advisers, Inc.1	N/A
Franklin Real Return Fund	Franklin Advisers, Inc.1	N/A
Franklin Total Return Fund	Franklin Advisers, Inc.1	N/A
Franklin Managed Trust
Franklin Rising Dividends Fund	Franklin Advisory Services,	N/A
	LLC6
Franklin Municipal Securities Trust
Franklin California High Yield Municipal Fund	Franklin Advisers, Inc.1	N/A
Franklin Tennessee Municipal Bond Fund	Franklin Advisers, Inc.1	N/A
Franklin Mutual Recovery Fund	Franklin Mutual Advisers,	N/A
	LLC7
Franklin Mutual Series Fund Inc.
Mutual Beacon Fund	Franklin Mutual Advisers,	N/A
	LLC7
Mutual Discovery Fund	Franklin Mutual Advisers,	Franklin Templeton
	LLC7	Investment
		Management
		Limited5
Mutual European Fund	Franklin Mutual Advisers,	N/A
	LLC7
Mutual Financial Services Fund	Franklin Mutual Advisers,	N/A
	LLC7
Mutual Qualified Fund	Franklin Mutual Advisers,	Franklin Templeton
	LLC7	Investment
		Management
		Limited5
Mutual Shares Fund	Franklin Mutual Advisers,	N/A
	LLC7
Franklin New York Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin New York Tax-Free Trust
Franklin New York Insured Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin New York Intermediate-Term Tax-Free	Franklin Advisers, Inc.1	N/A
Income Fund
Franklin New York Limited-Term Tax-Free Income	Franklin Advisers, Inc.1	N/A
Fund
Franklin New York Tax-Exempt Money Fund	Franklin Advisers, Inc.1	N/A
Franklin Real Estate Securities Trust
Franklin Real Estate Securities Fund	Franklin Advisers, Inc.1	N/A

P-2

Fund/Series	Investment Manager	Sub-Adviser
Franklin Strategic Mortgage Portfolio	Franklin Advisers, Inc.1	N/A
Franklin Strategic Series
Franklin Aggressive Growth Fund	Franklin Advisers, Inc.1	N/A
Franklin Biotechnology Discovery Fund	Franklin Advisers, Inc.1	N/A
Franklin Blue Chip Fund	Franklin Advisers, Inc.1	N/A
Franklin Flex Cap Growth Fund	Franklin Advisers, Inc.1	N/A
Franklin Global Communications Fund	Franklin Advisers, Inc.1	N/A
Franklin Global Health Care Fund	Franklin Advisers, Inc.1	N/A
Franklin Natural Resources Fund	Franklin Advisers, Inc.1	N/A
Franklin Small-Mid Cap Growth Fund	Franklin Advisers, Inc.1	N/A
Franklin Small Cap Growth Fund II	Franklin Advisers, Inc.1	N/A
Franklin Strategic Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Technology Fund	Franklin Advisers, Inc.1	N/A
Franklin U.S. Long-Short Fund	Franklin Advisers, Inc.1	N/A
Franklin Tax-Free Trust
Franklin Alabama Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Arizona Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Colorado Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Connecticut Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Double Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Federal Intermediate-Term Tax-Free Income	Franklin Advisers, Inc.1	N/A
Fund
Franklin Federal Limited-Term Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Florida Insured Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Florida Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Georgia Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin High Yield Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Insured Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Kentucky Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Louisiana Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Maryland Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Massachusetts Insured Tax-Free Income	Franklin Advisers, Inc.1	N/A
Fund	Franklin Advisers, Inc.1	N/A
Franklin Michigan Insured Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Minnesota Insured Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Missouri Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin New Jersey Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin North Carolina Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Ohio Insured Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Oregon Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Pennsylvania Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A
Franklin Virginia Tax-Free Income Fund	Franklin Advisers, Inc.1	N/A

P-3

Fund/Series	Investment Manager	Sub-Adviser
Franklin Templeton Fund Allocator Series
Franklin Templeton Conservative Target Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton Corefolio Allocation Fund	N/A	N/A
Franklin Templeton Founding Funds Allocation Fund	N/A	N/A
Franklin Templeton Growth Target Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton Moderate Target Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton Perspectives Allocation Fund	N/A	N/A
Franklin Templeton 2015 Retirement Target Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton 2025 Retirement Target Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton 2035 Retirement Target Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton 2045 Retirement Target Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton Global Trust
Franklin Templeton Hard Currency Fund	Franklin Advisers, Inc.1	N/A
Franklin Templeton International Trust
Templeton Foreign Smaller Companies Fund	Franklin Advisers, Inc.1	Templeton Investment
		Counsel, LLC8 &
		Franklin Templeton
		Investment
		Management Limited5
Templeton Global Long-Short Fund	Franklin Advisers, Inc.1	Templeton Global
		Advisors Limited9 &
		Franklin Templeton
		Investment
		Management Limited5
Franklin Templeton Money Fund Trust	N/A	N/A
Franklin Templeton Money Fund
Franklin Value Investors Trust
Franklin Balance Sheet Investment Fund	Franklin Advisory Services,	N/A
	LLC6
Franklin Large Cap Value Fund	Franklin Advisory Services,	N/A
	LLC6
Franklin MicroCap Value Fund	Franklin Advisory Services,	N/A
	LLC6
Franklin MidCap Value Fund	Franklin Advisory Services,	N/A
	LLC6
Franklin Small Cap Value Fund	Franklin Advisory Services,	N/A
	LLC6
Institutional Fiduciary Trust
Franklin Cash Reserves Fund	N/A	N/A
Franklin Structured Large Cap Core Equity Fund	Franklin Advisers, Inc.1	N/A
Franklin Structured Large Cap Growth Equity Fund	Franklin Advisers, Inc.1	N/A
Money Market Portfolio	N/A	N/A
The Money Market Portfolios
The Money Market Portfolio	Franklin Advisers, Inc.1	N/A
Templeton China World Fund	Templeton Asset	N/A
	Management Ltd.10
Templeton Developing Markets Trust	Templeton Asset	N/A
	Management Ltd.10

P-4

Fund/Series	Investment Manager	Sub-Adviser
Templeton Funds, Inc.
Templeton Foreign Fund	Templeton Global Advisors	N/A
	Limited9
Templeton World Fund	Templeton Global Advisors	N/A
	Limited9
Templeton Global Smaller Companies Fund	Templeton Investment	Franklin Templeton
	Counsel, LLC8	Investment
		Management Limited5
Templeton Income Trust
Templeton Global Bond Fund	Franklin Advisers, Inc.1	N/A
Templeton Institutional Funds, Inc.
Emerging Markets Series	Templeton Asset	N/A
	Management Ltd.10
Foreign Equity Series	Templeton Investment	N/A
	Counsel, LLC8
Foreign Smaller Companies Series	Templeton Investment	Franklin Templeton
	Counsel, LLC8	Investment
		Management Limited5
Franklin Templeton Non-U.S. Core Equity Series	Franklin Templeton	Franklin Templeton
	Alternative Strategies, Inc.11	Institutional, LLC4 &
		Templeton Investment
		Counsel, LLC8

Footnote
Reference	Adviser	Address
1	Franklin Advisers, Inc.	One Franklin Parkway
		San Mateo, CA 94403-1906
2	Franklin Investment Advisory Services, LLC	One Franklin Parkway
		San Mateo, CA 94403-1906
3	Fiduciary International, Inc.	600 Fifth Avenue
		New York, NewYork 10020-2302
4	Franklin Templeton Institutional, LLC	600 Fifth Avenue,
		New York, NY 10020
5	Franklin Templeton Investment Management Limited	The Adelphi Building
		1-11 John Adam Street
		London WC2N 6HT
6	Franklin Advisory Services, LLC	One Parker Plaza
		Ninth Floor
		Fort Lee, New Jersey 07024
7	Franklin Mutual Advisers, LLC	101 John F. Kennedy Parkway
		Short Hills, NJ 07078
8	Templeton Investment Counsel, LLC	500 East Broward Blvd.
		Fort Lauderdale, FL 33394
9	Templeton Global Advisors Limited	Lyford Cay
		Nassau, Bahamas
10	Templeton Asset Management Ltd.	7 Temasek Blvd.
		Suntec Tower One
		#38-03
		Singapore 038987
11	Franklin Templeton Alternative Strategies, Inc.	One Franklin Parkway
		San Mateo, CA 94403

P-5