SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

(Amendment No. __)

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[  ] Preliminary Proxy Statement

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[  ] Soliciting Material Pursuant to Sec. 240.14a-12

FRANKLIN CALIFORNIA TAX-FREE INCOME FUND

FRANKLIN CALIFORNIA TAX-FREE TRUST

FRANKLIN CUSTODIAN FUNDS

FRANKLIN FEDERAL TAX-FREE INCOME FUND

FRANKLIN FUND ALLOCATOR SERIES

FRANKLIN GLOBAL TRUST

FRANKLIN GOLD AND PRECIOUS METALS FUND

FRANKLIN HIGH INCOME TRUST

FRANKLIN INVESTORS SECURITIES TRUST

FRANKLIN MUNICIPAL SECURITIES TRUST

FRANKLIN NEW YORK TAX-FREE INCOME FUND

FRANKLIN NEW YORK TAX-FREE TRUST

FRANKLIN REAL ESTATE SECURITIES TRUST

FRANKLIN STRATEGIC MORTGAGE PORTFOLIO

FRANKLIN STRATEGIC SERIES

FRANKLIN TAX-FREE TRUST

FRANKLIN TEMPLETON GLOBAL TRUST

FRANKLIN TEMPLETON INTERNATIONAL TRUST

FRANKLIN TEMPLETON MONEY FUND TRUST

FRANKLIN U.S. GOVERNMENT MONEY FUND

INSTITUTIONAL FIDUCIARY TRUST

THE MONEY MARKET PORTFOLIOS

TEMPLETON CHINA WORLD FUND

TEMPLETON FUNDS

TEMPLETON GLOBAL INVESTMENT TRUST

TEMPLETON GLOBAL OPPORTUNITIES TRUST

TEMPLETON GLOBAL SMALLER COMPANIES FUND

TEMPLETON INCOME TRUST

TEMPLETON INSTITUTIONAL FUNDS

(Name of Registrant as Specified In Its Charter)

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Shareholder Name

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EXTREMELY IMPORTANT

Re: FRANKLIN TEMPLETON FUNDS

Dear Shareholder:

We have been trying to get in touch with you regarding a very important matter pertaining to your investment in one or more Franklin Templeton Funds. In order to proceed we are requesting your immediate response.  This matter pertains to an important strategic initiative for the Fund which requires your response. We need to hear from you by no later than December 14, 2017.

It is very important that we speak to you regarding this matter.  The call will only take a few moments of your time and there is no confidential information required.

Please contact our proxy vendor, AST Fund Solutions toll-free at 1-800-967-5068 between 9:00 a.m. and 10:00 p.m. Eastern time, Monday through Friday, and Saturday 10:00 a.m. to 4:00 p.m. Eastern.  At the time of the call please reference the number listed below to vote your shares in connection with the Joint Special Meeting of Shareholders scheduled for December 15, 2017.

Thank you.

Sincerely,

Greg Johnson

Chairman

Franklin Templeton Investments

ID NUMBER: 1234567