0001535538-20-000052.txt : 20201105 0001535538-20-000052.hdr.sgml : 20201105 20201105113626 ACCESSION NUMBER: 0001535538-20-000052 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20201105 DATE AS OF CHANGE: 20201105 EFFECTIVENESS DATE: 20201105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Franklin Alternative Strategies Funds CENTRAL INDEX KEY: 0001535538 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-189667 FILM NUMBER: 201289364 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN CUSTODIAN FUNDS CENTRAL INDEX KEY: 0000038721 IRS NUMBER: 132573775 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-11346 FILM NUMBER: 201289338 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CUSTODIAN FUNDS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN HIGH INCOME TRUST CENTRAL INDEX KEY: 0000002768 IRS NUMBER: 941693697 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-30203 FILM NUMBER: 201289343 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: AGE HIGH INCOME FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: AGE FUND INC DATE OF NAME CHANGE: 19810128 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN GOLD & PRECIOUS METALS FUND CENTRAL INDEX KEY: 0000083293 IRS NUMBER: 941682682 FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-30761 FILM NUMBER: 201289342 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN GOLD FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: RESEARCH CAPITAL FUND INC DATE OF NAME CHANGE: 19831025 FORMER COMPANY: FORMER CONFORMED NAME: WINCAP FUND DATE OF NAME CHANGE: 19730726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN U.S. GOVERNMENT MONEY FUND CENTRAL INDEX KEY: 0000038778 IRS NUMBER: 942312649 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-55029 FILM NUMBER: 201289354 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-570-3000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN MONEY FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN RESOURCES LIQUID ASSETS FUND DATE OF NAME CHANGE: 19800402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON FUNDS CENTRAL INDEX KEY: 0000225930 IRS NUMBER: 222169185 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-60067 FILM NUMBER: 201289363 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON FUNDS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON WORLD FUND INC DATE OF NAME CHANGE: 19821115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN CALIFORNIA TAX FREE INCOME FUND CENTRAL INDEX KEY: 0000225375 IRS NUMBER: 942450603 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-60470 FILM NUMBER: 201289336 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CALIFORNIA TAX FREE INCOME FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN TAX FREE INCOME FUND INC DATE OF NAME CHANGE: 19820809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON GLOBAL SMALLER COMPANIES FUND CENTRAL INDEX KEY: 0000350900 IRS NUMBER: 592098933 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-70889 FILM NUMBER: 201289359 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON GLOBAL SMALLER COMPANIES FUND INC DATE OF NAME CHANGE: 19961112 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON SMALLER COMPANIES GROWTH FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON GLOBAL FUNDS INC DATE OF NAME CHANGE: 19910115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN FEDERAL TAX FREE INCOME FUND CENTRAL INDEX KEY: 0000357310 IRS NUMBER: 942821264 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-75925 FILM NUMBER: 201289339 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-570-3000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CASH MANAGEMENT FUND DATE OF NAME CHANGE: 19831016 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN NEW YORK TAX FREE INCOME FUND CENTRAL INDEX KEY: 0000703112 IRS NUMBER: 942832429 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-77880 FILM NUMBER: 201289348 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN NEW YORK TAX FREE INCOME FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN TAX FREE TRUST CENTRAL INDEX KEY: 0000757010 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-94222 FILM NUMBER: 201289353 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN CALIFORNIA TAX FREE TRUST CENTRAL INDEX KEY: 0000773478 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-99112 FILM NUMBER: 201289337 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON INCOME TRUST CENTRAL INDEX KEY: 0000795402 IRS NUMBER: 596865210 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-06510 FILM NUMBER: 201289361 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON INCOME FUND DATE OF NAME CHANGE: 19871006 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN NEW YORK TAX FREE TRUST CENTRAL INDEX KEY: 0000798523 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-07785 FILM NUMBER: 201289349 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN NEW YORK TAX EXEMPT MONEY FUND DATE OF NAME CHANGE: 19910304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON GROWTH FUND INC CENTRAL INDEX KEY: 0000805664 IRS NUMBER: 592745039 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-09981 FILM NUMBER: 201289360 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN MANAGED TRUST CENTRAL INDEX KEY: 0000805650 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-09994 FILM NUMBER: 201289345 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-3000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: ROTHSCHILD L F MANAGED TRUST DATE OF NAME CHANGE: 19880831 FORMER COMPANY: FORMER CONFORMED NAME: ROTHSCHILD L F UNTERBERG TOWBIN INVESTMENT TRUST DATE OF NAME CHANGE: 19870111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN INVESTORS SECURITIES TRUST CENTRAL INDEX KEY: 0000809707 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-11444 FILM NUMBER: 201289344 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2200 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN MUTUAL SERIES FUNDS CENTRAL INDEX KEY: 0000825063 IRS NUMBER: 222894171 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-18516 FILM NUMBER: 201289347 BUSINESS ADDRESS: STREET 1: 101 JOHN F KENNEDY PARKWAY CITY: SHORT HILLS STATE: NJ ZIP: 07078 BUSINESS PHONE: 973-912-2000 MAIL ADDRESS: STREET 1: 101 JOHN F KENNEDY PARKWAY CITY: SHORT HILLS STATE: NJ ZIP: 07078 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN MUTUAL SERIES FUND INC DATE OF NAME CHANGE: 19970227 FORMER COMPANY: FORMER CONFORMED NAME: MUTUAL SERIES FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN VALUE INVESTORS TRUST CENTRAL INDEX KEY: 0000856119 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-31326 FILM NUMBER: 201289355 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN BALANCE SHEET INVESTMENT FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON INSTITUTIONAL FUNDS CENTRAL INDEX KEY: 0000865722 IRS NUMBER: 593020895 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-35779 FILM NUMBER: 201289362 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON INSTITUTIONAL FUNDS INC DATE OF NAME CHANGE: 19940602 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON INSTITUTIONAL TRUST INC DATE OF NAME CHANGE: 19930326 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN STRATEGIC SERIES CENTRAL INDEX KEY: 0000872625 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-39088 FILM NUMBER: 201289352 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-570-3000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CALIFORNIA 250 GROWTH FUND DATE OF NAME CHANGE: 19911216 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CALIFORNIA 250 GROWTH INDEX FUND DATE OF NAME CHANGE: 19910917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON DEVELOPING MARKETS TRUST CENTRAL INDEX KEY: 0000878087 IRS NUMBER: 593078238 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-42163 FILM NUMBER: 201289357 BUSINESS ADDRESS: STREET 1: 300 S.E. 300 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 300 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN MUNICIPAL SECURITIES TRUST CENTRAL INDEX KEY: 0000881309 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-44132 FILM NUMBER: 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ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON GLOBAL INVESTMENT TRUST CENTRAL INDEX KEY: 0000916488 IRS NUMBER: 650568935 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-73244 FILM NUMBER: 201289358 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545727591 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON CHINA WORLD FUND CENTRAL INDEX KEY: 0000909226 IRS NUMBER: 593192206 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-104602 FILM NUMBER: 201289356 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON CHINA WORLD FUND INC DATE OF NAME CHANGE: 19930716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN FUND ALLOCATOR SERIES CENTRAL INDEX KEY: 0001022804 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-13601 FILM NUMBER: 201289340 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-4018 MAIL ADDRESS: STREET 1: FRANKLIN FUND ALLOCATOR SERIES STREET 2: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN TEMPLETON FUND ALLOCATOR SERIES DATE OF NAME CHANGE: 19960912 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN GLOBAL TRUST CENTRAL INDEX KEY: 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S000006925 FRANKLIN OHIO TAX-FREE INCOME FUND C000018786 CLASS A1 FTOIX C000018788 CLASS C FOITX C000068552 ADVISOR CLASS FROZX C000194366 Class R6 FKTOX C000205904 Class A FOHQX 0000757010 S000006926 FRANKLIN OREGON TAX-FREE INCOME FUND C000018789 CLASS A1 FRORX C000018790 CLASS C FORIX C000079640 ADVISOR CLASS FOFZX C000194367 Class R6 FOFRX C000205905 Class A FOFQX 0000757010 S000006927 FRANKLIN PENNSYLVANIA TAX-FREE INCOME FUND C000018791 CLASS A1 FRPAX C000018793 CLASS C FRPTX C000079641 ADVISOR CLASS FPFZX C000194368 Class R6 FRPRX C000205906 Class A FPAQX 0000757010 S000006928 FRANKLIN VIRGINIA TAX-FREE INCOME FUND C000018794 CLASS A1 FRVAX C000018795 CLASS C FVAIX C000079642 ADVISOR CLASS FRVZX C000194369 Class R6 FRVRX C000205907 Class A FVAQX 0000757010 S000006929 FRANKLIN COLORADO TAX-FREE INCOME FUND C000018796 CLASS A1 FRCOX C000018797 CLASS C FCOIX C000079643 ADVISOR CLASS FCOZX C000194370 Class R6 FKTLX C000205908 Class A FCOQX 0000757010 S000006930 FRANKLIN CONNECTICUT TAX-FREE INCOME FUND C000018798 CLASS A1 FXCTX C000018799 CLASS C FCTIX C000079644 ADVISOR CLASS FCNZX C000194371 Class R6 FCTQX C000205909 Class A FQCTX 0000757010 S000006932 FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND C000018802 CLASS A1 FKITX C000018803 CLASS C FCITX C000074134 ADVISOR CLASS FITZX C000194372 Class R6 FITQX C000205910 Class A FKQTX 0000757010 S000006933 FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND C000018804 CLASS A1 FFTFX C000096868 Advisor Class FTFZX C000194373 Class R6 FFTRX C000205911 Class A FFLQX 0000757010 S000006935 FRANKLIN FLORIDA TAX-FREE INCOME FUND C000018806 CLASS A1 FRFLX C000018808 CLASS C FRFIX C000173669 Advisor Class FFTZX C000194374 Class R6 FRFQX C000205912 Class A FQFLX 0000757010 S000066695 Franklin Municipal Green Bond Fund C000214930 Advisor Class FGBKX C000214931 Class A FGBGX C000214932 Class C FGBHX C000214933 Class R6 FGBJX 0000773478 S000006719 FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME FUND C000018281 CLASS A1 FKCIX C000018282 CLASS C FCCIX C000073519 ADVISOR FRCZX C000194407 Class R6 FCCRX C000198605 Class A FCCQX 0000795402 S000008754 Templeton Global Bond Fund C000023828 Class A TPINX C000023829 Class C TEGBX C000023830 Advisor Class TGBAX C000075045 Class R FGBRX C000128750 Class R6 FBNRX 0000795402 S000019674 Templeton International Bond Fund C000055044 Class A TBOAX C000055045 Class C FCNBX C000055046 Class R C000055047 Advisor Class FIBZX C000194388 Class R6 FIBQX 0000795402 S000023539 Templeton Global Total Return Fund C000069254 Class A TGTRX C000069255 Class C TTRCX C000069256 Class R FRRGX C000069257 Advisor Class TTRZX C000128751 Class R6 FTTRX 0000795402 S000040303 Templeton Emerging Markets Bond Fund C000125198 Class A FEMGX C000125199 Class C FEMHX C000125200 Class R C000125201 Class R6 C000125202 Advisor Class FEMZX 0000798523 S000006871 FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND C000018602 CLASS A1 FKNIX C000018603 CLASS C FKNCX C000074136 ADVISOR CLASS FNYZX C000194379 Class R6 FKNRX C000205891 Class A FKNQX 0000805650 S000006858 FRANKLIN RISING DIVIDENDS FUND C000018531 ADVISOR CLASS FRDAX C000018532 CLASS A FRDPX C000018534 CLASS C FRDTX C000018535 CLASS R FRDRX C000128832 Class R6 FRISX 0000805664 S000008759 Templeton Growth Fund, Inc. C000023844 Class A TEPLX C000023847 Advisor Class TGADX C000023848 Class R TEGRX C000128735 Class R6 FTGFX C000204718 Class C FTGQX 0000809707 S000006850 FRANKLIN ADJUSTABLE U.S. GOVERNMENT SECURITIES FUND C000018509 CLASS A FISAX C000018510 CLASS C FCSCX C000064441 ADVISOR CLASS FAUZX C000133492 Class R6 C000140480 Class A1 FAUGX 0000809707 S000006851 FRANKLIN CONVERTIBLE SECURITIES FUND C000018511 CLASS A FISCX C000018512 CLASS C FROTX C000064442 ADVISOR CLASS FCSZX C000141439 Class R6 FCSKX 0000809707 S000006852 FRANKLIN EQUITY INCOME FUND C000018513 CLASS A FISEX C000018515 CLASS C FRETX C000018516 CLASS R FREIX C000064443 ADVISOR CLASS FEIFX C000128878 Class R6 FEIQX 0000809707 S000006853 FRANKLIN FLOATING RATE DAILY ACCESS FUND C000018517 CLASS A FAFRX C000018519 CLASS C FCFRX C000018520 ADVISOR CLASS FDAAX C000128879 Class R6 FFRDX 0000809707 S000006855 FRANKLIN LOW DURATION TOTAL RETURN FUND C000018523 CLASS A FLDAX C000064444 ADVISOR CLASS FLDZX C000120960 Class C FLDCX C000128881 Class R6 FLRRX C000215060 Class R FLPRX 0000809707 S000006857 FRANKLIN TOTAL RETURN FUND C000018526 CLASS A FKBAX C000018528 CLASS C FCTLX C000018529 ADVISOR CLASS FBDAX C000018530 CLASS R FTRRX C000128883 Class R6 FRERX 0000809707 S000012705 Franklin Managed Income Fund C000034238 CLASS A FBLAX C000034239 CLASS C FBMCX C000034240 CLASS R C000034241 ADVISOR CLASS FBFZX C000128884 Class R6 FBFRX 0000825063 S000007860 FRANKLIN MUTUAL BEACON FUND C000021373 CLASS A TEBIX C000021375 CLASS C TEMEX C000021376 CLASS Z BEGRX C000082421 CLASS R C000128727 Class R6 FMBRX 0000825063 S000007861 FRANKLIN MUTUAL GLOBAL DISCOVERY FUND C000021377 CLASS A TEDIX C000021379 CLASS C TEDSX C000021380 CLASS Z MDISX C000021381 CLASS R TEDRX C000128728 Class R6 FMDRX 0000825063 S000007862 FRANKLIN MUTUAL EUROPEAN FUND C000021382 CLASS A TEMIX C000021384 CLASS C TEURX C000021385 CLASS Z MEURX C000082422 CLASS R FMURX C000128729 Class R6 FMEUX 0000825063 S000007863 FRANKLIN MUTUAL QUEST FUND C000021386 CLASS A TEQIX C000021388 CLASS C TEMQX C000021389 CLASS Z MQIFX C000078832 CLASS R FMQSX C000128730 Class R6 FMQRX 0000825063 S000007864 FRANKLIN MUTUAL SHARES FUND C000021390 CLASS A TESIX C000021392 CLASS C TEMTX C000021393 CLASS Z MUTHX C000021394 CLASS R TESRX C000128731 Class R6 FMSHX 0000825063 S000007865 FRANKLIN MUTUAL FINANCIAL SERVICES FUND C000021395 CLASS A TFSIX C000021397 CLASS C TMFSX C000021398 CLASS Z TEFAX C000128732 Class R6 FMFVX 0000856119 S000007352 FRANKLIN MUTUAL U.S. VALUE FUND C000020187 CLASS A FRBSX C000020189 CLASS C FCBSX C000020190 ADVISOR CLASS FBSAX C000020191 CLASS R FBSRX C000128824 Class R6 FBSIX 0000856119 S000007354 FRANKLIN MICROCAP VALUE FUND C000020197 ADVISOR CLASS FVRMX C000020198 CLASS A FRMCX C000128826 Class R6 FMCVX 0000856119 S000007356 FRANKLIN SMALL CAP VALUE FUND C000020203 CLASS A FRVLX C000020205 CLASS C FRVFX C000020206 CLASS R FVFRX C000020207 ADVISOR CLASS FVADX C000128827 Class R6 FRCSX 0000865722 S000008751 International Equity Series C000023825 Primary Shares TFEQX C000037509 Service Shares TFESX 0000865722 S000008752 Foreign Smaller Companies Series C000023826 Advisor Class TFSCX 0000872625 S000006878 FRANKLIN GROWTH OPPORTUNITIES FUND C000018615 CLASS A FGRAX C000018617 CLASS C FKACX C000018618 ADVISOR CLASS FRAAX C000018619 CLASS R FKARX C000128860 Class R6 FOPPX 0000872625 S000006879 FRANKLIN STRATEGIC INCOME FUND C000018620 CLASS A FRSTX C000018622 CLASS C FSGCX C000018623 ADVISOR CLASS FKSAX C000018624 CLASS R FKSRX C000128861 Class R6 FGKNX 0000872625 S000006882 FRANKLIN BIOTECHNOLOGY DISCOVERY FUND C000018631 CLASS A FBDIX C000081539 ADVISOR CLASS FTDZX C000128862 Class R6 FRBRX C000141458 Class C FBTDX 0000872625 S000006887 FRANKLIN NATURAL RESOURCES FUND C000018647 CLASS C FNCRX C000018648 CLASS A FRNRX C000018649 ADVISOR CLASS FNRAX C000132949 Class R6 FNCSX 0000872625 S000006888 FRANKLIN SMALL-MID CAP GROWTH FUND C000018650 CLASS A FRSGX C000018652 CLASS C FRSIX C000018653 ADVISOR CLASS FSGAX C000018654 CLASS R FSMRX C000128864 Class R6 FMGGX 0000872625 S000006889 FRANKLIN SMALL CAP GROWTH FUND C000018655 CLASS A FSGRX C000018657 CLASS C FCSGX C000018658 ADVISOR CLASS FSSAX C000018659 CLASS R FSSRX C000128865 Class R6 FSMLX 0000872625 S000065648 Franklin Templeton SMACS: Series CH C000212373 Advisor Class FQCHX 0000872625 S000065649 Franklin Templeton SMACS: Series E C000212374 Advisor Class FQTEX 0000872625 S000065650 Franklin Templeton SMACS: Series H C000212375 Advisor Class FGTHX 0000872625 S000065651 Franklin Templeton SMACS: Series I C000212376 Advisor Class FGTIX 0000878087 S000008756 Templeton Developing Markets Trust C000023832 Class A TEDMX C000023834 Class C TDMTX C000023835 Advisor Class TDADX C000023836 Class R TDMRX C000128734 Class R6 FDEVX 0000881309 S000006860 FRANKLIN CALIFORNIA HIGH YIELD MUNICIPAL FUND C000018537 CLASS A1 FCAMX C000018539 CLASS C FCAHX C000040036 ADVISOR CLASS FVCAX C000194351 CLASS R6 FCAQX C000205976 Class A FCQAX 0000881309 S000006861 FRANKLIN TENNESSEE MUNICIPAL BOND FUND C000018540 Class A1 FRTIX C000173664 Advisor Class C000194352 Class R6 FTMQX C000205977 Class A FTQMX 0000893226 S000006875 FRANKLIN STRATEGIC MORTGAGE PORTFOLIO C000018610 Class A1 FSMIX C000112386 Class A FSMFX C000112387 Class C C000112388 Advisor Class FSMZX C000194406 Class R6 FSMQX 0000909226 S000008743 Templeton China World Fund C000023803 Class A TCWAX C000023805 Class C TCWCX C000023806 Advisor Class TACWX C000128752 Class R6 FCWRX 0000912291 S000006874 FRANKLIN REAL ESTATE SECURITIES FUND C000018606 CLASS A FREEX C000018608 CLASS C FRRSX C000018609 ADVISOR CLASS FRLAX C000128754 Class R6 FSERX 0000916488 S000008749 Templeton Global Balanced Fund C000023820 Class C FCGBX C000023821 Class R C000023822 Advisor Class TZINX C000023823 Class A1 TINCX C000102038 Class C1 TCINX C000105289 Class A TAGBX C000128755 Class R6 0000916488 S000013684 Templeton Emerging Markets Small Cap Fund C000037523 Class A TEMMX C000037524 Class C TCEMX C000037525 Class R FTESX C000037526 Advisor Class TEMZX C000194466 Class R6 FTEQX 0001022804 S000007239 FRANKLIN CONSERVATIVE ALLOCATION FUND C000019840 ADVISOR CLASS FTCZX C000019841 CLASS A FTCIX C000019842 CLASS C FTCCX C000019843 CLASS R FTCRX C000126011 Class R6 0001022804 S000007240 FRANKLIN COREFOLIO ALLOCATION FUND C000019844 CLASS A FTCOX C000019846 CLASS C FTCLX C000019847 CLASS R C000019848 ADVISOR CLASS FCAZX C000194375 Class R6 FTLQX 0001022804 S000007241 FRANKLIN FOUNDING FUNDS ALLOCATION FUND C000019849 CLASS A FFALX C000019851 CLASS C FFACX C000019852 CLASS R FFARX C000019853 ADVISOR CLASS FFAAX C000194376 Class R6 FFAQX 0001022804 S000007242 FRANKLIN GROWTH ALLOCATION FUND C000019855 ADVISOR CLASS FGTZX C000019856 CLASS A FGTIX C000019857 CLASS C FTGTX C000019858 CLASS R FGTRX C000126012 Class R6 0001022804 S000007243 FRANKLIN MODERATE ALLOCATION FUND C000019860 ADVISOR CLASS FMTZX C000019861 CLASS A FMTIX C000019862 CLASS C FTMTX C000019863 CLASS R FTMRX C000126013 Class R6 0001022804 S000012937 Franklin LifeSmart Retirement Income Fund C000034925 CLASS A FTRAX C000034926 CLASS C FRTCX C000034927 CLASS R FBRLX C000034928 ADVISOR CLASS FLRDX C000126014 Class R6 FLMTX 0001022804 S000012938 Franklin LifeSmart 2025 Retirement Target Fund C000034929 CLASS A FTRTX C000034930 CLASS C FTTCX C000034931 CLASS R FRELX C000034932 ADVISOR CLASS FLRFX C000126015 Class R6 FTLMX 0001022804 S000012939 Franklin LifeSmart 2035 Retirement Target Fund C000034933 CLASS C FTRCX C000034934 CLASS R FLRGX C000034935 ADVISOR CLASS FLRHX C000034936 CLASS A FRTAX C000126016 Class R6 FMTLX 0001022804 S000012940 Franklin LifeSmart 2045 Retirement Target Fund C000034937 CLASS A FTTAX C000034938 CLASS C FLRIX C000034939 CLASS R FLRJX C000034940 ADVISOR CLASS FLRLX C000126017 Class R6 FMLTX 0001022804 S000041337 Franklin LifeSmart 2020 Retirement Target Fund C000128212 Class A FLRMX C000128213 Class C FLRQX C000128214 Class R FLRVX C000128215 Class R6 FRTSX C000128216 Advisor Class FLROX 0001022804 S000041338 Franklin LifeSmart 2030 Retirement Target Fund C000128217 Advisor Class FLRZX C000128218 Class A FLRSX C000128219 Class C FLRTX C000128220 Class R FLRWX C000128221 Class R6 FLERX 0001022804 S000041339 Franklin LifeSmart 2040 Retirement Target Fund C000128222 Class A FLADX C000128223 Class C FLOLX C000128224 Class R FLSGX C000128225 Class R6 FLREX C000128226 Advisor Class FLSHX 0001022804 S000041340 Franklin LifeSmart 2050 Retirement Target Fund C000128227 Class A FLSJX C000128228 Class C FLSKX C000128229 Class R FLSNX C000128230 Class R6 FRLEX C000128231 Advisor Class FLSOX 0001022804 S000049109 Franklin LifeSmart 2055 Retirement Target Fund C000154867 Class A FLTFX C000154868 Class C FLTNX C000154869 Class R FLSBX C000154870 Class R6 FLSZX C000154871 Class Advisor FLTKX 0001022804 S000049455 Franklin Payout 2020 Fund C000156349 Class R6 FPOGX C000156350 Advisor Class FPOHX 0001022804 S000049456 Franklin Payout 2021 Fund C000156351 Advisor Class FPOMX C000156352 Class R6 FPOJX 0001022804 S000049457 Franklin Payout 2022 Fund C000156353 Class R6 FPONX C000156354 Advisor Class FPOQX 0001022804 S000049458 Franklin Payout 2023 Fund C000156355 Class R6 C000156356 Advisor Class 0001022804 S000066091 Franklin Emerging Market Core Equity (IU) Fund C000213628 Advisor FCEEX 0001022804 S000066092 Franklin International Core Equity (IU) Fund C000213629 Advisor FCENX 0001022804 S000066093 Franklin U.S. Core Equity (IU) Fund C000213630 Advisor FCEUX 0001124459 S000007443 FRANKLIN INTERNATIONAL SMALL CAP FUND C000020417 ADVISOR CLASS FKSCX C000071207 CLASS A FINAX C000071208 CLASS C FCSMX C000071209 CLASS R FISDX C000128790 Class R6 FCAPX 0001124459 S000012347 Franklin Emerging Market Debt Opportunities Fund C000033574 Franklin Emerging Market Debt Opportunities Fund FEMDX 0001124459 S000022425 Franklin International Growth Fund C000064524 CLASS A FNGAX C000067641 CLASS C C000067642 CLASS R C000067643 ADVISOR CLASS FNGZX C000128792 Class R6 FILRX 0001535538 S000042023 Franklin K2 Alternative Strategies Fund C000130561 Class A FAAAX C000130562 Class C FASCX C000130563 Class R FSKKX C000130564 Class R6 FASRX C000130565 Advisor Class FABZX 0001535538 S000049976 Franklin K2 Long Short Credit Fund C000157807 Advisor Class FKLZX C000157808 Class A FKLSX C000157809 Class C FKLCX C000157810 Class R FKLRX C000157811 Class R6 FKLQX 497 1 gofp101120.htm GOF_497_110520 gofp101120.htm - Generated by SEC Publisher for SEC Filing

GOF P10 11/20

 

 

SUPPLEMENT DATED NOVEMBER 5, 2020

TO THE CURRENTLY EFFECTIVE PROSPECTUSES

OF EACH OF THE FUNDS LISTED BELOW

 

Franklin Alternative Strategies Funds

Franklin K2 Alternative Strategies Fund

Franklin K2 Long Short Credit Fund

Franklin California Tax-Free Income Fund

Franklin California Tax-Free Trust

Franklin California Intermediate-Term Tax-Free Income Fund

Franklin Custodian Funds

Franklin DynaTech Fund

Franklin Focused Growth Fund

Franklin Growth Fund

Franklin Income Fund

Franklin U.S. Government Securities Fund

Franklin Utilities Fund

Franklin Federal Tax-Free Income Fund

Franklin Fund Allocator Series

Franklin Corefolio Allocation Fund

Franklin Founding Funds Allocation Fund

Franklin LifeSmart™ Retirement Income Fund

Franklin LifeSmart™ 2020 Retirement Target Fund

Franklin LifeSmart™ 2025 Retirement Target Fund

Franklin LifeSmart™ 2030 Retirement Target Fund

Franklin LifeSmart™ 2035 Retirement Target Fund

Franklin LifeSmart™ 2040 Retirement Target Fund

Franklin LifeSmart™ 2045 Retirement Target Fund

Franklin LifeSmart™ 2050 Retirement Target Fund

Franklin LifeSmart™ 2055 Retirement Target Fund

Franklin Conservative Allocation Fund

Franklin Moderate Allocation Fund

Franklin Growth Allocation Fund

Franklin Payout 2020 Fund

Franklin Payout 2021 Fund

Franklin Payout 2022 Fund

Franklin Payout 2023 Fund

Franklin International Core Equity (IU) Fund

Franklin U.S. Core Equity (IU) Fund

Franklin Emerging Market Core Equity (IU) Fund

Franklin Global Trust

Franklin Emerging Markets Debt Opportunities Fund

Franklin International Growth Fund

Franklin International Small Cap Growth Fund

Franklin Gold and Precious Metals Fund

Franklin High Income Trust

Franklin High Income Fund

Franklin Investors Securities Trust

Franklin Adjustable U.S. Government Securities Fund

Franklin Convertible Securities Fund

Franklin Equity Income Fund

Franklin Floating Rate Daily Access Fund

Franklin Low Duration Total Return Fund

Franklin Managed Income Fund

Franklin Total Return Fund

Franklin Managed Trust

Franklin Rising Dividends Fund

Franklin Municipal Securities Trust

Franklin California High Yield Municipal Fund

Franklin Tennessee Municipal Bond Fund

Franklin Mutual Series Funds

Franklin Mutual Beacon Fund

Franklin Mutual European Fund

Franklin Mutual Financial Services Fund

Franklin Mutual Global Discovery Fund

Franklin Mutual Quest Fund

Franklin Mutual Shares Fund

Franklin New York Tax-Free Income Fund

Franklin New York Tax-Free Trust

Franklin New York Intermediate-Term Tax-Free Income Fund

Franklin Real Estate Securities Trust

Franklin Real Estate Securities Fund

Franklin Strategic Mortgage Portfolio

Franklin Strategic Series

Franklin Biotechnology Discovery Fund

Franklin Growth Opportunities Fund

Franklin Natural Resources Fund

Franklin Small Cap Growth Fund

Franklin Small-Mid Cap Growth Fund

Franklin Strategic Income Fund

Franklin Templeton SMACS: Series E

Franklin Templeton SMACS: Series I

Franklin Templeton SMACS: Series CH

Franklin Templeton SMACS: Series H

Franklin Tax-Free Trust

Franklin Federal Intermediate-Term Tax-Free Income Fund

Franklin Federal Limited-Term Tax-Free Income Fund

Franklin High Yield Tax-Free Income Fund

Franklin Massachusetts Tax-Free Income Fund

Franklin New Jersey Tax-Free Income Fund

Franklin Alabama Tax-Free Income Fund

Franklin Florida Tax-Free Income Fund

Franklin Georgia Tax-Free Income Fund

Franklin Kentucky Tax-Free Income Fund

Franklin Louisiana Tax-Free Income Fund

Franklin Maryland Tax-Free Income Fund

Franklin Missouri Tax-Free Income Fund

Franklin Municipal Green Bond Fund

Franklin North Carolina Tax-Free Income Fund

Franklin Virginia Tax-Free Income Fund

Franklin Arizona Tax-Free Income Fund

Franklin Colorado Tax-Free Income Fund

Franklin Connecticut Tax-Free Income Fund

Franklin Michigan Tax-Free Income Fund

Franklin Minnesota Tax-Free Income Fund

Franklin Ohio Tax-Free Income Fund

Franklin Oregon Tax-Free Income Fund

Franklin Pennsylvania Tax-Free Income Fund

Franklin U.S. Government Money Fund

Franklin Value Investors Trust

Franklin MicroCap Value Fund

Franklin Mutual U.S. Value Fund

Franklin Small Cap Value Fund

Templeton China World Fund

Templeton Developing Markets Trust

Templeton Funds

Templeton Foreign Fund

Templeton World Fund

Templeton International Climate Change Fund

Templeton Global Investment Trust

Templeton Emerging Markets Small Cap Fund

Templeton Global Balanced Fund

Templeton Global Smaller Companies Fund

Templeton Growth Fund, Inc.  

Templeton Income Trust

Templeton Emerging Markets Bond Fund

Templeton Global Bond Fund

Templeton Global Total Return Fund

Templeton International Bond Fund

Templeton Institutional Funds

Foreign Smaller Companies Series

International Equity Series

 

<BCLPAGE>1</BCLPAGE>

 

 

I.  The first paragraph under the “Your Account – Account Policies – Accounts with Low Balances” section of the prospectus is replaced with the following:

If your account has been open for more than one year and its value falls below $500, we will mail you a notice asking you to bring the account back up to its applicable minimum investment amount. If you choose not to do so within 30 days, we will close your account and proceeds will be sent by Electronic Fund Transfer (ACH) to your bank information on file. If we do not have this information, proceeds will be mailed to the address of record. You will not be charged a CDSC if your account is closed for this reason. This policy does not apply to: (1) certain broker-controlled accounts established through the National Securities Clearing Corporation’s Networking system; (2) Class A or A1 accounts established pursuant to a conversion from Class C or C1, and any remaining Class C or C1 accounts involved in the conversion, with a low balance due to the conversion; (3) tax-deferred retirement plan accounts; (4) active automatic investment plan accounts; (5) accounts in an Advisory Fee Program; (6) accounts held through a 529 college savings program; (7) Coverdell Education Savings Plan accounts; and (8) accounts currently maintained via robo advice driven services where account investments and reallocations are done through an automated, algorithm-driven platform.

II.  The “Your Account – Account Policies – Dealer Compensation – Purchases of certain share classes through financial intermediaries – Other financial intermediary compensation” section of the prospectus is replaced with the following:

Other financial intermediary compensation  Except with respect to Class R6 shares, Distributors may make marketing support payments (a portion of which may be reimbursable under the terms of the Fund's Rule 12b-1 distribution plans) to certain dealers and other financial intermediaries, such as banks, insurance companies, or plan administrators, in connection with their efforts to educate financial advisors or provide other services which may facilitate, directly or indirectly, investment in Franklin Templeton mutual funds. In the case of any one intermediary, marketing support payments generally will not exceed 0.05% of the total assets of Franklin Templeton mutual funds attributable to that intermediary, on an annual basis. For an intermediary exceeding $50 billion in total assets of Franklin Templeton mutual funds, Distributors may agree to make annual marketing support payments up to a limit of 0.06% of such assets.  In other limited circumstances, Distributors or an affiliate will have alternative arrangements with an intermediary that provide for payments in excess of the 0.05% limitation, which may include arrangements based on assets or sales of the funds, combined assets or sales of related funds, or other criteria.  Marketing support payments made to organizations located outside the U.S., with respect to investments in the Fund by non-U.S. persons, also may exceed this limitation. Any assets held on behalf of Employer Sponsored Retirement Plans for which payment is made to a financial intermediary pursuant to the following paragraph will be excluded from the calculation of marketing support payments pursuant to this paragraph.  You should contact your financial intermediary to determine the amount of any compensation it may receive from Distributors or its affiliates.

Except with respect to Class R6 shares, Distributors and/or its affiliates may also make payments (a portion of which may be reimbursable under the terms of the Fund’s Rule 12b-1 distribution plans) to certain financial intermediaries in connection with their activities that are intended to assist in the sale of shares of Franklin Templeton mutual funds, directly or indirectly, to certain Employer Sponsored Retirement Plans. In the case of any one financial intermediary, such payments will not exceed 0.10% of the total assets of Franklin Templeton mutual funds held, directly or indirectly, by such Employer Sponsored Retirement Plans, on an annual basis.

A number of factors will be considered in determining these payments, including the qualifying financial intermediary’s sales, assets and redemption rates, the nature and quality of any servicing provided by the financial intermediary, and the quality of the financial intermediary’s relationship with Distributors. Distributors will, on an annual basis, determine the advisability of continuing these payments. These payments may be in addition to any shareholder servicing fees paid by the Fund’s transfer agent from payments it receives under its agreement with the Fund.

To the extent permitted by SEC and Financial Industry Regulatory Authority rules and other applicable laws and regulations, Distributors may, in addition to marketing support payments, pay or allow other promotional incentives or payments to financial intermediaries, such as payments related to transaction support, various financial intermediary-sponsored events intended to educate financial advisers and their clients about the Franklin Templeton mutual funds, and data analytics and support.

Sales of Fund shares, as well as shares of other mutual funds in Franklin Templeton, is not considered a factor in the selection of financial intermediaries to execute the Fund’s portfolio transactions. Accordingly, the allocation of portfolio transactions for execution by financial intermediaries that sell Fund shares is not considered marketing support payments to such financial intermediaries.

<BCLPAGE>1</BCLPAGE>

 

 

You can find further details in the SAI about the payments made by Distributors and the services provided by your financial advisor. Your financial advisor may charge you additional fees or commissions other than those disclosed in this prospectus. You should ask your financial advisor for information about any payments it receives from Distributors and any services it provides, as well as about fees and/or commissions it charges.

III. The “Appendix A – Ameriprise Financial” section in the prospectus is replaced with the following:

CLASS A AND CLASS C PURCHASES THROUGH AMERIPRISE FINANCIAL

Automatic exchange of Class C shares.  Class C shares will automatically exchange to Class A shares in the month of the 10-year anniversary of the purchase date. Effective January 15, 2021, the anniversary year of the purchase date will change to 7-years.

Class A Shares Front-End Sales Charge Waivers Available at Ameriprise Financial:

The following information applies to Class A shares purchases if you have an account with or otherwise purchase Fund shares through Ameriprise Financial:

Effective June 1, 2018, shareholders purchasing Fund shares through an Ameriprise Financial platform or account will be eligible for the following front-end sales charge waivers and discounts, which may differ from those disclosed elsewhere in this Fund’s prospectus or SAI:

·         Employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs or SAR-SEPs.

·         Shares purchased through an Ameriprise Financial investment advisory program (if an Advisory or similar share class for such investment advisory program is not available).

·         Shares purchased by third party investment advisors on behalf of their advisory clients through Ameriprise Financial’s platform (if an Advisory or similar share class for such investment advisory program is not available).

·         Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same Fund (but not any other fund within the same fund family).

·         Shares exchanged from Class C shares of the same fund in the month of or following the 10-year anniversary of the purchase date (effective January 15, 2021, the anniversary year of the purchase date will change to 7-years).  To the extent that this prospectus elsewhere provides for a waiver with respect to such shares following a shorter holding period, that waiver will apply to exchanges following such shorter period. To the extent that this prospectus elsewhere provides for a waiver with respect to exchanges of Class C shares for load waived shares, that waiver will also apply to such exchanges.

·         Employees and registered representatives of Ameriprise Financial or its affiliates and their immediate family members.

·         Shares purchased by or through qualified accounts (including IRAs, Coverdell Education Savings Accounts, 401(k)s, 403(b) TSCAs subject to ERISA and defined benefit plans) that are held by a covered family member, defined as an Ameriprise financial advisor and/or the advisor’s spouse, advisor’s lineal ascendant (mother, father, grandmother, grandfather, great grandmother, great grandfather), advisor’s lineal descendant (son, daughter, grandson, granddaughter, great grandson, great granddaughter) or any spouse of a covered family member who is a lineal descendant.

·         Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (i.e. Rights of Reinstatement).

IV. The “Appendix A – Edward J. Jones & Co.” section in the prospectus is replaced with the following:

Edward D. Jones & Co., L.P. ("EDWARD JONES")

 

Policies Regarding Transactions Through Edward Jones

 

Effective on or after December 1, 2020, the following information supersedes prior information with respect to transactions and positions held in fund shares through an Edward Jones system. Clients of Edward Jones (also referred to as “shareholders”) purchasing fund shares on the Edward Jones commission and fee-based platforms are eligible only for the following sales charge discounts (also referred to as “breakpoints”) and waivers, which can differ from discounts and waivers described elsewhere in the mutual fund prospectus or statement of additional information ("SAI") or through another broker-dealer. In all instances, it is the shareholder’s responsibility to inform Edward Jones at the time of purchase of any relationship, holdings of the Franklin Templeton and Legg Mason Funds, or other facts qualifying the purchaser for discounts or waivers. Edward Jones can ask for documentation of such circumstance. Shareholders should contact Edward Jones if they have questions regarding their eligibility for these discounts and waivers.

<BCLPAGE>1</BCLPAGE>

 

 

 

Breakpoints

·         Breakpoint pricing, otherwise known as volume pricing, at dollar thresholds as described in the prospectus.

 

Rights of Accumulation ("ROA")

·         The applicable sales charge on a purchase of Class A shares is determined by taking into account all share classes (except any assets held in group retirement plans) of the Franklin Templeton and Legg Mason Funds held by the shareholder or in an account grouped by Edward Jones with other accounts for the purpose of providing certain pricing considerations (“pricing groups”). If grouping assets as a shareholder, this includes all share classes held on the Edward Jones platform and/or held on another platform. The inclusion of eligible fund family assets in the ROA calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation.

·         The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping as opposed to including all share classes at a shareholder or pricing group level.

·         ROA is determined by calculating the higher of cost minus redemptions or market value (current shares x NAV).

 

Letter of Intent ("LOI")

·         Through a LOI, shareholders can receive the sales charge and breakpoint discounts for purchases shareholders intend to make over a 13-month period from the date Edward Jones receives the LOI. The LOI is determined by calculating the higher of cost or market value of qualifying holdings at LOI initiation in combination with the value that the shareholder intends to buy over a 13-month period to calculate the front-end sales charge and any breakpoint discounts. Each purchase the shareholder makes during that 13-month period will receive the sales charge and breakpoint discount that applies to the total amount. The inclusion of eligible fund family assets in the LOI calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation. Purchases made before the LOI is received by Edward Jones are not adjusted under the LOI and will not reduce the sales charge previously paid. Sales charges will be adjusted if LOI is not met.

·         If the employer maintaining a SEP IRA plan and/or SIMPLE IRA plan has elected to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping, LOIs will also be at the plan-level and may only be established by the employer.

 

 

Sales Charge Waivers

Sales charges are waived for the following shareholders and in the following situations:

·         Associates of Edward Jones and its affiliates and their family members who are in the same pricing group (as determined by Edward Jones under its policies and procedures) as the associate. This waiver will continue for the remainder of the associate’s life if the associate retires from Edward Jones in good-standing and remains in good standing pursuant to Edward Jones' policies and procedures.

·         Shares purchased in an Edward Jones fee-based program.

·         Shares purchased through reinvestment of capital gains distributions and dividend reinvestment.

·         Shares purchased from the proceeds of redeemed shares of the same fund family so long as the following conditions are met: 1) the proceeds are from the sale of shares within 60 days of the purchase, and 2) the sale and purchase are made in the same share class and the same account or the purchase is made in an individual retirement account with proceeds from liquidations in a non-retirement account.

·         Shares exchanged into Class A shares from another share class so long as the exchange is into the same fund and was initiated at the discretion of Edward Jones. Edward Jones is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sales charge as disclosed in the prospectus.

<BCLPAGE>1</BCLPAGE>

 

 
 

·         Exchanges from Class C shares to Class A shares of the same fund, generally, in the 84th month following the anniversary of the purchase date or earlier at the discretion of Edward Jones.

 

Contingent Deferred Sales Charge ("CDSC") Waivers

If the shareholder purchases shares that are subject to a CDSC and those shares are redeemed before the CDSC is expired, the shareholder is responsible to pay the CDSC except in the following conditions:

·         The death or disability of the shareholder.

·         Systematic withdrawals with up to 10% per year of the account value.

·         Return of excess contributions from an Individual Retirement Account (IRA).

·         Shares sold as part of a required minimum distribution for IRA and retirement accounts if the redemption is taken in or after the year the shareholder reaches qualified age based on applicable IRS regulations.

·         Shares sold to pay Edward Jones fees or costs in such cases where the transaction is initiated by Edward Jones.

·         Shares exchanged in an Edward Jones fee-based program.

·         Shares acquired through NAV reinstatement.

·         Shares redeemed at the discretion of Edward Jones for Minimum Balances, as described below.

Other Important Information Regarding Transactions Through Edward Jones

 

Minimum Purchase Amounts

·         Initial purchase minimum: $250

·         Subsequent purchase minimum: none


Minimum Balances

·         Edward Jones has the right to redeem at its discretion fund holdings with a balance of $250 or less. The following are examples of accounts that are not included in this policy:

o    A fee-based account held on an Edward Jones platform

o    A 529 account held on an Edward Jones platform

o    An account with an active systematic investment plan or letter of intent (LOI)

 

 

Exchanging Share Classes

·         At any time it deems necessary, Edward Jones has the authority to exchange at NAV a shareholder’s holdings in a fund to Class A shares of the same fund.

Please keep this supplement with your prospectus for future reference.

 
 

GOF SA5 11/20

 

 

SUPPLEMENT DATED NOVEMBER 5, 2020

TO THE CURRENTLY EFFECTIVE STATEMENTS OF ADDITIONAL INFORMATION

OF EACH OF THE FUNDS LISTED BELOW

 

Franklin Alternative Strategies Funds

Franklin K2 Alternative Strategies Fund

Franklin K2 Long Short Credit Fund

Franklin California Tax-Free Income Fund

Franklin California Tax-Free Trust

Franklin California Intermediate-Term Tax-Free Income Fund

Franklin Custodian Funds

Franklin DynaTech Fund

Franklin Focused Growth Fund

Franklin Growth Fund

Franklin Income Fund

Franklin U.S. Government Securities Fund

Franklin Utilities Fund

Franklin Federal Tax-Free Income Fund

Franklin Fund Allocator Series

Franklin Corefolio Allocation Fund

Franklin Founding Funds Allocation Fund

Franklin LifeSmart™ Retirement Income Fund

Franklin LifeSmart™ 2020 Retirement Target Fund

Franklin LifeSmart™ 2025 Retirement Target Fund

Franklin LifeSmart™ 2030 Retirement Target Fund

Franklin LifeSmart™ 2035 Retirement Target Fund

Franklin LifeSmart™ 2040 Retirement Target Fund

Franklin LifeSmart™ 2045 Retirement Target Fund

Franklin LifeSmart™ 2050 Retirement Target Fund

Franklin LifeSmart™ 2055 Retirement Target Fund

Franklin Conservative Allocation Fund

Franklin Moderate Allocation Fund

Franklin Growth Allocation Fund

Franklin Payout 2020 Fund

Franklin Payout 2021 Fund

Franklin Payout 2022 Fund

Franklin Payout 2023 Fund

Franklin International Core Equity (IU) Fund

Franklin U.S. Core Equity (IU) Fund

Franklin Emerging Market Core Equity (IU) Fund

Franklin Global Trust

Franklin Emerging Markets Debt Opportunities Fund

Franklin International Growth Fund

Franklin International Small Cap Growth Fund

Franklin Gold and Precious Metals Fund

Franklin High Income Trust

Franklin High Income Fund

Franklin Investors Securities Trust

Franklin Adjustable U.S. Government Securities Fund

Franklin Convertible Securities Fund

Franklin Equity Income Fund

Franklin Floating Rate Daily Access Fund

Franklin Low Duration Total Return Fund

Franklin Managed Income Fund

Franklin Total Return Fund

Franklin Managed Trust

Franklin Rising Dividends Fund

Franklin Municipal Securities Trust

Franklin California High Yield Municipal Fund

Franklin Tennessee Municipal Bond Fund

Franklin Mutual Series Funds

Franklin Mutual Beacon Fund

Franklin Mutual European Fund

Franklin Mutual Financial Services Fund

Franklin Mutual Global Discovery Fund

Franklin Mutual Quest Fund

Franklin Mutual Shares Fund

Franklin New York Tax-Free Income Fund

Franklin New York Tax-Free Trust

Franklin New York Intermediate-Term Tax-Free Income Fund

Franklin Real Estate Securities Trust

Franklin Real Estate Securities Fund

Franklin Strategic Mortgage Portfolio

Franklin Strategic Series

Franklin Biotechnology Discovery Fund

Franklin Growth Opportunities Fund

Franklin Natural Resources Fund

Franklin Small Cap Growth Fund

Franklin Small-Mid Cap Growth Fund

Franklin Strategic Income Fund

Franklin Templeton SMACS: Series E

Franklin Templeton SMACS: Series I

Franklin Templeton SMACS: Series CH

Franklin Templeton SMACS: Series H

Franklin Tax-Free Trust

Franklin Federal Intermediate-Term Tax-Free Income Fund

Franklin Federal Limited-Term Tax-Free Income Fund

Franklin High Yield Tax-Free Income Fund

Franklin Massachusetts Tax-Free Income Fund

Franklin New Jersey Tax-Free Income Fund

Franklin Alabama Tax-Free Income Fund

Franklin Florida Tax-Free Income Fund

Franklin Georgia Tax-Free Income Fund

Franklin Kentucky Tax-Free Income Fund

Franklin Louisiana Tax-Free Income Fund

Franklin Maryland Tax-Free Income Fund

Franklin Missouri Tax-Free Income Fund

Franklin Municipal Green Bond Fund

Franklin North Carolina Tax-Free Income Fund

Franklin Virginia Tax-Free Income Fund

Franklin Arizona Tax-Free Income Fund

Franklin Colorado Tax-Free Income Fund

Franklin Connecticut Tax-Free Income Fund

Franklin Michigan Tax-Free Income Fund

Franklin Minnesota Tax-Free Income Fund

Franklin Ohio Tax-Free Income Fund

Franklin Oregon Tax-Free Income Fund

Franklin Pennsylvania Tax-Free Income Fund

Franklin U.S. Government Money Fund

Franklin Value Investors Trust

Franklin MicroCap Value Fund

Franklin Mutual U.S. Value Fund

Franklin Small Cap Value Fund

Templeton China World Fund

Templeton Developing Markets Trust

Templeton Funds

Templeton Foreign Fund

Templeton World Fund

Templeton International Climate Change Fund

Templeton Global Investment Trust

Templeton Emerging Markets Small Cap Fund

Templeton Global Balanced Fund

Templeton Global Smaller Companies Fund

Templeton Growth Fund, Inc.  

Templeton Income Trust

Templeton Emerging Markets Bond Fund

Templeton Global Bond Fund

Templeton Global Total Return Fund

Templeton International Bond Fund

Templeton Institutional Funds

Foreign Smaller Companies Series

International Equity Series

1

 

 
 

I.  In the “Officers and Trustees – Interested Board Members and Officers” table in the Statement of Additional Information (SAI), references to Robert C. Rosselot, if any, are removed, and the following is added:

Name, Year of Birth and Address

Position

Length of Time Served

Number of Portfolios in Fund Complex Overseen by Board Member

Other Directorships Held During at Least the Past 5 Years

Breda M. Beckerle (1958)

280 Park Avenue

New York, NY 10017

Chief Compliance Officer

Since October 2020

Not Applicable

Not Applicable

Principal Occupation During at Least the Past 5 Years:

Chief Compliance Officer, Fiduciary Investment Management International, Inc., Franklin Advisers, Inc., Franklin Advisory Services, LLC, Franklin Mutual Advisers, LLC, Franklin Templeton Institutional, LLC; and officer of 41 of the investment companies in Franklin Templeton.

II.  The “Officers and Trustees – Board role in risk oversight” or “Officers and Directors – Board role in risk oversight” (as applicable) section of the SAI is replaced with the following:

Board role in risk oversight  The board, as a whole, considers risk management issues as part of its general oversight responsibilities throughout the year at regular board meetings, through regular reports that have been developed by management, in consultation with the board and its counsel. These reports address certain investment, valuation, liquidity and compliance matters. The board also may receive special written reports or presentations on a variety of risk issues (e.g., COVID-19 related issues), either upon the board’s request or upon the investment manager’s initiative. In addition, the Audit Committee of the board meets regularly with the investment manager’s internal audit group to review reports on their examinations of functions and processes within Franklin Templeton that affect the Fund.

With respect to investment risk, the board receives regular written reports describing and analyzing the investment performance of the Fund. In addition, the portfolio managers of the Fund meet regularly with the board to discuss portfolio performance, including investment risk. To the extent that the Fund changes a particular investment strategy that could have a material impact on the Fund’s risk profile, the board generally is consulted with respect to such change. To the extent that the Fund invests in certain complex securities, including derivatives, the board receives periodic reports containing information about exposure of the Fund to such instruments. In addition, the investment manager’s investment risk personnel meet regularly with the board to discuss a variety of issues, including the impact on the Fund of the investment in particular securities or instruments, such as derivatives and commodities.

With respect to valuation, the Fund’s administrator provides regular written reports to the board that enable the board to monitor the number of fair valued securities in a particular portfolio, the reasons for the fair valuation and the methodology used to arrive at the fair value. The board also reviews dispositional analysis information on the sale of securities that require special valuation considerations such as illiquid or fair valued securities. In addition, the Fund’s Audit Committee reviews valuation procedures and results with the Fund’s auditors in connection with such Committee’s review of the results of the audit of the Fund’s year-end financial statements.

With respect to liquidity risk, the board receives regular liquidity risk management reports under the Fund’s Liquidity Risk Management (LRM) Program that include information concerning illiquid securities within the Fund’s portfolio. The board also reviews, no less frequently than annually, a written report prepared by the LRM Program Administrator that addresses, among other items, the operation of the LRM Program and assesses its adequacy and effectiveness of implementation as well as any material changes to the LRM Program.

With respect to compliance risks, the board receives regular compliance reports prepared by the investment manager’s compliance group and meets regularly with the Fund’s Chief Compliance Officer (CCO) to discuss compliance issues, including compliance risks. In accordance with SEC rules, the independent board members meet regularly in executive session with the CCO, and the Fund’s CCO prepares and presents an annual written compliance report to the board. The Fund’s board adopts compliance policies and procedures for the Fund and approves such procedures for the Fund’s service providers. The compliance policies and procedures are specifically designed to detect and prevent violations of the federal securities laws.

The investment manager periodically provides an enterprise risk management presentation to the board to describe the way in which risk is managed on a complex-wide level. Such presentation covers such areas as investment risk, reputational risk, personnel risk, and business continuity risk.

2

 

 
 

III. The “Fair Valuation and Liquidity” section of the prospectus is replaced with the following:

Fair Valuation

The Fund’s board of trustees has delegated to the investment manager the task of ensuring that regulatory guidelines governing the fair valuation for securities are applied to the Fund. The Fund’s administrator has formed a Valuation Committee (VC) to oversee these obligations. The VC oversees and administers the policies and procedures governing fair valuation determination of securities. The VC meets monthly to review and approve fair value reports and conduct other business, and meets whenever necessary to review potential significant market events and take appropriate steps to adjust valuations in accordance with established policies. The VC provides regular reports that document its activities to the board of trustees for its review and approval of pricing determinations at scheduled meetings.

The Fund's policies and procedures governing fair valuation determination of securities have been initially reviewed and approved by the board of trustees and any material amendments will also be reviewed and approved by the board. The investment manager's compliance staff conducts periodic reviews of compliance with the policies and provides at least annually a report to the board of trustees regarding the operation of the policies and any material changes recommended as a result of such review.

IV. The “Buying and Selling Shares – Initial Sales Charges – Purchases of certain share classes through financial intermediaries – Marketing Support Payments” section in the prospectus is replaced with the following:

Marketing support payments (applicable to all classes of shares except Class R6).     Distributors may make payments to certain financial intermediaries in connection with their efforts to educate financial advisors and provide services which may facilitate, directly or indirectly, investment in Franklin Templeton mutual funds. A financial intermediary’s marketing support services may include business planning assistance, advertising, educating financial intermediary personnel about Franklin Templeton mutual funds and shareholder financial planning needs, placement on the financial intermediary’s list of offered funds, and access to sales meetings, sales representatives and management representatives of the financial intermediary. Distributors compensates financial intermediaries differently depending upon, among other factors, sales and assets levels, redemption rates and the level and/or type of marketing and educational activities provided by the financial intermediary. Such compensation may include financial assistance to financial intermediaries that enable Distributors to participate in and/or present at conferences or seminars, sales or training programs for invited registered representatives and other employees, client and investor events and other financial intermediary-sponsored events. These payments may vary depending upon the nature of the event. Distributors will, on an annual basis, determine whether to continue such payments. In the case of any one financial intermediary, marketing support payments generally will not exceed 0.05% of the total assets of Franklin Templeton mutual funds attributable to that financial intermediary, on an annual basis. For a financial intermediary exceeding $50 billion in total assets of Franklin Templeton mutual funds, Distributors may agree to make annual marketing support payments up to a limit of 0.06% of such assets.  In other limited circumstances, Distributors or an affiliate will have alternative arrangements with an intermediary that provide for payments in excess of the 0.05% limitation, which may include arrangements based on assets or sales of the funds, combined assets or sales of related funds, or other criteria.  Any assets held on behalf of Employer Sponsored Retirement Plans for which payment is made to a financial intermediary pursuant to the following paragraph will be excluded from the calculation of marketing support payments pursuant to this paragraph.

Distributors may also make marketing support payments to financial intermediaries in connection with their activities that are intended to assist in the sale of shares of Franklin Templeton mutual funds, directly or indirectly, to certain Employer Sponsored Retirement Plans that have retained such financial intermediaries as plan service providers. Payments may be made on account of activities that may include, but are not limited to, one or more of the following: business planning assistance for financial intermediary personnel, educating financial intermediary personnel about Franklin Templeton mutual funds, access to sales meetings, sales representatives, wholesalers, and management representatives of the financial intermediary, and detailed sales reporting. A financial intermediary may perform the services itself or may arrange with a third party to perform the services. In the case of any one financial intermediary, such payments will not exceed 0.10% of the total assets of Franklin Templeton mutual funds held, directly or indirectly, by such Employer Sponsored Retirement Plans, on an annual basis. Distributors will, on an annual basis, determine whether to continue such payments.

Consistent with the provisions and limitations set forth in its Rule 12b-1 distribution plans, the Fund may reimburse Distributors for the cost of a portion of these marketing support payments.

3

 

 
 

Marketing support payments may be in addition to any servicing and other fees paid by Investor Services, as described further below and under “Management and Other Services - Shareholder servicing and transfer agent” above.

The following list includes FINRA member firms (or, in some instances, their respective affiliates) that, as of March 31, 2020, Distributors anticipates will receive marketing support payments.  In addition to member firms of FINRA, Distributors also makes marketing support payments, and Distributors’ non-fund affiliates may make administrative services payments, to certain other financial intermediaries, such as banks, insurance companies, and plan administrators, that sell mutual fund shares or provide services to Franklin Templeton mutual funds and shareholders. These firms may not be included in this list. You should ask your financial intermediary if it receives such payments.

ADP Retirement Services, American Portfolios Financial Services, Inc., American Enterprise Investment Services, Inc., American United Life Insurance Company, Ascensus, Inc., AXA Advisors, LLC, BBVA Securities, Inc., Benjamin F. Edwards & Company, Inc., Cadaret Grant & Co., Inc., Cambridge Investment Research, Inc., Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Financial Specialists LLC, Cetera Investment Services LLC, Citigroup Global Markets Inc., Charles Schwab & Co., Inc., Citizens Securities, Inc., Commonwealth Financial Network, CUNA Brokerage Services, Inc., CUSO Financial Services, L.P., Digital Retirement Solutions, Edward D. Jones & Co., L.P. (dba Edward Jones), Empower Retirement, ePlan Services, Inc., Fidelity Investments Institutional Operations Company, Inc., First Allied Securities, Inc., First Command Financial Planning, Inc., FPS Services LLC, FSC Securities Corporation, Goldman, Sachs & Co., Group 3 Financial LLC, Investacorp, Inc., J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, John Hancock Distributors LLC, KMS Financial Services, Inc., Lincoln Financial Advisors Corporation, Lincoln Financial Securities Corporation, Lincoln Investment Planning, Inc., Lincoln Retirement Services Company LLC, LPL Financial LLC, M&T Securities, Inc., Massachusetts Mutual Life Insurance Company, Merrill Lynch, Pierce, Fenner & Smith, Inc., Minnesota Life Insurance Company, MML Investors Services, LLC, Morgan Stanley, MSCS Financial Services LLC, Nationwide Financial Services, Inc., Newport Retirement Services, Inc., NEXT Financial Group, Inc., Northwestern Mutual Investment Services, LLC, Paychex Securities Corporation, PFS Investments Inc., PNC Investments LLC, Principal Financial Group, Prudential Insurance Company of America, Raymond James & Associates, Inc., Raymond James Financial Services, Inc., RBC Capital Markets LLC, Robert W. Baird & Co., Inc., Royal Alliance Associates, Inc., SagePoint Financial, Inc., Securities America, Inc., Securities Service Network, Inc., Sorrento Pacific Financial, LLC, Stifel, Nicolaus & Company, Incorporated, TD Ameritrade Trust Company, TFS Securities, Inc., The Huntington Investment Company, The Investment Center, Inc., TIAA-CREF Individual & Institutional Services, LLC, Transamerica Advisors Life Insurance Company, Transamerica Retirement Solutions Corporation, Triad Advisors, Inc., UBS Financial Services Inc., UnionBanc Investment Services, LLC, U.S. Bancorp Investments, Inc., Voya Financial Advisors, Inc., Voya Institutional Plan Services LLP, Wells Fargo Advisors, LLC and Woodbury Financial Services, Inc.

Marketing support payments made to organizations located outside the U.S., with respect to investments in the Fund by non-U.S. persons, may exceed the above-stated limitation.

In addition to marketing support payments, to the extent permitted by SEC and FINRA rules and other applicable laws and regulations, Distributors may from time to time at its expense make or allow other promotional incentives or additional payments to financial intermediaries that sell or arrange for the sale of shares of the Fund. These payments may include additional compensation to financial intermediaries, including financial intermediaries not listed above, related to transaction support, various financial intermediary-sponsored events intended to educate financial advisers and their clients about the Franklin Templeton mutual funds, and data analytics and support.

Please keep this supplement with your SAI for future reference.

4

 

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