Presentation Studio. Workbook Samples for Multiple Investments

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1 Presentation Studio Workbook Samples for Multiple Investments

2 Sample Presentation Studio Workbook Micro Small Mid Large Giant Holdings-Based Style Deep-Val Core-Val Core Core-GrthHigh-Grth Rolling s (Descending Rank) Time Period: 10/1/2007 to 9/30/2012 Rolling Window: 3 Years 1 Month shift 6/30/2012 6/30/2012 6/30/2012 6/30/2012 Manager E 6/30/2012 % Mkt Value 3.00 and up up to 0.99 Centroid Relative Cumulative Performance vs S&P 500 TR Time Period: 10/1/2007 to 9/30/2012 3% 25.0% 2% 15.0% 1% 5.0% % -5.0% -1% -15.0% 3/2008 9/2008 3/2009 9/2009 3/2010 9/2010 3/2011 9/2011 3/2012 9/2012 Manager E S&P 500 TR Performance Relative to Peer Group Peer Group (5-95%): Open End Funds - U.S. - Large Growth Top Quartile 2nd Quartile 3rd Quartile Bottom Quartile 1st to 25th Percentile 26th to Median 51st to 75th Percentile 76th to 100th Percentile YTD 1 year 3 years 5 years 10 years 15 years Manager E S&P 500 TR Manager E Performance Time Period: 10/1/2007 to 9/30/2012 Risk Time Period: 10/1/2007 to 9/30/2012 Std Dev Excess Information Ratio (arith) R2 Tracking Error Std Dev Downside Deviation Alpha Beta R2 Sharpe Ratio (arith) Tracking Error Manager E Manager E S&P 500 TR S&P 500 TR

3 Sample Presentation Studio Workbook Morningstar Analyst Report Analysis by XXXXXXX 5/16/2012 XXX able skipper is back to uncharted waters. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx iography XXXX XXXXXXX since 9/17/1990 xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Investment Strategy xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Custom Text xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Monthly Estimated Fund-Level Net Flow Time Period: 10/1/2011 to 9/30/ Equity Sectors (GICS) Time Period: 10/1/2007 to 8/31/2012 Estimated Fund-Level Net Flow - Aggr from Share Class (Monthly) 400,000,00 200,000,00-200,000,00-400,000,00-600,000,00 12/2011 3/2012 6/2012 9/ /2008 2/2009 8/2009 2/2010 8/2010 2/2011 8/2011 2/2012 8/2012 Energy % Materials % Industrials % Consumer Discretionary % Consumer Staples % Healthcare % Financials % Information Technology % Telecom Services % Utilities %

4 Sample Presentation Studio Workbook Relative Weights Time Period: 7/1/2012 to 9/30/2012 Portfolio: Benchmark: S&P 500 TR Attribution/Contribution Time Period: 7/1/2012 to 9/30/2012 Portfolio: Benchmark: S&P 500 TR Consumer Discretionary Portfolio Weights Benchmark Weights Portfolio Rescaled Weights Benchmark Rescaled Weights Portfolio Benchmark Portfolio Contribution Benchmark Contribution Allocation Effect Selection Effect Active Information Technology Materials Consumer Staples Health Care Financials Telecommunication Services Utilities Industrials Energy Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities Attribution Total Cash Bond Other Missing Performance Total Allocation Effects Time Period: 7/1/2012 to 9/30/2012 Portfolio: Relative Weight Underperform Benchmark: S&P 500 TR 2 Outperform Relative Best Weighting Weight +/- +/- Effect 1 Utilities Industrials Consumer Cyclical Real Estate Technology Worst Weighting Weight +/- +/- Effect 1 Energy Communication Services Healthcare Overweight Underweight Attribution Summary - Scatter Plot Time Period: 3/1/2012 to 9/30/2012 Benchmark: S&P 500 TR Selection Effect Allocation Effect Manager E

5 US Dollar S&P 500 TR Manager Performance Time Period: 6/1/2007 to 5/31/ /2007 5/ /2008 5/ /2009 5/ /2010 5/ /2011 5/2012 Calendar Year s Manager vs Universe Peer Group (5 95%): Open End Funds U.S. Large Growth year 2 years 3 years 4 years 5 years Manager E S&P 500 TR US OE Large Growth Holdings Based Style Manager E S&P 500 TR US OE Large Growth Risk Reward Manager E S&P 500 TR US OE Large Growth Upside vs. Downside 12/31/ /31/ /31/2011 Time Period: 6/1/2007 to 5/31/ Time Period: 6/1/2007 to 5/31/ Micro Small Mid Large Giant Deep Val Core Val Core Core Grth High Grth 12/31/2011 Manager E 12/31/2011 S&P 500 TR 12/31/2011 US OE Large Growth 12/31/2011 % Mkt Value 3.00 and up up to 0.99 Centroid Std Dev Manager E S&P 500 TR US OE Large Growth Up Capture Ra o Down Capture Ra o Fidelity Contrafund Alger Large Cap Growth I 2 Alger Capital Apprecia on P l I 2 Calamos Growth A S&P 500 TR US OE Large Growth

6 US Dollar S&P 500 TR Fund Objec ve The investment seeks reasonable long term capital apprecia on with a prudent approach to protec on of capital from undue risks. The fund normally invests in a managed mix of equity and debt securi es with 75% of assets invested in equity securi es and 25% of its assets in debt or fixed income securi es under normal circumstances. The fixed income securi es the fund invests in will generally have a maturity of 30 days to more than 30 years and may be of any credit quality. Up to 25% of the fund's total assets may be invested in securi es issued by companies within a single industry. It may invest in securi es of U.S. and foreign issuers. and Rank for Fund and Category Quarterly Por olio Profile Manager E S&P 500 TR US OE Large Growth Median Average Count 3 Month 6 Month 1 year 3 years 5 years , , , , ,316 Since Incep on Incep on Date 11/6/1929 5/17/1967 1/9/1989 1/25/1995 9/4/1990 1/30/ /1/1925 Time Period: 7/1/2008 to 3/31/2012 Manager E st Quarter th Quarter rd Quarter nd Quarter st Quarter th Quarter rd Quarter nd Quarter S&P 500 TR US OE Large Growth Por olio Date: 3/31/2012 % Cash 11.7 US Equity 67.9 Non US Equity 5.2 US Bond 15.2 Non US Bond Other Total 10 Calendar Year s st Quarter Manager E S&P 500 TR US OE Large Growth th Quarter rd Quarter nd Quarter st Quarter th Quarter rd Quarter Por olio Data Top Ten Holdings (%) Fees & Expenses Base Currency Morningstar Ins tu onal Category Morningstar Category Morningstar Ra ng Overall Alpha 3 Yr (Mo End) Beta 3 Yr (Mo End) Std Dev 3 Yr (Mo End) R Squared 3 Yr (Mo End) Sharpe Ra o 3 Yr (Mo End) Asset Alloc Cash % Energy % Informa on Technology % US Dollar Large Valua on Sensi ve Growth US OE Large Growth ÙÙÙ US Treasury Note 0.375% Altria Grp 9.95% US Treasury Note 0.75% Ci group Inc Morgan Stanley Whirlpool Corpora on Delta Air Lines Inc Tata Motors, Ltd. ADR Na onal Oilwell Varco, Inc. Nike, Inc. Class B Por olio Weigh ng % Annual Report Net Expense Ra o Annual Report Gross Expense Ra o Prospectus Net Expense Ra o Prospectus Gross Expense Ra o 12b 1 Fee

7 Small Cap Growth Comparison Investment Growth Time Period: 6/1/2007 to 5/31/ /2007 5/ /2008 5/ /2009 5/ /2010 5/ /2011 5/2012 Russell 2000 TR USD Performance Time Period: 6/1/2007 to 5/31/2012 Std Dev Excess Information Ratio (arith) R2 Tracking Error Russell 2000 TR USD As of 5/31/2012 Page 1 of 15

8 Small Cap Growth Comparison Risk-Reward Time Period: 6/1/2007 to 5/31/ Russell 2000 TR USD Std Dev Risk Time Period: 6/1/2007 to 5/31/2012 Std Dev Downside Deviation Alpha Beta R2 Sharpe Ratio (arith) Tracking Error Russell 2000 TR USD As of 5/31/2012 Page 2 of 15

9 Small Cap Growth Comparison Rolling s Time Period: 6/1/2007 to 5/31/2012 Rolling Window: 3 Years 1 Month shift Russell 2000 TR USD Rolling s Time Period: 6/1/2007 to 5/31/2012 Rolling Window: 3 Years 1 Month shift 4 3 Rolling s Time Period: 6/1/2007 to 5/31/2012 Rolling Window: 3 Years 1 Month shift Russell 2000 TR USD Russell 2000 TR USD As of 5/31/2012 Page 3 of 15

10 Small Cap Growth Comparison Risk-Reward Time Period: 6/1/2007 to 5/31/ Russell 2000 TR USD Std Dev Market Performance Time Period: 6/1/2007 to 5/31/2012 Up Period Percent Down Period Percent Best Month Worst Month Best Quarter Worst Quarter Up Capture Ratio Down Capture Ratio R Russell 2000 TR USD As of 5/31/2012 Page 4 of 15

11 Small Cap Growth Comparison s YTD 1 year 3 years 5 years 10 years 15 years Russell 2000 TR USD Trailing s Data Point: Russell 2000 TR USD YTD 1 year 3 years 5 years 10 years 15 years As of 5/31/2012 Page 5 of 15

12 Small Cap Growth Comparison s YTD Russell 2000 TR USD Calendar Year s Data Point: Russell 2000 TR USD YTD As of 5/31/2012 Page 6 of 15

13 Small Cap Growth Comparison Holdings-Based Style s-based Style 12/31/2011 Time Period: 6/1/2007 to 5/31/2012 Micro Small Mid Large Giant Deep-Val Core-Val Core Core-GrthHigh-Grth 4/30/2012 3/31/2012 Russell 2000 TR USD 4/30/2012 Morningstar Large Value TR USD Morningstar Small Value TR USD Morningstar Large Growth TR USD Morningstar Small Growth TR USD Russell 2000 TR USD Holdings-Based Style Trail Rolling s-based Style Time Period: 6/30/2007 to 4/30/2012 Time Period: 6/1/2007 to 5/31/2012 Micro Small Mid Large Giant Deep-Val Core-Val Core Core-GrthHigh-Grth Start Date End Date 6/30/ /31/2011 6/30/2007 4/30/2012 6/30/2007 3/31/2012 Russell 2000 TR USD 6/30/2007 4/30/2012 Morningstar Large Value TR USD Morningstar Small Value TR USD Morningstar Large Growth TR USD Morningstar Small Growth TR USD Russell 2000 TR USD As of 5/31/2012 Page 7 of 15

14 Small Cap Growth Comparison Holdings-Based Style 12/31/2011 Micro Small Mid Large Giant Deep-Val Core-Val Core Core-Grth High-Grth 4/30/2012 3/31/2012 Russell 2000 TR USD 4/30/2012 GICS Sectors Portfolio Date: 3/31/2012 Russell 2000 TR USD Energy % Materials % Industrials % Consumer Discretionary % Consumer Staples % Healthcare % Financials % Information Technology % Telecom Services % Utilities % As of 5/31/2012 Page 8 of 15

15 Small Cap Growth Comparison Correlation Matrix Time Period: 6/1/2007 to 5/31/ Russell 2000 TR USD Correlation Matrix Time Period: 6/1/2007 to 5/31/ Russell 2000 TR USD As of 5/31/2012 Page 9 of 15

16 Small Cap Growth Comparison Std Dev Std Dev year 3 years 5 years 10 years Russell 2000 TR USD Alpha Alpha year 3 years 5 years 10 years Russell 2000 TR USD Beta Beta year 3 years 5 years 10 years Russell 2000 TR USD As of 5/31/2012 Page 10 of 15

17 Small Cap Growth Comparison Risk-Reward Time Period: 6/1/2007 to 5/31/ Russell 2000 TR USD Std Dev Drawdown Time Period: 6/1/2007 to 5/31/2012 Max Drawdown Max Drawdown # of Periods Max Drawdown Peak Date Max Drawdown Valley Date Omega /1/2007 2/28/ /1/2007 2/28/ /1/2007 2/28/ Russell 2000 TR USD /1/2007 2/28/ As of 5/31/2012 Page 11 of 15

18 Small Cap Growth Comparison Allocation Effect Time Period: 3/1/2012 to 5/31/2012 Benchmark: Russell 2000 TR USD Allocation Effect Time Period: 3/1/2012 to 5/31/2012 Benchmark: Russell 2000 TR USD Allocation Effect Time Period: 3/1/2012 to 5/31/2012 Benchmark: Russell 2000 TR USD Attribution Summary - Scatter Plot Time Period: 3/1/2012 to 5/31/2012 Benchmark: Russell 2000 TR USD Attribution Summary Time Period: 3/1/2012 to 5/31/2012 Benchmark: Russell 2000 TR USD Allocation Effect Selection Effect Active Selection Effect Allocation Effect As of 5/31/2012 Page 12 of 15

19 Small Cap Growth Comparison Attribution Detail Time Period: 3/1/2012 to 5/31/2012 Benchmark: Russell 2000 TR USD Allocation Effect Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Morningstar Sector Attribution Detail Time Period: 3/1/2012 to 5/31/2012 Benchmark: Russell 2000 TR USD Technology Utilities Allocation Effect Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Morningstar Sector Technology Utilities As of 5/31/2012 Page 13 of 15

20 Small Cap Growth Comparison Performance Relative to Peer Group Peer Group (5-95%): Open End Funds - U.S. - Small Growth Top Quartile 2nd Quartile 3rd Quartile Bottom Quartile YTD 1 year 3 years 5 years 10 years 15 years Russell 2000 TR USD Trailing s Data Point: Russell 2000 TR USD Median Average Count 5th Percentile 25th Percentile 50th Percentile 75th Percentile 95th Percentile YTD 1 year 3 years 5 years 10 years 15 years As of 5/31/2012 Page 14 of 15

21 Small Cap Growth Comparison Monthly Estimated Net Flow Time Period: 6/1/2007 to 5/31/ ,000,00 Estimated Share Class Net Flow (Monthly) 5,000,00-5,000,00-10,000,00 11/2007 5/ /2008 5/ /2009 5/ /2010 5/ /2011 5/2012 Rolling s Time Period: 6/1/2007 to 5/31/2012 Peer Group (5-95%): Open End Funds - U.S. - Small Growth Rolling Window: 3 Years 1 Month shift Top Quartile 2nd Quartile 3rd Quartile Bottom Quartile Up Capture Ratio Russell 2000 TR USD As of 5/31/2012 Page 15 of 15

22 China Equity Cumulative Since Launch Time Period: 8/1/2007 to 5/31/ % 10% 8% 6% 4% 2% % -2% -4% -6% -8% 11/2007 5/ /2008 5/ /2009 5/ /2010 5/ /2011 5/2012 China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Rolling s vs. Peer Group Performance in Up Months Performance in Down Months Peer Group (1-100%): None Rolling Window: 3 Years 1 Month shift Top Quartile 2nd Quartile 3rd Quartile Bottom Quartile Up Capture Since Launch Down Capture Since Launch China Equity China China Focus China MSCI China Morningstar China Equity AVG China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Page 1 of 8 As of 5/31/2012

23 China Equity Team Review Snapshot Current Status Lead Analyst XYZ Classification XYZ Classification Benchmark Approved Fund Bob Smith Equity - China Equity MSCI China Manager Meeting Note Effective Date: 30/10/2011 xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Executive Summary xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Page 2 of 8 As of 5/31/2012

24 China Equity Performance Relative to Peer Group Quartiles Peer Group (1-100%): None Last Quarter YTD 1 year 2 years 3 years 5 years Since Launch China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Calendar Year s (%) YTD China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Time Period: 8/1/2007 to 5/31/2012 China Equity Hong Kong China China Focus China MSCI China Std Dev Sharpe Ratio Downside Deviation Sortino Ratio Excess Alpha Max Drawdown Tracking Error Information Ratio Morningstar China Equity AVG Page 3 of 8 As of 5/31/

25 China Equity Risk-Reward 1 Year Risk-Reward 3 Years Risk-Reward Since Launch Time Period: 6/1/2011 to 5/31/ Std Dev China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Time Period: 6/1/2009 to 5/31/ Std Dev China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Time Period: 8/1/2007 to 5/31/ Std Dev China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Up-Down Capture Ratio 1 Year Time Period: 6/1/2011 to 5/31/ Up-Down Capture Ratio 3 Years Time Period: 6/1/2009 to 5/31/ Up-Down Capture Ratio Since Launch Time Period: 8/1/2007 to 5/31/ Up Capture Ratio Down Capture Ratio China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Up Capture Ratio Down Capture Ratio China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Up Capture Ratio Down Capture Ratio China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Excess vs Tracking Error 1 Year Time Period: 6/1/2011 to 5/31/ Excess vs Tracking Error 3 Years Time Period: 6/1/2009 to 5/31/ Excess vs Tracking Error S.L. Time Period: 8/1/2007 to 5/31/ Excess Tracking Error China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Excess Tracking Error China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Excess Tracking Error China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Page 4 of 8 As of 5/31/2012

26 China Equity Sharpe Ratio Max Drawdown (%) Sharpe Ratio year 3 years Since Launch Max Drawdown year 3 years Since Launch China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Up Months (%) Down Months (%) Up Period Percent year 3 years Since Launch Down Period Percent year 3 years Since Launch China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Page 5 of 8 As of 5/31/2012

27 China Equity Excess Alpha Excess year 3 years Since Launch Alpha (non-excess return) year 3 years Since Launch Tracking Error China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Tracking Error 1 year 3 years Since Launch Information Ratio (arith) China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG Information Ratio 1 year 3 years Since Launch China Equity Hong Kong China China Focus China MSCI China Morningstar China Equity AVG China Equity Hong Kong China China Focus China MSCI World NR USD Morningstar China Equity AVG Page 6 of 8 As of 5/31/2012

28 China Equity Time Period: 8/1/2007 to 5/31/ Equity Style Time Period: 8/1/2007 to 5/31/ Equity Sectors Time Period: 8/1/2007 to 5/31/ Equity Regions / /2008 5/ /2009 5/ /2010 5/ /2011 5/ / /2008 5/ /2009 5/ /2010 5/ /2011 5/ / /2008 5/ /2009 5/ /2010 5/ /2011 5/2012 Large Value % Large Core % Large Growth % Mid Value % Mid Core % Mid Growth % Small Value % Small Core % Small Growth % Energy % Materials % Industrials % Consumer Discretionary % Consumer Staples % Healthcare % Financials % Information Technology % Telecom Services % Utilities % North America % Latin America % United Kingdom % Europe Dev % Europe Emrg % Africa/Middle East % Australasia % Japan % Asia Dev % Asia Emrg % Portfolio Turnover (%) Number of Holdings Fund Size ($m) Manager Tenure of Fund Relative to Peer Group Peer Group (1-100%): None Peer Group (1-100%): None Peer Group (1-100%): None Peer Group (1-100%): None Peer Group: None ,75M 3,50M 3,25M 3,00M 2,75M ,50M ,25M 2,00M 1,75M 1,50M ,25M ,00M 75M 50M 25M Turnover Ratio % 25.0 # of Holdings (Long) M Fund Size Manager Tenure (Longest) 10 Expense Ratio Page 7 of 8 As of 5/31/2012

29 China Equity % Up Months: Number of months in which return was above zero, divided by the total number of months. % Down Months: Number of months in which return was below zero, divided by the total number of months. Perf in Up Months: Annualized return of the fund in months when the return of the benchmark was positive. Perf in Down Months: Annualized return of the fund in months when the return of the benchmark was negative. Up Capture Ratio: Measures manager's performance in up markets. An up market is defined as those months in which the benchark's return is greater than zero. In essence, it tells you what percentage of the up market was captured by the manager. For example, if the ratio is 110%, the manager has captured 110% of the up market and therefore overperformed the market on the upside. Down Capture Ratio: Measures manager's performance in down markets. A down market is defined as those months in which the benchark's return is less than zero. In essence, it tells you what percentage of the down market was captured by the manager. For example, if the ratio is 110%, the manager has captured 110% of the down market and therefore underperformed the market on the downside. Excess : in excess of the benchmark. Std Dev: A statistical measurement of dispersion about an average, which, for a mutual fund, depicts how widely the returns varied over a certain period of time. Investors use the standard deviation of historical performance to try to predict the range of returns that are most likely for a given fund. When a fund has a high standard deviation, the predicted range of performance is wide, implying greater volatility. If a fund's returns follow a normal distribution, then approximately 68 percent of the time they will fall within one standard deviation of the average return for the fund, and 95 percent of the time within two standard deviations. Morningstar computes standard deviation using the trailing monthly total returns for the appropriate time period. All standard deviations greater than one year are annualized. Sharpe Ratio: The fund's annualized return in excess of the cash rate, divided by the standard deviation of those excess returns. Downside Deviation: Annualized deviation below the benchmark. Sortino Ratio: The fund's annualized return in excess of the cash rate, divided by the downside deviation. Since upside variability is not necessarily a bad thing, Sortino ratio is sometimes a more preferable measure than Sharpe ratio. Max Drawdown: The maximum peak-to-trough decline during the given time period. Information Ratio: Information ratio is the same calculation as Sharpe ratio, only the return is in excess of the given benchmark, rather than the cash rate. Tracking Error: The standard deviation of the returns in excess of the benchmark. If low, the fund tracks the benchmark closely. If high, there is greater deviation from the benchmark. Alpha: A measure of the difference between a portfolio s actual returns and its expected performance, given its level of risk as measured by beta. A positive Alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative Alpha indicates the portfolio has underperformed, given the expectations established by beta. Alpha is calculated by taking the average monthly return of the investment and subtracting beta times the average monthly return of the benchmark. Note Regarding Quartiles: Quartile bars (e.g. in the Rolling s vs. Peer Group chart on page 1) each contain the same number of funds. The size of the bar represents the range of returns for teh funds in that quartile. Note on Up-Down Capture Ratio charts: For Up-Down Capture Ratio, the upper-left quadrant is best. This quadrant signifies that the investment outperformed the benchmark on the upside and the downside. Page 8 of 8 As of 5/31/2012

30 As of 5/31/2012 Fund Comparison Report Produced by: XYZ, Inc. Produced for: ABC Investments

31 Performance Cumulative Performance Time Period: 6/1/2007 to 5/31/ /2007 5/ /2008 5/ /2009 5/ /2010 5/ /2011 5/ month Rolling Performance Time Period: 6/1/2007 to 5/31/2012 Rolling Window: 1 Year 1 Month shift Manager E Manager F Manager G Manager H Credit Suisse HY USD Manager E Manager F Manager G Manager H Credit Suisse HY USD Annual Performance YTD Manager E Manager F Manager G Manager H Credit Suisse HY USD YTD Annualized s Manager E Manager F Manager G Manager H Credit Suisse HY USD month 3 months YTD 1 year 3 years 5 years 10 years Manager E Manager F Manager G Manager H Credit Suisse HY USD YTD 1 year 3 years 5 years 10 years 1 month 3 months Manager E Manager F Manager G Manager H Credit Suisse HY USD

32 Performance 3-Year Capture Ratio Time Period: 6/1/2009 to 5/31/2012 Up Capture Ratio Down Capture Ratio Manager E Manager F Manager G Manager H Credit Suisse HY USD 5-Year Capture Ratio Time Period: 6/1/2007 to 5/31/2012 Up Capture Ratio Down Capture Ratio Manager E Manager F Manager G Manager H Credit Suisse HY USD Up Capture Ratio Down Capture Ratio Up Capture Ratio Down Capture Ratio Manager E Manager E Manager F Manager F Manager G Manager G Manager H Manager H Credit Suisse HY USD Credit Suisse HY USD Drawdown Time Period: 6/1/2007 to 5/31/2012 Manager E Manager F Manager G Manager H Credit Suisse HY USD Best Quarter Worst Quarter Max Drawdown

33 Risk Standard Deviation Std Dev year 3 years 5 years 10 years Manager E Manager F Manager G Manager H Credit Suisse HY USD Annualized Standard Deviation Semi-Standard Deviation Semi Dev year 3 years 5 years 10 years Manager E Manager F Manager G Manager H Credit Suisse HY USD Annualized Semi-Standard Deviation 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years Manager E Manager E Manager F Manager F Manager G Manager G Manager H Manager H Credit Suisse HY USD Credit Suisse HY USD Year Rolling Standard Deviation Year Rolling Semi-Standard Deviation Std Dev Semi Dev Manager E Manager F Manager G Manager H Credit Suisse HY USD Manager E Manager F Manager G Manager H Credit Suisse HY USD

34 Risk/ Risk- Scatterplot - 3 Year 3 Year Std Dev Std Dev Manager E Manager F Manager G Manager H Credit Suisse HY USD Manager E Manager F Manager G Manager H Credit Suisse HY USD Risk- Scatterplot - 5 Year 5 Year Std Dev Std Dev Manager E Manager F Manager G Manager H Credit Suisse HY USD Manager E Manager F Manager G Manager H Credit Suisse HY USD Risk- Scatterplot - 10 Year 10 Year Std Dev Std Dev Manager E Manager F Manager G Manager H Credit Suisse HY USD Manager E Manager F Manager G Manager H Credit Suisse HY USD

35 Risk/ Sharpe Ratio Sharpe Ratio years 5 years 10 years Manager E Manager F Manager G Manager H Credit Suisse HY USD Information Ratio Information Ratio (arith) years 5 years 10 years Manager E Manager F Manager G Manager H Credit Suisse HY USD 3 years 5 years 10 years 3 years 5 years 10 years Manager E Manager E Manager F Manager F Manager G Manager G Manager H Manager H Credit Suisse HY USD Credit Suisse HY USD 1 Year Rolling Sharpe Ratio Sharpe Ratio Year Rolling Information Ratio Information Ratio (arith) Manager E Manager F Manager G Manager H Credit Suisse HY USD Manager E Manager F Manager G Manager H MSCI World NR USD

36 MPT Statistics Alpha Alpha year 3 years 5 years 10 years Beta Beta year 3 years 5 years 10 years Manager E Manager F Manager G Manager H Credit Suisse HY USD Data Point: Alpha Manager E Manager F Manager G Manager H Credit Suisse HY USD Data Point: Beta Data Point: R2 1 year 3 years 5 years 10 years year 3 years 5 years 10 years year 3 years 5 years 10 years Manager E Manager F Manager E Manager F Manager E Manager F Manager G Manager H Manager G Manager G Manager H Manager H Year Rolling Alpha Year Rolling Beta Alpha Beta Manager E Manager F Manager G Manager H Credit Suisse HY USD Manager E Manager F Manager G Manager H Credit Suisse HY USD

37 Correlation 3 Year Correlation Correlation years Manager E Manager F Manager G Manager H Credit Suisse HY USD 5 Year Correlation Correlation years Manager E Manager F Manager G Manager H Credit Suisse HY USD 10 Year Correlation Correlation years Manager E Manager F Manager G Manager H Credit Suisse HY USD 3 Year Correlation Manager E 6 Manager F 7 Manager G 8 Manager H 9 Credit Suisse HY USD 5 Year Correlation Manager E 6 Manager F 7 Manager G 8 Manager H 9 Credit Suisse HY USD 10 Year Correlation Manager E 6 Manager F 7 Manager G 8 Manager H 9 Credit Suisse HY USD

38 Glossary Alpha: The intercept value derived from the CAPM regression, or the difference between a Manager's performance and the Manager's expected performance given its market sensitivity or Beta. Alpha is used as a measure of value added by a Manager. Beta: A Manager's sensitivity to market movements and is used to evaluate market related, or systematic risk. Beta is a measure of the linear relationship, over time, of the Manager's returns and those of the Benchmark. Beta is computed by regressing the Manager's excess returns over the risk free rate (cash proxy) against the excess returns of the Benchmark over the risk free rate. Capture Ratio: Calculates the portion of market (Benchmark) performance that was captured by the Manager under certain conditions. The capture ratio is equal to the ratio of the average annual return of the manager for a given period to the average benchmark return over the same period. Correlation: A standardized measure of Covariance. Correlation is scaled to a range between -1 (series move in opposite directions) to +1 (series move in the same direction) and is calculated by dividing the Covariance between the series by the respective standard deviations of each. Information Ratio: A risk/return, or efficiency measure; it is a way to estimate the value added by an investment manager per corresponding unit of risk. It is the ratio of Annualized over Annualized Standard Deviation. Maximum Drawdown Period: The worst period of "peak to valley" performance for the series, regardless of whether or not the drawdown consisted of consecutive months of negative performance, or where the Max Period falls within the range of data. R-Squared: Measure of the MPT regression measures the percentage variability in the Manager's returns that can be explained by the Benchmark's returns. Semi-Standard Deviation: A measure of risk using only the variance of returns below a target rate. Stylus calculates Semi-Standard deviation below a target of zero by default, but can accommodate other targets such as MAR, the Risk Free rate, or the Benchmark. Sharpe Ratio: A risk/return measure which indicates the Manager's excess return per unit of total risk as measured by Standard Deviation. It is the ratio of the Manager's returns in excess of the risk free rate to the Standard Deviation of the manager's returns in excess of the risk free rate. Standard Deviation: A measure of the extent to which observations in a series vary from the arithmetic mean of the series. The Standard Deviation of a Manager, Benchmark or Index series measures the volatility, or risk of the asset. The more volatile the investment returns, the higher the standard deviation will be.

39 Disclosure Funds shown are sub-funds of Franklin Templeton Investment Funds (FTIF). "FTIF" is an investment company with variable capital incorporated in Luxembourg. Sales of shares of FTIF will be made on the basis of its current prospectus only, accompanied by a copy of the latest available audited annual report and, if subsequently published, the latest unaudited semi-annual report. This material does not and will not constitute an offer of shares of FTIF. An investment in FTIF entails risks, which are described in its prospectus. Investors may not get back the full amount invested and the net asset value of FTIF will fluctuate with market conditions. Exchange rate fluctuations, fund charges, taxes and any asset-based fee charged by third parties to clients who invest in FTIF through a fee-based account will affect the return to the investor. Past performance is no guarantee of future performance. Please ensure your client reads the Prospectus before deciding to invest. Any research and analysis contained in this guide has been procured by Franklin Templeton Investments for its own purposes and is provided only incidentally. This research does not constitute or form part of legal, tax or investment advice or an offer for shares or an invitation to apply for shares of FTIF. Shares of FTIF are not available in all jurisdictions. FTIF shares may not be directly or indirectly offered or sold to U.S. Persons and may not be offered or sold in any jurisdiction where such offering or sale is prohibited. FTIF has been authorized for public sale in certain jurisdictions and private placement exemptions may be available in others. Please contact Franklin Templeton if you are unsure of the availability of FTIF in your client's jurisdiction. For the definition of U.S. Person, see the current FTIF prospectus. Performance figures are not based on audited financial statements and assume reinvestment of interest and dividends. When comparing the performance of FTIF with a benchmark index, it is important to note that the securities in which FTIF invests may be substantially different than those represented by the benchmark index. Furthermore, an investment in FTIF represents an investment in a managed investment company in which certain charges and expenses, including management fees, are applicable. These charges and expenses are not applicable to indices. Indices are unmanaged and are not available for direct investment. Certain data and other information shown have been supplied by outside sources. While we consider that information to be reliable, we give no assurance that such data and information is accurate or complete. A copy of the FTIF prospectus and/or the latest financial reports can be obtained from Franklin Templeton International Services S.A. Professional of the Financial Sector under the supervision of the Commission de Surveillance du Secteur Financier - 26 boulevard Royal L-2449 Luxembourg Tel: (+352) Fax: (+352) In the U.S., this publication is made available to you for informational purposes only by Templeton/Franklin Investment Services, Inc. 100 Fountain Parkway, St. Petersburg, Florida Tel: (800) (USA Toll-Free), (877) (Canada Toll-Free), and Fax: (727) Investments are not FDIC insured; may lose value; and are not bank guaranteed. Distribution outside the U.S. may be made by Templeton Global Advisors Limited or other sub-distributors, intermediaries, dealers or professional investors that have been engaged by Templeton Global Advisors Limited to distribute shares of the Fund in certain jurisdictions. This is not an offer to sell or a solicitation of an offer to purchase securities in any jurisdiction where it would be illegal to do so. FOR BROKER DEALER USE ONLY NOT FOR PUBLIC DISTRIBUTION.