Closed-End Funds Performance Update
|
|
- Jordan Beasley
- 6 years ago
- Views:
Transcription
1 Closed-End Funds Performance Update July 31, 2017 Symbol Cumulative TOTAL RETURNS% 1 (as of 6/30/17) Average Annual YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Inception Inception Date Franklin Limited Duration Income Trust 2,3 FTF Market Price /27/2003 NAV Blended Benchmark Index /27/2003 Annual Expense Ratio (%) With Waiver ,10 Without Waiver 1.35 Franklin Universal Trust 5,11 FT Market Price /23/1988 NAV Credit Suisse High Yield Index N/A S&P 500 Utilities Index N/A Annual Expense Ratio (%) With Waiver Without Waiver 2.13 Templeton Dragon Fund, Inc. 8 TDF Market Price /20/1994 NAV MSCI Golden Dragon Index N/A Annual Expense Ratio (%) Templeton Emerging Markets Fund 11 EMF Market Price /26/1987 NAV MSCI Emerging Markets Index N/A Annual Expense Ratio (%) With Waiver 1.38 Without Waiver 1.39 Templeton Emerging Markets Income Fund 12 TEI Market Price /23/1993 NAV JP Morgan Emerging Market Bond Global Index N/A Annual Expense Ratio (%) With Waiver 1.04 Without Waiver 1.09 Templeton Global Income Fund 12 GIM Market Price /17/1988 NAV JP Morgan Global Government Bond Index /17/1988 Annual Expense Ratio (%) With Waiver Without Waiver 0.73 Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. The fund s investment return and principal value will change with market conditions, and an investor may have a gain or a loss when they sell their shares. Unlike open-end funds (mutual funds), closed-end funds are not continuously offered. Closed-end funds trade on the secondary market through a national stock exchange at a price which may be above (a premium), but is often below (a discount to) the net asset value (NAV) of the fund s portfolio. Unlike a mutual fund, the market price for a closed-end fund is based on supply and demand, not the fund s NAV. Franklin Templeton Distributors, Inc. One Franklin Parkway, San Mateo, CA tel: (800) DIAL BEN / franklintempleton.com Not FDIC Insured May Lose Value No Bank Guarantee
2 1. Total return calculations represent the cumulative and average annual changes in value of an investment over the periods indicated. The YTD returns have not been annualized. 2. Figures shown are for common shares. 3. As of 6/30/17, the fund had leverage in the amount of 33.86% of the fund s total portfolio. The fund employs leverage through the issuance of Auction Preferred Shares and purchase of mortgage dollar rolls. The use of financial leverage creates an opportunity for increased income, but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares). The cost of leverage rises and falls with changes in short-term interest rates. Such increases/decreases in the cost of the fund s leverage may be offset by increased/decreased income from the fund s floating rate instruments. 4. The blended benchmark index consists of 1/3 Bloomberg Barclays U.S. Mortgage-Backed Securities Index, 1/3 Credit Suisse Leveraged Loan Index and 1/3 Credit Suisse High Yield Index. Source for indexes: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 5. As of 6/30/17, the fund had leverage in the amount of 22.88% of the fund s total portfolio. The fund employs leverage through the issuance of senior fixed rate notes which creates an opportunity for increased income, but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares). The cost of leverage rises and falls with changes in short-term interest rates. Such increases/decreases in the cost of the fund s leverage may be offset by increased/decreased income from the fund s floating rate instruments. 6. Source for index: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 7. Source for indexes: FactSet. The index is unmanaged and includes reinvestment of any income or distributions. It does not reflect any fees, expenses or sales charges. One cannot invest directly in an index, and an index is not representative of the fund s portfolio. Index data is provided for comparison purposes only. The fund is not managed against an index. 8. The fund invests in certain China A shares through its investment in the Templeton China Opportunities Fund, Ltd. (China Fund). The China Fund is a Cayman Islands exempt company, is a wholly-owned subsidiary of the fund, and is able to invest directly in China A shares consistent with the investment objective of the fund. 9. Benefit of expense reduction rounds to less than 0.01%, based on the most recent audited financial statements. 10. Benefit of waiver and payments by affiliates rounds to less than 0.01%, based on the most recent audited financial statements. 11. The fund has an expense reduction contractually guaranteed through August 31, Fund investment results reflect the expense reduction; without this reduction, the results would have been lower. 12. The fund has an expense reduction contractually guaranteed through December 31, Fund investment results reflect the expense reduction; without this reduction, the results would have been lower. 13. Assumes reinvestment of distributions based on the dividend reinvestment and cash purchase plan. 14. Assumes reinvestment of distributions based on net asset value. Closed-End Funds Performance Update 2
3 Closed-End Funds Performance Update July 31, 2017 Symbol Cumulative TOTAL RETURNS% 1 (as of 7/31/17) Average Annual YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Inception Inception Date Franklin Limited Duration Income Trust 2,3 FTF Market Price /27/2003 NAV Blended Benchmark Index /27/2003 Annual Expense Ratio (%) With Waiver ,10 Without Waiver 1.35 Franklin Universal Trust 5,11 FT Market Price /23/1988 NAV Credit Suisse High Yield Index N/A S&P 500 Utilities Index N/A Annual Expense Ratio (%) With Waiver Without Waiver 2.13 Templeton Dragon Fund, Inc. 8 TDF Market Price /20/1994 NAV MSCI Golden Dragon Index N/A Annual Expense Ratio (%) Templeton Emerging Markets Fund 11 EMF Market Price /26/1987 NAV MSCI Emerging Markets Index N/A Annual Expense Ratio (%) With Waiver 1.38 Without Waiver 1.39 Templeton Emerging Markets Income Fund 12 TEI Market Price /23/1993 NAV JP Morgan Emerging Market Bond Global Index N/A Annual Expense Ratio (%) With Waiver 1.04 Without Waiver 1.09 Templeton Global Income Fund 12 GIM Market Price /17/1988 NAV JP Morgan Global Government Bond Index /17/1988 Annual Expense Ratio (%) With Waiver Without Waiver 0.73 Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. The fund s investment return and principal value will change with market conditions, and an investor may have a gain or a loss when they sell their shares. Unlike open-end funds (mutual funds), closed-end funds are not continuously offered. Closed-end funds trade on the secondary market through a national stock exchange at a price which may be above (a premium), but is often below (a discount to) the net asset value (NAV) of the fund s portfolio. Unlike a mutual fund, the market price for a closed-end fund is based on supply and demand, not the fund s NAV. Franklin Templeton Distributors, Inc. One Franklin Parkway, San Mateo, CA tel: (800) DIAL BEN / franklintempleton.com Not FDIC Insured May Lose Value No Bank Guarantee
4 1. Total return calculations represent the cumulative and average annual changes in value of an investment over the periods indicated. The YTD returns have not been annualized. 2. Figures shown are for common shares. 3. As of 7/31/17, the fund had leverage in the amount of 33.74% of the fund s total portfolio. The fund employs leverage through the issuance of Auction Preferred Shares and purchase of mortgage dollar rolls. The use of financial leverage creates an opportunity for increased income, but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares). The cost of leverage rises and falls with changes in short-term interest rates. Such increases/decreases in the cost of the fund s leverage may be offset by increased/decreased income from the fund s floating rate instruments. 4. The blended benchmark index consists of 1/3 Bloomberg Barclays U.S. Mortgage-Backed Securities Index, 1/3 Credit Suisse Leveraged Loan Index and 1/3 Credit Suisse High Yield Index. Source for indexes: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 5. As of 7/31/17, the fund had leverage in the amount of 22.59% of the fund s total portfolio. The fund employs leverage through the issuance of senior fixed rate notes which creates an opportunity for increased income, but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares). The cost of leverage rises and falls with changes in short-term interest rates. Such increases/decreases in the cost of the fund s leverage may be offset by increased/decreased income from the fund s floating rate instruments. 6. Source for index: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 7. Source for indexes: FactSet. The index is unmanaged and includes reinvestment of any income or distributions. It does not reflect any fees, expenses or sales charges. One cannot invest directly in an index, and an index is not representative of the fund s portfolio. Index data is provided for comparison purposes only. The fund is not managed against an index. 8. The fund invests in certain China A shares through its investment in the Templeton China Opportunities Fund, Ltd. (China Fund). The China Fund is a Cayman Islands exempt company, is a wholly-owned subsidiary of the fund, and is able to invest directly in China A shares consistent with the investment objective of the fund. 9. Benefit of expense reduction rounds to less than 0.01%, based on the most recent audited financial statements. 10. Benefit of waiver and payments by affiliates rounds to less than 0.01%, based on the most recent audited financial statements. 11. The fund has an expense reduction contractually guaranteed through August 31, Fund investment results reflect the expense reduction; without this reduction, the results would have been lower. 12. The fund has an expense reduction contractually guaranteed through December 31, Fund investment results reflect the expense reduction; without this reduction, the results would have been lower. 13. Assumes reinvestment of distributions based on the dividend reinvestment and cash purchase plan. 14. Assumes reinvestment of distributions based on net asset value. WHAT ARE THE RISKS? Franklin Limited Duration Income Trust: All investments involve risks, including possible loss of principal. Interest rate movements and mortgage prepayments will affect the fund's share price and yield. Bond prices generally move in the opposite direction of interest rates. As the prices of bonds in a fund adjust to a rise in interest rates, the fund's share price may decline. Investments in lower rated bonds include higher risk of default and loss of principal. The fund is actively managed but there is no guarantee that the manager's investment decisions will produce the desired results. Franklin Universal Trust. All investments involve risks, including possible loss of principal. Bond prices generally move in the opposite direction of interest rates. As prices of bonds in a fund adjust to a rise in interest rates, the fund's share price may decline. Investments in lower rated bonds include higher risk of default and loss of principal. Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions. In addition to having sensitivity to other factors, securities issued by utility companies have historically been sensitive to interest rate changes. When interest rates fall, utility securities prices, and thus a utilities fund's share price, tend to rise; when interest rates rise, their prices generally fall. The fund is actively managed but there is no guarantee that the manager's investment decisions will produce the desired results Templeton Dragon Fund, Inc. All investments involve risks, including possible loss of principal. Special risks are associated with foreign investing, including currency volatility, economic instability and political developments of countries where the fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. There are special risks associated with investments in China, Hong Kong and Taiwan, including exposure to currency fluctuations, less liquidity, expropriation, confiscatory taxation, nationalization and exchange control regulations (including currency blockage), inflation and rapid fluctuations in inflation and interest rates. In addition, investments in Taiwan could be adversely affected by its political and economic relationship with China. Because the fund invests its assets primarily in companies in a specific region, the fund is subject to greater risks of adverse developments in that region and/or the surrounding regions than a fund that is more broadly diversified geographically. Political, social or economic disruptions in the region, even in countries in which the fund is not invested, may adversely affect the value of securities held by the fund. Also, as a nondiversified investment company investing in "China companies," the fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The fund is actively managed but there is no guarantee that the manager's investment decisions will produce the desired results. Closed-End Funds Performance Update 4
5 Templeton Emerging Markets Fund. All investments involve risks, including possible loss of principal. Special risks are associated with foreign investing including currency volatility, economic instability, and social and political developments of countries where the fund invests. Emerging markets are subject to all of the risks of foreign investing generally and involve heightened risks due to these markets' smaller size and lesser liquidity, and lack of established legal, political, business and social frameworks to support securities markets. Some of these heightened risks may include political and social uncertainty (for example, regional conflicts and risk of war); o of corruption and crime in these countries' economic systems; delays in settling portfolio securities transactions; risk of loss arising out of the system of share registration and custody used in these countries; greater sensitivity to interest rate changes; currency and capital controls; currency exchange rate volatility; and inflation, deflation or currency devaluation. The fund may invest a portion of its assets in Russian securities. The United States and other nations have imposed and could impose additional sanctions on certain issuers in Russia due to regional conflicts. These sanctions could result in the devaluation of Russia's currency, a downgrade in Russian issuers' credit ratings, or a decline in the value and liquidity of Russian stocks or other securities. The fund may be prohibited from investing in securities issued by companies subject to such sanctions. In addition, if the fund holds the securities of an issuer that is subject to such sanctions, an immediate freeze of that issuer's securities could result, impairing the ability of the fund to buy, sell, receive or deliver those securities. There is also the risk that counter measures could be taken by Russia's government, which could involve the seizure of the fund's assets. Such sanctions could adversely affect Russia's economy, possibly forcing the economy into a recession. These risks could affect the value of the fund's portfolio. The fund is actively managed but there is no guarantee that the manager's investment decisions will produce the desired results Templeton Emerging Markets Income Fund. All investments involve risks, including possible loss of principal. Changes in interest rates will affect the value of the fund's portfolio and its share price and yield. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments of countries where the fund invests. The fund's investments in emerging market countries are subject to all of the risks of foreign investing generally, and have additional heightened risks due to these markets' smaller size and lesser liquidity and lack of established legal, political, business and social frameworks to support securities markets, including: delays in settling portfolio securities transactions; currency and capital controls; greater sensitivity to interest rate changes; pervasiveness of corruption and crime; currency exchange rate volatility; and inflation, deflation or currency devaluation. The markets for particular securities or types of securities are or may become relatively illiquid. Reduced liquidity will have an adverse impact on the security's value and on the fund's ability to sell such securities when necessary to meet the fund's liquidity needs or in response to a specific market event. The fund's use of foreign currency techniques involves special risks as such techniques may not achieve the anticipated benefits and/or may result in losses to the fund. Also, as a nondiversified investment company, the fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The fund is actively managed but there is no guarantee that the manager's investment decisions will produce the desired results Templeton Global Income Fund. All investments involve risks, including possible loss of principal. Changes in interest rates will affect the value of the fund's portfolio and its share price and yield. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments of countries where the fund invests. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. The markets for particular securities or types of securities are or may become relatively illiquid. Reduced liquidity will have an adverse impact on the security's value and on the fund's ability to sell such securities when necessary to meet the fund's liquidity needs or in response to a specific market event. The fund's use of foreign currency techniques involves special risks as such techniques may not achieve the anticipated benefits and/or may result in losses to the fund. Also, as a nondiversified investment company, the fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The fund is actively managed but there is no guarantee that the manager's investment decisions will produce the desired results. Closed-End Funds Performance Update 5
6 February 18, 2016 Monthly Update Investment Manager Franklin Advisers, Inc. Franklin Limited Duration Income Trust Franklin Universal Trust Templeton Emerging Markets Income Fund Templeton Global Income Fund Investment Manager Templeton Asset Management Ltd. Templeton Emerging Markets Fund Templeton Dragon Fund, Inc. tel: (800) DIAL BEN / franklintempleton.com TRANSFER AGENT American Stock Transfer & Trust Co., LLC th Avenue Brooklyn, NY General Mail Inquiries: Franklin Templeton c/o American Stock Transfer & Trust Co., LLC th Avenue Brooklyn, NY Shareholder Services: Toll Free Phone Number: 1-800/ Hearing Impaired Phone Number: 1-866/ International Phone Number: 718/ Hearing Impaired International Number: 718/ Franklin Templeton Investments. All rights reserved.
Templeton Global Bond Fund
JANUARY 1, 2012 Before you invest, you may want to review the Fund s prospectus, which contains more information about the Fund and its risks. You can find the Fund s prospectus, statement of additional
More informationFRANKLIN GLOBAL TRUST
PROSPECTUS FRANKLIN GLOBAL TRUST December 1, 2017 Class A Class C Class R Class R6 Advisor Class Franklin International Growth Fund FNGAX Pending Pending FILRX FNGZX Franklin International Small Cap Growth
More informationTempleton Global Currency Fund. Advisor Class
Templeton Global Currency Fund Advisor Class Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $35,781,321.47 Fund Inception Date 11/17/1989 Number of Holdings 33 NASDAQ Symbol ICHHX
More informationTempleton China World Fund Advisor Class
Templeton China World Fund Advisor Class Equity Product Profile Product Details 1 Fund Assets $290,551,367.47 Fund Inception Date 09/08/1993 Number of Issuers 51 NASDAQ Symbol TACWX Maximum Sales Charge
More informationFRANKLIN FUND ALLOCATOR SERIES
PROSPECTUS FRANKLIN FUND ALLOCATOR SERIES May 1, 2018 Class A Class C Class R Class R6 Advisor Class Franklin Founding Funds Allocation Fund FFALX FFACX FFARX FFAQX FFAAX Franklin Corefolio Allocation
More informationFRANKLIN GOLD AND PRECIOUS METALS FUND
PROSPECTUS FRANKLIN GOLD AND PRECIOUS METALS FUND December 1, 2017 Class A Class C Class R6 Advisor Class FKRCX FRGOX FGPMX FGADX The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved
More informationTEMPLETON GLOBAL BOND VIP FUND
SUMMARY PROSPECTUS TEMPLETON GLOBAL BOND VIP FUND Franklin Templeton Variable Insurance Products Trust Class 2 May 1, 2018 as amended February 12, 2019 Before you invest, you may want to review the Fund
More informationFranklin NextStep Funds
Franklin NextStep Funds June 30, 2016 MONTHLY PORTFOLIO UPDATE The Simple Way to Invest: Franklin NextStep Funds Simplicity All-in-one portfolios matched to three levels of risk. Diversification A broad
More informationTempleton Emerging Markets Bond Fund Advisor Class
Templeton Emerging Markets Bond Fund Advisor Class Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $34,588,372.19 Fund Inception Date 04/01/2013 Number of Securities 128 Including
More informationTempleton International Bond Fund. Class C
Templeton International Bond Fund Class A, C Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $360,795,665.52 Fund Inception Date 12/03/2007 Number of Securities 124 Including Cash
More informationFranklin Allocation Funds
Asset Allocation Franklin s A TARGETED APPROACH TO ASSET ALLOCATION Franklin Templeton Investments At Franklin Templeton Investments, we re dedicated to one goal: delivering exceptional asset management
More informationTEMPLETON GLOBAL CURRENCY FUND
PROSPECTUS TEMPLETON GLOBAL CURRENCY FUND Franklin Templeton Global Trust May 1, 2018 Class A Class R6 Advisor Class ICPHX FGCQX ICHHX The U.S. Securities and Exchange Commission (SEC) has not approved
More informationFRANKLIN TEMPLETON ETF TRUST
PROSPECTUS FRANKLIN TEMPLETON ETF TRUST August 1, 2018 Franklin FTSE Australia ETF Franklin FTSE Brazil ETF Franklin FTSE Canada ETF Franklin FTSE China ETF Franklin FTSE France ETF Franklin FTSE Germany
More informationSUPPLEMENT DATED DECEMBER 3, 2018
TGB P1 12/18 SUPPLEMENT DATED DECEMBER 3, 2018 TO THE PROSPECTUSES DATED MAY 1, 2018 OF TEMPLETON GLOBAL BOND VIP FUND (a series of Franklin Templeton Variable Insurance Products Trust) The prospectus
More informationFranklin Floating Rate Daily Access Fund Advisor Class
Franklin Floating Rate Daily Access Fund Advisor Class High Yield Fixed Income Product Profile Product Details 1 Fund Assets $3,639,447,605.70 Fund Inception Date 05/01/2001 Number of Securities 207 Including
More informationFranklin Templeton Variable Insurance Products Trust
The SEC has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense. Templeton Global Bond Securities Fund
More informationTEMPLETON BRIC FUND IMPORTANT SHAREHOLDER INFORMATION
TEMPLETON BRIC FUND IMPORTANT SHAREHOLDER INFORMATION These materials are for a Special Meeting of Shareholders of the Templeton BRIC Fund (the BRIC Fund ), a series of Templeton Global Investment Trust,
More informationPIMCO CommoditiesPLUS Strategy Fund
PIMCO CommoditiesPLUS Strategy Fund SUMMARY PROSPECTUS July 30, 2018 Share Class: Inst I-2 I-3 Admin A C Ticker: PCLIX PCLPX PCLNX PCPSX PCLAX PCPCX Before you invest, you may want to review the Fund s
More informationAdvisor Class. Average Annual Total Returns 5 (%) 3 Mths YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs 20 Yrs (10/16/1991)
Templeton Developing Markets Trust Advisor Class Value Equity Product Profile Product Details 1 Fund Assets $1,420,822,800.04 Fund Inception Date 10/16/1991 Number of Issuers 94 NASDAQ Symbol TDADX Maximum
More informationCenterPoint Energy Savings Plan Prospectus Supplement
CenterPoint Energy Savings Plan Prospectus Supplement Use the links below to access a specific section of the Savings Plan Prospectus Supplement or a fund description. Introduction... 1 Risk... 2 General
More informationFranklin Flexible Alpha Bond Fund. Advisor Class
Franklin Flexible Alpha Bond Fund Advisor Class Absolute Return Fixed Income Product Profile Product Details 1 Fund Assets $416,313,682.95 Fund Inception Date 08/03/2015 Number of 406 Including Cash NASDAQ
More informationF R A N K L I N T E M P L E T O N. FoundingFunds Strategy
F R A N K L I N T E M P L E T O N FoundingFunds Strategy Franklin Templeton Investments Gain From Our Perspective Franklin Templeton s distinct multi-manager structure combines the specialized expertise
More informationASSET ALLOCATION MADE EASY
ASSET ALLOCATION MADE EASY REACHING YOUR GOALS AT YOUR PACE Most people can rattle off their investment goals: retirement, college tuition, a new house. That s easy. What s harder is successfully reaching
More informationFRANKLIN INDIA GROWTH FUND
PROSPECTUS FRANKLIN INDIA GROWTH FUND Franklin Templeton International Trust March 1, 2018 Class A Class C Class R6 Advisor Class FINGX FINDX FIGEX FIGZX The U.S. Securities and Exchange Commission (SEC)
More informationPIMCO CommodityRealReturn Strategy Fund
Your Global Investment Authority PIMCO CommodityRealReturn Strategy Fund SUMMARY PROSPECTUS July 31, 2015 Share Class: Inst P Admin D A C R Ticker: PCRIX PCRPX PCRRX PCRDX PCRAX PCRCX PCSRX Total Annual
More informationFranklin Emerging Market Debt Opportunities Fund Advisor Class
Franklin Emerging Market Debt Opportunities Fund Advisor Class Unconstrained Fixed Income Product Profile Product Details Fund Assets $524,491,236.03 Fund Inception Date 05/24/2006 Number of Securities
More informationFranklin K2 Long Short Credit Fund. Advisor Class
Franklin K2 Long Short Credit Fund Advisor Class Multi Strategy Alternatives Product Profile Product Details Fund Assets $88,117,929.04 Fund Inception Date 09/08/2015 Investment Style Multi Strategy Benchmark
More informationTEMPLETON WORLD FUND
PROSPECTUS TEMPLETON WORLD FUND Templeton Funds January 1, 2018 Class A Class C Class R6 Advisor Class TEMWX TEWTX FTWRX TWDAX The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved
More informationFIVE REASONS WHY INVESTORS BUY AND HOLD FRANKLIN INCOME FUND
FIVE REASONS WHY INVESTORS BUY AND HOLD FRANKLIN INCOME FUND ENOUGH SHAREHOLDERS TO FILL THE ROSE BOWL FOUR TIMES OVER Franklin Income Fund has been a popular choice among financial advisors and their
More informationRISING RATES What You Need to Know
RISING RATES What You Need to Know Although rising interest rates may primarily challenge those bond investments with the highest sensitivity to interest rates, we believe many parts of the global fixed
More informationPIMCO CommodityRealReturn Strategy Fund
PIMCO CommodityRealReturn Strategy Fund SUMMARY PROSPECTUS July 29, 2016 Share Class: Inst P Admin D A C R Ticker: PCRIX PCRPX PCRRX PCRDX PCRAX PCRCX PCSRX Total Annual Fund Operating Expenses After Fee
More informationFranklin Corefolio Allocation Fund Class A, C
Franklin Corefolio Allocation Fund Class A, C Total Return Multi-Asset Product Profile Product Details Fund Assets $837,587,913.31 Fund Inception Date 08/15/2003 Investment Style Benchmark Lipper Classification
More informationFranklin Utilities Fund Class A, C
Utilities Equity Product Profile Product Details 1 Fund Assets $5,788,850,628.56 Fund Inception Date 09/30/1948 Number of Issuers 43 Investment Style Benchmark Lipper Classification Morningstar Category
More informationTEMPLETON EMERGING MARKETS BALANCED FUND
PROSPECTUS TEMPLETON EMERGING MARKETS BALANCED FUND Templeton Global Investment Trust May 1, 2018 Class A Class C Class R Class R6 Advisor Class TAEMX Pending Pending FEBQX TZEMX The U.S. Securities and
More informationTempleton Growth VIP Fund
MAY 1, 2016, AS AMENDED SEPTEMBER 28, 2016 Before you invest, you may want to review the Fund s prospectus, which contains more information about the Fund and its risks. You can find the Fund s prospectus,
More informationFranklin Mutual Beacon Fund Class A, C
Franklin Mutual Beacon Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $3,824,681,802.00 Fund Inception Date 06/29/1962 Number of Issuers 60 Investment Style Benchmark Lipper
More informationTEMPLETON GROWTH FUND, INC.
PROSPECTUS TEMPLETON GROWTH FUND, INC. January 1, 2018 Class A Class C Class R Class R6 Advisor Class TEPLX TEGTX TEGRX FTGFX TGADX The U.S. Securities and Exchange Commission (SEC) has not approved or
More informationSUPPLEMENT DATED FEBRUARY 1, 2019
FFA P1 P2 P4 02/19 SUPPLEMENT DATED FEBRUARY 1, 2019 TO THE PROSPECTUSES DATED MAY 1, 2018 FRANKLIN FOUNDING FUNDS ALLOCATION VIP FUND (a series of Franklin Templeton Variable Insurance Products Trust)
More informationTEMPLETON DEVELOPING MARKETS VIP FUND
TEMPLETON DEVELOPING MARKETS VIP FUND Franklin Templeton Variable Insurance Products Trust Class 4 May 1, 2017 Before you invest, you may want to review the Fund s prospectus, which contains more information
More informationFranklin Templeton Variable Insurance Products Trust
The SEC has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense. Templeton Developing Markets Securities
More informationCOLUMBIA VARIABLE PORTFOLIO EMERGING MARKETS FUND
PROSPECTUS May 1, 2018 COLUMBIA VARIABLE PORTFOLIO EMERGING MARKETS FUND The Fund may offer Class 1, Class 2 and Class 3 shares to separate accounts funding variable annuity contracts and variable life
More informationCOLUMBIA VARIABLE PORTFOLIO OVERSEAS CORE FUND
PROSPECTUS May 1, 2018 COLUMBIA VARIABLE PORTFOLIO OVERSEAS CORE FUND (FORMERLY KNOWN AS COLUMBIA VARIABLE PORTFOLIO - SELECT INTERNATIONAL EQUITY FUND) The Fund may offer Class 1, Class 2 and Class 3
More informationFRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
PROSPECTUS FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST May 1, 2018 CLASS 2 Franklin Rising Dividends VIP Fund The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved
More informationFRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
PROSPECTUS FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST May 1, 2018 CLASS 2 Franklin Founding Funds Allocation VIP Fund The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved
More informationTEMPLETON INSTITUTIONAL FUNDS
PROSPECTUS TEMPLETON INSTITUTIONAL FUNDS May 1, 2018 Advisor Class Primary Shares Service Shares Foreign Smaller Companies Series TFSCX Global Equity Series TGESX International Equity Series TFEQX TFESX
More informationSPDR MSCI Emerging Markets StrategicFactors SM ETF
SPDR MSCI Emerging Markets StrategicFactors SM ETF Summary Prospectus-January 31, 2018 QEMM (NYSE Ticker) Before you invest in the SPDR MSCI Emerging Markets StrategicFactors SM ETF (the Fund ), you may
More informationTempleton Emerging Markets Bond Fund Class A, C
Templeton Emerging Markets Bond Fund Class A, C Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $34,588,372.19 Fund Inception Date 04/01/2013 Number of Securities 128 Including
More informationTEMPLETON DEVELOPING MARKETS VIP FUND
TEMPLETON DEVELOPING MARKETS VIP FUND Franklin Templeton Variable Insurance Products Trust Class 2 May 1, 2018 Before you invest, you may want to review the Fund s prospectus, which contains more information
More informationProspectus. May 1, Natixis ETFs Natixis Loomis Sayles Short Duration Income ETF
Prospectus May 1, 2018 Natixis ETFs Natixis Loomis Sayles Short Duration Income ETF NYSE Arca: LSST The Securities and Exchange Commission ( SEC ) has not approved or disapproved the Fund s shares or determined
More informationFRANKLIN US INDEX. Charting a course toward stable growth. For Financial Professional Use / Not for Distribution to the Public
FRANKLIN US INDEX Charting a course toward stable growth For Financial Professional Use / Not for Distribution to the Public A SMART INDEX STARTS WITH A SMART SCREEN The is a daily blended index powered
More informationMutual Shares Fund MAY 1, 2011
MAY 1, 2011 Before you invest, you may want to review the Fund s prospectus, which contains more information about the Fund and its risks. You can find the Fund s prospectus, statement of additional information
More informationProspectus April 30, 2018
PIMCO Equity Series VIT Prospectus April 30, 2018 Share Class: Institutional PIMCO StocksPLUS Global Portfolio This prospectus is intended for use in connection with variable annuity contracts and variable
More informationFranklin Select U.S. Equity Fund. Advisor Class
Franklin Select U.S. Equity Fund Advisor Class Blend Equity Product Profile Product Details 1 Fund Assets $91,842,807.55 Fund Inception Date 12/13/2007 Number of Issuers 49 NASDAQ Symbol FCEZX Maximum
More informationFRANKLIN EMERGING MARKET DEBT OPPORTUNITIES FUND
PROSPECTUS FRANKLIN EMERGING MARKET DEBT OPPORTUNITIES FUND Franklin Global Trust December 1, 2017 TICKER: FEMDX The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved these
More informationFranklin Utilities Fund Advisor Class
Utilities Equity Product Profile Product Details 1 Fund Assets $5,726,572,437.83 Fund Inception Date 09/30/1948 Number of Issuers 45 NASDAQ Symbol FRUAX Maximum Sales Charge Investment Style Benchmark
More informationFranklin Mutual European Fund Class A, C
Franklin Mutual European Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $2,137,388,947.56 Fund Inception Date 07/03/1996 Number of Issuers 53 Investment Style Benchmark Lipper
More informationMulti-Asset. Franklin Income Fund A HISTORY OF INCOME AND GROWTH
Multi-Asset Franklin Income Fund A HISTORY OF INCOME AND GROWTH Not FDIC Insured May Lose Value No Bank Guarantee Why Franklin Income Fund? Key Reasons to Invest Whether you re saving for retirement or
More informationFranklin Founding Funds Strategy
Franklin Founding Funds Strategy Franklin Templeton Investments At Franklin Templeton Investments, we re dedicated to one goal: delivering exceptional asset management for our clients. By bringing together
More informationFranklin Rising Dividends Fund
Blend Franklin Rising Dividends Fund A UNIQUE APPROACH TO INVESTING The Strategy Franklin Rising Dividends Fund employs a unique, disciplined approach to stock selection. Generally, companies must meet
More informationBaron International Growth Fund Retail Shares : BIGFX Institutional Shares : BINIX R6 Shares : BIGUX
Summary Prospectus April 30, 2018 Baron International Growth Fund Retail Shares : BIGFX Institutional Shares : BINIX R6 Shares : BIGUX Baron Select Funds BARON F U N D S Before you invest, you may want
More informationA RETIREMENT JOURNEY Meet Lydia
A RETIREMENT JOURNEY Meet Lydia A hypothetical illustration This is Lydia s story. Born and raised in New York, Lydia grew up around the bright lights of Broadway and, as a result, has always been a dreamer.
More informationRetail Shares : BFGFX Institutional Shares : BFGIX R6 Shares: BFGUX Baron International Growth Fund
Prospectus December 29, 2017 Baron Partners Fund Retail Shares : BPTRX Institutional Shares : BPTIX R6 Shares: BPTUX Baron Focused Growth Fund Retail Shares : BFGFX Institutional Shares : BFGIX R6 Shares:
More informationFranklin Fund Allocator Series
Annual Report May 31, 2017 Franklin Fund Allocator Series Franklin NextStep Conservative Fund Franklin NextStep Moderate Fund Franklin NextStep Growth Fund Sign up for electronic delivery at franklintempleton.com/edelivery
More informationTempleton China World Fund
Prospectus January 1, 2016 The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary
More informationCOLUMBIA VARIABLE PORTFOLIO ASSET ALLOCATION FUND
PROSPECTUS May 1, 2017 COLUMBIA VARIABLE PORTFOLIO ASSET ALLOCATION FUND The Fund may offer Class 1 and Class 2 shares to separate accounts funding variable annuity contracts and variable life insurance
More informationANCHOR SERIES TRUST SA BLACKROCK MULTI-ASSET INCOME PORTFOLIO
SUMMARY PROSPECTUS MAY 1, 2017 ANCHOR SERIES TRUST SA BLACKROCK MULTI-ASSET INCOME PORTFOLIO (CLASS 1 AND 3 SHARES) s Statutory Prospectus and Statement of Additional Information dated May 1, 2017, and
More informationProspectus April 30, 2018
PIMCO Variable Insurance Trust Prospectus April 30, 2018 Share Class: Administrative STRATEGIC ASSET ALLOCATION PORTFOLIO WITH DYNAMIC RISK MANAGEMENT PIMCO Global Diversified Allocation Portfolio This
More informationFranklin High Income Fund Class A, C
High Yield Fixed Income Product Profile Product Details 1 Fund Assets $3,328,363,618.22 Fund Inception Date 12/31/1969 Number of Securities 261 Including Cash NASDAQ Symbol FHAIX Investment Style High
More informationFRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
PROSPECTUS FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST May 1, 2018 CLASS 2 Franklin U.S. Government Securities VIP Fund The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved
More informationPortfolio Optimization Conservative Portfolio
Summary Prospectus May 1, 2018 Class I Shares Portfolio Optimization Conservative Portfolio This summary prospectus is intended for use in connection with variable life insurance policies and variable
More informationParticipant investment disclosure
Participant investment disclosure Share Class A-MOP Investment options as of 12/31/2014 Fund name Fund manager Growth 1 year 5 years 10 years Lifetime 1 year 5 years 10 years Lifetime AMCAP Fund 5/1/1967
More informationPortfolio Optimization Aggressive-Growth Portfolio
Summary Prospectus May 1, 2018 Class I Shares Portfolio Optimization Aggressive-Growth Portfolio This summary prospectus is intended for use in connection with variable life insurance policies and variable
More informationFranklin Fund Allocator Series
Annual Report and Shareholder Letter December 31, 2017 Franklin Fund Allocator Series Franklin Corefolio Franklin Founding Funds Sign up for electronic delivery at franklintempleton.com/edelivery Franklin
More informationThe Universal Institutional Funds, Inc.
Class II Prospectus August 26, 2016 The Universal Institutional Funds, Inc. Global Strategist Portfolio Total return. Adviser Morgan Stanley Investment Management Inc. The Universal Institutional Funds,
More informationPIMCO Low Duration Income Fund
PIMCO Low Duration Income Fund SUMMARY PROSPECTUS July 28, 2017 (as supplemented April 27, 2018) Share Class: Inst I-2 I-3 A C Ticker: PFIIX PFTPX PFNIX PFIAX PFNCX Before you invest, you may want to review
More informationFranklin Biotechnology Discovery Fund Advisor Class
Franklin Discovery Fund Advisor Class Equity Product Profile Product Details 1 Fund Assets $1,391,510,431.86 Fund Inception Date 09/15/1997 Number of Issuers 91 NASDAQ Symbol FTDZX Maximum Sales Charge
More informationFRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
PROSPECTUS FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST May 1, 2017 CLASS 1 Templeton Developing Markets VIP Fund The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved
More informationFranklin Liberty Short Duration U.S. Government ETF
Franklin Liberty Short Duration U.S. Government ETF Prospectus October 1, 2016 Franklin ETF Trust TICKER: EXCHANGE: formerly, Franklin Short Duration U.S. Government ETF FTSD NYSE Arca, Inc. The U.S. Securities
More informationPIMCO TRENDS Managed Futures Strategy Fund
PIMCO TRENDS Managed Futures Strategy Fund SUMMARY PROSPECTUS July 30, 2018 Share Class: Inst I-2 I-3 A C Ticker: PQTIX PQTPX PQTNX PQTAX PQTCX Before you invest, you may want to review the Fund s prospectus,
More informationBaron Emerging Markets Fund Retail Shares : BEXFX Institutional Shares : BEXIX R6 Shares : BEXUX
Summary Prospectus April 30, 2018 Baron Emerging Markets Fund Retail Shares : BEXFX Institutional Shares : BEXIX R6 Shares : BEXUX Baron Select Funds BARON F U N D S Before you invest, you may want to
More informationPIMCO Dividend and Income Fund
PIMCO Dividend and Income Fund SUMMARY PROSPECTUS October 27, 2017 (as supplemented July 30, 2018) Share Class Inst I-2 I-3 A C Ticker PQIIX PQIPX PQIZX PQICX Before you invest, you may want to review
More informationFIERA CAPITAL EMERGING MARKETS FUND. A Series of Fiera Capital Series Trust. Prospectus Dated March 16, Investor Class Shares (RIMIX)
FIERA CAPITAL EMERGING MARKETS FUND A Series of Fiera Capital Series Trust Prospectus Dated March 16, 2018 Investor Class Shares (RIMIX) Institutional Class Shares (CNRYX) 375 Park Avenue, 8 th Floor New
More informationTempleton Emerging Markets Small Cap Fund Class A, C
Templeton Emerging Markets Small Cap Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $1,006,954,613.92 Fund Inception Date 10/02/2006 Number of Issuers 132 Investment Style Benchmark
More informationFranklin Rising Dividends Fund
FEBRUARY 1, 2011 The SEC has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense. Class A Class B Class
More informationCTIVP SM AQR MANAGED FUTURES STRATEGY FUND
PROSPECTUS May 1, 2018 (FORMERLY KNOWN AS VARIABLE PORTFOLIO AQR MANAGED FUTURES STRATEGY FUND) The Fund may offer Class 1 and Class 2 shares to separate accounts funding variable annuity contracts and
More informationTempleton Asian Growth Fund A (Ydis) USD
Franklin Templeton Investment Funds Templeton Asian Growth Fund Asia ex Japan Equity 30.11.2017 Fund Fact Sheet For the source and calculation basis of Fund information, please refer to the *Explanatory
More informationRetail Money Market Funds
Prospectus June 1, 2017 Retail Money Market Funds Wells Fargo Fund Wells Fargo Money Market Fund Wells Fargo National Tax-Free Money Market Fund Premier Class WMPXX WFNXX As with all mutual funds, the
More informationFranklin India Growth Fund Class A, C
Franklin India Growth Fund Class A, C Growth Equity Product Profile Product Details 1 Fund Assets $142,820,884.05 Fund Inception Date 01/31/2008 Number of Issuers 45 Investment Style Benchmark Lipper Classification
More informationBaron Focused Growth Fund. Retail Shares : BFGFX Institutional Shares : BFGIX Baron International Growth Fund
Prospectus April 30, 2012 Baron Partners Fund Retail Shares : BPTRX Institutional Shares : BPTIX Baron Focused Growth Fund Retail Shares : BFGFX Institutional Shares : BFGIX Baron International Growth
More informationFRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
PROSPECTUS FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST May 1, 2018 CLASS 2 Franklin Income VIP Fund The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved these securities
More informationTempleton Foreign Fund
Prospectus January 1, 2015 Templeton Funds The U.S. Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation
More informationSUPPLEMENT DATED OCTOBER 9, 2018
TG P1 P2 P4 10/18 SUPPLEMENT DATED OCTOBER 9, 2018 TO THE PROSPECTUS DATED MAY 1, 2018 OF TEMPLETON GROWTH VIP FUND (A series of Franklin Templeton Variable Insurance Products Trust) The Prospectus is
More informationDoubleLine. DoubleLine Emerging Markets Fixed Income Fund
SUMMARY PROSPECTUS July 31, 2018 DoubleLine Emerging Markets Fixed Income Fund DoubleLine F U N D S Share Class (Ticker): Class I (DBLEX) Class N (DLENX) Before you invest, you may wish to review the Fund
More informationFranklin Templeton Fixed Income Group. Franklin Templeton Investment Funds Franklin Asia Credit Fund - I (acc) USD. Data as of 30 November 2018
Franklin Templeton Fixed Income Group Data as of 30 November 2018 Franklin Templeton Investment Funds - I (acc) USD Table of Contents Summary...3 What are the Key Risks?...4 Discrete Performance... 5 Historical
More information1. The portfolio management team under Fund Summaries Portfolio Managers section on page TG-S4 is revised as follows:
TG-1 0810 P1, P2, P4 SUPPLEMENT DATED AUGUST 1, 2010 TO THE PROSPECTUS DATED MAY 1, 2010 TEMPLETON GROWTH SECURITIES FUND (A series of Franklin Templeton Variable Insurance Products Trust) The prospectus
More informationFRANKLIN CUSTODIAN FUNDS
PROSPECTUS FRANKLIN CUSTODIAN FUNDS February 1, 2018 Advisor Class A Class M Class C Class R Class R6 Class Franklin DynaTech Fund FKDNX FDYNX FDNRX FDTRX FDYZX Franklin Growth Fund FKGRX FRGSX FGSRX FIFRX
More informationA
31.10.2018 * () 3.18 16.04.1991 48 * ( ) * Sukumar Rajah: Eric Mok, CFA: * * 5 () (%) A 140 120 100 % 99.64 0.36 80 60 10/13 04/14 10/14 04/15 10/15 04/16 10/16 04/17 10/17 04/18 10/18 () (%) 3 1 3 5 10
More informationCOLUMBIA VARIABLE PORTFOLIO HIGH YIELD BOND FUND
PROSPECTUS May 1, 2018 COLUMBIA VARIABLE PORTFOLIO HIGH YIELD BOND FUND The Fund may offer Class 1, Class 2 and Class 3 shares to separate accounts funding variable annuity contracts and variable life
More informationJPMorgan Insurance Trust Class 1 Shares
Prospectus JPMorgan Insurance Trust Class 1 Shares May 1, 2017 JPMorgan Insurance Trust Core Bond Portfolio* * The Portfolio does not have an exchange ticker symbol. The Securities and Exchange Commission
More informationFranklin Mutual Shares Fund Class A, C
Franklin Mutual Shares Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $14,621,479,257.66 Fund Inception Date 07/01/1949 Number of Issuers 98 Investment Style Benchmark Lipper
More information