Return information presented is stated in U.S. Dollars and is calculated using the share class indicated above after all Fund operating expenses but before sales charges. The maximum sales charge for Class A Shares is 5.00% and 2.50% for Class E Shares. Class B Shares may be subject to a contingent deferred sales charge (“CDSC”) up to 5%, imposed on redemptions within the first five years after purchase. Class C Shares may be subject to a CDSC up to 1%, imposed on redemptions within the first year after purchase. Performance would have been lower if sales charges had been included. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Total return data is as of the date indicated and reflects the reinvestment of distributions. Performance statistics are for the share class indicated only; return figures and other data for other classes of shares will vary. Cumulative returns and returns of less than one year are not annualized. The performance data shown represents past performance and is no guarantee of future results. Funds may not be exchangeable with other Franklin Templeton managed funds. Please see the Funds' offering documents or contact your service agent for more information.
Performance shown may include periods prior to the Fund’s inception date, reflecting performance of a predecessor fund with a substantially similar investment objective and policy and whose assets were transferred into the Fund at inception. The performance data should be used for illustrative purposes only, as performance prior to the inception date has not been adjusted to reflect the fees of the Fund. See each Fund’s individual landing page for more information.