Franklin Global Allocation Fund Q3 2024 Commentary

Fund Particulars

Inception Date

08/15/2003

Benchmark

Blended Benchmark

MSCI All Nation World Index-NR

Fund Description

The fund seeks the best degree of long-term complete return that’s according to an appropriate degree of threat by investing in a diversified portfolio of debt and fairness securities and, to a lesser extent, various methods. The fund might shift its investments from one asset class to a different primarily based on the funding supervisor’s evaluation of one of the best alternatives for the fund’s portfolio in a given market. Below regular market situations, no less than 40% of the fund’s internet property are invested in non-US investments, together with in rising markets.

Efficiency Information[1]

Common Annual Whole Returns[2](%)

	1 Mth	3 Mths	1 12 months	3 Years	5 Years	10 Years	Since Inception	Inception Date
Advisor Class – With Gross sales Expenses a	1.46	4.77	25.27	6.55	6.72	5.11	6.46	08/15/2003
Advisor Class – With out Gross sales Expenses a	1.46	4.77	25.27	6.55	6.72	5.11	6.46	08/15/2003
Class A – With Gross sales Expenses a	-4.16	-1.00	18.09	4.32	5.26	4.26	5.89	08/15/2003
Class A – With out Gross sales Expenses a	1.40	4.75	24.96	6.30	6.46	4.85	6.17	08/15/2003
Blended Benchmark	1.79	5.39	22.52	5.35	7.94	6.72	6.80	–
MSCI All Nation World Index-NR	2.32	6.61	31.76	8.09	12.18	9.38	8.79	–
Efficiency knowledge quoted represents previous efficiency, which doesn’t assure future outcomes. Present efficiency could also be decrease or greater than the figures proven. Principal worth and funding returns will fluctuate, and traders’ shares, when redeemed, could also be price kind of than the unique value. Efficiency would have been decrease if charges had not been waived in numerous intervals. Whole returns assume the reinvestment of all distributions and the deduction of all fund bills. Returns with gross sales cost mirror a deduction of the acknowledged most gross sales cost. Returns for intervals of lower than one 12 months usually are not annualized. All lessons of shares will not be accessible to all traders or by all distribution channels. For present month-end efficiency, please name Franklin Templeton at (800) DIAL BEN/(800) 342-5236 or go to www.franklintempleton.com. An investor can’t make investments instantly in an index, and unmanaged index returns don’t mirror any charges, bills or gross sales prices.
Share Class Particulars
			Gross sales Expenses				Bills
	CUSIP	Ticker	Max	CDSC		Gross		Internet
Advisor Class	35472P794	FFAAX	–		–	0.75%		0.72%
Class A	35472P844	FFALX	5.50%		–	1.00%		0.97%

The Blended Benchmark consists of 60% MSCI All Nation World Index-NR, 30% Bloomberg Multiverse (100% hedged to USD) Index and 10% money and money equivalents. MSCI All Nation World Index is a market capitalization-weighted index designed to measure the fairness market efficiency of developed and rising markets. The Bloomberg Multiverse (100% hedged to USD) Index gives a broad-based measure of the worldwide fastened revenue bond market. Supply: MSCI makes no warranties and shall haven’t any legal responsibility with respect to any MSCI knowledge reproduced herein. No additional redistribution or use is permitted. This report will not be ready or endorsed by MSCI. Bloomberg Indices.

Internet Returns embrace revenue internet of tax withholding when dividends are paid. The MSCI All Nation World Index is a market capitalization-weighted index that’s designed to measure fairness market efficiency of developed and rising markets. Supply: MSCI makes no warranties and shall haven’t any legal responsibility with respect to any MSCI knowledge reproduced herein. No additional redistribution or use is permitted. This report will not be ready or endorsed by MSCI.

[DATA SERVICE SOURCE REQUIRED]

Portfolio Diversification

High Holdings % of Whole
High Holdings	%
UNITED STATES TREASURY NOTE/BOND	6.01
APPLE INC	3.16
BUNDESREPUBLIK DEUTSCHLAND BUNDESANLEIHE	3.11
MICROSOFT CORP	2.38
NVIDIA CORP	2.30
U Okay TREASURY NOTE/BOND	2.29
FRANKLIN SYSTEMATIC STYLE PREMIA ETF	1.90
VANECK J.P. MORGAN EM LOCAL CURRENCY BOND ETF	1.84
ABBVIE INC	1.59
ALPHABET INC	1.54

Footnotes

Efficient Might 1, 2024, the fund modified the fastened revenue element of its Blended Benchmark to the Bloomberg Multiverse (100% hedged to USD) Index.
Intervals shorter than one 12 months are proven as cumulative complete returns.

What Are The Dangers?

All investments contain dangers, together with attainable lack of principal. Fairness securities are topic to cost fluctuation and attainable lack of principal. Mounted revenue securities contain rate of interest, credit score, inflation and reinvestment dangers, and attainable lack of principal. As rates of interest rise, the worth of fastened revenue securities falls. Low-rated, high-yield bonds are topic to higher value volatility, illiquidity and risk of default. The funding type might change into out of favor, which can have a adverse impression on efficiency. Worldwide investments are topic to particular dangers, together with forex fluctuations and social, financial and political uncertainties, which may improve volatility. These dangers are magnified in rising markets. To the extent the portfolio invests in a focus of sure securities, areas or industries, it’s topic to elevated volatility. To the extent the fund invests in various methods, it could be uncovered to probably important fluctuations in worth. The supervisor might contemplate environmental, social and governance standards within the analysis or funding course of; nonetheless, ESG issues will not be a determinative consider safety choice. As well as, the supervisor might not assess each funding for ESG standards, and never each ESG issue could also be recognized or evaluated. These and different dangers are mentioned within the fund’s prospectus.

Vital Info

The data supplied will not be an entire evaluation of each materials reality relating to any nation, market, trade, safety or fund. As a result of market and financial situations are topic to vary, feedback, opinions and analyses are rendered as of the date of this materials and should change with out discover. A portfolio supervisor’s evaluation of a specific safety, funding or technique will not be meant as particular person funding recommendation or a advice or solicitation to purchase, promote or maintain any safety or to undertake any funding technique; it’s meant solely to supply perception into the fund’s portfolio choice course of. Holdings are topic to vary.

Earlier than investing, fastidiously contemplate a fund’s funding aims, dangers, prices and bills. Yow will discover this and different info in every prospectus, or abstract prospectus, if accessible, at www.franklintempleton.com. Please learn it fastidiously.

Franklin Distributors, LLC. Member FINRA/SIPC.

Efficient February 1, 2021, the fund modified its principal funding objective and techniques.

CFA® and Chartered Monetary Analyst® are logos owned by CFA Institute.

Supply: FactSet. Vital knowledge supplier notices and phrases accessible at www.franklintempletondatasources.com.

a. Gross bills are the fund’s complete annual working bills as of the fund’s prospectus accessible on the time of publication. Precise bills could also be greater and should impression portfolio returns. Internet bills mirror contractual price waivers, expense caps and/or reimbursements, which can’t be terminated previous to 04/30/2025 with out Board consent. Further quantities could also be voluntarily waived and/or reimbursed and could also be modified or discontinued at any time with out discover.

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