a guide to franklin templeton canada’s etfs, funds … · maximum diversification for income...

A GUIDE TO FRANKLIN TEMPLETON CANADA’S ETFs, FUNDS AND PORTFOLIOS

February 2020

ADVISOR MONTHLY

Commissions, management fees and expenses may all be associated with investments in exchange-traded funds (ETFs). Investment objectives, risks, fees, expenses, and other important information are contained in the prospectus; please read the prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.© 2020 Franklin Templeton. All rights reserved.

LEAVE AVERAGE FIXED INCOME BEHINDActive ETFs to take you beyond the bond index

FLCI | FLGA | FLUI | FLCP | FLSD

Uncertainty in rates and lower yields poses serious challenges to passive � xed income strategies. Our active � xed income managers turn these and other market challenges into opportunities to get ahead.

franklintempleton.ca/getactive

CAEN_FI2_RUNNER_8x10.875_AM_1019.indd 1CAEN_FI2_RUNNER_8x10.875_AM_1019.indd 1 23/12/2019 14:1223/12/2019 14:12

* Please refer to the Fund’s page for additional information on mergers.† As of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund was renamed to Franklin Bissett Short Duration Bond Fund.

Beginning in January 2017, investors switching between Corporate Class funds will trigger a capital gain or loss at the time of the switch due to certain changes in the income tax laws made by the federal government in 2016. Series I and V closed to new investors as of November 22, 2016.

TABLE OF CONTENTS

FUND CODES 81

FUND TRAILER FEES 87

FUND RISK RATINGS 88

MORNINGSTAR RATINGS 89

PORTFOLIO AND FUND PERFORMANCE 90

REGIONAL SALES CONTACTS 95

FRANKLIN QUOTENTIAL

Franklin Quotential Diversified Income Portfolio 01

Franklin Quotential Balanced Income Portfolio 02

Franklin Quotential Balanced Growth Portfolio 03

Franklin Quotential Growth Portfolio 04

Franklin Quotential Diversified Equity Portfolio 05

CANADIAN BALANCEDFranklin Bissett Canadian Balanced Fund 23

Franklin Bissett Dividend Income Fund 31

Franklin Bissett Monthly Income and Growth Fund 32

GLOBAL BALANCEDTempleton Global Balanced Fund 08

Franklin U.S. Monthly Income Fund 17

Franklin U.S. Monthly Income Hedged Corporate Class 18

CANADIAN EQUITYFranklin ActiveQuant Canadian Fund 34

Franklin Bissett Canada Plus Equity Fund 22

Franklin Bissett Canadian Equity Fund 26

Franklin Bissett Small Cap Fund 33

CANADIAN DIVIDENDFranklin Bissett Canadian Dividend Fund* 25

U.S. EQUITYFranklin U.S. Opportunities Fund 19

Franklin ActiveQuant U.S. Fund 35

Franklin U.S. Rising Dividends Fund 20

Franklin U.S. Rising Dividends Hedged Corporate Class 21

GLOBAL AND INTERNATIONAL EQUITYFranklin Global Growth Fund 14

Franklin Mutual Global Discovery Fund 36

Templeton EAFE Developed Markets Fund 06

Templeton Global Smaller Companies Fund 11

Templeton Growth Fund, Ltd. 12

Templeton International Stock Fund 13

EMERGING MARKETS EQUITYTempleton Emerging Markets Fund 07

CANADIAN FIXED INCOMEFranklin Bissett Canadian Bond Fund 24

Franklin Bissett Canadian Government Bond Fund 27

Franklin Bissett Short Duration Bond Fund† 28

Franklin Bissett Core Plus Bond Fund 29

Franklin Bissett Corporate Bond Fund 30

GLOBAL FIXED INCOMEFranklin High Income Fund 15

Franklin Strategic Income Fund 16

Templeton Global Bond Fund 09

Templeton Global Bond Fund (Hedged) 10

MONEY MARKET FUNDS 37

MULTI-ASSETFranklin Conservative Income ETF Portfolio 39

Franklin Core ETF Portfolio 40

Franklin Growth ETF Portfolio 41

FRANKLIN LIBERTYSHARES® ETFsFranklin FTSE Canada All Cap Index ETF 43

Franklin FTSE Europe ex.-U.K. Index ETF 45

Franklin FTSE Japan Index ETF 47

Franklin FTSE U.S. Index ETF 49

Franklin Liberty Canadian Investment Grade Corporate ETF 51

Franklin Liberty Core Balanced ETF 53

Franklin Liberty Core Plus Bond ETF 55

Franklin Liberty Global Aggregate Bond ETF (CAD-Hedged) 57

Franklin Liberty Risk Managed Canadian Equity ETF 59

Franklin Liberty Senior Loan ETF (CAD-Hedged) 61

Franklin Liberty Short Duration Bond ETF 63Franklin Liberty U.S. Investment Grade Corporate ETF (CAD-Hedged)

65

Franklin LibertyQT Emerging Markets Index ETF 67

Franklin LibertyQT Global Dividend Index ETF 69

Franklin LibertyQT International Equity Index ETF 71

Franklin LibertyQT U.S. Equity Index ETF 73

PRIVATE WEALTH POOLSFT Balanced Growth Private Wealth Pool 76

FT Balanced Income Private Wealth Pool 77

FT Growth Private Wealth Pool 78

ALTERNATIVE STRATEGIESFranklin K2 Alternatives Fund 80

1 ADVISOR MONTHLY Dealer Use Only / Not for Distribution to the Public

Franklin Quotential Diversified Income PortfolioAs of February 1, 2017, all U.S.-dollar denominated series of this fund are closed to new investors.

Franklin QuotentialFranklin Templeton Multi-Asset Solutions* January 31, 2020

Fund Overview

Total Net Assets $1,769,536,7041

Inception Date Series T: 02/17/2003

Series F: 06/26/2008

Number of Holdings 16

Morningstar Category TM Global Fixed IncomeBalanced

Benchmark Custom FranklinQuotential DiversifiedIncome Benchmark2

Investment Objective & StrategyHigh current income and some long-term capital appreciationby investing primarily in a diversified mix of income and bondmutual funds.

Fund Management

Ian M. Riach 34 Years, Toronto, Canada

Michael Greenberg 17 Years, Toronto, Canada

Risk Classification

Low Low toMedium

Medium Mediumto High

High

Asset Allocation (%)Fixed Income 79.07

Equity 19.51

Cash & Cash Equivalents 1.42

Fund CodesFund Corp Class

CDN$ US$ CDN$ US$Series A Front TML3250 TML3861 TML1022 TML3515Series A DSC TML3252 TML3863 TML1024 TML3517Series A Low Load TML3251 TML3862 TML1023 TML3516Series F TML3253 TML3864 TML1025 TML3518Series F ADM TML5008 TML5032 TML5146 TML5169Series FT TML227 TML3174Series FT ADM TML5049 TML5211Series I (Closed to newinvestors)

TML267 TML3865 TML1026 TML3519

Series O TML170 TML3866 TML1027 TML3520Series OT TML3951 TML3173Series PA Front TML5457 TML5460 TML5445 TML5448Series PA DSC TML5459 TML5462 TML5447 TML5450Series PA Low Load TML5458 TML5461 TML5446 TML5449Series PF TML3877 TML3878 TML3725 TML3726Series PF ADM TML5076 TML5103 TML5187 TML5202Series PFT TML3900 TML3772Series PFT ADM TML5125 TML5217Series PT Front TML5463 TML5451 TML5454Series PT DSC TML5465 TML5453 TML5456Series PT Low Load TML5464 TML5452 TML5455Series T Front TML384 TML3170 TML3595Series T DSC TML385 TML3172 TML3597Series T Low Load TML386 TML3171 TML3596Series V (Closed to newinvestors)

TML3770

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Quotential Diversified Income Benchmark is a blended index

currently composed of the MSCI AC World Index CDN (15%), S&P/TSX CompositeIndex (5%), FTSE Canada Universe Bond Index (55%), and Bloomberg BarclaysMultiverse Index (100% Hedged into CAD) (25%).

3 Target distributions are not guaranteed and may change at the discretion of FranklinTempleton. The fund may also pay capital gains in December if required.

4 Please see detailed definitions at www.franklintempleton.ca/define.

MAXIMUM DIVERSIFICATION FOR INCOME GENERATION• An income solution for all market conditions. With 18 different income sources, the Portfolio is a well-diversified

solution for investors seeking a reliable income stream.• Exposure to domestic and global bonds. This Portfolio offers investors extensive diversification to weather interest rate

movements and take advantage of pricing and yield differentials between government and corporate bond issuers.

PerformanceCalendar Year Returns in Canadian Dollars (%)

8.8

3.3

6.6 5.9 5.43.1

1.83.5

-2.6

7.39.8

4.3

7.7 6.8 6.6

3.9 2.94.5

-1.8

8.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series T Series F

Compounded Returns in Canadian Dollars (%)

YTD 1 Mo 3 Mo 6 Mo 1 Year 3 Years 5 Years 10 years Since Inc^

Series T 2.03 2.03 2.38 2.57 7.23 3.40 2.02 4.41 4.63

Series F‡ 2.13 2.13 2.62 3.06 8.24 4.33 3.00 5.39 5.27^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As

a consequence, the management fee on Series F is lower than on Series A.

Top Holdings (% of Total)Franklin Bissett Canadian Government Bond Fund 29.21

Franklin Bissett Core Plus Bond Fund 24.05

Franklin Liberty Global Aggregate Bond ETF (CAD-Hedged) 9.81

Franklin Bissett Short Duration Bond Fund 6.84

Templeton Global Bond Fund 5.29

Franklin Strategic Income Fund 3.88

Franklin U.S. Core Equity Fund 3.72

Franklin International Core Equity Fund 2.59

Franklin FTSE U.S. Index ETF 2.18

Franklin Emerging Market Core Equity Fund 1.88

Fund FactsPrice per Unit (Series T) $3.08

Portfolio Turnover Rate(06/30/2019)

31.03%

MER (06/30/2019 incl. HST) T: 1.97%F: 1.04%

Management Fee T: 1.65%F: 0.90%

Monthly Distribution Series T 5% target annualdistribution3,4

Composition of FundGeographic Weightings (% of Total)

Canada 65.04United States 8.78EAFE 3.90Emerging Markets 1.88Others 18.98Cash & Cash Equivalents 1.42

Series T Distribution HistoryDate Price Distr. Date Price Distr.03/29/2019 $3.20 $0.01 09/30/2019 $3.20 $0.01

04/30/2019 $3.21 $0.01 10/31/2019 $3.18 $0.01

05/31/2019 $3.20 $0.01 11/29/2019 $3.19 $0.01

06/28/2019 $3.22 $0.01 12/27/2019 $3.18 $0.01

07/31/2019 $3.21 $0.01 12/31/2019 $3.04 $0.13

08/30/2019 $3.22 $0.01 01/31/2020 $3.08 $0.01

Did you know? Flexible Series T units of this Portfolio pay monthly Return of Capital distributions of 0-5% of the final NAV of the previous year and split into 12monthly installments. 5% targeted Series T Return of Capital payout rate may change at the discretion of Franklin Templeton.

3250 FFE 0120

franklintempleton.ca 2Dealer Use Only / Not for Distribution to the Public

Franklin Quotential Balanced Income PortfolioAs of February 1, 2017, all U.S.-dollar denominated series, with the exception of Series T-USD, are closed to new investors.


Fund Overview


Inception Date Series A: 08/19/2002

Series F: 08/19/2002



Benchmark Custom FranklinQuotential BalancedIncome Benchmark2

Investment Objective & StrategyA balance of current income and long-term capitalappreciation by investing in a diversified mix of equity andincome mutual funds, with a bias towards income.

Fund Management



Risk Classification

Low Low toMedium


High


Equity 39.13





Series O TML683 TML3705 TML1033 TML3711Series OT TML3068 TML3178Series PA Front TML5412 TML5415 TML5403 TML5406Series PA DSC TML5414 TML5417 TML5405 TML5408Series PA Low Load TML5413 TML5416 TML5404 TML5407Series PF TML3873 TML3874 TML3784 TML3785Series PF ADM TML5074 TML5101 TML5186 TML5201Series PFT TML3898Series PFT ADM TML5123Series PT Front TML5418 TML5409Series PT DSC TML5420 TML5411Series PT Low Load TML5419 TML5410Series T Front TML690 TML3175Series T DSC TML691 TML3177Series T Low Load TML641 TML3176Series V (Closed to newinvestors)

TML3776

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Quotential Balanced Income Benchmark is a blended index currently

composed of the MSCI AC World Index CDN (30%), S&P/TSX Composite Index (10%),FTSE Canada Universe Bond Index (40%), and Bloomberg Barclays Multiverse Index(100% Hedged into CAD) (20%).


FOR CONSERVATIVE INVESTORS SEEKING PRESERVATION OF CAPITAL• A balanced approach to investing. Franklin Quotential Balanced Income Portfolio is conservatively managed with a

significant weighting in fixed income investments, plus exposure to the growth potential of equities. This combination canhelp minimize the effects of being fully diversified in the equity market, with the potential for long-term capitalappreciation.

• Two-prong global exposure. In addition to its strong Canadian balanced holdings, this Portfolio provides the developedand emerging market global gateway that can take advantage of ever-changing regional opportunities.


8.6

-1.4

5.8

10.06.9

4.71.9

4.7

-3.9

9.09.8

-0.4

7.1

11.28.1

5.83.1

6.0

-2.9

10.2

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.73 1.73 2.86 3.17 8.06 3.79 2.55 4.78 4.62






Franklin Bissett Short Duration Bond Fund 5.13


Templeton Global Bond Fund 4.71


Franklin Bissett Canadian Equity Fund 3.51

Franklin FTSE Canada All Cap Index ETF 3.49


Fund FactsPrice per Unit (Series A) $7.21


30.38%

MER (06/30/2019 incl. HST) A: 2.11%F: 1.01%

Management Fee A: 1.75%F: 0.75%

Monthly Distribution Series T 6% target annualdistribution3




656 FFE 0120


Franklin Quotential Balanced Growth PortfolioAs of February 1, 2017, all U.S.-dollar denominated series, with the exception of Series T-USD, are closed to new investors.


Fund Overview



Series F: 08/19/2002


Morningstar Category TM Global Neutral Balanced

Benchmark Custom FranklinQuotential BalancedGrowth Benchmark2

Investment Objective & StrategyA balance of current income and long-term capitalappreciation by investing in a diversified mix of equity andincome mutual funds, with a bias towards capital appreciation.

Fund Management



Risk Classification

Low Low toMedium


High

Asset Allocation (%)Equity 59.29

Fixed Income 39.77





Series O TML685 TML3857 TML1039 TML3848Series OT TML3069 TML3183Series PA Front TML5394 TML5397 TML5385 TML5388Series PA DSC TML5396 TML5399 TML5387 TML5390Series PA Low Load TML5395 TML5398 TML5386 TML5389Series PF TML3871 TML3872 TML3753 TML3847Series PF ADM TML5073 TML5100 TML5185 TML5200Series PFT TML3923Series PFT ADM TML5122Series PT Front TML5400 TML5391Series PT DSC TML5402 TML5393Series PT Low Load TML5401 TML5392Series T Front TML692 TML3180Series T DSC TML693 TML3182Series T Low Load TML643 TML3181Series V (Closed to newinvestors)

TML3774

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Quotential Balanced Growth Benchmark is a blended index currently

composed of the MSCI AC World Index CDN (45%), S&P/TSX Composite Index (15%),FTSE Canada Universe Bond Index (28%), and Bloomberg Barclays Multiverse Index(100% Hedged into CAD) (12%).

3 Based on AUM.4 Target distributions are not guaranteed and may change at the discretion of Franklin

Templeton. The fund may also pay capital gains in December if required.

FOR INVESTORS SEEKING A SMART, SECURE ASSET MIX TO STEADILY GROW CAPITAL• A balance of growth and income. Franklin Quotential Balanced Growth Portfolio offers a balanced approach to

investing by combining a solid foundation of fixed income investments with a significant weighting in equities. Thisattractive balance helps make it our most popular Franklin Quotential Portfolio.3

• Two-prong global exposure. In addition to its strong Canadian balanced holdings, this Portfolio provides the developedand emerging market global gateway that can take advantage of ever-changing regional opportunities.


9.6

-4.5

6.4

14.9

7.4 5.22.2

6.2

-5.5

11.311.0

-3.5

7.5

16.3

8.56.3

3.57.4

-4.4

12.6

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.44 1.44 3.49 3.92 9.35 4.38 3.02 5.47 4.96










Franklin U.S. Rising Dividends Fund 4.70


Franklin Canadian Core Equity Fund 4.44



41.67%

MER (06/30/2019 incl. HST) A: 2.31%F: 1.22%






658 FFE 0120


Franklin Quotential Growth PortfolioAs of February 1, 2017, all U.S.-dollar denominated series, with the exception of Series T-USD, are closed to new investors.


Fund Overview

Total Net Assets $542,186,6341


Series F: 08/19/2002


Morningstar Category TM Global Equity Balanced

Benchmark Custom FranklinQuotential Growth

Benchmark2

Investment Objective & StrategyLong-term capital appreciation by investing primarily in adiversified mix of equity mutual funds, with additional stabilityderived from investing in income mutual funds.

Fund Management



Risk Classification

Low Low toMedium


High


Fixed Income 19.42



CDN$ US$ CDN$ US$Series A Front TML660 TML662 TML1040 TML1046Series A DSC TML661 TML663 TML1042 TML1048Series A Low Load TML645 TML644 TML1041 TML1047Series F TML672 TML673 TML1043 TML1049Series F ADM TML5010 TML5034 TML5148 TML5171Series FT TML3189Series FT ADM TML5213Series I (Closed to newinvestors)


Series O TML686 TML687 TML1045 TML1051Series OT TML3071Series PA Front TML5481 TML5484 TML5472 TML5475Series PA DSC TML5483 TML5486 TML5474 TML5477Series PA Low Load TML5482 TML5485 TML5473 TML5476Series PF TML3879 TML3880 TML3799 TML3800Series PF ADM TML5078 TML5105 TML5189 TML5204Series PFT TML3901Series PFT ADM TML5126Series PT Front TML5487 TML5478Series PT DSC TML5489 TML5480Series PT Low Load TML5488 TML5479Series T Front TML3053 TML3185Series T DSC TML3055 TML3187Series T Low Load TML3054 TML3186

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Quotential Growth Benchmark is a blended index currently composed

of the MSCI AC World Index CDN (60%), S&P/TSX Composite Index (20%), FTSECanada Universe Bond Index (14%), and Bloomberg Barclays Multiverse Index (100%Hedged into CAD) (6%).


MEDIUM- TO LONG-TERM GROWTH POTENTIAL WITH LESS RISK• Enhanced return potential. By investing in U.S., global and international equities, the Portfolio provides broad exposure

to a wide range of important capital markets, helping to increase return potential.• Long-term growth potential. With an 80% equity weighting and a 20% income weighting range, the Portfolio is

designed for growth-oriented investors who want to maintain some income exposure for additional stability anddiversification.


9.8

-7.6

7.6

19.5

7.6 6.62.1

7.5

-6.8

13.810.9

-6.5

8.7

20.7

8.9 7.83.2

8.7

-5.9

15.1

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.16 1.16 4.13 4.68 10.80 4.96 3.50 6.07 4.69



Top Holdings (% of Total)Franklin U.S. Core Equity Fund 10.13




Franklin Bissett Canadian Government Bond Fund 6.63




Franklin Canadian Core Equity Fund 5.96

iShares Core MSCI EAFE ETF 5.76



59.39%

MER (06/30/2019 incl. HST) A: 2.43%F: 1.34%




United States 36.39Canada 34.76EAFE 15.32Emerging Markets 7.89Others 4.73Cash & Cash Equivalents 0.91


660 FFE 0120


Franklin Quotential Diversified Equity PortfolioAs of February 1, 2017, all U.S.-dollar denominated series, with the exception of Series T-USD, are closed to new investors.


Fund Overview



Series F: 06/09/2003


Morningstar Category TM Global Equity

Benchmark MSCI All Country WorldIndex-NR

Investment Objective & StrategyLong-term capital appreciation by investing primarily in adiversified mix of equity mutual funds.

Fund Management



Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML255 TML324 TML1052 TML1058Series A DSC TML823 TML824 TML1054 TML1060Series A Low Load TML821 TML822 TML1053 TML1059Series F TML844 TML855 TML1055 TML1061Series F ADM TML5007 TML5031 TML5147 TML5170Series FT TML3199Series FT ADM TML5212Series I (Closed to newinvestors)


Series O TML858 TML859 TML1057 TML1063Series OT TML3070 TML3198Series PA Front TML5433 TML5436 TML5421 TML5424Series PA DSC TML5435 TML5438 TML5423 TML5426Series PA Low Load TML5434 TML5437 TML5422 TML5425Series PF TML3875 TML3876 TML3801 TML3802Series PF ADM TML5075 TML5102 TML5188 TML5203Series PFT TML3899Series PFT ADM TML5124Series PT Front TML5439 TML5442 TML5427 TML5430Series PT DSC TML5441 TML5444 TML5429 TML5432Series PT Low Load TML5440 TML5443 TML5428 TML5431Series T Front TML3050 TML3295 TML3195 TML3298Series T DSC TML3052 TML3297 TML3197 TML3300Series T Low Load TML3051 TML3296 TML3196 TML3299

1 Inclusive of trust and corporate class versions where applicable.2 Target distributions are not guaranteed and may change at the discretion of Franklin

Templeton. The fund may also pay capital gains in December if required.

GLOBAL DIVERSIFICATION WITH LONG-TERM GROWTH POTENTIAL• Global diversification. The Portfolio invests in global, international and emerging market equity funds to achieve multi-

level diversification, thereby reducing risks associated with country- and region-specific funds. The Portfolio’s extensivediversification allows investors to participate in growing markets and investment opportunities that may otherwise beoverlooked.

• Correlation identification. Franklin Quotential managers look not only at evolving opportunities but also at how they willcomplement the Portfolio’s overall composition and risk-reward profile.


7.3

-8.3

10.0

28.4

7.7 9.7

0.7

9.6

-7.3

17.9

8.6

-7.3

11.1

30.0

8.9 10.9

1.7

10.9

-6.3

19.2

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.16 1.16 5.37 6.15 14.74 6.64 4.58 7.46 5.73



Top Holdings (% of Total)Franklin U.S. Core Equity Fund 15.64




iShares Core MSCI EAFE ETF 9.12

Franklin U.S. Opportunities Fund 8.83

Franklin LibertyQT U.S. Equity Index ETF 7.79

Franklin FTSE Europe ex U.K. Index ETF 5.29

Franklin Global Growth Fund 5.03

Franklin Emerging Market Core Equity Fund 4.29



80.69%

MER (06/30/2019 incl. HST) A: 2.59%F: 1.50%




United States 56.22EAFE 24.18Emerging Markets 12.27Others 5.03Canada 1.50Cash & Cash Equivalents 0.80


255 FFE 0120


Templeton EAFE Developed Markets Fund

Global & International EquityTempleton January 31, 2020

Fund Overview



Series F: 01/02/1994


Morningstar Category TM International Equity

Benchmark MSCI EAFE Index

Investment Objective & StrategyLong-term capital appreciation by investing primarily in adiversified portfolio of non-North American equities. To meetthis objective, the fund invests in high-quality companies witha value approach—primarily those in developed European andAsian countries.

Fund Management

Tina Sadler 24 Years, Toronto, Canada

Peter Moeschter 27 Years, Nassau, Bahamas

Maarten Bloemen 34 Years, Toronto, Canada

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML224 TML805Series A DSC TML307 TML905Series A Low Load TML599 TML606Series F TML237 TML837Series F ADM TML5017 TML5040Series O TML105 TML144Series PA Front TML5578 TML5581Series PA DSC TML5580 TML5583Series PA Low Load TML5579 TML5582Series PF TML3914 TML3915Series PF ADM TML5088 TML5111

1 Inclusive of trust and corporate class versions where applicable.

REASONS TO INVEST IN THIS FUND:• A good complement to any North American portfolio, for broader international diversification and greater risk-adjusted

return potential.• The fund invests in leading international companies by identifying stocks trading at attractive multiples, relative to

intrinsic value, to achieve higher returns than the broader market.


-4.3-15.2

16.1

34.7

-1.4

18.9

-3.6

11.9

-11.8

5.2

-3.2

-14.2

17.2

36.6

-0.4

20.3

-2.4

13.2

-10.8

6.4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -1.73 -1.73 0.29 2.71 1.15 0.85 1.47 4.21 1.20

Series F‡ -1.63 -1.63 0.58 3.30 2.32 2.01 2.67 5.42 3.48^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% of Total)E.ON SE 3.03

Standard Chartered PLC 2.95

Eni SpA 2.88

BAE Systems PLC 2.83

Veolia Environnement S.A. 2.82

BNP Paribas SA 2.71

Bayer AG 2.66

BP PLC 2.58

Mitsui Fudosan Co., Ltd. 2.56

Vodafone Group PLC 2.54



14.10%

MER (06/30/2019 incl. HST) A: 2.60%F: 1.46%


Composition of FundTop Country Weightings (% of Total)

Japan 18.83United Kingdom 17.26Germany 13.49France 12.99Hong Kong 6.22Switzerland 4.59Netherlands 4.24Italy 3.89Others 9.66Cash & Cash Equivalents 8.84

Top Sector Weightings (% of Total)Health Care 13.28Financials 13.10Energy 12.45Industrials 12.22Communication Services 6.75Consumer Staples 6.53Materials 6.23Consumer Discretionary 6.12Utilities 5.85Real Estate 5.77Information Technology 2.85Cash & Cash Equivalents 8.84

224 FFE 0120


Templeton Emerging Markets Fund

Emerging Markets EquityTempleton January 31, 2020

Fund Overview



Series F: 11/24/2000


Morningstar Category TM Emerging Markets Equity

Benchmark MSCI Emerging MarketsIndex

Investment Objective & StrategyLong-term capital appreciation by investing primarily inequities of companies in emerging markets. The fund may alsoinvest in companies that trade in emerging markets, or thattrade elsewhere in the world and earn at least 50% of theirrevenue from production or sales in emerging markets.

Fund Management

Chetan Sehgal 25 Years, Singapore

Andrew Ness 25 Years, Edinburgh, UnitedKingdom

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML730 TML809 TML340 TML342Series A DSC TML731 TML909 TML341 TML343Series A Low Load TML812 TML739 TML610 TML613Series F TML741 TML751 TML344 TML345Series F ADM TML5018 TML5041 TML5149 TML5172Series I (Closed to newinvestors)

TML789 TML799

Series O TML171 TML179 TML348 TML349Series PA Front TML5590 TML5593 TML5584 TML5587Series PA DSC TML5592 TML5595 TML5586 TML5589Series PA Low Load TML5591 TML5594 TML5585 TML5588Series PF TML3916 TML3917 TML3803 TML3804Series PF ADM TML5089 TML5112 TML5190 TML5205


REASONS TO INVEST IN THIS FUND:• Diversification. An opportunity for investors to achieve greater portfolio diversification by investing in developing markets

and to capitalize on the strong growth potential of these economies.• Management expertise. The research team combines over 43 years of investment experience with in-depth company

research and local presence in regional offices worldwide.


13.3

-19.9

12.3

-2.5

4.2

-6.9

16.8

31.8

-11.0

19.014.5

-19.1

13.5

-1.4

5.4

-5.9

18.1

33.3

-10.1

20.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -2.74 -2.74 5.07 6.21 8.61 9.57 6.42 4.83 6.14



Top Holdings (% of Total)Samsung Electronics Co., Ltd. 8.04

Taiwan Semiconductor Manufacturing Co Ltd 8.01

Tencent Holdings Ltd 6.22

Alibaba Group Holding Ltd 5.58

ICICI Bank Ltd 4.25

Naver Corporation 2.93

Unilever PLC 2.85

Naspers Ltd 2.83

Lukoil PJSC 2.64

Brilliance China Automotive Holdings Ltd 2.42



6.99%

MER (06/30/2019 incl. HST) A: 2.86%F: 1.77%



China 24.71South Korea 16.70Taiwan 10.32Brazil 8.36India 7.93Russia 7.90South Africa 3.43United Kingdom 2.85Others 10.55Cash & Cash Equivalents 7.25

Top Sector Weightings (% of Total)Financials 22.88Information Technology 21.86Consumer Discretionary 16.39Communication Services 13.58Energy 6.17Consumer Staples 4.86Materials 3.47Industrials 1.90Health Care 1.62Cash & Cash Equivalents 7.25

730 FFE 0120


Templeton Global Balanced Fund

Global BalancedTempleton January 31, 2020

Fund Overview


Inception Date Series T: 12/12/2005

Series F: 12/12/2005


Morningstar Category TM Tactical Balanced

Benchmark Blended 50% MSCI AllCountry World Index +

50% Bloomberg BarclaysMultiverse Index

Investment Objective & StrategyCurrent income while maintaining prospects for capitalappreciation by investing primarily in debt and equity securitiesissued around the world.

Fund Management

Michael Hasenstab 25 Years, California, United States

Herbert J Arnett Jr. 25 Years, Nassau, Bahamas

Risk Classification

Low Low toMedium


High

Asset Allocation (% Market Value)2

Equity 64.08

Fixed Income 22.43



CDN$ US$ CDN$ US$Series A Front TML3240 TML3245Series A DSC TML3242 TML3247Series A Low Load TML3241 TML3246Series F TML2039 TML2044Series F ADM TML5019 TML5042Series FT TML3442Series FT ADM TML5051Series I (Closed to newinvestors)

TML3729 TML3730

Series O TML2040 TML2045Series OT TML3952Series PA Front TML5596 TML5599Series PA DSC TML5598 TML5601Series PA Low Load TML5597 TML5600Series PF TML3731 TML3732Series PF ADM TML5090 TML5113Series PFT TML3780Series PFT ADM TML5129Series PT Front TML5602 TML5605Series PT DSC TML5604 TML5607Series PT Low Load TML5603 TML5606Series T Front TML2036 TML2041Series T DSC TML2038 TML2043Series T Low Load TML2037 TML2042Series V (Closed to newinvestors)

TML3778

1 Inclusive of trust and corporate class versions where applicable.2 Market value figures reflect the trading value of the investments, may not total 100%

and may be negative due to rounding, use of any derivatives, unsettled trades or otherfactors.

3 Figures shown for Yield to Maturity, Weighted Average Maturity, Duration, Duration toWorst and Yield to Worst reflect certain derivatives held in the portfolio (or theirunderlying reference assets).

4 Please see detailed definitions on the last page.5 Target distributions are not guaranteed and may change at the discretion of Franklin

Templeton. The fund may also pay capital gains in December if required.6 Sources: S&P and Moody’s. Cash and equivalents are excluded from this breakdown.

REASONS TO INVEST IN THIS FUND:• A balanced asset mix. The fund offers a global exposure to equity and fixed income around the world by investing in

securities of companies from a variety of industries such as utilities, oil, gas and consumer goods, located anywhere inthe world, including emerging markets.

• A global perspective. Templeton Global Balanced Fund’s perspective offers a broad selection of investmentopportunities and enhanced return potential, while lowering volatility and providing consistent performance.

• Available in Flexible Series T. Investors seeking consistent cash flow can benefit from monthly, tax-efficient Return ofCapital payments tailored to suit their needs.


7.2

-3.6

12.5

20.3

5.0

12.1

0.95.1

-3.4

0.6

8.3

-2.5

13.8

21.6

6.3

13.4

2.16.2

-2.3

1.8

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series T Series F



Series T -1.57 -1.57 0.06 -0.88 -2.00 0.35 1.13 5.45 4.39

Series F‡ -1.48 -1.48 0.33 -0.34 -0.94 1.48 2.28 6.63 5.54^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% Market Value)2

Bayer AG 2.34

Kirin Holdings Company, Limited 2.23

E.ON SE 2.20


Allergan PLC 2.15

Deutsche Telekom AG 2.08

BP PLC 2.08

CK Hutchison Holdings Ltd 1.93

Samsung Electronics Co., Ltd. 1.91

Merck KGaA 1.83

Fund Facts3

Price per Unit (Series T) $5.66

Yield to Maturity4 3.95%

Average Weighted Maturity 1.9 Years

Average Duration 0.0 Years

Duration to Worst 0.0 Years


17.10%

MER (06/30/2019 incl. HST) T: 2.31%F: 1.21%

Management Fee T: 1.85%F: 0.85%

Weighted Yield 3.89%

Yield to Worst4 3.95%


Composition of FundTop Country Weightings (% Market Value)2

United States 15.49United Kingdom 11.11Germany 10.65Japan 9.60South Korea 9.57France 5.22Netherlands 4.36Mexico 3.98Brazil 3.88Norway 3.53

Bond Ratings (% Fixed Income Market Value)2,6

AAA 9.37 B 6.15AA 17.22 CCC 5.22A 25.50 NR 0.00BBB 25.50 N/A -2.21BB 13.24

Series T Distribution HistoryDate Price Distr. Date Price Distr.03/29/2019 $6.32 $0.03 09/30/2019 $5.92 $0.03

04/30/2019 $6.42 $0.03 10/31/2019 $5.91 $0.03

05/31/2019 $6.04 $0.03 11/29/2019 $5.95 $0.03

06/28/2019 $6.11 $0.03 12/19/2019 $5.82 $0.17

07/31/2019 $6.07 $0.03 12/27/2019 $5.82 $0.03

08/30/2019 $5.80 $0.03 01/31/2020 $5.66 $0.03

Top Sector Weightings (% Equity Market Value)Financials 18.48Communication Services 17.69Health Care 16.87Energy 11.92Consumer Staples 8.23Information Technology 7.98Industrials 7.07Utilities 5.88Consumer Discretionary 2.85Materials 1.71Real Estate 1.32

Did you know? The Series T version of this Fund pays monthly distributions, calculated as 6% of the final NAV of the previous year and split into 12 monthlyinstallments. 6% targeted Series T Return of Capital payout rate may change at the discretion of Franklin Templeton.

3240 FFE 0120


Templeton Global Bond Fund

Global Fixed IncomeTempleton January 31, 2020

Fund Overview



Series F: 06/18/2001


Morningstar Category TM Global Fixed Income

Benchmark JP Morgan GlobalGovernment Bond Index

Investment Objective & StrategyHigh current income with capital appreciation by investingprimarily in fixed income securities and preferred shares issuedaround the world. The fund may not invest more than 25% ofthe total value of the invested assets (excluding cash) in aparticular industry.

Fund Management


Calvin Ho 15 Years, California, United States

Risk Classification

Low Low toMedium


High


CDN$ US$ CDN$ US$Series A Front TML704 TML803Series A DSC TML734 TML903Series A Low Load TML674 TML684Series F TML257 TML258Series F ADM TML5020 TML5043Series I (Closed to newinvestors)

TML254 TML256

Series O TML259 TML260Series PA Front TML5608 TML5611Series PA DSC TML5610 TML5613Series PA Low Load TML5609 TML5612Series PF TML3727 TML3728Series PF ADM TML5091 TML5114

1 Inclusive of trust and corporate class versions where applicable.2 Figures shown for Yield to Maturity, Weighted Average Maturity, Duration, Duration to

Worst and Yield to Worst reflect certain derivatives held in the portfolio (or theirunderlying reference assets).

3 Please see detailed definitions on the last page.4 The fund may also pay capital gains in December if required.5 Please note that the definition of cash in this document may not match the definition

of “cash and cash equivalents” listed in the fund facts or management reports of fundperformance for the fund, which includes bonds that have a remaining term tomaturity of 365 days or less that are issued by certain governments, supranationalagencies or financial institutions and have a “designated rating” (as defined inCanadian securities law). As such, the cash amounts listed may differ.

6 Notional exposure figures are intended to estimate the portfolio’s exposure, includingany hedged or increased exposure through certain derivatives held in the portfolio (ortheir underlying reference assets). Market value figures reflect the trading value of theinvestments. Notional and market value figures may not total 100% and may benegative due to rounding, use of any derivatives, unsettled trades or other factors.

7 Sources: S&P and Moody’s. Ratings apply to bond holdings only. Cash includesequivalents, which may be rated.

REASONS TO INVEST IN THIS FUND:• Diversification. Ideal for investors seeking an unconstrained worldview independent from the benchmark, allowing the

fund to invest in bonds from any country, in any currency, and with the goal of finding the best values for the portfolio.• Multiple perspectives. Global and local experts gather customized knowledge to the fund by providing extensive

country analysis and multiple perspectives and lenses.• Experienced management. Dr. Michael Hasenstab has managed the fund since 2005 and is backed by a large and

experienced team of Global Macro analysts located around the world.


8.3

0.6

7.7

2.6 3.2

6.6

-1.7

0.7

4.6

-5.7

8.8

1.2

8.3

3.2 4.3

7.3

-1.0

1.3

5.2

-5.1

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 0.20 0.20 0.43 -3.55 -4.29 0.09 -0.39 2.45 4.76

Series F‡ 0.24 0.24 0.57 -3.28 -3.76 0.67 0.19 3.09 4.81^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Fund Facts2

Price per Unit (Series A) $7.86


Average Weighted Maturity3 1.6 Years

Average Duration -0.1 Years

Duration to Worst -0.1 Years


8.64%

MER (06/30/2019 incl. HST) A: 1.65%F: 1.09%



Distributions Interest income paidmonthly4

Composition of FundTop Country Weightings (% Market Value)5,6

Indonesia 10.43Japan 10.00India 9.99South Korea 9.76Mexico 9.36Brazil 9.32Norway 7.53Ghana 2.48Others 2.57Cash & Cash Equivalents 28.57

Bond Ratings (% Market Value)6,7

AAA 7.70 B 2.48AA 9.76 CCC 2.33A 18.75 N/A -2.23

BBB 23.33Cash & CashEquivalents 28.57

BB 9.32

Series A Distribution HistoryDate Price Distr. Date Price Distr.12/20/2018 $8.43 $0.28 06/28/2019 $8.18 $0.07

01/31/2019 $8.43 $0.02 07/31/2019 $8.21 $0.02

02/28/2019 $8.40 $0.02 08/30/2019 $7.87 $0.02

03/29/2019 $8.36 $0.02 09/30/2019 $7.82 $0.02

04/30/2019 $8.42 $0.02 10/31/2019 $7.84 $0.02

05/31/2019 $8.33 $0.02 01/31/2020 $7.86 $0.02

Duration Exposure (% Notional Value)6

0 to 1 Year 56.271 to 2 Years 16.452 to 3 Years 9.713 to 5 Years 20.765 to 7 Years 4.927 to 10 Years 0.0020 to 30 Years -8.10

Effective January 31, 2018, the monthly distribution paid by Templeton Global Bond Fund will be $0.016 per unit of Series A. However, the monthly rate may betopped up on a quarterly basis, to the extent there is sufficient taxable income in the fund. Distributions paid by other series will be pro-rated to the fund's SeriesA distribution amount. To calculate US-dollar-denominated distribution amounts, apply the exchange rate between the Canadian dollar and the US dollar as ofeach distribution date. Actual distribution amounts may differ. Distributions are not guaranteed and the proportion of income and return of capital will fluctuatedepending on fund returns. Unlike fixed income securities, there is no obligation to distribute any fixed amount, and reductions in yield or suspensions that wouldreduce yield may occur.

704 FFE 0120


Templeton Global Bond Fund (Hedged)

Global Fixed IncomeTempleton January 31, 2020

Fund Overview



Series F: 08/19/2013

Number of Holdings1 83


Benchmark JP Morgan GlobalGovernment Bond Index

(USD)

Investment Objective & StrategyHigh current income with capital appreciation by investingsubstantially all of its assets in units of Templeton Global BondFund (the “underlying fund”). The fund uses hedging strategiesto attempt to eliminate the impact of currency fluctuationsbetween the U.S. and Canadian dollars.

Fund Management


Calvin Ho 15 Years, California, United States

Risk Classification

Low Low toMedium


High


CDN$ US$ CDN$ US$Series A Front TML3712Series A DSC TML3714Series A Low Load TML3713Series F TML3715Series F ADM TML5021Series I (Closed to newinvestors)

TML3716

Series O TML3717Series PA (Hedged) Front TML5614Series PA (Hedged) DSC TML5616Series PA (Hedged) Low Load TML5615Series PF TML3808Series PF ADM TML5092

1 The Fund’s performance is linked to the performance of units invested in TempletonGlobal Bond Fund (the Underlying Fund). The holdings listed are an outline of theinvestments held in the Underlying Fund. The Fund holds forward contracts to hedgeas completely as possible against fluctuations caused by changes in exchange ratesbetween the U.S. and Canadian dollars.


3 Please see detailed definitions on the last page.4 The fund may also pay capital gains in December if required.5 Please note that the definition of cash in this document may not match the definition

of “cash and cash equivalents” listed in the fund facts or management reports of fundperformance for the fund, which includes bonds that have a remaining term tomaturity of 365 days or less that are issued by certain governments, supranationalagencies or financial institutions and have a “designated rating” (as defined inCanadian securities law). As such, the cash amounts listed may differ.


7 Sources: S&P and Moody’s. Ratings apply to bond holdings only. Cash includesequivalents, which may be rated.

REASONS TO INVEST IN THIS FUND:• Diversification. Offers exposure to an unconstrained worldview independent from the benchmark used by the underlying

fund to invest in bonds from any country, in any currency, and with the goal of finding the best values.• Multiple perspectives. Global and local experts provide extensive country analysis and multiple perspectives and lenses.• Experienced management. Dr. Michael Hasenstab has managed the underlying fund since 2005 and is backed by a

large and experienced team of Global Macro analysts located around the world.• Reduced currency risk. The fund uses hedging strategies to reduce the impact of currency fluctuations between the

U.S. and Canadian dollars.


-4.9

-10.0

0.5

6.4

-4.3-1.9

-3.7

-9.4

0.9

7.0

-3.7-1.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F

Compounded Returns in Canadian Dollars (%)1


Series A -1.63 -1.63 -0.14 -4.16 -5.84 -1.27 -1.83 n/a -2.23

Series F‡ -1.58 -1.58 0.01 -3.88 -5.29 -0.71 -1.26 n/a -1.59^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Fund Facts1,2




Average Duration -0.1 Years

Duration to Worst -0.1 Years


38.89%

MER (06/30/2019 incl. HST) A: 1.67%F: 1.09%



Distributions Interest income paidquarterly4

Composition of FundTop Country Weightings (% of Total)1,5,6

Indonesia 10.43Japan 10.00India 9.99South Korea 9.76Mexico 9.36Brazil 9.32Norway 7.53Ghana 2.48Others 2.57Cash & Cash Equivalents 28.57

Bond Ratings (% Market Value)1,6,7

AAA 7.70 B 2.48AA 9.76 CCC 2.33A 18.75 N/A -2.23

BBB 23.33Cash & CashEquivalents 28.57

BB 9.32

Duration Exposure (% Notional Value)6

0 to 1 Year 56.271 to 2 Years 16.452 to 3 Years 9.713 to 5 Years 20.765 to 7 Years 4.927 to 10 Years 0.0020 to 30 Years -8.10

3712 FFE 0120


Templeton Global Smaller Companies Fund


Fund Overview



Series F: 11/24/2000


Morningstar Category TM Global Small/Mid CapEquity

Benchmark Custom TempletonGlobal Smaller

Companies Benchmark2

Investment Objective & StrategyLong-term capital appreciation by investing primarily insecurities of smaller companies around the world. Smallercompanies are those similar in size to the companies in theMSCI All Country World (ACWI) Small Cap Index, at the time ofinitial purchase.

Fund Management

Harlan Hodes 20 Years, Florida, United States

David Tuttle 15 Years, Toronto, Canada

Risk Classification

Low Low toMedium


High






Series O TML169 TML178 TML338 TML339Series PA Front TML5623 TML5626 TML5617 TML5620Series PA DSC TML5625 TML5628 TML5619 TML5622Series PA Low Load TML5624 TML5627 TML5618 TML5621Series PF TML3918 TML3919Series PF ADM TML5093 TML5115

1 Inclusive of trust and corporate class versions where applicable.2 Custom Templeton Global Smaller Companies Benchmark is a blended index

composed of the MSCI All Country World Small Cap Total Return Index and MSCIWorld Total Return Index. The customized index reflects the returns of the MSCI AllCountry World Small Cap Total Return Index on and after May 31, 1994, and the MSCIWorld Total Return Index prior to May 31, 1994.

REASONS TO INVEST IN THIS FUND:• Investing early in tomorrow’s leading companies. Ideal for investors seeking diversification by country and sector with

small-cap stocks from around the globe, making it a great source of global diversification for your portfolio.• Not your typical small-cap fund. The fund follows a proven disciplined value approach that was pioneered by Sir John

Templeton more than 60 years ago.


18.1

-22.9

11.5

32.7

0.0

7.2 7.516.3

-13.3

15.219.4

-21.9

12.8

34.3

1.18.4 8.7

17.5

-12.3

16.5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -2.56 -2.56 2.45 4.70 7.55 4.47 4.50 6.00 7.58



Top Holdings (% of Total)OneSpaWorld Holdings Limited 2.02

Alamo Group Inc 2.01

Techtronic Industries Company Limited 2.01

AllianceBernstein Holding LP 2.01

Thule Group AB/The 2.01

Huhtamaki OYJ 1.96

Technogym SPA 1.96

Freshpet, Inc. 1.95

Columbia Sportswear Co 1.84

Tsumura & Co 1.72



8.72%

MER (06/30/2019 incl. HST) A: 2.62%F: 1.51%



United States 29.51Japan 12.98Taiwan 6.52United Kingdom 5.38Sweden 4.72Germany 4.71Italy 4.61Switzerland 4.19Others 23.20Cash & Cash Equivalents 4.19

Top Sector Weightings (% of Total)Consumer Discretionary 25.63Industrials 21.53Financials 13.02Materials 9.88Information Technology 9.76Consumer Staples 6.97Health Care 5.61Real Estate 3.41Cash & Cash Equivalents 4.19

707 FFE 0120


Templeton Growth Fund, Ltd.


Fund Overview



Series F: 11/24/2000



Benchmark MSCI All Country WorldIndex

Investment Objective & StrategyLong-term capital appreciation by investing primarily in equitysecurities of companies around the world and fixed-incomesecurities issued by governments or companies of anycountry. The fund may invest, in any country or industry, in anyproportion. The fund's Series A (Hedged) seeks to minimizethe impact of currency fluctuations.

Fund Management


Christopher James Peel 12 Years, Nassau, Bahamas

Warren Pustam 14 Years, Nassau, Bahamas

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML700 TML702 TML350 TML351Series A DSC TML732 TML102 TML352 TML353Series A Low Load TML648 TML649 TML614 TML615Series A (Hedged) Front TML3623Series A (Hedged) DSC TML3625Series A (Hedged) Low Load TML3624Series F TML740 TML750 TML354 TML355Series F ADM TML5023 TML5045 TML5151 TML5174Series I (Closed to newinvestors)


Series O TML165 TML175 TML358 TML359Series PA Front TML5635 TML5638 TML5629 TML5632Series PA DSC TML5637 TML5640 TML5631 TML5634Series PA Low Load TML5636 TML5639 TML5630 TML5633Series PA (Hedged) Front TML5641Series PA (Hedged) DSC TML5643Series PA (Hedged) Low Load TML5642Series PF TML3817 TML3818 TML3754 TML3755Series PF ADM TML5094 TML5116 TML5191 TML5206


REASONS TO INVEST IN THIS FUND:• Global bias. Ideal for investors seeking a global investment solution for their portfolio, with a strong long-term

performance record backed by time-tested research discipline.• A team approach to value investing. Templeton’s large global research team is on the ground uncovering the best

undervalued opportunities around the world.


2.8

-5.0

14.3

35.7

9.0 11.23.1

11.6

-8.0

7.73.9

-4.2

15.8

37.0

10.3 12.44.1

12.8

-6.9

8.9

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -1.73 -1.73 2.25 4.33 2.47 2.85 3.22 7.78 11.31



Top Holdings (% of Total)Comcast Corp 3.06

Roche Holding AG 3.01

Wheaton Precious Metals Corp. 2.74

BNP Paribas SA 2.74

ING Group NV 2.72

Kellogg Company 2.56

Barrick Gold Corp 2.55

Sanofi 2.45

Siemens AG 2.45

Seven & I Holdings Co Ltd 2.38



17.95%

MER (10/31/2019 incl. HST) A: 2.47%F: 1.37%



United States 28.07Japan 11.90United Kingdom 10.85France 7.48Germany 6.75Canada 5.29Switzerland 5.27Hong Kong 4.24Others 13.53Cash & Cash Equivalents 6.62

Top Sector Weightings (% of Total)Consumer Staples 14.01Health Care 13.77Financials 12.97Communication Services 9.28Energy 9.04Industrials 8.39Information Technology 6.39Materials 6.23Consumer Discretionary 5.52Utilities 3.90Real Estate 3.89Cash & Cash Equivalents 6.62

700 FFE 0120


Templeton International Stock Fund


Fund Overview



Series F: 11/24/2000


Morningstar Category TM International Equity

Benchmark MSCI EAFE Index

Investment Objective & StrategyLong-term capital appreciation by investing primarily in equitysecurities of companies outside Canada and the U.S., in anynumber of companies from one country or industry.

Fund Management


Christopher James Peel 12 Years, Nassau, Bahamas

Risk Classification

Low Low toMedium


High






Series O TML167 TML177 TML368 TML369Series PA Front TML5653 TML5656 TML5644 TML5647Series PA DSC TML5655 TML5658 TML5646 TML5649Series PA Low Load TML5654 TML5657 TML5645 TML5648Series PF TML3920 TML3921 TML3813 TML3814Series PF ADM TML5095 TML5117 TML5192 TML5207Series PFT TML3922Series PFT ADM TML5130Series PT Front TML5659 TML5650Series PT DSC TML5661 TML5652Series PT Low Load TML5660 TML5651Series T Front TML770 TML3164Series T DSC TML771 TML3166Series T Low Load TML748 TML3165


REASONS TO INVEST IN THIS FUND:• A long history of successful fundamental stock selection. Ideal for investors seeking exposure to long-term investing

across international markets, concentrating on high-conviction names filtered through a disciplined research process.• Bottom-up stock selection. Investment philosophy involves finding long-term value investing using a "bottom-up"

approach to stock selection by looking for individual companies offering the best value—that is, stocks selling at pricesthat are low compared to Templeton’s assessment of their true worth.


0.4

-11.8

13.9

25.6

0.7

14.8

-5.5

12.5

-11.2

7.11.4

-10.8

15.1

27.0

1.8

16.1

-4.5

13.7

-10.2

8.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -3.08 -3.08 0.58 3.65 1.24 1.39 0.40 4.06 5.57



Top Holdings (% of Total)Samsung Electronics Co., Ltd. 3.57

BNP Paribas SA 2.88

KB Financial Group Inc. 2.85

ING Group NV 2.84

CK Hutchison Holdings Ltd 2.75

Bayer AG 2.70

BP PLC 2.69

E.ON SE 2.63

Takeda Pharmaceutical Co Ltd 2.60




12.14%

MER (06/30/2019 incl. HST) A: 2.59%F: 1.48%



Japan 18.21United Kingdom 13.10France 10.71South Korea 9.45Germany 9.28Netherlands 7.08Hong Kong 5.61Italy 2.94Others 16.27Cash & Cash Equivalents 7.35

Top Sector Weightings (% of Total)Financials 17.57Energy 13.20Health Care 10.02Information Technology 8.15Industrials 7.74Communication Services 7.64Consumer Discretionary 6.93Consumer Staples 6.64Materials 5.13Real Estate 4.93Utilities 4.70Cash & Cash Equivalents 7.35


735 FFE 0120


Franklin Global Growth Fund

Global & International EquityFranklin January 31, 2020

Fund Overview



Series F: 06/20/2011



Benchmark MSCI World Index-NR2

Investment Objective & StrategyLong-term capital appreciation by investing primarily in equitysecurities of growth companies, with any market sizecapitalization, located throughout the world.

Fund Management

Don Huber 38 Years, New York, United States

John Remmert 33 Years, New York, United States

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML3501 TML3511 TML955 TML957Series A DSC TML3503 TML3513 TML956 TML958Series A Low Load TML3502 TML3512 TML790 TML791Series F TML3504 TML3514 TML959 TML960Series F ADM TML5000 TML5025 TML5141 TML5164Series O TML3126 TML3293 TML963 TML964Series PA Front TML5334 TML5337 TML5325 TML5328Series PA DSC TML5336 TML5339 TML5327 TML5330Series PA Low Load TML5335 TML5338 TML5326 TML5329Series PF TML3912 TML3913Series PF ADM TML5068 TML5096Series PT Front TML5340 TML5331Series PT DSC TML5342 TML5333Series PT Low Load TML5341 TML5332Series T Front TML3505 TML3508Series T DSC TML3507 TML3510Series T Low Load TML3506 TML3509

1 Inclusive of trust and corporate class versions where applicable.2 Net Returns (NR) include income net of tax withholding when dividends are paid.

REASONS TO INVEST IN THIS FUND:• Growth approach to stock selection. Ideal for investors seeking exposure to a strict bottom-up approach, identifying

global themes, sectors and companies to target firms whose growth prospects have yet to be recognized by the markets.• Growth potential. Franklin equity portfolios are built around solid companies with sustainable competitive advantages

that can signal exceptional growth potential.• Global perspective. The underlying fund invests primarily in equity securities of growth companies with any market

capitalization located throughout the world.


17.824.1

11.6 15.3

-4.3

22.9

-5.0

28.919.1

25.6

12.9 16.6

-3.3

24.3

-3.9

30.4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 3.54 3.54 11.96 11.18 26.16 15.17 10.31 n/a 11.22

Series F‡ 3.65 3.65 12.28 11.88 27.66 16.47 11.55 n/a 12.47^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% of Total)Visa Inc. 3.48

Umicore SA 3.43

TAL Education Group 3.28

Floor & Decor Holdings Inc. 3.24

Costar Group Inc 3.14

Aspen Technology Inc 3.12

SGS SA 3.04

Salesforce.com, Inc. 3.03

HDFC Bank Limited 3.01

Zscaler Inc. 2.95



29.23%

MER (06/30/2019 incl. HST) A: 2.58%F: 1.47%



United States 61.41Switzerland 5.84Australia 5.67Belgium 5.55China 3.28India 3.01Argentina 2.90Canada 2.85Others 5.05Cash & Cash Equivalents 4.44

Top Sector Weightings (% of Total)Information Technology 24.15Consumer Discretionary 19.64Financials 15.84Industrials 13.92Health Care 13.33Materials 6.10Real Estate 2.58Cash & Cash Equivalents 4.44

3501 FFE 0120


Franklin High Income FundAs of February 1, 2017, all U.S.-dollar denominated series of this fund are closed to new investors.

Global Fixed IncomeFranklin January 31, 2020

Fund Overview



Series F: 02/17/2003


Morningstar Category TM High Yield Fixed Income

Benchmark Custom Franklin HighIncome 75%

Hedged/25% UnhedgedBenchmark2

Investment Objective & StrategyHigh current income and some long-term capital appreciationby investing primarily in high-yield, lower-rated debt securitiesissued in the United States and throughout the world.

Fund Management

Glenn Voyles 27 Years, California, United States

Darcy Briggs 26 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High


Fixed Income 94.31


Equity 0.72


CDN$ US$ CDN$ US$Series A Front TML186 TML187Series A DSC TML188 TML189Series A Low Load TML190 TML191Series F TML228 TML262Series I (Closed to newinvestors)

TML3380 TML3381

Series O TML172 TML149Series PA Front TML5349 TML5352Series PA DSC TML5351 TML5354Series PA Low Load TML5350 TML5353Series PF TML3810 TML3811

1 Inclusive of trust and corporate class versions where applicable.2 The Custom Franklin High Income 75% Hedged / 25% Unhedged Benchmark is

comprised of 75% Bloomberg Barclays U.S. High Yield Corporate Total Return IndexHedged (CAD) and 25% Bloomberg Barclays U.S. High Yield Corporate Total ReturnIndex Unhedged (CAD).

3 Market value figures reflect the trading value of the investments, may not total 100%and may be negative due to rounding, use of any derivatives, unsettled trades or otherfactors.



6 Please see detailed definitions on the last page.7 Uses effective duration for MBS/ABS securities, uses 90-day average reset period

assumed for all bank loans and for duration of bank loans and uses zero duration forcertain convertible preferred stock.

8 The fund may also pay capital gains in December if required.9 Sources: S&P and Moody’s. Cash includes equivalents, which may be rated.10 Includes issues in default as well as issues which have missed payments but may not

be in technical default. May not include other issues for which interest receivableshave been reversed but have not yet missed coupon/principal payments or filed forbankruptcy.

11 May include currency forwards and common/warrants.

REASONS TO INVEST IN THIS FUND:• A source of fixed income portfolio diversification. High-yield bond funds tend to have low correlations with other asset

classes, improving portfolio efficiency.• Breadth of research. The fund is supported by a team of high-yield specialists, and further leverages the expertise of

more than 170 investment professionals from Franklin Templeton Fixed Income.• Active currency management. The fund's target ratio for its US dollar exposure is 75% hedged to 25% unhedged. The

unhedged portion can range from 0% to 50%, depending on the fund managers' currency views.


10.8

3.0

13.77.5

-0.9

-11.1

16.8

4.7

-5.4

11.111.9

4.0

15.3

8.7

0.2

-10.6

17.6

5.1

-4.8

11.7

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 0.24 0.24 1.93 2.32 7.28 2.83 2.70 4.62 3.27



Top Holdings (% Market Value)Sprint Corporation 2.15

Cheniere Energy Partners, LP 2.07

HCA Inc 1.55

Altice Luxembourg S.A. 1.55

TransDigm Group Incorporated 1.45

Vertiv Group Corp 1.45

Springleaf Finance Corp 1.44

Centene Corporation 1.42

Cco Hldgs LLC/Cap Corp 1.42

Alliant Hold / Co-Issuer 1.41

Fund Facts5





Duration to Worst7 3.1 Years


19.98%

MER (06/30/2019 incl. HST) A: 1.62%F: 1.07%





United States 83.06Canada 4.06Netherlands 2.10Luxembourg 1.56Macao 1.42United Arab Emirates 1.38United Kingdom 0.75Australia 0.71Cash & Cash Equivalents 4.97

Bond Ratings (% Notional Value)4,9

BBB 1.38 D10 0.00

BB 33.99 NR11 0.45B 42.55 N/A 0.70

CCC10 15.96Cash & CashEquivalents 4.97


03/29/2019 $5.43 $0.02 09/30/2019 $5.44 $0.02

04/30/2019 $5.49 $0.02 10/31/2019 $5.40 $0.02

05/31/2019 $5.39 $0.02 11/29/2019 $5.39 $0.02

06/28/2019 $5.42 $0.02 12/19/2019 $5.41 $0.07

07/31/2019 $5.44 $0.02 01/31/2020 $5.40 $0.02

186 FFE 0120


Franklin Strategic Income FundAs of February 1, 2017, all U.S.-dollar denominated series of this fund are closed to new investors.

Global Fixed IncomeFranklin January 31, 2020

Fund Overview



Series F: 02/17/2003



Benchmark Bloomberg Barclays U.S.Aggregate Index (Hedged

to CAD)

Investment Objective & StrategyHigh current income and some long-term capital appreciationby investing primarily in fixed income securities issued in theU.S. and throughout the world.

Fund Management

Sonal Desai 26 Years, California, United States


William Chong 11 Years, California, United States

Patricia O'Connor 24 Years, California, United States

David Yuen 32 Years, California, United States

Risk Classification

Low Low toMedium


High



TML3382 TML3383

Series O TML173 TML174Series PA Front TML5496 TML5499Series PA DSC TML5498 TML5697Series PA Low Load TML5497 TML5500Series PF TML3805 TML3806Series PF ADM TML5079 TML5106

1 Inclusive of trust and corporate class versions where applicable.2 Figures shown for Yield to Maturity, Weighted Average Maturity, Duration, Duration to

Worst and Yield to Worst reflect certain derivatives held in the portfolio (or theirunderlying reference assets).

3 Please see detailed definitions on the last page.4 Uses effective duration for mortgages/asset-backed securities, uses 90 days average

reset period assumed for all bank loans and for duration of bank loans; and excludesduration for certain convertible/preferred stock. Duration for certain hybrid securitiescalculated to the first call and/ or fixed to floating coupon date.

5 The Fund may also pay capital gains in December if required.6 Notional exposure figures are intended to estimate the portfolio’s exposure, including

any hedged or increased exposure through certain derivatives held in the portfolio (ortheir underlying reference assets). Market value figures reflect the trading value of theinvestments. Notional and market value figures may not total 100% and may benegative due to rounding, use of any derivatives, unsettled trades or other factors.

7 First call/fixed-to-floating date used as maturity date for certain perpetual hybridsecurities.

8 Includes gains/losses on forward currency contracts.9 Sources: S&P and Moody’s. Cash includes equivalents, which may be rated.

REASONS TO INVEST IN THIS FUND:• Diversification creates opportunities. The fund offers Ideal for investors seeking the potential for more consistent

returns by taking advantage of the performances of many different bond categories in the United States and throughoutthe world.

• Breadth of research. The fund is supported by more than 170 investment professionals from Franklin Templeton's fixed-income team.

• Currency management. The fund typically engages in currency management strategies to hedge the exposure to theimpact of changes in currency exchange rates.


9.9

1.8

11.7

2.4 1.0

-4.1

5.02.7

-4.2

6.6

11.3

2.8

12.6

3.4 1.8

-3.6

5.63.1

-3.6

7.2

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.19 1.19 1.90 2.00 5.54 1.86 1.20 3.16 2.14



Fund Facts2





Duration to Worst4 4.1 Years


84.87%

MER (06/30/2019 incl. HST) A: 1.60%F: 1.04%





United States 73.76Canada 10.14Australia 3.50China 2.92Italy 2.58Mexico 1.60Colombia 1.36Indonesia 1.26Others 13.19Cash & Cash Equivalents 3.71


03/29/2019 $5.22 $0.02 09/30/2019 $5.21 $0.02

04/30/2019 $5.24 $0.02 10/31/2019 $5.18 $0.02

05/31/2019 $5.21 $0.02 11/29/2019 $5.17 $0.02

06/28/2019 $5.24 $0.02 12/19/2019 $5.19 $0.00

07/31/2019 $5.23 $0.02 01/31/2020 $5.25 $0.02

Top Sector Exposures (% Notional Value)6

Non-US Developed Bonds 12.65Non-Local Currency Emerging Market Bonds 12.27

Investment Grade Corporates7 11.25Residential Mortgage-Backed Securities 11.17High Yield Corporates 10.55Agency Mortgage-Backed Securities 9.60Collateralized Loan Obligation 9.22Bank Loans 8.64Other 24.90Currency Derivatives 0.06

Cash & Cash Equivalents8 3.71

Bond Ratings (% Notional Value)6,9

AAA 34.50 CCC 3.14AA 7.59 C 0.16A 11.83 D 0.01BBB 24.13 NR 2.15BB 7.16 N/A 0.39

B 13.48Cash & CashEquivalents 3.71

387 FFE 0120


Franklin U.S. Monthly Income Fund

Global BalancedFranklin January 31, 2020

Fund Overview



Series F: 06/19/2013



Benchmark Blended 50% MSCI USAHigh Dividend Yield Index

+ 25% BloombergBarclays High Yield Very

Liquid Index + 25%Bloomberg Barclays US

Aggregate Index

Investment Objective & StrategyMaximize income while maintaining prospects for long-termcapital appreciation by investing primarily in a diversifiedportfolio of dividend-paying stocks, bonds and convertiblesecurities issued in the U.S.

Fund Management

Edward D. Perks 27 Years, California, United States

Risk Classification

Low Low toMedium


High


Fixed Income 47.93

Equity 41.26


Convertibles 3.78



TML3644 TML3655 TML3666 TML3677

Series O TML3645 TML3656 TML3667 TML3678Series OT TML3646 TML3668Series PA Front TML5517 TML5520 TML5505 TML5508Series PA DSC TML5519 TML5522 TML5507 TML5510Series PA Low Load TML5518 TML5521 TML5506 TML5509Series PF TML3904 TML3905 TML3782 TML3783Series PF ADM TML5082 TML5108 TML5195 TML5208Series PFT TML3906Series PFT ADM TML5127Series PT Front TML5523 TML5526 TML5511 TML5514Series PT DSC TML5525 TML5528 TML5513 TML5516Series PT Low Load TML5524 TML5527 TML5512 TML5515Series T Front TML3648 TML3659 TML3670 TML3681Series T DSC TML3650 TML3661 TML3672 TML3683Series T Low Load TML3649 TML3660 TML3671 TML3682



3 Please see detailed definitions on the last page.4 The fund may also pay capital gains in December if required.5 Sources: S&P and Moody’s. Cash and equivalents are excluded from this breakdown.

REASONS TO INVEST IN THIS FUND:• Flexible and opportunistic investment approach. The fund sets no formal targets with respect to its equity and fixed

income allocation and looks opportunistically across the capital structure to focus on investment opportunities that offerthe most compelling risk-reward profiles.

• A strategic approach to income. The fund is structured to generate income while maintaining the prospect for long-termcapital gain by investing strategically in dividend-paying stocks, bonds and convertible securities.

• Experienced management team. Having joined Franklin Templeton in 1992, Ed Perks, CFA, has been the lead portfoliomanager of the strategy since 2004.


14.511.3 11.5

0.6 2.5

8.5

15.812.5 12.8

1.7 3.7

9.6

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 0.33 0.33 2.18 3.07 7.91 4.71 5.13 n/a 8.46

Series F‡ 0.42 0.42 2.47 3.66 9.12 5.89 6.32 n/a 9.66^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As



Government of The United States of America 10.17

Community Health Systems Inc 4.98

Government National Mortgage Association 3.16

JPMorgan Chase & Co. 2.49

Tenet Healthcare Corp 2.44

Bank of America Corp. 2.39

Sprint Corporation 2.39

Wells Fargo & Company 2.07

Bristol-Myers Squibb Co 1.99

Southern Company 1.94







8.60%

MER (06/30/2019 incl. HST) A: 2.27%F: 1.16%



Distributions Income paidmonthly4

Composition of FundTop Country Weightings (% Equity)2

United States 89.34United Kingdom 6.24Germany 2.07Australia 1.54Canada 0.81


AAA 14.32 B 14.11A 1.52 CCC 5.27BBB 8.21 CC 0.37BB 3.89 C 0.24


03/29/2019 $13.82 $0.03 09/30/2019 $13.73 $0.03

04/30/2019 $14.00 $0.03 10/31/2019 $13.71 $0.03

05/31/2019 $13.58 $0.03 11/29/2019 $13.88 $0.03

06/28/2019 $13.62 $0.03 12/19/2019 $13.83 $0.15

07/31/2019 $13.66 $0.03 01/31/2020 $13.80 $0.03

Top Sector Weightings (Equity as a % of Total Market Value)2

Communication Services 1.80Consumer Discretionary 1.75Consumer Staples 2.78Energy 5.31Financials 7.19Health Care 7.51Industrials 1.97Information Technology 8.24Materials 2.30Real Estate 0.54Utilities 5.64

Top Sector Weightings (Fixed Income as a % of Total Fund)Corporate Bonds - Investment Grade 24.04Corporate Bonds - Non-Investment Grade 23.88

3640 FFE 0120


Franklin U.S. Monthly Income Hedged CorporateClass

Global BalancedFranklin January 31, 2020

Fund Overview



Series F: 06/28/2013



Benchmark Blended 50% MSCI USAHigh Dividend Yield Index

(CAD Hedged) + 25%Bloomberg Barclays High

Yield Very Liquid Index(CAD Hedged) + 25%

Bloomberg Barclays USAggregate Index (CAD

Hedged)

Investment Objective & StrategyMaximize income while maintaining prospects for long-termcapital appreciation by investing substantially all of its assetsin units of Franklin U.S. Monthly Income Fund (the "underlyingfund"). The underlying fund invests in a diversified portfolio ofdividend-paying stocks, bonds and convertible securities.Franklin U.S. Monthly Income Hedged Corporate Class useshedging strategies to reduce the impact of currencyfluctuations between the U.S. and Canadian dollars.

Fund Management

Edward D. Perks 27 Years, California, United States

Risk Classification

Low Low toMedium


High


Fixed Income 47.93

Equity 41.26


Convertibles 3.78


CDN$ US$ CDN$ US$Series A Front TML3684Series A DSC TML3686Series A Low Load TML3685Series F TML3687Series F ADM TML5160Series FT TML3691Series FT ADM TML5216Series I (Closed to newinvestors)

TML3688

Series O TML3689Series OT TML3690Series PA (Hedged) Front TML5529Series PA (Hedged) DSC TML5531Series PA (Hedged) Low Load TML5530Series PF TML3821Series PF ADM TML5196Series PT (Hedged) Front TML5532Series PT (Hedged) DSC TML5534Series PT (Hedged) Low Load TML5533Series T Front TML3692Series T DSC TML3694Series T Low Load TML3693

1 The holdings listed are an outline of the investments held in the Reference Fund(Franklin U.S. Monthly Income Fund) as a percentage of its net assets.


3 Please see detailed definitions on the last page.4 Sources: S&P and Moody’s. Cash and equivalents are excluded from this breakdown.

REASONS TO INVEST IN THIS FUND:• Flexible and opportunistic investment approach. The investment mandate sets no formal targets with respect to its

equity and fixed-income allocation, and looks opportunistically across the capital structure to focus on investmentopportunities that offer the most compelling risk-reward profiles.

• A strategic approach. The underlying fund is structured to generate income while maintaining the prospect for long-termcapital gain by investing strategically in dividend-paying stocks, bonds and convertible securities.

• Experienced management team. Having joined Franklin Templeton in 1992, Ed Perks, CFA, has been the lead portfoliomanager of the strategy since 2004.

• Reduced currency risk. The fund uses hedging strategies to reduce the impact of currency fluctuations between theU.S. and Canadian dollars.


5.7

-6.0

13.4

6.1

-7.1

11.8

6.9

-5.0

14.9

7.3

-6.0

13.1

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -1.52 -1.52 1.40 2.22 5.52 2.57 3.03 n/a 4.13

Series F‡ -1.43 -1.43 1.69 2.81 6.74 3.72 4.22 n/a 5.30^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As



Government of The United States of America 10.17

Community Health Systems Inc 4.98

Government National Mortgage Association 3.16


Tenet Healthcare Corp 2.44

Bank of America Corp. 2.39

Sprint Corporation 2.39

Wells Fargo & Company 2.07

Bristol-Myers Squibb Co 1.99

Southern Company 1.94







8.60%

MER (06/30/2019 incl. HST) A: 2.34%F: 1.20%



Composition of FundTop Country Weightings (% Equity)2

United States 89.34United Kingdom 6.24Germany 2.07Australia 1.54Canada 0.81


AAA 14.32 B 14.11A 1.52 CCC 5.27BBB 8.21 CC 0.37BB 3.89 C 0.24

Top Sector Weightings (Equity as a % of Total Market Value)2

Communication Services 1.80Consumer Discretionary 1.75Consumer Staples 2.78Energy 5.31Financials 7.19Health Care 7.51Industrials 1.97Information Technology 8.24Materials 2.30Real Estate 0.54Utilities 5.64

Top Sector Weightings (Fixed Income as a % of Total Fund)Corporate Bonds - Investment Grade 24.04Corporate Bonds - Non-Investment Grade 23.88

3684 FFE 0120


Franklin U.S. Opportunities Fund

U.S. EquityFranklin January 31, 2020

Fund Overview



Series F: 11/24/2000


Morningstar Category TM US Equity

Benchmark Russell 3000 GrowthIndex

Investment Objective & StrategyCapital appreciation by investing primarily in U.S. equities thatdemonstrate either accelerating growth, increasing profitability,above-average growth or above-average growth potentialwhen compared to the overall economy. The fund may investup to 25% of total assets in other countries.

Fund Management

Grant Bowers 26 Years, California, United States

Sara Araghi 16 Years, California, United States

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML214 TML814 TML985 TML987Series A DSC TML314 TML914 TML986 TML988Series A Low Load TML573 TML574 TML807 TML808Series F TML244 TML834 TML989 TML990Series F ADM TML5015 TML5038 TML5138 TML5162Series O TML124 TML133 TML993 TML994Series PA Front TML5541 TML5544 TML5535 TML5538Series PA DSC TML5543 TML5546 TML5537 TML5540Series PA Low Load TML5542 TML5545 TML5536 TML5539Series PF TML3907 TML3908Series PF ADM TML5083 TML5109


REASONS TO INVEST IN THIS FUND:• Flexible investment approach. The fund seeks companies located in any industry, ranging from small, emerging

companies with unique products to large, well-established companies that have stood the test of time.• Demonstrated drivers of growth. Each security on the buy list must have a clear growth advantage, such as market

opportunity, competitive positioning, strong management or financial strength and profitability, and demonstrate anappropriate trade-off between risk and potential return.


7.9

-4.0

4.5

43.6

13.921.8

-7.7

18.65.5

24.5

9.1

-2.8

5.7

45.3

15.223.1

-6.6

20.06.7

25.9

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 5.87 5.87 10.84 8.30 24.49 17.41 11.48 13.00 6.79



Top Holdings (% of Total)Amazon.com Inc. 7.51

Microsoft Corporation 6.52

Mastercard Incorporated 5.57

Visa Inc. 4.51

Apple Inc. 3.33

Alphabet Inc. 3.12

ServiceNow, Inc. 3.11

SBA Communications Corp 2.41

UnitedHealth Group Inc. 2.35

Costar Group Inc 2.32



10.24%

MER (06/30/2019 incl. HST) A: 2.52%F: 1.40%



United States 96.36United Kingdom 1.78Netherlands 1.40Cash & Cash Equivalents 0.46

Top Sector Weightings (% of Total)Information Technology 40.19Health Care 16.32Industrials 11.57Consumer Discretionary 11.14Financials 6.58Communication Services 6.38Consumer Staples 3.34Real Estate 3.12Materials 0.51Energy 0.40Cash & Cash Equivalents 0.46

214 FFE 0120


Franklin U.S. Rising Dividends Fund


Fund Overview



Series F: 12/01/1984



Benchmark S&P 500 Index

Investment Objective & StrategyLong-term capital appreciation by investing primarily inAmerican equities, with at least 80% of net assets incompanies that have paid consistently rising dividends.

Fund Management

Nicholas Getaz 19 Years, New York, United States

Matt Quinlan 25 Years, California, United States

Amritha Kasturirangan 19 Years, New York, United States

Nayan M Sheth 18 Years, New York, United States

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML201 TML801 TML2046 TML2051Series A DSC TML301 TML901 TML2048 TML2053Series A Low Load TML516 TML517 TML2047 TML2052Series A (Hedged) Front TML5829Series A (Hedged) DSC TML5831Series A (Hedged) Low Load TML5830Series F TML231 TML841 TML2049 TML2054Series F ADM TML5016 TML5039 TML5140 TML5163Series F (Hedged) TML5832Series F (Hedged) ADM TML5833Series I (Closed to newinvestors)

TML3740 TML3741

Series O TML111 TML141 TML2050 TML2055Series O (Hedged) TML5834Series PA Front TML5556 TML5559 TML5547 TML5550Series PA DSC TML5558 TML5561 TML5549 TML5552Series PA Low Load TML5557 TML5560 TML5548 TML5551Series PA (Hedged) Front TML5835Series PA (Hedged) DSC TML5837Series PA (Hedged) Low Load TML5836Series PF TML3909 TML3910 TML3742 TML3743Series PF ADM TML5084 TML5110 TML5183 TML5198Series PF (Hedged) TML3953Series PF (Hedged) ADM TML5131Series PFT TML3911Series PFT ADM TML5128Series PT Front TML5562 TML5553Series PT DSC TML5564 TML5555Series PT Low Load TML5563 TML5554Series PT (Hedged) Front TML5838Series PT (Hedged) DSC TML5840Series PT (Hedged) Low Load TML5839Series T Front TML3056 TML3155Series T DSC TML3058 TML3157Series T Low Load TML3057 TML3156Series T (Hedged) Front TML5841Series T (Hedged) DSC TML5843Series T (Hedged) Low Load TML5842


REASONS TO INVEST IN THIS FUND:• A core U.S. holding. The fund is an ideal solution for investors seeking a core U.S. equity component for their portfolios.

The fund is designed to offer investors long-term growth and performance through dividend-paying U.S. equities.• Reinvesting for growth. The fund’s mandate focuses on investing in companies with a history of consistent and

substantial dividend increases and that have the potential for higher future cash flows.


10.2 6.3 5.5

36.1

16.812.4 9.3 10.4

0.9

21.211.4 7.5 6.7

37.7

18.113.7 10.5 11.6

2.0

22.6

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.16 1.16 5.61 4.72 19.47 11.85 9.88 12.67 2.81



Top Holdings (% of Total)Microsoft Corporation 7.56

Roper Technologies Inc 5.66

Stryker Corp 3.71

Becton Dickinson and Co 3.59

Accenture PLC 3.57

Honeywell International Inc 3.56

Linde plc 3.47

Air Products and Chemicals, Inc. 3.33

Medtronic plc 3.26

Analog Devices, Inc. 2.95



1.17%

MER (06/30/2019 incl. HST) A: 2.51%F: 1.40%



United States 94.68United Kingdom 3.47Brazil 0.00Cash & Cash Equivalents 1.86

Top Sector Weightings (% of Total)Industrials 26.21Health Care 19.41Information Technology 18.47Materials 11.02Consumer Discretionary 8.62Consumer Staples 8.48Energy 4.23Financials 1.64Communication Services 0.07Cash & Cash Equivalents 1.86

201 FFE 0120


Franklin U.S. Rising Dividends Hedged CorporateClass


Fund Overview



Series F: 10/29/2012



Benchmark S&P 500 (Hedged CAD)

Investment Objective & StrategyLong-term capital appreciation by investing substantially all ofits assets in units of Franklin U.S. Rising Dividends Fund, aportfolio of American equities with a focus on companies thathave paid consistent and increasing dividends. The fund alsoseeks to minimize the impact of currency fluctuations betweenthe U.S. and Canadian dollars.

Fund Management

Nicholas Getaz 19 Years, New York, United States

Matt Quinlan 25 Years, California, United States

Amritha Kasturirangan 19 Years, New York, United States

Nayan M Sheth 18 Years, New York, United States

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML3608Series A DSC TML3610Series A Low Load TML3609Series F TML3611Series F ADM TML5158Series O TML3612Series PA (Hedged) Front TML5565Series PA (Hedged) DSC TML5568Series PA (Hedged) Low Load TML5567Series PT (Hedged) Front TML5569Series PT (Hedged) DSC TML5571Series PT (Hedged) Low Load TML5570Series T Front TML3613Series T DSC TML3615Series T Low Load TML3614

1 Inclusive of trust and corporate class versions where applicable.2 The holdings listed are an outline of the investments held in the Reference Fund

(Franklin U.S. Rising Dividends Fund) as a percentage of its net assets.

REASONS TO INVEST IN THIS FUND:• A core U.S. holding. The fund is an ideal solution for investors seeking a core U.S. equity component for their portfolios.

It offers investors the potential for long-term growth and performance through dividend-paying U.S. equities.• Reinvesting for growth. Portfolio managers seek companies with a history of consistent and rising dividend increases,

and that have reinvested earnings for future growth.• Minimize currency risk. The fund applies a currency hedge to minimize the effects of changes in currency valuations.


28.3

7.9

-5.4

11.217.1

-8.3

25.629.8

9.1

-4.3

12.518.4

-7.3

26.9

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -0.72 -0.72 4.92 4.00 17.31 9.99 7.96 n/a 10.08

Series F‡ -0.63 -0.63 5.21 4.57 18.60 11.20 9.16 n/a 11.33^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% of Total)Microsoft Corporation 7.56

Roper Technologies Inc 5.66

Stryker Corp 3.71

Becton Dickinson and Co 3.59

Accenture PLC 3.57

Honeywell International Inc 3.56

Linde plc 3.47

Air Products and Chemicals, Inc. 3.33

Medtronic plc 3.26

Analog Devices, Inc. 2.95



1.17%

MER (06/30/2019 incl. HST) A: 2.54%F: 1.45%



United States 94.68United Kingdom 3.47Brazil 0.00Cash & Cash Equivalents 1.86

Top Sector Weightings (% of Total)Industrials 26.21Health Care 19.41Information Technology 18.47Materials 11.02Consumer Discretionary 8.62Consumer Staples 8.48Energy 4.23Financials 1.64Communication Services 0.07Cash & Cash Equivalents 1.86

3608 FFE 0120


Franklin Bissett Canada Plus Equity Fund

Canadian EquityFranklin Bissett January 31, 2020

Fund Overview



Series F: 07/17/2017


Morningstar Category TM Canadian Focused Equity

Benchmark Custom Franklin BissettCanada Plus Equity

Benchmark1

Investment Objective & StrategyThe fund aims to achieve long-term capital appreciation byinvesting primarily in a diversified portfolio of Canadian andU.S. equities, with the intent of managing the overall volatilityof the portfolio.

Fund Management

Garey J. Aitken 28 Years, Calgary, AB Canada

Tim Caulfield 20 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High

Asset Allocation (%)Canadian Equities 57.74

US Equity 38.20



CDN$ US$ CDN$ US$Series A Front TML3964Series A DSC TML3966Series A Low Load TML3965Series F TML3967Series F ADM TML3986Series O TML3969Series PA Front TML5247Series PA DSC TML5249Series PA Low Load TML5248Series PF TML3968Series PF ADM TML5054

1 Custom Franklin Bissett Canada Plus Equity Benchmark is a blended index composedof S&P/TSX Composite TR Index (60%) and S&P 500 Index (40%).

2 The fund may also pay capital gains in December if required.

REASONS TO INVEST IN THIS FUND:• A diversified equity portfolio of high conviction Canadian and U.S. companies, managed to effectively balance risk and

return opportunities.• A core equity fund offering Canadian investors the growth opportunity of equities, and managed to mitigate the impact of

equity market downturns.• The fund’s distinctive GARP approach to investing uncovers growth-oriented companies at reasonable valuations. This

process enables the fund to access many quality Canadian companies overlooked by strict value and growth managers.


-3.2

14.1

-2.1

15.4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.82 1.82 4.82 5.55 12.97 n/a n/a n/a 5.91

Series F‡ 1.93 1.93 5.13 6.16 14.27 n/a n/a n/a 7.17^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% of Total)Brookfield Asset Management, Inc. 5.35

Canadian National Railway Company 4.55

Canadian Pacific Railway Limited 4.30

Apple Inc. 3.70

Royal Bank of Canada 3.32


Microsoft Corporation 2.73

Fortis Inc/Canada 2.66

Toronto-Dominion Bank 2.64

McDonald's Corporation 2.49



7.37%

MER (06/30/2019 incl. HST) A: 2.48%F: 1.34%


Distributions Income paidannually2


Canada 58.46United States 38.68Cash & Cash Equivalents 2.86

Top Sector Weightings (% Equity)Financials 26.94Consumer Staples 13.95Industrials 13.26Information Technology 12.38Energy 8.94Health Care 6.93Utilities 5.28Consumer Discretionary 4.40Materials 3.15Communication Services 2.88Real Estate 1.67Index 0.22

3964 FFE 0120


Franklin Bissett Canadian Balanced Fund

Canadian BalancedFranklin Bissett January 31, 2020

Fund Overview



Series F: 09/06/1991


Morningstar Category TM Canadian NeutralBalanced

Benchmark Custom Franklin BissettCanadian Balanced

Benchmark2

Investment Objective & StrategyA balance of current income and long-term capitalappreciation by investing primarily in a portfolio of FranklinBissett fixed-income and equity funds. The fund may alsoinvest in foreign securities.

Fund Management


Thomas O'Gorman 30 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High


Equity 66.49

Fixed Income 33.12




TML272 TML3750

Series O TML130 TML2060Series PA Front TML5256 TML5250Series PA DSC TML5258 TML5252Series PA Low Load TML5257 TML5251Series PF TML3884 TML3751Series PF ADM TML5055 TML5179Series PFT TML3885Series PFT ADM TML5118Series PT Front TML5259 TML5253Series PT DSC TML5261 TML5255Series PT Low Load TML5260 TML5254Series T Front TML298 TML3167Series T DSC TML299 TML3169Series T Low Load TML596 TML3168

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Bissett Canadian Balanced Benchmark is a blended index made up

of the FTSE Canada Universe Bond Index (35%), S&P/TSX Composite TR Index(32.5%), S&P/TSX Small Cap Index (5%), S&P 500 TR Index (CAD) (12.5%), MSCIEAFE GR Index (CAD) (10%) and Bloomberg Barclays Global Aggregate Bond Index(unhedged) (5%).


REASONS TO INVEST IN THIS FUND:• A diversified solution. Franklin Bissett Canadian Balanced Fund gives investors access to diversification by asset class,

market capitalization and geographic region for a low minimum investment of $500.• Its fund-of-funds approach makes it an ideal RRSP/RESP vehicle. Active management, according to the portfolio

manager's economic and market outlook, helps control risk and maximize return potential.


10.3

-1.4

9.6

16.2

5.2

-3.5

11.4

4.6

-7.5

10.111.8

0.0

11.1

17.8

6.4

-2.3

12.7

5.9

-6.5

11.4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.07 1.07 3.83 3.81 8.01 2.62 2.74 5.41 4.34



Top Holdings (% of Total)Franklin Bissett Corporate Bond Fund 23.04


Franklin Bissett Monthly Income and Growth Fund 11.08

Franklin Bissett Small Cap Fund 10.59

Franklin ActiveQuant Canadian Fund 7.42


Franklin ActiveQuant U.S. Fund 5.87


Franklin Mutual Global Discovery Fund 4.54

Templeton EAFE Developed Markets Fund 4.45


Yield to Maturity 2.93%

Average Weighted Maturity 10.8 Years




0.98%

MER (06/30/2019 incl. HST) A: 2.25%F: 1.07%


Yield to Worst 2.82%

Composition of FundGeographic Weightings (% of Total)3

Canada 68.37United States 22.23United Kingdom 1.83Japan 0.92Germany 0.88France 0.65Australia 0.57Switzerland 0.54Netherlands 0.35Others 3.66

Top Sector Weightings (% Equity Market Value)3

Financials 34.16Industrials 11.29Energy 10.54Information Technology 8.68Consumer Staples 7.35Consumer Discretionary 5.96Health Care 5.44Communication Services 5.11Materials 4.89Utilities 3.67


222 FFE 0120


Franklin Bissett Canadian Bond Fund

Canadian Fixed IncomeFranklin Bissett January 31, 2020

Fund Overview



Series F: 01/05/2018


Morningstar Category TM Canadian Fixed Income

Benchmark FTSE Canada UniverseBond Index

Investment Objective & StrategyThe fund seeks to provide current income, liquidity and somelong-term capital appreciation by investing primarily in adiversified portfolio of Canadian government and corporatedebt securities. The fund may invest a portion of its assets inreal return bonds, mortgage-backed securities, preferredshares and in Canadian dollar denominated debt issued byforeign governments and corporations.

Fund Management



Brian A. Calder 21 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High


Corporate Bonds 50.29

Provincial Bonds 31.75

Federal Bonds 16.39

Municipal Bonds 1.90

Cash and Equivalents -0.33


CDN$ US$ CDN$ US$Series A Front TML3978Series A DSC TML3980Series A Low Load TML3979Series F TML3981Series F ADM TML3988Series O TML3385

1 Please see detailed definitions on the last page.2 Market value figures reflect the trading value of the investments, may not total 100%



4 The Fund distributes any realized net capital gains annually in December and maymake distributions at other times during the year.

5 Sources: S&P and Moody’s. Cash includes equivalents, which may be rated.

REASONS TO INVEST IN THIS FUND:• Core high quality Canadian fixed income allocation. The Fund provides access to fixed income diversification by

sector, industry, issuer and maturity. The Fund invests 100% in high-quality bonds with an overweight to credit securitiesfor added longer-term value.

• Steady flow of income. The Fund is focused on total return with an emphasis on sustainable and attractive monthlyincome distributions.

• A complement to other asset classes. In addition to generating stable income, a Canadian fixed income allocationcomplements Canadian, foreign equity and foreign fixed income holdings in its low correlation to these asset classes.


6.7 7.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 3.00 3.00 2.37 2.94 8.28 n/a n/a n/a 4.91




PSP Capital Inc., Senior Note, Reg S, 3.29%, 4/04/24 3.10

Province of Alberta, 3.90%, 12/01/33 2.68

Province of Ontario, 5.60%, 6/02/35 2.39

Province of New Brunswick, 4.55%, 3/26/37 2.29

Province of Manitoba, 6.30%, 3/05/31 2.28

CPPIB Capital Inc., Senior Note, Reg S, 1.95%,9/30/29 1.98

PSP Capital Inc., Senior Note, Reg S, 3.00%,11/05/25 1.95

Province of Manitoba, 4.40%, 9/05/25 1.90

Labrador-Island Link Funding Trust, 144A, 3.76%,6/01/33 1.86


Fund Facts3







71.39%

MER (06/30/2019 incl. HST) A: 1.30%F: 0.75%




Composition of FundTop Country Weightings (% of Total)2

Canada 92.26United States 4.97Australia 1.12Belgium 1.00United Kingdom 0.97Cash & Cash Equivalents -0.33

Bond Ratings (% Market Value)5

AAA 17.71 A 34.87AA 28.35 BBB 19.07


03/29/2019 $9.95 $0.04 09/30/2019 $10.11 $0.04

04/30/2019 $9.93 $0.03 10/31/2019 $10.07 $0.03

05/31/2019 $10.05 $0.03 11/29/2019 $10.09 $0.03

06/28/2019 $10.12 $0.04 12/19/2019 $9.94 $0.07

07/31/2019 $10.10 $0.03 01/31/2020 $10.19 $0.03

3978 FFE 0120


Franklin Bissett Canadian Dividend FundEffective April 22, 2016, Franklin Bissett Canadian High Dividend Fund merged into Franklin Bissett Canadian Dividend Fund(“the fund”). As a result of the merger, the fund’s since inception performance calculations use the start date of April 25,2016.

Canadian DividendFranklin Bissett January 31, 2020

Fund Overview



Series F: 12/22/2003


Morningstar Category TM Canadian Dividend &Income Equity

Benchmark S&P/TSX CompositeIndex2

Investment Objective & StrategyLong-term capital appreciation by investing primarily individend-paying or income-producing Canadian securities,including common shares, income trust units and preferredshares.Portfolio managers look for quality companies at reasonableprices that have a proven ability to deliver a consistent andgrowing level of dividends over time.

Fund Management

Les Stelmach 21 Years, Calgary, AB Canada

Ryan Crowther 18 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series PT Front TML5265Series PT DSC TML5267Series PT Low Load TML5266Series A Front TML1017 TML3476Series A DSC TML1018 TML3478Series A Low Load TML1019 TML3477Series F TML1020 TML3479Series F ADM TML3989 TML5154Series FT TML3483Series FT ADM TML5214Series I (Closed to newinvestors)

TML3870 TML3480

Series O TML1021 TML3481Series OT TML3482Series PA Front TML5268 TML5262Series PA DSC TML5270 TML5264Series PA Low Load TML5269 TML5263Series PF TML3886 TML3809Series PF ADM TML5057 TML5193Series T Front TML3484Series T DSC TML3486Series T Low Load TML3485

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Bissett Canadian Dividend Benchmark is a blended index composed

of the Scotia Capital Income Trust Total Return Index and the S&P/TSX CompositeTotal Return Index. The customized index reflects the returns of the S&P/TSXComposite Total Return Index on and after June 6, 2008, and another blendedbenchmark (composed of 60% Scotia Capital Income Trust Total Return Index and40% S&P/TSX Composite Total Return Index) prior to June 6, 2008.

3 The Fund may also pay capital gains in December if required.

REASONS TO INVEST IN THIS FUND:• Quality investments offering high yield dividends. The fund invests in businesses with low earnings volatility and solid

dividend records.• Diversified stream of tax-efficient income. With a regular stream of monthly income that may include dividends and

Return of Capital, the fund’s distributions are more tax-efficient than regular interest income.


4.2

-12.3

17.1

5.4

-11.3

18.4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 2.09 2.09 4.70 5.73 11.22 2.86 n/a n/a 6.18

Series F‡ 2.19 2.19 5.01 6.35 12.52 4.05 n/a n/a 7.38^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% of Total)Royal Bank of Canada 6.02


Enbridge, Inc. 4.91

Canadian Imperial Bank of Commerce 4.75


Bank of Montreal 3.78

Canadian Utilities Limited 3.73

Bank of Nova Scotia 3.69


Rogers Communications Inc. 3.46



9.27%

MER (06/30/2019 incl. HST) A: 2.33%F: 1.16%






03/29/2019 $14.42 $0.04 09/30/2019 $14.72 $0.03

04/30/2019 $14.71 $0.03 10/31/2019 $14.37 $0.03

05/31/2019 $14.28 $0.03 11/29/2019 $14.85 $0.03

06/28/2019 $14.30 $0.04 12/19/2019 $14.70 $0.03

07/31/2019 $14.33 $0.03 01/31/2020 $14.95 $0.03

Top Sector Weightings (% Equity)Financials 27.95Energy 16.68Utilities 15.17Consumer Staples 10.25Communication Services 9.53Real Estate 8.89Industrials 6.56Materials 4.97

1017 FFE 0120


Franklin Bissett Canadian Equity Fund


Fund Overview



Series F: 03/01/1983


Morningstar Category TM Canadian Equity

Benchmark S&P/TSX CompositeIndex

Investment Objective & StrategyLong-term capital appreciation by investing primarily in adiversified portfolio of mid- to large-cap Canadian equities.

Fund Management



Risk Classification

Low Low toMedium


High





TML282 TML3695

Series O TML112 TML934Series OT TML3696Series PA Front TML5277 TML5271Series PA DSC TML5279 TML5273Series PA Low Load TML5278 TML5272Series PF TML3888 TML3744Series PF ADM TML5058 TML5180Series PT Front TML5274Series PT DSC TML5276Series PT Low Load TML5275Series T Front TML3697Series T DSC TML3699Series T Low Load TML3698


REASONS TO INVEST IN THIS FUND:• 100% pure Canadian equities with a long-term focus. The fund is 100% focused on Canadian equities with a bias

towards dividend payers and growers that typically outperform over the long term.• The fund’s GARP approach to investing uncovers growth-oriented companies at reasonable valuations. This

process enables the fund to access many quality Canadian companies overlooked by strict value and growth managers.


18.0

-6.9

13.920.5

9.2

-9.2

20.9

4.2

-11.4

18.719.4

-5.8

15.422.0

10.7

-8.0

22.4

5.6

-10.3

20.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.74 1.74 5.57 6.22 12.74 3.88 4.45 7.63 6.02



Top Holdings (% of Total)Brookfield Asset Management, Inc. 6.40






Alimentation Couche-Tard Inc. 3.31



Enbridge, Inc. 2.89



9.52%

MER (06/30/2019 incl. HST) A: 2.46%F: 1.15%




Top Sector Weightings (% Equity)Financials 34.22Industrials 13.84Energy 13.78Consumer Staples 10.07Information Technology 6.75Communication Services 5.32Materials 5.07Utilities 4.63Consumer Discretionary 3.22Real Estate 3.10

202 FFE 0120


Franklin Bissett Canadian Government BondFund


Fund Overview


Inception Date Series F: 11/14/2016



Benchmark FTSE Canada AllGovernment Bond Index

Investment Objective & StrategyThe fund seeks current income, liquidity and modest capitalappreciation by investing primarily in bonds issued byCanadian federal, provincial and municipal governments andgovernment agencies, including mortgage-backed securitiesand real return bonds.

Fund Management

Brian A. Calder 21 Years, Calgary, AB Canada


Risk Classification

Low Low toMedium


High



Federal Bonds 42.69




CDN$ US$ CDN$ US$Series F TML3946Series F ADM TML3991Series O TML3948

1 Please see detailed definitions on the last page.2 The fund may also pay capital gains in December if required.3 Sources: S&P and Moody’s. Cash includes equivalents, which may be rated.4 Market value figures reflect the trading value of the investments, may not total 100%


REASONS TO INVEST IN THIS FUND:• Diversification. Low or no correlation between Canadian government bonds and other fixed income and equity securities

makes them an ideal choice for managing portfolio risk.• Steady Flow of Income. Despite global market volatility and lower government yields across developed economies,

Canadian government bonds have continued to provide competitive yields over the past 10 years.• Depth and breadth of research. In a low government bonds yield environment, our extensive research and fully-

integrated risk management approach can help reduce the risk of market pitfalls and benefit from market dislocations.


2.8

0.5

6.5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series F



Series F 3.02 3.02 2.06 2.91 8.40 4.47 n/a n/a 3.92^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As



Canada Housing Trust No. 1, Second Lien, 144A,2.55%, 12/15/23 3.63

PSP Capital Inc., Senior Bond, 2.05%, 1/15/30 3.45


Canada Post Corp., 4.08%, 7/16/25 3.07


Province of Quebec, Senior Bond, 9.375%, 1/16/23 2.89



Province of Quebec, 8.50%, 4/01/26 2.49


Fund FactsPrice per Unit (Series F) $10.06






83.68%

MER (06/30/2019 incl. HST) F: 0.64%

Management Fee F: 0.35%




Canada 100.13Cash & Cash Equivalents -0.13


AAA 43.13 A 17.49AA 39.38

Series F Distribution HistoryDate Price Distr. Date Price Distr.02/28/2019 $9.66 $0.02 08/30/2019 $10.24 $0.02

03/29/2019 $9.87 $0.03 09/30/2019 $10.11 $0.03

04/30/2019 $9.84 $0.02 10/31/2019 $10.07 $0.02

05/31/2019 $10.00 $0.02 11/29/2019 $10.10 $0.02

06/28/2019 $10.07 $0.03 12/31/2019 $9.78 $0.18

07/31/2019 $10.04 $0.02 01/31/2020 $10.06 $0.02

3946 FFE 0120


Franklin Bissett Short Duration Bond FundAs of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund was renamed to Franklin Bissett Short Duration BondFund.


Fund Overview



Series F: 12/22/2003


Morningstar Category TM Canadian Short TermFixed Income

Benchmark FTSE Canada Short TermOverall Bond Index

Investment Objective & StrategyHigh current income and preservation of capital by investingprimarily in Canadian fixed-income securities includingCanadian federal and provincial government bonds, corporatebonds, debentures and short-term notes. The fund may alsoinvest in securities backed by mortgages or other financialassets, and dividend-paying shares of Canadian companies.The fund may invest in foreign fixed-income securities. Theaverage weighted term-to-maturity of the fund’s investments isfive years or less.

Fund Management


Adrienne Young 25 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High



Federal Bonds 21.52



Bank Loans 0.38

Cash and Equivalents 0.38

Other -0.54


CDN$ US$ CDN$ US$Series A Front TML1012Series A DSC TML1013Series A Low Load TML1014Series F TML1015Series F ADM TML3992Series O TML1016




4 Please see detailed definitions on the last page.5 The fund may also pay capital gains in December if required.6 Sources: S&P and Moody’s. Cash includes equivalents, which may be rated.

REASONS TO INVEST IN THIS FUND:• Franklin Bissett’s fixed income expertise. Franklin Bissett has been managing fixed income investments for nearly 30

years for individual, institutional and high net-worth clients.• Lower portfolio volatility. As short-term bonds are generally less sensitive to interest rate movements than longer-term

bonds, they can help minimize the impact of rising rates on a portfolio and reduce overall portfolio volatility.


2.23.3

1.80.8

2.4

0.7

2.1

0.7 0.4

3.62.7

3.9

2.41.4

3.0

1.2

2.7

1.2 1.0

4.2

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.18 1.18 1.32 1.64 4.09 1.88 1.39 1.84 2.49



Top Holdings (% of Total)Province of Ontario, 3.15%, 6/02/22 4.04

Canada Housing Trust, Secured Bond, 144A, 3.80%,6/15/21 3.29

U.S. Treasury Note, 1.50%, 10/31/24 2.65


U.S. Treasury Note 1.76



PSP Capital Inc., Senior Note, Reg S, 1.73%, 6/21/22 1.43


U.S. Treasury Note, 1.75%, 11/15/29 1.36

Fund Facts3







36.04%

MER (06/30/2019 incl. HST) A: 1.27%F: 0.72%





Canada 73.95United States 22.17Germany 1.31Australia 1.29United Kingdom 0.74Belgium 0.15FX Forwards 0.00Cash & Cash Equivalents 0.38


AAA 24.30 BB 3.76AA 28.25 B 0.60A 17.66 CCC 0.06BBB 25.34 NR 0.03


03/29/2019 $8.58 $0.03 09/30/2019 $8.59 $0.03

04/30/2019 $8.60 $0.02 10/31/2019 $8.58 $0.02

05/31/2019 $8.61 $0.02 11/29/2019 $8.58 $0.02

06/28/2019 $8.61 $0.03 12/19/2019 $8.44 $0.13

07/31/2019 $8.60 $0.02 01/31/2020 $8.53 $0.02

1012C FFE 0120


Franklin Bissett Core Plus Bond Fund


Fund Overview



Series F: 08/01/1986



Benchmark FTSE Canada UniverseBond Index

Investment Objective & StrategyHigh current income and some long-term capital appreciationby investing primarily in Canadian federal and provincialgovernment and corporate bonds, debentures and short-termnotes. The fund maintains an overweighted position in high-quality corporate and provincial issues, and an underweightedposition in Canadian federal bonds. The fund may invest inforeign securities.

Fund Management



Risk Classification

Low Low toMedium


High




Federal Bonds 23.85

Bank Loans 4.68


Cash and Equivalents 0.80

Other -0.25



TML280

Series O TML110




4 Please see detailed definitions on the last page.5 The fund may also pay capital gains in December if required.6 Sources: S&P and Moody’s. Cash includes equivalents, which may be rated.

REASONS TO INVEST IN THIS FUND:• An experienced bond investor. With nearly 30 years of fixed income experience, this fund is ideal for investors seeking a

wealth of successful bond investment expertise.• Lower portfolio risk. Adding bonds to a portfolio can lower volatility by providing added stability and a regular stream of

income, which is reassuring in any market environment.• "Core Plus" Investing. The fund's primary investment focus is on core bonds issued in Canada with the potential for

enhanced returns through global diversification.


6.17.2

3.3

-1.4

7.3

0.6

3.3 2.9

-0.6

7.27.08.1

4.1

-0.7

8.2

1.3

4.0 3.7

0.0

7.8

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 3.02 3.02 2.55 3.24 8.90 4.16 2.46 3.61 4.34



Top Holdings (% of Total)U.S. Treasury Bond 3.14

U.S. Treasury Note, 1.75%, 11/15/29 2.67


Canada Housing Trust No. 1, Second Lien, 144A,1.90%, 9/15/26 1.55




U.S. Treasury Note, 1.50%, 10/31/24 1.32

Province of New Brunswick, 4.55%, 3/26/37 1.30

CPPIB Capital Inc., Senior Note, Reg S, 1.95%,9/30/29 1.26

Fund Facts3







74.02%

MER (06/30/2019 incl. HST) A: 1.38%F: 0.80%





Canada 73.66United States 23.32Australia 1.41United Kingdom 0.54Belgium 0.21Germany 0.06FX Forwards -0.02Cash & Cash Equivalents 0.82




04/30/2019 $11.80 $0.03 10/31/2019 $11.97 $0.03

05/31/2019 $11.92 $0.03 11/14/2019 $11.88 $0.07

06/28/2019 $11.99 $0.04 11/29/2019 $11.95 $0.01

07/31/2019 $11.99 $0.03 12/19/2019 $11.85 $0.03

08/30/2019 $12.18 $0.03 01/31/2020 $12.14 $0.03

200 FFE 0120


Franklin Bissett Corporate Bond Fund


Fund Overview



Series F: 12/18/2006


Morningstar Category TM Canadian CorporateFixed Income

Benchmark FTSE Canada AllCorporate Bond Index

Investment Objective & StrategyHigh current income and some long-term capital appreciationby investing primarily in bonds, debentures, notes, revenuebonds, as well as asset- and mortgage-backed securities ofCanadian corporate entities.

Fund Management

Adrienne Young 25 Years, Calgary, AB Canada


Risk Classification

Low Low toMedium


High



Federal Bonds 9.28

Bank Loans 1.35


Other -0.61



TML3384

Series O TML2065




4 Please see detailed definitions on the last page.5 The fund may also pay capital gains in December if required.6 May not include all sectors.7 Sources: S&P and Moody’s. Cash includes equivalents, which may be rated.

REASONS TO INVEST IN THIS FUND:• Ideal complement to a diversified income strategy. The fund is Ideal for investors seeking a great addition to an

income portfolio that may already include dividend-paying equities, income trusts, government bonds and GICs.• Potential for increased fixed income returns. The fund offers fixed-income investors the potential for higher returns by

focusing primarily on investment-grade corporate bonds, debentures and short-term notes.


5.3 5.8 5.4

0.1

5.9

-0.3

5.12.8

-1.6

8.8

5.8 6.5 6.1

0.7

6.4

0.4

5.73.6

-1.1

9.4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 2.70 2.70 2.98 3.60 9.71 4.06 2.82 3.74 3.79




U.S. Treasury Note, 1.75%, 11/15/29 3.99

U.S. Treasury Note, 1.50%, 10/31/24 2.08

Bank of Montreal, Senior Note, 3.19%, 3/01/28 1.87

Royal Bank of Canada, Senior Bond, Reg S, 4.93%,7/16/25 1.36

407 International Inc., Senior Secured Bond, 144A,6.47%, 7/27/29 1.34

Bank of Nova Scotia, Senior Note, 3.10%, 2/02/28 1.31


MetLife Capital Trust IV, pfd., Junior Sub. Bond,144A, 7.875% to 12/15/37, FRN thereafter, 12/15/67 1.15

Hydro One Inc., Senior Bond, 6.03%, 3/03/39 1.14

Hydro One Inc., senior bond, 5.49%, 7/16/40 1.13

Fund Facts3







27.74%

MER (06/30/2019 incl. HST) A: 1.44%F: 0.90%





Canada 65.64United States 31.03Australia 1.83United Kingdom 0.67Belgium 0.57Germany 0.39FX Forwards -0.03Cash & Cash Equivalents -0.10




03/29/2019 $9.27 $0.03 09/30/2019 $9.47 $0.03

04/30/2019 $9.30 $0.03 10/31/2019 $9.43 $0.03

05/31/2019 $9.34 $0.03 11/29/2019 $9.46 $0.03

06/28/2019 $9.43 $0.03 12/19/2019 $9.33 $0.11

07/31/2019 $9.45 $0.03 01/31/2020 $9.55 $0.03

Top Sector Weightings (% Market Value)2,6

Financial 28.46Energy 28.17Infrastructure 11.05Communication 9.93Federal 9.28Industrial 6.68Real Estate 4.74Bank Loans 1.35Securitization 1.09Other -0.61Cash & Cash Equivalents -0.13

2061 FFE 0120


Franklin Bissett Dividend Income Fund


Fund Overview



Series F: 05/31/1988


Morningstar Category TM Canadian EquityBalanced

Benchmark Custom Franklin BissettDividend Income

Benchmark2

Investment Objective & StrategyHigh current income by investing primarily in Canadian andAmerican dividend-paying preferred and common stocks and,from time to time, bonds up to a maximum of 25% of thefund’s total assets. The fund may invest in foreign equity orfixed-income securities.

Fund Management

Les Stelmach 21 Years, Calgary, AB Canada

Ryan Crowther 18 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High


Canadian Equities 60.56

US Equity 20.31

Fixed Income 14.07

Preferred Shares 4.08




TML283 TML3563

Series O TML113 TML3564Series OT TML3950Series PA Front TML5295 TML5289Series PA DSC TML5297 TML5291Series PA Low Load TML5296 TML5290Series PF TML3890 TML3735Series PF ADM TML5063 TML5194Series PFT TML3891Series PFT ADM TML5119Series PT Front TML5298 TML5292Series PT DSC TML5300 TML5294Series PT Low Load TML5299 TML5293Series T Front TML294 TML3565Series T DSC TML295 TML3567Series T Low Load TML520 TML3566

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Bissett Dividend Income Benchmark is a blended index composed of

S&P/TSX Composite TR Index (60%), FTSE Canada Universe Bond Index (15%), S&P500 TR Index (20%) and S&P/TSX Preferred Share TR Index (5%).

3 Please see detailed definitions on the last page.4 The fund may also pay capital gains in December if required.5 Market value figures reflect the trading value of the investments, may not total 100%


REASONS TO INVEST IN THIS FUND:• Focus on dividend-paying equities. The fund provides a stream of consistent returns, which is attractive, especially

during times of market uncertainty.• Capital appreciation potential. By investing primarily in dividend-paying equities with a higher percentage of common

shares than preferred shares, the fund provides capital appreciation potential and consistent dividends over time.


11.6

5.27.7

15.3

4.4

-7.6

18.2

3.5

-7.3

14.912.9

6.59.0

16.8

5.6

-6.4

19.6

4.7

-6.2

16.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 1.82 1.82 4.27 5.25 11.47 3.92 4.48 6.63 5.62






Enbridge, Inc. 3.00





Canadian Utilities Limited Class A 2.27

Fortis Inc. 2.17

Rogers Communications Inc. Class B 2.12







8.26%

MER (06/30/2019 incl. HST) A: 2.32%F: 1.15%





Canada 73.72United States 25.25Australia 0.25Cash & Cash Equivalents 0.78


03/29/2019 $27.84 $0.07 09/30/2019 $28.44 $0.07

04/30/2019 $28.30 $0.06 10/31/2019 $28.02 $0.06

05/31/2019 $27.54 $0.06 11/29/2019 $28.74 $0.06

06/28/2019 $27.75 $0.07 12/19/2019 $28.38 $0.29

07/31/2019 $27.94 $0.06 01/31/2020 $28.81 $0.06

Top Sector Weightings (% of Canadian Equity)Financials 29.41Energy 18.39Utilities 14.20Consumer Staples 9.87Communication Services 8.94Real Estate 8.37Industrials 6.22Materials 4.60


203 FFE 0120


Franklin Bissett Monthly Income and GrowthFund


Fund Overview



Series F: 06/22/2015


Morningstar Category TM Canadian NeutralBalanced

Benchmark Custom Franklin BissettMonthly Income andGrowth Fund Index1

Investment Objective & StrategyBalance of income and capital appreciation by investingprimarily in a diversified portfolio of income-generatingCanadian, U.S. and global equities, equity-related securitiesand fixed-income securities.

Fund Management





Risk Classification

Low Low toMedium


High


Canadian Equities 35.09

Canadian Fixed Income 30.60

US Equity 20.21

U.S. Fixed Income 9.60

Preferred Shares & Convertible Debentures 4.12



CDN$ US$ CDN$ US$Series A Front TML3786Series A DSC TML3788Series A Low Load TML3787Series F TML3789Series F ADM TML3998Series O TML3792Series PA Front TML5313Series PA DSC TML5315Series PA Low Load TML5314Series PF TML3791Series PF ADM TML5066Series PFT TML3894Series PFT ADM TML5120Series PT Front TML5316Series PT DSC TML5318Series PT Low Load TML5317Series T Front TML3822Series T DSC TML3824Series T Low Load TML3823

1 Custom Franklin Bissett Monthly Income and Growth Benchmark is a blended indexcomposed of FTSE Canada Universe Bond Index (37.5%), S&P/TSX Composite Index(35%), S&P 500 Index (20%) and Bloomberg Barclays U.S. Aggregate Bond Index(7.5%).



4 Please see detailed definitions on the last page.5 The fund may also pay capital gains in December if required.

REASONS TO INVEST IN THIS FUND:• Unlocking opportunities across the capital structure. The strategy provides flexibility to invest across the capital

structure with emphasis on seeking to generate the best income and capital appreciation opportunities from Canadianand U.S. companies.

• Benefit from multiple sources of income. The fund seeks to provide a sustainable cash flow from multiple sources:Canadian and U.S. common equity, preferred shares, Canadian and foreign fixed income, option premiums andconvertible debentures.

• Diversified exposure. Constructed around a broad set of lower correlated positions from the Canadian and U.S. market,the portfolio seeks to provide stability and ease the investor’s exposure to market swings.


9.0

2.9

-2.7

11.410.1

4.1

-1.7

12.7

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 2.24 2.24 3.82 4.57 11.29 4.70 n/a n/a 4.92

Series F‡ 2.33 2.33 4.11 5.15 12.53 5.87 n/a n/a 6.08^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As



Brookfield Asset Management, Inc. 3.33



Apple Inc. 2.51



Enbridge, Inc. 2.08

TC Energy Corporation 2.00


Fortis Inc. 1.86

Fund Facts3







49.03%

MER (06/30/2019 incl. HST) A: 2.15%F: 1.04%





Canada 68.38United States 30.30Germany 0.43Australia 0.35Belgium 0.33United Kingdom 0.23Cash & Cash Equivalents -0.02


03/29/2019 $9.77 $0.03 09/30/2019 $9.94 $0.04

04/30/2019 $9.89 $0.03 10/31/2019 $9.86 $0.03

05/31/2019 $9.73 $0.03 11/21/2019 $9.74 $0.27

06/28/2019 $9.80 $0.03 12/19/2019 $9.74 $0.03

07/31/2019 $9.89 $0.03 01/31/2020 $9.89 $0.04

Top Sector Weightings (% Equity Market Value)2

Financials 29.44Consumer Staples 12.80Industrials 12.30Energy 12.24Information Technology 10.96Health Care 5.94Utilities 4.76Consumer Discretionary 3.92Materials 2.94Communication Services 2.93Real Estate 1.77

Top Sector Weightings (% Fixed Income Market Value)2

Investment Grade Corporate 54.13Canadian Provincial 24.06Canadian Federal 6.70Foreign Government 6.53High Yield Corporate 4.47Canadian Municipal 3.38Bank Loans 0.72

3786 FFE 0120


Franklin Bissett Small Cap Fund


Fund Overview



Series F: 08/30/1993


Morningstar Category TM Canadian Small/Mid CapEquity

Benchmark Custom Franklin BissettSmall Cap Benchmark2

Investment Objective & StrategyLong-term capital appreciation by investing primarily in adiversified portfolio of small-capitalization Canadian equitiesthat have proven management and long-term growth plans.The fund may also invest in foreign securities.

Fund Management


Michael EdwardRichmond

18 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML223Series A DSC TML323Series A Low Load TML598Series F TML253Series F ADM TML3999Series O TML116Series PA Front TML5322Series PA DSC TML5324Series PA Low Load TML5323Series PF TML3812Series PF ADM TML5067

1 Inclusive of trust and corporate class versions where applicable.2 Custom Franklin Bissett Small Cap Benchmark is a blended index composed of the

S&P/TSX Small Cap Total Return Index and BMO Small Cap Index. The customizedindex reflects the returns of the S&P/TSX Small Cap Total Return Index on and afterJanuary 1, 2000, and the BMO Small Cap Index prior to January 1, 2000.

REASONS TO INVEST IN THIS FUND:• Small caps provide diversification. Ideal for investors seeking to add small caps to an investment portfolio can

complement large- and mid-cap holdings and help generate superior risk-adjusted returns over time.• Investing for the long term. The fund invests primarily in companies with a market capitalization of between $100 million

to $2.5 billion, and invests in companies with proven management and a long-term growth plan.


27.8

-12.8

20.933.6

-5.2

-19.9

28.6

-1.9

-28.7

-3.1

29.2

-11.8

22.335.1

-4.1

-19.0

30.0

-0.8

-27.9

-2.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -2.45 -2.45 6.15 0.20 -7.56 -12.63 -6.40 1.37 4.73

Series F‡ -2.36 -2.36 6.44 0.76 -6.53 -11.64 -5.35 2.51 6.72^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% of Total)Transat A.T. Inc. 3.99

Corby Spirit and Wine Limited 3.74

Blackline Safety Corp 3.51

InterRent Real Estate Investment Trust 3.19

Kinaxis Inc 3.18

Jamieson Wellness Inc. 3.15

Killam Apartment REIT 3.04

ATCO Ltd 3.04

Indigo Books & Music Inc. 3.02

Trican Well Service Ltd. 2.99



24.22%

MER (06/30/2019 incl. HST) A: 2.86%F: 1.74%



Canada 99.01Cash & Cash Equivalents 0.99

Top Sector Weightings (% Equity)Industrials 18.54Energy 16.96Information Technology 15.33Consumer Discretionary 13.51Financials 8.46Real Estate 8.32Materials 8.12Consumer Staples 6.96Utilities 3.07Health Care 0.45Communication Services 0.29

223 FFE 0120


Franklin ActiveQuant Canadian Fund

Canadian EquityActiveQuant January 31, 2020

Fund Overview



Series F: 09/20/2004


Morningstar Category TM Canadian Equity

Benchmark S&P/TSX CompositeIndex

Investment Objective & StrategyLong-term capital appreciation by investing primarily in adiversified portfolio of Canadian securities.

Fund Management


Izabel Flis 19 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High





TML3361 TML3360

Series O TML2000 TML2025Series PA Front TML5235 TML5232Series PA DSC TML5237 TML5234Series PA Low Load TML5236 TML5233Series PF TML3882Series PF ADM TML5052


REASONS TO INVEST IN THIS FUND:• Canadian focus. Ideal for investors seeking a core Canadian equity fund that is primarily invested in Canadian-listed

securities.• The fund leverages a proprietary quantitative screening model designed to produce capital appreciation, based on

the characteristics of successful Canadian companies as reflected in their securities.


20.4

-5.0

7.6

20.113.8

-5.8

12.5

3.6

-8.3

16.521.8

-3.9

8.8

21.415.0

-4.8

13.8

4.8

-7.3

17.8

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 0.66 0.66 3.86 4.63 10.16 3.67 3.16 7.57 6.75



Top Holdings (% of Total)Open Text Corp 3.39


Brookfield Asset Management, Inc. 3.16

Constellation Software Inc 3.15

Bausch Health Companies Inc. 3.07

Waste Connections, Inc. 2.98

Intact Financial Corp. 2.88


National Bank of Canada 2.82

Enbridge, Inc. 2.80



7.73%

MER (06/30/2019 incl. HST) A: 2.08%F: 0.99%




Top Sector Weightings (% Equity)Financials 25.67Energy 13.32Consumer Discretionary 10.87Communication Services 9.72Consumer Staples 9.60Information Technology 9.09Industrials 9.08Materials 6.71Health Care 3.09Utilities 2.85

1096 FFE 0120


Franklin ActiveQuant U.S. Fund

U.S. EquityActiveQuant January 31, 2020

Fund Overview



Series F: 06/09/2017



Benchmark S&P 500 Index

Investment Objective & StrategyLong-term capital appreciation by investing primarily in adiversified portfolio of U.S. securities, utilizing a quantitativemodel selection process.

Fund Management


Izabel Flis 19 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High




CDN$ US$ CDN$ US$Series A Front TML3970 TML3230 TML3235Series A DSC TML3972 TML3232 TML3237Series A Low Load TML3971 TML3231 TML3236Series F TML3973 TML3233 TML3238Series F ADM TML3985 TML5137 TML5161Series O TML3228 TML3229 TML3234 TML3239Series PA Front TML5244 TML5238 TML5241Series PA DSC TML5246 TML5240 TML5243Series PA Low Load TML5245 TML5239 TML5242Series PF TML3974 TML3819 TML3820Series PF ADM TML5053 TML5182 TML5197


REASONS TO INVEST IN THIS FUND:• Core U.S. equity exposure targeting long-term market outperformance with below-average volatility.• A multi-factor approach, with a blend of fundamental and forward-looking screens, mitigates against emotional biases to

investing.• A concentrated portfolio of 40 U.S. equity holdings with a neutral weight of approximately 2.5% and rebalanced on a

monthly basis.


1.2

17.5

2.3

18.7

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A 0.32 0.32 3.74 6.87 15.71 n/a n/a n/a 7.86



Top Holdings (% of Total)Nextera Energy Inc 3.27

Alphabet Inc. 3.23

Intel Corp. 3.14

Apple Inc. 3.12

Globe Life Inc. 2.93

Allstate Corp 2.86


Raytheon Company 2.78

Visa Inc. 2.76

Procter & Gamble Co 2.72



11.89%

MER (06/30/2019 incl. HST) A: 2.07%F: 1.07%



United States 99.40Cash & Cash Equivalents 0.60

Top Sector Weightings (% Equity)Health Care 19.07Information Technology 16.30Communication Services 15.49Financials 12.83Industrials 12.25Consumer Staples 11.76Utilities 5.72Consumer Discretionary 4.61Energy 1.97

3970 FFE 0120


Franklin Mutual Global Discovery Fund

Global & International EquityFranklin Mutual Series January 31, 2020

Fund Overview



Series F: 02/17/2003



Benchmark MSCI World Index

Investment Objective & StrategyLong-term capital appreciation by investing primarily in theequity and debt securities of issuers around the world.

Fund Management

Peter Langerman 34 Years, New Jersey, United States

Tim Rankin 28 Years, New Jersey, United States

Christian Correa 18 Years, New Jersey, United States

Risk Classification

Low Low toMedium


High

Asset Allocation (%)Undervalued Equities 94.77

Cash & Other Net Assets 4.21

Distressed Investments 1.02



TML3255 TML3363 TML3259 TML3362

Series O TML106 TML145 TML119 TML147Series PA Front TML5373 TML5376 TML5361 TML5364Series PA DSC TML5375 TML5378 TML5363 TML5366Series PA Low Load TML5374 TML5377 TML5362 TML5365Series PF TML3895 TML3896 TML3736 TML3737Series PF ADM TML5072 TML5099 TML5184 TML5199Series PFT TML3897Series PFT ADM TML5121Series PT Front TML5379 TML5382 TML5367 TML5370Series PT DSC TML5381 TML5384 TML5369 TML5372Series PT Low Load TML5380 TML5383 TML5368 TML5371Series T Front TML3059 TML3256 TML3161 TML3260Series T DSC TML3061 TML3258 TML3163 TML3262Series T Low Load TML3060 TML3257 TML3162 TML3261

1 Inclusive of trust and corporate class versions where applicable.2 Franklin Mutual Global Discovery Fund positions are divided into equity and non-

equity (distressed book) positions. Each non-equity position shows up separately,distorting the number of securities in the Fund.

REASONS TO INVEST IN THIS FUND:• A flexible, go-anywhere strategy. Fund managers invest in the most attractive investment opportunities, unconstrained

by region, market capitalization, sector or style box definition.• Deep value investing. The fund employs a distinctive, three-pronged approach to investing that has withstood the test of

time for more than 50 years, uncovering opportunities in undervalued stocks, merger arbitrage and distressed securities.• Currency management. The fund typically engages in currency management strategies to hedge the exposure to the

impact of changes in currency exchange rates.


7.7

-3.4

12.6

28.0

6.0

-1.4

8.7 5.9

-12.7

21.1

8.9

-2.3

13.9

29.5

7.2

-0.3

9.9 7.1

-11.6

22.5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series A Series F



Series A -3.64 -3.64 1.71 2.09 9.18 2.37 2.98 6.38 6.05



Top Holdings (% of Total)Novartis AG 3.32

GlaxoSmithKline PLC 3.25

Medtronic plc 3.02

The Walt Disney Company 2.64

British American Tobacco PLC 2.57

Kinder Morgan, Inc. 2.40

Samsung Electronics Co., Ltd. 2.34

Volkswagen AG 2.28

Hartford Financial Services Group Inc 2.24

Check Point Software Technologies Ltd 1.98



5.62%

MER (06/30/2019 incl. HST) A: 2.60%F: 1.45%



United States 53.74United Kingdom 14.86Switzerland 7.38Germany 4.09Netherlands 3.60South Korea 2.34Israel 1.98Canada 1.97Others 5.82Cash & Cash Equivalents 4.21

Top Sector Weightings (% of Total)Financials 25.70Health Care 14.82Information Technology 13.15Energy 11.79Communication Services 8.12Consumer Discretionary 7.19Consumer Staples 5.94Industrials 5.19Materials 3.86Real Estate 0.04Utilities 0.00Cash & Cash Equivalents 4.21


180 FFE 0120


Franklin Bissett Money Market Funds

Money MarketFranklin Bissett January 31, 2020

LEAD AND CO-LEAD MANAGERS

Franklin Bissett Money Market FundBrian A. Calder21 Years, Calgary, AB Canada

Sevrika Galipeau12 Years, Calgary, AB Canada

FUND FACTS

Franklin Bissett Money Market FundPrice per Unit (Series A) : $10.00Assets of the Fund : $280,825,8461

Inception Date : 11/24/2000MER (06/30/2019 incl. HST) : 0.81%


Franklin Bissett Money Market Fund

Calendar Year Returns in Canadian Dollars (%)

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010

Series A 1.28 1.00 0.34 0.19 0.13 0.24 0.27 0.42 0.37 0.16

Series F‡ 1.56 1.28 0.62 0.58 0.65 0.80 0.83 0.98 0.92 0.73



Series A 0.10 0.10 0.29 0.59 1.26 0.90 0.60 0.45 1.29



Fund Codes


SERIES CDN$ US$Series A Front TML204Series A DSC TML304Series A Low Load TML521Series F TML236Series F ADM TML3997Series I (Closed to newinvestors)

TML279

Series O TML117Series PA Front TML5310Series PA DSC TML5312Series PA Low Load TML5311Series PF TML3893Series PF ADM TML5065

CORPORATE CLASS CDN$ US$Series A Front TML935Series A DSC TML936Series A Low Load TML782Series F TML937Series F ADM TML5139Series I (Closed to newinvestors)

TML938

Series O TML939Series PA Front TML5307Series PA DSC TML5309Series PA Low Load TML5308Series PFSeries PF ADM

Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurancesthat the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned toyou.

CA FFMME 0120


Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.© 2019 Franklin Templeton. All rights reserved.

FRANKLIN MULTI-ASSET ETF PORTFOLIOS

EXPERT CRAFTSMANSHIP TO DELIVER BETTER OUTCOMES Franklin Multi-Asset ETF Portfolios are a simple and diversi� ed investment solution. Our managers actively manage asset allocation, ETF selection, currency and risk – so you don’t have to.

Simpli� ed ETF solutions designed for better outcomes – at an attractive price.

Learn more at franklintempleton.ca/etfportfolios

CAEN_FTMAS_ETF_ PAINTBRUSH_8x10.875_AM_1019.indd 1 04/10/2019 15:05


Franklin Conservative Income ETF Portfolio

Multi-AssetFranklin Templeton Multi-Asset Solutions* January 31, 2020

Fund Overview



Series F: 02/20/2019

Number of Holdings 5,053


Benchmark Custom FranklinConservative Income ETF

Portfolio Benchmark1

Investment Objective & StrategyProvide current income with some long-term capitalappreciation by investing primarily in exchange traded funds(ETFs) that invest in Canadian, U.S. and international fixedincome and equity securities.

Fund Management



Risk Classification

Low Low toMedium


High


Equity 24.50



CDN$ US$ CDN$ US$Series A Front TML5703Series A DSC TML5705Series A Low Load TML5704Series F TML5706Series F ADM TML5707Series T Front TML5708Series T DSC TML5710Series T Low Load TML5709Series FT TML5711Series FT ADM TML5712

1 Custom Franklin Conservative Income ETF Portfolio Benchmark is a blended indexcomposed of the S&P/TSX Composite Index (6.5%), MSCI AC World Index (18.5%),FTSE Canada Universe Bond Index (37.5%), and Bloomberg Barclays Multiverse Index(100% Hedged into CAD) (37.5%).

2 The Fund may also pay capital gains in December if required.

REASONS TO INVEST IN THIS FUND:• Diversification: After conducting in-depth research and analysis, we carefully hand pick a combination of ETFs to create

portfolios diversified by geography and asset class.• Active, Expert Management: The Portfolios are backed by the global expertise and research of our Franklin Templeton

Multi-Asset Solutions team. Our investment experts actively manage asset allocation, fund selection, currency and risk,with the flexibility to tilt portfolios towards opportunities.

• Ease of Access, Attractive Pricing: Franklin Multi-Asset ETF Portfolios are mutual funds that invest in ETFs. As a result,they combine some of the best features of both mutual funds and ETFs, such as active management, lower fees and anability to use automatic investment plans, to name a few.

Performance



Series A 2.04 2.04 2.45 3.29 n/a n/a n/a n/a 7.55

Series F‡ 2.11 2.11 2.67 3.74 n/a n/a n/a n/a 8.42^ Series inception date‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As


Top Holdings (% Market Value)Franklin Bissett Canadian Government Bond Fund 28.11


Franklin Liberty Canadian Investment GradeCorporate ETF 12.64


iShares U.S. Treasury Bond ETF 4.88




iShares Core MSCI Emerging Markets ETF 1.97

Franklin FTSE United Kingdom ETF 1.45





8.67%

MER (06/30/2019 incl. HST) A: 1.22%F: 0.37%



Distributions Income paidquarterly2


Canada 47.99United States 11.20Emerging Markets 2.69Europe ex-UK 2.61United Kingdom 1.49Japan 0.80Other 33.22

Series A Distribution HistoryDate Price Distr. Date Price Distr.03/29/2019 $10.14 $0.02 n/a n/a n/a

06/28/2019 $10.31 $0.05 n/a n/a n/a

09/30/2019 $10.41 $0.04 n/a n/a n/a

12/31/2019 $10.33 $0.10 n/a n/a n/a

5703 FFE 0120


Franklin Core ETF Portfolio


Fund Overview



Series F: 02/20/2019



Benchmark Custom Franklin CoreETF Portfolio Benchmark1

Investment Objective & StrategyProvide a balance between long-term capital appreciation andincome with an emphasis on long-term capital appreciation byinvesting in exchange traded funds (ETFs) that invest inCanadian, U.S. and international fixed income and equitysecurities.

Fund Management



Risk Classification

Low Low toMedium


High


Fixed Income 44.15




1 Custom Franklin Core ETF Portfolio Benchmark is a blended index composed of theS&P/TSX Composite Index (13.5%), MSCI AC World Index (41.5%), FTSE CanadaUniverse Bond Index (22.5%), and Bloomberg Barclays Multiverse Index (100%Hedged into CAD) (22.5%).





Performance






Top Holdings (% Market Value)Franklin FTSE U.S. Index ETF 18.31








Franklin Liberty Risk Managed Canadian Equity ETF 3.21






8.71%

MER (06/30/2019 incl. HST) A: 1.53%F: 0.40%



Distributions Income and realizednet capital gains

paid annually


Canada 38.87United States 24.72Emerging Markets 5.90Europe ex-UK 5.75United Kingdom 3.24Japan 1.73Other 19.80


5713 FFE 0120


Franklin Growth ETF Portfolio


Fund Overview



Series F: 02/20/2019


Morningstar Category TM Global Equity Balanced

Benchmark Custom Franklin GrowthETF Portfolio Benchmark1

Investment Objective & StrategyProvide long-term capital appreciation with additional stabilityderived from investing in income by investing in a diversifiedmix of exchange traded funds (ETFs) that invest in Canadian,U.S. and international fixed income and equity securities.

Fund Management



Risk Classification

Low Low toMedium


High


Fixed Income 25.40




1 Custom Franklin Growth ETF Portfolio Benchmark is a blended index composed of theS&P/TSX Composite Index (18.5%), MSCI AC World Index (56.5%), FTSE CanadaUniverse Bond Index (12.5%), and Bloomberg Barclays Multiverse Index (100%Hedged into CAD) (12.5%).





Performance






Top Holdings (% Market Value)Franklin FTSE U.S. Index ETF 25.11







Franklin Liberty Risk Managed Canadian Equity ETF 4.56







11.27%

MER (06/30/2019 incl. HST) A: 1.54%F: 0.41%




paid annually


United States 33.79Canada 32.90Europe ex-UK 7.87Emerging Markets 7.67United Kingdom 4.05Japan 2.33Other 11.38


5723 FFE 0120

* Invests primarily in the U.S.-domiciled Franklin FTSE Japan ETF.Commissions, management fees and expenses may all be associated with investments in exchange-traded funds (ETFs). Investment objectives, risks, fees, expenses, and other important information are contained in the prospectus and the summary document; please read the prospectus and the summary document before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.© 2020 Franklin Templeton. All rights reserved.

COUNTRY AND REGIONAL ETFs. FOR LESS.Get the precise country and regional exposure you want—at a low cost. Explore our new suite of core country and regional equity ETFs tracking FTSE indices.

Explore our full suite of ETFs at franklintempleton.ca/regionaletf

Management fee

FLJA Franklin FTSE Japan Index ETF* 0.09%

FLUR Franklin FTSE Europe ex U.K. Index ETF 0.09%

FLAM Franklin FTSE U.S. Index ETF 0.07%

FLCD Franklin FTSE Canada All Cap Index ETF 0.05%

CAEN_AM_AD_FLAGS_8x10.875_0220.indd 1CAEN_AM_AD_FLAGS_8x10.875_0220.indd 1 20/02/2020 15:1120/02/2020 15:11


Abc

Franklin FTSE Canada All CapIndex ETF FLCD

As of January 31, 2020

Provides access to the Canadian stock market by replicating theFTSE Canada All Cap Domestic Index, allowing investors to gainprecise exposure to Canada at a low cost.

.

INVESTMENT OBJECTIVE

FUND OVERVIEW

Total Net Assets

Number of Securities ex-Cash

Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP

Dividend Distributions

Eligibility

Risk Rating

Benchmark

Frequency of Index Reconstitution

$262.55M

198

2019-02-20

Passive

Equity

11,500,000

Toronto Stock Exchange

FLCD

35351E100

Quarterly

RRSP, RRIF, RESP, TFSA, DPSP, RDSP

Low to Medium

FTSE Canada All Cap Domestic Index

Semi-Annual

EXPENSES

Management Fee

Management Expense Ratio

0.05%

0.06% .

MANAGEMENT

Dina Ting, CFA® 4 24

Louis Hsu, CFA® 2 12

Hailey Harris 1 10

Years with Firm Years of Experience

· Execute views on Canada within your domestic markets exposure.

· Provides targeted exposure to large, mid and small-sized companies in Canada.

· Seeks to provide investment results that closely correspond, before fees and expenses, to theperformance of the FTSE Canada All Cap Domestic Index.

REASONS TO INVEST

2019..

TOTAL RETURNS (%)

FLCD NAV 1.52 1.52 5.69 6.88 -- -- 10.79FTSE Canada All Cap Domestic Index 1.53 1.53 5.72 6.92 -- -- 10.88

2019..2019..

YTD 1 MO 3 MO 6 MO 1 YR 3 YR SINCE INC.2019-02-20

Performance data represents past performance, which does not guarantee future results. Current performance maydiffer from figures shown. Investment return and principal value will fluctuate with market conditions, and you may incur again or loss when you sell your units.

Returns are average annualized total returns, except for periods of less than one year, which are cumulative.

Royal Bank of Canada

Toronto-Dominion Bank

Enbridge, Inc.

Canadian National Railway Co.

Bank Of Nova Scotia/The

Brookfield Asset Management, Inc.

TC Energy Corp.

Bank of Montreal

Suncor Energy Inc.

Shopify Inc. 2.60%2.67%2.76%2.89%3.12%3.77%3.84%4.56%5.69%6.46%

TOP TEN HOLDINGS

27742Dealer Use Only | Not for Distribution to the Public

Franklin Templeton Investments Canada200 King Street West, Suite 1500Toronto, Ontario, M5H 3T4Tel: 1-800-387-0830libertyshares.ca

--


FinancialsEnergyIndustrialsMaterialsInformation TechnologyCommunication ServicesConsumer StaplesUtilitiesConsumer DiscretionaryReal EstateHealth CareCash & Cash Equivalents 0.31%

1.18%2.63%3.76%3.77%4.05%5.54%6.16%

10.89%11.44%16.96%33.33%

SECTOR ALLOCATION

Name P/B Ratio P/E Ratio (Trailing12 Months)

Std Deviation1 Year

FLCD 1.84 15.23 --

FUND MEASURES

>50.0 Billion 6 43.8425.0-50.0 Billion 5 23.7810.0-25.0 Billion 4 13.625.0-10.0 Billion 3 10.032.0-5.0 Billion 2 6.75<2.0 Billion 1 1.98

MARKET CAPITALIZATION BREAKDOWN (% OF EQUITY)

Portfolio holdings are subject to change. Issuers, Holdings, Sector Exposure and Geographic Allocation figures may reflect certain derivatives held in the portfolio (or their underlying reference assets) and maynot total 100% or may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

IMPORTANT INFORMATION

Commissions, management fees and expenses may all be associated with investments in ETFs. Investors should carefully consider an ETF's investment objectives and strategies, risks, fees and expensesbefore investing. The prospectus and ETF facts contain this and other information. Please read the prospectus and ETF facts carefully before investing.ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF's net asset value. Brokerage commissions and ETF expenses will reduce returns.

Performance of an ETF may vary significantly from the performance of an index, as a result of transaction costs, expenses and other factors. The indicated rates of return are the historical annual compoundedtotal returns including changes in share or unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payableby any security holder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.Source: FTSE. Important data provider notices and terms available at www.franklintempletondatasources.com.Performance: ETF units may be bought or sold throughout the day at their market price, not their Net Asset Value (NAV), on the exchange on which they are listed. Units of ETFs are tradable on secondarymarkets and may trade either at a premium or a discount to their NAV on the secondary market.Top Ten Holdings: All portfolio holdings are subject to change.Composition of Fund: Percentage may not equal 100% due to rounding.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute....Franklin Templeton Investments Canada is a business name used by Franklin Templeton Investments Corp.

libertyshares.ca FLCD FFE 01/20


Abc

Franklin FTSE Europe ex-U.K.Index ETF FLUR


Provides access to the European (ex-U.K.) stock market byreplicating the FTSE Developed Europe ex-U.K. Index, allowinginvestors to gain precise exposure to Europe at a low cost.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark


$128.82M

454

2019-02-20

Passive

Equity

5,700,000


FLUR

35351C104

Semi-Annually


Medium to High

FTSE Developed Europe ex-U.K. Index

Semi-Annual

EXPENSES

Management Fee


0.09%

0.10% .

MANAGEMENT



Hailey Harris 1 10


· Execute views on Europe ex-U.K. within your developed international markets exposure.

· Provides targeted exposure to large- and mid-sized companies in Europe ex-U.K.

· Seeks to provide investment results that closely correspond, before fees and expenses, to theperformance of the FTSE Europe ex-U.K. Index.

REASONS TO INVEST

2019..

TOTAL RETURNS (%)

FLUR NAV -0.10 -0.10 3.36 7.23 -- -- 12.68FTSE Developed Europe ex-U.K. Index -0.10 -0.10 3.38 7.27 -- -- 12.33

2019..2019..




Nestle SA

Roche Holding AG

Novartis AG

SAP SE

Total SA

ASML Holding NV

LVMH Moet Hennessy Louis Vuitton SE

Sanofi

Novo Nordisk A/S

Allianz SE 1.44%1.46%1.51%1.58%1.63%1.71%1.83%2.88%3.51%4.61%

TOP TEN HOLDINGS




FinancialsHealth CareIndustrialsConsumer StaplesConsumer DiscretionaryInformation TechnologyMaterialsUtilitiesCommunication ServicesEnergyReal EstateCash & Cash Equivalents 0.06%

2.06%3.76%4.25%5.23%6.19%7.49%

10.33%12.48%15.15%15.38%17.62%

SECTOR ALLOCATION


Std Deviation1 Year

FLUR 1.86 17.72 --

FUND MEASURES

>50.0 Billion 53.6925.0-50.0 Billion 22.5310.0-25.0 Billion 16.185.0-10.0 Billion 6.242.0-5.0 Billion 0.89<2.0 Billion --N/A 0.48

MARKET CAPITALIZATION BREAKDOWN (% EQUITY)

FranceSwitzerlandGermanyNetherlandsSpainSwedenItalyDenmarkFinlandBelgiumOtherCash & Cash Equivalents 0.06%

5.68%2.18%2.62%4.09%5.11%5.82%6.07%6.32%

18.56%20.57%22.91%

GEOGRAPHIC ALLOCATION






libertyshares.ca FLUR FFE 01/20


Abc

Franklin FTSE Japan Index ETFFLJA


Provides access to the Japanese stock market by replicating theFTSE Japan Index, allowing investors to gain precise exposure toJapan at a low cost. Invests primarily in the U.S.-domiciled FranklinFTSE Japan ETF.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark


$52.04M

504

2019-02-20

Passive

Equity

2,400,000


FLJA

35351A108

Semi-Annually


Medium

FTSE Japan Index

Semi-Annual

EXPENSES

Management Fee


0.09%

0.00% .

MANAGEMENT



Hailey Harris 1 10


· Execute views on Japan within your developed international exposure.

· Provides targeted exposure to large- and mid-sized companies in Japan.

· Seeks to provide investment results that closely correspond, before fees and expenses, to theperformance of the FTSE Japan Index.

REASONS TO INVEST

2019..

TOTAL RETURNS (%)

Information displayed is for the U.S.-domiciled Franklin FTSE Japan ETF in which the fund primarily invests.

FLJA NAV -0.74 -0.74 0.25 8.22 -- -- 7.50FTSE Japan Index 0.31 0.31 1.65 9.84 -- -- 9.72

2019..2019..




Toyota Motor Corp.

Sony Corp.

SoftBank Corp.

Mitsubishi UFJ Financial Group Inc.

Keyence Corp.

Takeda Pharmaceutical Co Ltd.

KDDI Corp.

Recruit Holdings Co Ltd.

SHIN-ETSU Chemical Co Ltd.

Sumitomo Mitsui Financial Group Inc. 1.20%1.21%1.30%1.32%1.53%1.59%1.68%1.75%2.25%4.47%

TOP TEN HOLDINGS

For any Franklin LibertyShares ETF that invests in one or more underlying ETF(s), the number of holdingsdisplayed represents those of the underlying ETF(s).



--


IndustrialsConsumer DiscretionaryInformation TechnologyFinancialsHealth CareConsumer StaplesCommunication ServicesMaterialsReal EstateUtilitiesEnergyIndexCash & Cash Equivalents 0.02%

0.07%0.76%1.64%2.93%5.91%7.91%8.41%

10.07%10.53%11.70%18.11%21.95%

SECTOR ALLOCATION

For any Franklin LibertyShares ETF that invests in one or more underlying ETF(s), the sectorallocation displayed represents those of the underlying ETF(s).


Std Deviation1 Year

FLJA 1.27 15.38 -- 2020-01-31

FUND MEASURES

>50.0 Billion 6 32.8225.0-50.0 Billion 5 24.4510.0-25.0 Billion 4 20.215.0-10.0 Billion 3 12.562.0-5.0 Billion 2 9.19<2.0 Billion 1 0.78


For any Franklin LibertyShares ETF that invests in one or more underlying ETF(s), the marketcapitalization breakdown displayed represents those of the underlying ETF(s).




U.S. securities laws generally limit a non-U.S. fund's purchase of a U.S. registered mutual fund or ETF (a “U.S. Fund”) to no more than 3% of the U.S. Fund's voting securities. There are exceptions to thoselaws that apply to fund-on-fund structures such as the investment by Franklin FTSE Japan Index ETF in Franklin FTSE Japan ETF. A non-U.S. fund should consult with its advisor(s) prior to investing, directlyor indirectly, in a U.S. Fund.



libertyshares.ca FLJA FFE 01/20


Abc

Franklin FTSE U.S. Index ETFFLAM


Provides access to the U.S. stock market by replicating the FTSEUSA Index, allowing investors to gain precise exposure to the U.S.at a low cost.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark


$387.25M

613

2019-02-20

Passive

Equity

16,200,000


FLAM

353510100

Quarterly


Medium

FTSE U.S. Index

Semi-Annual

EXPENSES

Management Fee


0.07%

0.08%.

MANAGEMENT



Hailey Harris 1 10


· Execute views on U.S. within your regional North American exposure.

· Provides targeted exposure to large- and mid-sized companies in the U.S.

· Seeks to provide investment results that closely correspond, before fees and expenses, to theperformance of the FTSE U.S. Index.

REASONS TO INVEST

2019..

TOTAL RETURNS (%)

FLAM NAV 2.18 2.18 7.63 10.05 -- -- 18.28FTSE U.S. Index 2.17 2.17 7.59 9.96 -- -- 18.08

2019..2019..

YTD 1 MO 3 MO 6 MO 1 YR 3 YR SINCE INC. 2019-02-20



Apple Inc.

Microsoft Corp.

Alphabet Inc.

Amazon.com, Inc.

Facebook Inc.

Berkshire Hathaway Inc.

JPMorgan Chase & Co.

Johnson & Johnson

Visa Inc.

Procter & Gamble Co. 1.11%1.22%1.42%1.48%1.56%1.73%2.98%3.07%4.62%4.93%

TOP TEN HOLDINGS



--


Information TechnologyHealth CareFinancialsCommunication ServicesConsumer DiscretionaryIndustrialsConsumer StaplesEnergyUtilitiesReal EstateMaterialsCash & Cash Equivalents 0.15%

2.38%3.03%3.50%3.77%7.00%8.84%

10.26%10.38%12.79%13.52%24.37%

SECTOR ALLOCATION


Std Deviation1 Year

FLAM 3.38 22.48 --

FUND MEASURES

>50.0 Billion 76.2925.0-50.0 Billion 13.1610.0-25.0 Billion 9.265.0-10.0 Billion 1.182.0-5.0 Billion 0.05<2.0 Billion --N/A 0.05







libertyshares.ca FLAM FFE 01/20


Abc

Franklin Liberty Canadian InvestmentGrade Corporate ETF FLCI


The ETF seeks to provide long-term capital growth and currentincome by investing primarily in investment grade corporate debtissued by Canadian corporations. It may invest in asset-backed ormortgage-backed securities, and Canadian dollar-denominated debtissued by foreign corporations.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark

$106.95M

185

2017-05-30

Active

Fixed Income

5,350,000


FLCI

353768104

Monthly


Low

FTSE Canada All Corporate Bond Index

EXPENSES

Management Fee


0.35%

0.39% .

MANAGEMENT

Adrienne Young, CFA®, MBA 5 25

Darcy Briggs, CFA® 15 26


Stability of high quality Canadian fixed incomeDesigned for investors seeking a high-quality Canadian fixed income alternative, with compellingmonthly income potential

Actively managed, risk-adjusted returnsActive management approach focusses on maximizing risk-adjusted returns and reducing marketrisks.

Easier access to a spare asset classCompetitively-priced solution that provides individual investors access to sparsely available Canadiancorporate bonds.

REASONS TO INVEST

2017..

TOTAL RETURNS (%)

FLCI NAV 2.87 2.87 2.85 3.55 9.32 -- 4.09FTSE Canada All Corporate Bond Index 2.68 2.68 2.79 3.42 9.11 -- 4.39

2.

2.




TD Capital Trust IV, junior sub. bond, 6.631% to 6/30/21, FRN thereafter, 6/30/2108

407 International Inc., sub. secured note, 2006-D1, 5.75%, 2/14/36

Bank of America Corp., senior note, FRN, 3.301%, 4/24/24

Bank of Montreal, senior note, 3.19%, 3/01/28

Hydro One Inc., senior bond, 6.03%, 3/03/39

Hydro One Inc., senior bond, 4.89%, 3/13/37

Bank of Montreal, senior note, 2.70%, 9/11/24

TransCanada PipeLines Ltd., senior note, 7.90%, 4/15/27

TransCanada PipeLines Ltd., 8.23%, 1/16/31

Bank of Nova Scotia, senior note, 3.10%, 2/02/28 1.36%1.44%1.44%1.49%1.99%2.08%2.16%2.36%2.45%3.31%

TOP TEN HOLDINGS



libertyshares.ca 52Dealer Use Only / Not for Distribution to the Public

FinancialEnergyInfrastructureCommunicationReal EstateIndustrialSecuritizationCash & Cash Equivalents 0.08%

2.39%3.89%4.29%9.11%

15.96%24.25%40.02%

SECTOR ALLOCATION (% MARKET VALUE)** FUND MEASURES

Average Duration

Average Weighted Maturity

Yield to Maturity

Yield to Worst

Average Coupon

Average Credit Quality

6.71 Years

8.84 Years

2.68%

2.53%

4.21%

A-

AAAAAABBBCash & Cash Equivalents 0.08%

46.97%39.07%11.49%

2.39%

CREDIT QUALITY ALLOCATION* (% MARKET VALUE)**

libertyshares.ca ©2017 Franklin Templeton Investments Corp. All rights reserved.

*Ratings shown are assigned by one or more Nationally Recognized Statistical Rating Organizations ('NRSRO'), such as Standard & Poor's, Moody's and Fitch. The ratings are an indication of an issuer'screditworthiness and typically range from AAA or Aaa (highest) to D (lowest). When ratings from all three agencies are available, the middle rating is used; when two are available, the lowest rating is used;and when only one is available, that rating is used. Foreign government bonds without a specific rating are assigned the country rating provided by an NRSRO, if available. The NR category consists of ratablesecurities that have not been rated by an NRSRO. The N/A category consists of nonratable securities (e.g., equities). Cash includes equivalents, which may be rated.

**Market value figures reflect the trading value of the investments. Market value figures may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

GLOSSARY

Average Duration: A measure of the price sensitivity (the value of principal) of a fixed income investment to a change in interest rates. Duration is expressed as number of years.

Average Weighted Maturity: An estimate of the number of terms to maturity, taking the possibility of early payments into account, for the underlying holdings.

Yield to Maturity: The rate of return anticipated on a bond if it is held until the maturity date. Yield to maturity is considered a long-term bond yield expressed as an annual rate. The calculation of yield tomaturity takes into account the current market price, par value, coupon rate and time to maturity. It is also assumed that all coupons are reinvested at the same rate.



Performance of an ETF may vary significantly from the performance of an index, as a result of transaction costs, expenses and other factors. The indicated rates of return are the historical annual compoundedtotal returns including changes in share or unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payableby any security holder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Franklin Templeton Investments Canada is a business name used by Franklin Templeton Investments Corp.

FLCI FFE 01/20


Franklin Liberty Core Balanced ETF FLBA


Seeks to provide long-term capital growth and some income byinvesting primarily in a balanced allocation of North American equityand fixed income securities. The equity-to-fixed-income allocationmay change slightly based on changes in market valuation or theportfolio managers' views on market conditions.

.


FUND OVERVIEW

Total Net Assets

Number of Securitiesex-Cash

Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Trailing 12 Month Yield

Current Yield

Eligibility

Risk Rating

Benchmark

$6.65M

299

2018-01-29

Active

Multi-Asset

300,000


FLBA

35376K107

Quarterly

--

3.36


Low

Custom Franklin Liberty Core Balanced ETF Index

EXPENSES

Management Fee


0.45%

0.50%

MANAGEMENT


Brian A. Calder 18 21

Izabel Flis, CFA® 19 19

Tim Caulfield, CFA® 13 20


Core portfolio holdingAn actively managed ETF which seeks capital appreciation and some income by providing Canadianinvestors with direct access to primarily North American equity and fixed income securities.

Access to broad market opportunitiesThe portfolio's diversified equity sector allocation is comprised of companies with attractive quality,value, growth and risk profiles and complemented by a multi-sector, high-quality fixed incomecomponent.

Seeks lower volatility than the general marketThe equity component of the portfolio targets volatility levels below those of overall Canadian andU.S. markets, complemented by the fixed income allocation.

REASONS TO INVEST

2018..

TOTAL RETURNS (%)

FLBA NAV 2.72 2.72 3.86 5.76 13.79 -- 7.79

Custom Franklin Liberty Core Balanced ETF Index* 2.32 2.32 4.64 6.14 14.17 -- 8.15

2018..2018..




Province of Ontario, 6.50%, 3/08/29

PSP Capital Inc., senior note, Reg S, 3.29%, 4/04/24

Province of Alberta, 3.90%, 12/01/33

Canada Post Corp., senior bond, 4.36%, 7/16/40


Alphabet Inc., C

Province of New Brunswick, 4.55%, 3/26/37

The Toronto-Dominion Bank


Province of Manitoba, 6.30%, 3/05/31 1.73%2.00%2.03%2.05%2.11%2.28%2.60%2.90%2.91%3.18%

TOP TEN HOLDINGS

Equity 54.90%Fixed Income 44.69%Cash & Cash Equivalents 0.41%

ASSET ALLOCATION (% MARKET VALUE)***




RISK MEASURES

FLBA 0.82 3.87Custom Franklin Liberty Core Balanced ETF Index -- 4.37

2020-..

2020-..

FinancialsEnergyConsumer StaplesCommunication ServicesInformation TechnologyHealth CareUtilitiesIndustrialsConsumer DiscretionaryMaterialsReal Estate 3.01%

5.34%5.73%6.06%6.31%6.87%7.69%8.93%

10.62%12.31%27.14%

EQUITY SECTOR ALLOCATION (% EQUITY MARKET VALUE)***

ProvincialFederalFinancialEnergyMunicipalIndustrialInfrastructureReal Estate 1.68%

1.82%5.03%5.81%

10.93%17.63%20.33%36.77%

FIXED INCOME SECTOR ALLOCATION (% FIXED INCOME MARKET VALUE)***

FUND MEASURES

P/E Ratio (Trailing 12 Months)

P/B Ratio

Average Duration


Yield to Maturity

Yield to Worst

Average Coupon


18.60

2.61

7.57 Years

9.48 Years

2.18%

2.16%

3.86%

AA-

AAAAAABBB 13.13%

26.95%36.90%23.02%

CREDIT QUALITY ALLOCATION** (% FIXED INCOME MARKET VALUE)***

CanadaUnited StatesAustraliaBelgiumColombiaCash & Cash Equivalents 0.41%

0.01%0.43%1.21%

30.81%67.13%

GEOGRAPHIC ALLOCATION (% MARKET VALUE)***


*Custom Franklin Liberty Core Balanced ETF Index comprised of 45.0% FTSE Canada Universe Bond Index, 27.5% S&P/TSX Composite Total Return Index, and 27.5% S&P 500 Total Return Index(unhedged to CAD).aaa**Ratings shown are assigned by one or more Nationally Recognized Statistical Rating Organizations ('NRSRO'), such as Standard & Poor's, Moody's and Fitch. The ratings are an indication of an issuer'screditworthiness and typically range from AAA or Aaa (highest) to D (lowest). When ratings from all three agencies are available, the middle rating is used; when two are available, the lowest rating is used;and when only one is available, that rating is used. Foreign government bonds without a specific rating are assigned the country rating provided by an NRSRO, if available. The NR category consists ofratable securities that have not been rated by an NRSRO. The N/A category consists of nonratable securities (e.g., equities). Cash and equivalents are excluded from this breakdown.aaa***Market value figures reflect the trading value of the investments. Market value figures may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

GLOSSARYTrailing 12 Month Yield: Calculated as the sum of a ETF's total trailing 12-month interest and dividend payments divided by the last month's ending share price (NAV) plus any capital gains distributed overthe same period.aaaCurrent Yield: Calculated as the sum of the ETF's distribution amount over the last month and multiplying that by 12 months.aaaAverage Duration: A measure of the price sensitivity (the value of principal) of a fixed income investment to a change in interest rates. Duration is expressed as number of years.aaaAverage Weighted Maturity: An estimate of the number of terms to maturity, taking the possibility of early payments into account, for the underlying holdings.aaaYield to Maturity: The rate of return anticipated on a bond if it is held until the maturity date. Yield to maturity is considered a long-term bond yield expressed as an annual rate. The calculation of yield tomaturity takes into account the current market price, par value, coupon rate and time to maturity. It is also assumed that all coupons are reinvested at the same rate.

IMPORTANT INFORMATIONCommissions, management fees and expenses may all be associated with investments in ETFs. Investors should carefully consider an ETF's investment objectives and strategies, risks, fees and expensesbefore investing. The prospectus and ETF facts contain this and other information. Please read the prospectus and ETF facts carefully before investing.ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF's net asset value. Brokerage commissions and ETF expenses will reduce returns.aaaPerformance of an ETF may vary significantly from the performance of an index, as a result of transaction costs, expenses and other factors. The indicated rates of return are the historical annualcompounded total returns including changes in share or unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or incometaxes payable by any security holder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.aaaCFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.aaaFranklin Templeton Investments Canada is a business name used by Franklin Templeton Investments Corp.

FLBA FFE 01/20

Beta Standard Deviation (1 Year)


Abc

Franklin Liberty Core Plus Bond ETFFLCP


The ETF seeks to provide high current income and some long-termcapital appreciation through exposure to Canadian fixed-incomesecurities, including federal and provincial government andcorporate bonds, debentures and short-term notes, by investingsubstantially all of its assets in securities of Franklin Bissett CorePlus Bond Fund (or its successor fund).

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark

$42.80M

420

2019-07-08

Active

Fixed Income

2,250,000


FLCP

35377L104

Monthly


Low

FTSE Canada Universe Bond Index

EXPENSES

Management Fee


0.55%

0.62% .

MANAGEMENT


Thomas O'Gorman, CFA® 9 30


An experienced bond investorWith nearly 30 years of fixed income experience, Franklin Bissett provides investors with a wealth ofsuccessful bond investment expertise.

Lower portfolio riskAdding bonds to a portfolio can lower volatility by providing added stability and a regular stream ofincome, which is reassuring an any market environment.

"Core Plus" InvestingThe fund's primary investment focus is on core bonds issued in Canada with the potential forenhanced returns through global diversification.

REASONS TO INVEST

2019..

TOTAL RETURNS (%)

Information displayed is for the Franklin Bissett Core Plus Bond Fund in which the fund primarily invests.

FLCP NAV 3.08 3.08 2.71 3.53 -- -- 4.67FTSE Canada Universe Bond Index 2.91 2.91 2.21 3.07 -- -- 3.87




U.S. Treasury Bond, 2.25%, 8/15/49

U.S. Treasury Note, 1.75%, 11/15/29


Canada Housing Trust No. 1, second lien, 144A, 1.90%, 9/15/26


Province of Alberta, 2.55%, 6/01/27



Province of New Brunswick, 4.55%, 3/26/37

CPPIB Capital Inc., senior note, Reg S, 1.95%, 9/30/29 1.26%1.30%1.32%1.36%1.47%1.51%1.55%2.50%2.67%3.14%

TOP TEN HOLDINGS

For any LibertyShares ETF that invests in one or more underlying fund(s), the number of holdings displayed representsthose of the underlying fund(s).



56 libertyshares.ca 56Dealer Use Only / Not for Distribution to the Public

ProvincialFederalEnergyFinancialBank LoansInfrastructureIndustrialCommunicationReal EstateMunicipalSecuritizationOtherCash & Cash Equivalents 0.80%

-0.25%1.39%1.82%2.31%4.06%4.50%5.18%4.68%

13.34%13.91%23.85%24.42%

SECTOR ALLOCATION* (% MARKET VALUE)**

For any LibertyShares ETF that invests in one or more underlying fund(s), the sector allocationdisplayed represents those of the underlying fund(s).

FUND MEASURES*

Average Duration


Yield to Maturity

7.83 Years

10.84 Years

2.73%

CanadaUnited StatesAustraliaUnited KingdomBelgiumGermanyCurrency DerivativesCash & Cash Equivalents 0.82%

-0.02%0.06%0.21%0.54%1.41%

11.39%85.95%

GEOGRAPHIC ALLOCATION* (% MARKET VALUE)**

For any LibertyShares ETF that invests in one or more underlying fund(s), the geographic allocationdisplayed represents those of the underlying fund(s).The definition of cash may not match the definition of “cash and cash equivalents” listed in the fundfacts or management reports of fund performance for the fund, which includes bonds that have aremaining term to maturity of 365 days or less that are issued by certain governments, supranationalagencies or financial institutions and have a “designated rating” (as defined in Canadian securitieslaw). As such, the cash amounts listed may differ.


*Information displayed is for the Franklin Bissett Core Plus Bond Fund in which the fund primarily invests.


GLOSSARY









FLCP FFE 01/20


Abc

Franklin Liberty Global AggregateBond ETF (CAD-Hedged) FLGA


This ETF seeks to maximize total investment return, consisting of acombination of interest income and capital appreciation by investingprimarily in investment grade fixed or floating-rate debt securitiesissued by governments, government related entities (includingsupranational organizations supported by several nationalgovernments) and corporations worldwide.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP

Distribution Frequency

Eligibility

Risk Rating

Benchmark

$626.09M

124

2018-05-14

Active

Fixed Income

28,700,000


FLGA

35377B106

Monthly


Low

Bloomberg Barclays Global Aggregate Index(100% Hedged into CAD)

MANAGEMENT

David Zahn 13 26John Beck 30 33Patrick A. Klein 14 15Sonal Desai 10 26


FUND MEASURES*

Average Duration...Average Weighted Maturity...Yield to Maturity...Yield to Worst...Average Coupon...Average Credit Quality

8.01 Years...

9.98 Years...

3.27%...

3.25%...

3.44%...A

· Provides access to investments in government bonds, sovereign bonds and corporate bonds.

· Disciplined investment process that applies top-down macro views and bottom-up fundamentalresearch to a universe of government, sovereign and corporate bonds outside the U.S.

· Diversified exposure to investment grade bonds globally with a Canadian-dollar currency hedge.

REASONS TO INVEST

TOTAL RETURNS (%)

FLGA NAV 1.97 1.97 1.86 3.17 9.88 -- 7.20

Bloomberg Barclays Global Aggregate (100%Hedged into CAD) Index 1.82 1.82 1.46 2.97 8.36 -- 6.55

2018-05-142018-05-14




Queensland Treasury Corp., senior bond, 144A, Reg S, 3.25%, 8/21/29

Government of Japan, senior note, .10%, 10/01/21

Government of Poland, 5.75%, 4/25/29

Government of Japan, senior bond, 1.00%, 12/20/35

Government of Spain, senior bond,144A, Reg S, 1.85%, 7/30/35

U.S. Treasury Bond, Index Linked, 1.75%, 1/15/28

Government of Poland, 2.50%, 7/25/27

Government of Belgium, Reg S, 1.25%, 4/22/33

Italy Treasury Bond, senior bond, 5.50%, 9/01/22

Italy Buoni Poliennali Del Tesoro, Reg S, 144A, 2.45%, 9/01/50 2.20%2.25%2.30%3.11%3.55%3.75%4.10%4.26%4.89%6.17%

TOP TEN HOLDINGS

EXPENSES

Management Fee


0.35%

0.38% .

RISK MEASURES

Standard Deviation (1 Yr)

FLGA 3.28

Bloomberg Barclays Global Aggregate (100% Hedged into CAD) Index 3.20

.

.



United StatesJapanPolandSpainAustraliaMexicoItalyCanadaBelgiumFranceOtherCash & Cash Equivalents 3.25%

25.43%2.58%3.14%3.21%5.79%3.71%6.17%4.68%7.37%8.99%

25.67%

GEOGRAPHIC ALLOCATION (% MARKET VALUE)***

Canadian DollarJapanese YenNorwegian KroneIndonesian RupiahMexican PesoUS DollarSouth African RandColombian PesoDominican PesoUruguayan PesoTurkish LiraArgentine PesoAustralian DollarHungarian ForintDanish KronePolish ZlotyEuro -5.68%

-0.08%-0.03%-0.02%0.03%0.12%0.29%0.51%0.54%0.57%0.98%1.11%1.63%1.87%2.94%3.93%

91.28%

CURRENCY EXPOSURE (% NOTIONAL VALUE)***

AAAAAABBBBBBCCCN/ACash & Cash Equivalents 3.25%

-1.02%1.22%3.96%3.27%

24.65%34.08%11.22%19.36%

CREDIT QUALITY ALLOCATION** (% MARKET VALUE)***

EMU GovtUSD IG CorpNon-EMU EuropeJapan GovtUS Govt / AgencyAsia ex-JapanAmericas ex-USSovereignUSD SecuritizedEuro IG CorpQuasi-SovereignUSD HY CorpCovered BondsCurrency DerivativesEuro HY CorpOtherCash & Cash Equivalents 3.25%

1.47%0.68%

-1.02%1.96%2.45%2.59%3.25%5.67%7.82%7.52%8.35%8.76%8.99%8.82%

12.83%16.60%

SECTOR ALLOCATION (% MARKET VALUE)***

GLOSSARY

Average Duration: A measure of the price sensitivity (the value of principal) of a fixed income investment to a change in interest rates. Duration is expressed as number of years.--Average Weighted Maturity: An estimate of the number of terms to maturity, taking the possibility of early payments into account, for the underlying holdings.--Yield to Maturity: The rate of return anticipated on a bond if it is held until the maturity date. Yield to maturity is considered a long-term bond yield expressed as an annual rate. The calculation of yield tomaturity takes into account the current market price, par value, coupon rate and time to maturity. It is also assumed that all coupons are reinvested at the same rate.



Performance of an ETF may vary significantly from the performance of an index, as a result of transaction costs, expenses and other factors. The indicated rates of return are the historical annualcompounded total returns including changes in share or unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or incometaxes payable by any security holder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.



*Figures shown for Average Duration, Weighted Average Maturity Yield to Maturity, Yield to Worst and Average Coupon reflect certain derivatives held in the portfolio (or their underlying reference assets).---**Ratings shown are assigned by one or more Nationally Recognized Statistical Rating Organizations ('NRSRO'), such as Standard & Poor's, Moody's and Fitch. The ratings are an indication of an issuer'screditworthiness and typically range from AAA or Aaa (highest) to D (lowest). When ratings from all three agencies are available, the middle rating is used; when two are available, the lowest rating is used;and when only one is available, that rating is used. Foreign government bonds without a specific rating are assigned the country rating provided by an NRSRO, if available. The NR category consists of ratablesecurities that have not been rated by an NRSRO. The N/A category consists of nonratable securities (e.g., equities). Cash includes equivalents, which may be rated.--***Notional exposure figures are intended to estimate the portfolio’s exposure, including any hedged or increased exposure through certain derivatives held in the portfolio (or their underlying reference assets).Market value figures reflect the trading value of the investments. Notional and market value figures may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or otherfactors.

FLGA FFE 01/20


Abc

Franklin Liberty Risk ManagedCanadian Equity ETF FLRM


Seeks to provide long-term capital appreciation with reducedvolatility relative to the broad Canadian equity market by investingprimarily in a diversified portfolio of Canadian equities. Theinvestment approach incorporates a mix of historical and projectedfinancial and stock market data, designed to identify factorsmeasuring growth, value, low volatility and momentum.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark

$19.86M

127

2017-05-30

Active

Equity

900,000


FLRM

353769102

Quarterly


Medium

S&P/TSX Composite Index

EXPENSES

Management Fee


0.30%

0.36% .

MANAGEMENT

Izabel Flis, CFA® 19 19

Tim Caulfield, CFA® 13 20


Differentiated equity strategy with emphasis on reducing risksA differentiated Canadian equity solution, developed to produce below-market volatility through amulti-layered risk reduction approach.

Multi-factor approach for compelling risk-adjusted returnsA multi-factor, rules-based investment process resulting in a broader investment universe for apotentially compelling risk profile and risk-adjusted returns.

Distinctive approach to rules-based investingThe strength of the investment process lies in its objectivity and rigor, a process that is continuallyevaluated and refined over time.

REASONS TO INVEST

2017..

TOTAL RETURNS (%)

FLRM NAV 1.61 1.61 3.77 4.88 11.47 -- 6.10S&P/TSX Composite Index 1.74 1.74 5.88 7.20 14.98 -- 7.81

2017..2017..





Toronto-Dominion Bank

Enbridge, Inc.

Canadian National Railway Co.

Bank Of Nova Scotia/The

TC Energy Corp.

Bank of Montreal

BCE Inc.

Canadian Pacific Railway Ltd.

Canadian Imperial Bank Of Commerce 2.63%2.64%3.06%3.53%3.68%4.80%4.86%5.95%7.26%8.18%

TOP TEN HOLDINGS



--


RISK MEASURES

FinancialsEnergyIndustrialsMaterialsCommunication ServicesUtilitiesConsumer StaplesConsumer DiscretionaryReal EstateInformation TechnologyIndexHealth CareCash & Other Net Assets 2.02%

0.00%0.33%2.21%2.56%3.45%4.96%5.14%7.30%9.44%

12.72%15.45%34.43%

SECTOR ALLOCATION

FLRM 0.84 5.50

S&P/TSX Composite Index -- 6.34

Name P/B Ratio P/E Ratio(Trailing 12 Months)

FLRM 1.94 15.40

S&P/TSX Composite Index 1.90 15.49

2020-01-31

2020-01-31

PORTFOLIO STATISTICS

CanadaUnited StatesAustraliaColombiaCash & Cash Equivalents 2.02%

0.03%0.10%1.94%

95.91%









FLRM FFE 01/20


Abc

Franklin Liberty Senior Loan ETF(CAD-Hedged) FLSL


Seeks to provide a high level of current income and preservation ofcapital by investing primarily in senior secured income producingfloating rate corporate loans made to, and corporate debt securitiesissued by, U.S. and non-U.S. entities.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark

$7.70M

51

2018-05-14

Active

Fixed Income

400,000


FLSL

35376R102

Monthly


Low to Medium

S&P/LSTA Leveraged Loan 100 Index(CAD-Hedged)

EXPENSES

Management Fee


0.45%

0.50% .

MANAGEMENT

Reema Agarwal 15 23

Justin Ma, CFA® 13 13

Margaret Chiu 7 7


· Provides access to investments in floating rate bonds which adjust interest payments accordingly tointerest rate changes.

· Seeks to provide attractive income, manage interest rate risk and provide diversification relative toother fixed income asset classes.

· Actively managed by an experienced investment team dedicated to bank loans.

REASONS TO INVEST

2018..

TOTAL RETURNS (%)

FLSL NAV -0.01 -0.01 1.64 1.90 4.37 -- 2.66

Custom Franklin Senior Loan Index CAD Hedged* 0.15 0.15 2.40 2.84 7.16 -- 4.34

S&P/LSTA U.S. Leveraged Loan 100 Index CADHedged 0.20 0.20 2.59 2.50 6.33 -- 3.75

2018-05-142018-05-142018-05-14




*Tracks the investable market of the U.S. dollar denominated leveraged loan market. It consists of issues rated “5B” orlower, meaning that the highest rated issues included in this index are Moody's/S&P ratings of Baal/BB+ or Bal/BBB+. Allloans are funded term loans with a tenor of at least one year and are made by issuers domiciled in developed countries.

DaVita, Inc.

Asurion, LLC

Caesars Resort Collection, LLC

CommScope, Inc.

Sinclair Television Group Inc.

Clarios Global LP (Power Solutions)

Nexstar Broadcasting, Inc.

HCA Inc.

Michaels Stores, Inc.

Valeant Pharmaceuticals International 2.69%2.69%2.70%2.85%2.85%2.90%3.04%3.23%3.35%3.42%

TOP TEN HOLDINGS




Health CareTechnologyRetailersBroadcastingGaming/LeisureFood & BeverageCable SatelliteTransportationFinanceServicesPackagingChemicalsMediaUtilityAerospace & DefenseEnergyHome BuildingTelecommunicationsConsumer ProductsCash & Cash Equivalents 3.85%

0.55%0.72%0.73%1.73%2.11%2.23%2.68%3.77%3.96%4.16%4.38%5.09%6.32%6.42%6.82%7.21%8.44%

10.82%14.96%

SECTOR ALLOCATION (% MARKET VALUE)*** FUND MEASURES*

Average Duration

Life

Average Coupon


Discount Margin

Weighted Average Price

Spread to LIBOR

Time to Reset

Weighted Average Rating Factor

0.11 Years

5.18 Years

4.41%

BB

2.50

100.12

266

35

1,552

BBBBBBNRCash & Cash Equivalents 3.85%

0.18%25.53%60.18%

9.01%



GLOSSARY


Life: An estimate of the number of terms to maturity, taking the possibility of early payments into account, for the underlying holdings.






*Figures shown for Average Duration, Life and Average Coupon reflect certain derivatives held in the portfolio (or their underlying reference assets).

**Ratings shown are assigned by one or more Nationally Recognized Statistical Rating Organizations ('NRSRO'), such as Standard & Poor's, Moody's and Fitch. The ratings are an indication of an issuer'screditworthiness and typically range from AAA or Aaa (highest) to D (lowest). When ratings from all three agencies are available, the middle rating is used; when two are available, the lowest rating is used;and when only one is available, that rating is used. Foreign government bonds without a specific rating are assigned the country rating provided by an NRSRO, if available. The NR category consists of ratablesecurities that have not been rated by an NRSRO. The N/A category consists of nonratable securities (e.g., equities). Cash includes equivalents, which may be rated.

***Market value figures reflect the trading value of the investments. Market value figures may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

FLSL FFE 01/20


Abc

Franklin Liberty Short Duration BondETF FLSD


The ETF seeks to provide high income and preservation of capitalthrough exposure to Canadian fixed-income securities, includingfederal and provincial government and corporate bonds, debenturesand short-term notes, by investing substantially all of its assets insecurities of Franklin Bissett Short Duration Bond Fund (or itssuccessor fund).

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark

$7.97M

335

2019-07-08

Active

Fixed Income

400,000


FLSD

35377H103

Monthly


Low

FTSE Canada Short Term Overall Bond Index

EXPENSES

Management Fee


0.40%

0.45% .

MANAGEMENT




Franklin Bissett's fixed income expertiseFranklin Bissett has been managing fixed income investments for nearly 30 years for individual,institutional and high net-worth clients.

Lower portfolio volatilityAs short-term bonds are generally less sensitive to interest rate movements than longer-term bonds,they can help minimize the impact of rising rates on a portfolio and reduce overall portfolio volatility.

REASONS TO INVEST

2019..

TOTAL RETURNS (%)

Information displayed is for the Franklin Bissett Short Duration Bond Fund in which the fund primarily invests.

FLSD NAV 1.23 1.23 1.47 1.94 -- -- 2.70FTSE Canada Short Term Overall Bond Index 1.04 1.04 0.96 1.47 -- -- 1.90

2.

2.





Canada Housing Trust, secured bond, 144A, 3.80%, 6/15/21








U.S. Treasury Note, 1.75%, 11/15/29 1.36%1.43%1.43%1.44%1.70%1.76%2.11%2.65%3.29%4.04%

TOP TEN HOLDINGS

For any LibertyShares ETF that invests in one or more underlying fund(s), the number of holdings displayed representsthose of the underlying fund(s).



64 libertyshares.ca 64Dealer Use Only / Not for Distribution to the Public

FinancialFederalProvincialEnergyCommunicationIndustrialReal EstateInfrastructureSecuritizationMunicipalBank LoansOtherCash & Cash Equivalents 0.38%

-0.54%0.38%0.76%2.48%3.30%4.88%5.14%6.59%9.35%

18.70%21.52%27.05%

SECTOR ALLOCATION* (% MARKET VALUE)**

For any LibertyShares ETF that invests in one or more underlying fund(s), the sector allocationdisplayed represents those of the underlying fund(s).

FUND MEASURES*

Average Duration


Yield to Maturity

2.71 Years

4.23 Years

2.37%

CanadaUnited StatesGermanyAustraliaUnited KingdomBelgiumCurrency DerivativesCash & Cash Equivalents 0.38%

0.00%0.15%0.74%1.29%1.31%

11.78%77.24%

GEOGRAPHIC ALLOCATION* (% MARKET VALUE)**

For any LibertyShares ETF that invests in one or more underlying fund(s), the geographic allocationdisplayed represents those of the underlying fund(s).The definition of cash may not match the definition of “cash and cash equivalents” listed in the fundfacts or management reports of fund performance for the fund, which includes bonds that have aremaining term to maturity of 365 days or less that are issued by certain governments, supranationalagencies or financial institutions and have a “designated rating” (as defined in Canadian securitieslaw). As such, the cash amounts listed may differ.


*Information displayed is for the Franklin Bissett Short Duration Bond Fund in which the fund primarily invests.


GLOSSARY









FLSD FFE 01/20


Abc

Franklin Liberty U.S. InvestmentGrade Corporate ETF (CAD-Hedged) FLUI


Seeks to provide a high level of current income and preservation ofcapital by investing primarily in U.S. dollar denominated investmentgrade corporate debt securities issued by U.S. and non-U.S.entities.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Benchmark

$18.69M

105

2018-05-14

Active

Fixed Income

850,000


FLUI

353770100

Monthly


Medium

Bloomberg Barclays US Corporate Index(CAD hedged)

EXPENSES

Management Fee


0.35%

0.41% .

MANAGEMENT

Marc Kremer, CFA® 16 32

Shawn Lyons, CFA® 23 24


· Provides access to U.S. and non-U.S. income-producing corporate bonds.

· Exposure to high quality investment grade bonds with a Canadian-dollar currency hedge.

· Used to seek income and as a core fixed income allocation.

REASONS TO INVEST

2018..

TOTAL RETURNS (%)

FLUI NAV 2.21 2.21 2.78 5.65 13.42 -- 9.05

Bloomberg Barclays US Corporate Index (CADHedged) 2.37 2.37 2.91 5.96 13.82 -- 9.44

2018-05-142018-05-14




U.S. Treasury Bond, 2.75%, 11/15/47

Credit Suisse Group Funding Guernsey Ltd., senior note, 3.80%, 9/15/22

Morgan Stanley, senior bond, 3.591% to 7/22/27, FRN thereafter, 7/22/28

Microsoft Corp., senior note, 2.65%, 11/03/22

Truist Financial Corp., sub. bond, 3.875%, 3/19/29

Bank of America Corp., sub. bond, 4.183%, 11/25/27

The Goldman Sachs Group Inc., sub. note, 4.25%, 10/21/25

BPCE SA, sub. bond, Reg S, 5.15%, 7/21/24

Virginia Electric & Power Co., senior note, 3.50%, 3/15/27

BNP Paribas SA, senior note, to, 4.705%, 1/10/25 1.55%1.56%1.58%1.58%1.62%1.65%1.76%1.76%1.88%3.17%

TOP TEN HOLDINGS




FinanceEnergyHealth CareUtilityTechnologyFood & BeverageRetailersTreasury & Govt. RelatedWiredCable SatelliteTransportationIndustrialConsumer Cyclical ServicesPaperConsumer ProductsSupermarketsAerospace & DefenseChemicalsLodgingMetals & MiningMedia Non CableOtherCash & Cash Equivalents 2.28%

-0.87%0.57%0.71%0.76%0.76%0.77%0.84%0.90%1.51%1.84%2.47%2.50%2.73%3.51%3.52%4.02%4.18%6.16%7.74%7.76%

12.46%31.85%

SECTOR ALLOCATION (% MARKET VALUE)*** FUND MEASURES*

Average Duration


Yield to Maturity

Yield to Worst

Average Coupon


7.91 Years

10.82 Years

2.84%

2.78%

4.04%

A-

RISK MEASURES (1 YEAR)

Beta

Standard Deviation

Sharpe Ratio

Tracking Error

Information Ratio

0.92

3.64

3.24

0.42

-0.94

AAAAAABBBN/ACash & Cash Equivalents 2.28%

-0.87%58.04%33.01%

2.61%4.93%



GLOSSARY






Performance of an ETF may vary significantly from the performance of an index, as a result of transaction costs, expenses and other factors. The indicated rates of return are the historical annualcompounded total returns including changes in share or unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or incometaxes payable by any security holder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.



*Figures shown for Average Duration, Weighted Average Maturity Yield to Maturity, Yield to Worst and Average Coupon reflect certain derivatives held in the portfolio (or their underlying reference assets).

**Ratings shown are assigned by one or more Nationally Recognized Statistical Rating Organizations ('NRSRO'), such as Standard & Poor's, Moody's and Fitch. The ratings are an indication of an issuer'screditworthiness and typically range from AAA or Aaa (highest) to D (lowest). When ratings from all three agencies are available, the middle rating is used; when two are available, the lowest rating is used;and when only one is available, that rating is used. Foreign government bonds without a specific rating are assigned the country rating provided by an NRSRO, if available. The NR category consists ofratable securities that have not been rated by an NRSRO. The N/A category consists of nonratable securities (e.g., equities). Cash includes equivalents, which may be rated.

***Market value figures reflect the trading value of the investments. Market value figures may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

FLUI FFE 01/20


Abc

Franklin LibertyQT Emerging MarketsIndex ETF FLEM


The fund seeks to provide investment results that closelycorrespond, before fees and expenses, to the performance of itscorresponding underlying index, LibertyQ Emerging Markets Index.The underlying LibertyQ Emerging Markets Index includes stocksfrom emerging markets countries that have favourable exposure tofour investment style factors–quality, value, momentum and lowvolatility.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Investment Universe

Underlying Index


$25.47M

349

2018-01-29

Smart Beta

Equity

1,400,000


FLEM

35376C105

Semi-Annually


Medium

MSCI Emerging Markets Index - NR

LibertyQ Emerging Markets Index

Semi-Annual

EXPENSES

Management Fee


0.55%

0.58% .

MANAGEMENT


Hailey Harris 1 10



Strategic Style Factor Diversication Offers the Potential for Strong Risk-Adjusted PerformanceOur proprietary rules-based approach, which focuses on four investment-styles, is designed to pursuemarket upside with reduced downside, and seeks higher risk-adjusted returns than marketcap-weighted indices over the long-term.

Developed and monitored by seasoned and quantitative ETF specialistsFranklin LibertyQ ETF strategies were developed by Franklin’s team of seven quantitative expertsand are managed by portfolio management professionals who have more than a decade of ETFexperience.

Benefits of Traditional ETF FeaturesETFs typically offer investors daily transparency of fund holdings, no minimum investment and tradingthroughout the day. The structure of ETFs may also allow for more effective management of theETF’s trading costs, portfolio turnover and potential tax liabilities.

REASONS TO INVEST

2018..

TOTAL RETURNS (%)

FLEM NAV -3.51 -3.51 -0.48 1.71 0.74 -- -2.89

MSCI Emerging Markets Index - NR* -2.76 -2.76 2.95 4.10 4.54 -- -2.80




*Net Returns (NR) include income net of tax withholding when dividends are paid.

MMC Norilsk Nickel PJSC

Infosys Ltd.

SK Hynix Inc.

Taiwan Semiconductor Manufacturing Co Ltd.

Lukoil PJSC

China Mobile Ltd.

Samsung Electronics Co Ltd.

Vale SA

Wal-Mart De Mexico SAB DE CV

Al Rajhi Bank 1.03%1.03%1.05%1.05%1.07%1.08%1.10%1.11%1.11%1.20%

TOP TEN HOLDINGS



RISK MEASURES

FinancialsEnergyMaterialsConsumer StaplesInformation TechnologyCommunication ServicesConsumer DiscretionaryIndustrialsUtilitiesReal EstateHealth CareCash & Cash Equivalents 0.59%

1.06%2.07%3.40%3.51%8.31%

11.15%11.58%11.84%13.60%13.82%19.06%

SECTOR ALLOCATION

FLEM 0.68 8.34

MSCI Emerging Markets Index - NR -- 11.23

2020-01-31

2020-01-31


FLEM 1.45 10.55

MSCI Emerging Markets Index - NR 1.66 13.94

2020-01-31

2020-01-31


ChinaTaiwanIndiaRussiaSouth KoreaBrazilThailandSouth AfricaIndonesiaSaudi ArabiaOtherCash & Cash Equivalents 0.59%

12.71%2.45%2.63%3.10%4.28%9.13%

10.09%10.89%11.54%13.17%19.43%






The LibertyQ Emerging Markets Index is a custom index based on the MSCI Emerging Markets Index and is owned and independently calculated and maintained by MSCI. The methodology forthe Index is publicly available on the MSCI website. The Franklin LibertyQT Emerging Markets Index ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc.MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQT Emerging Markets Index ETF. See the prospectus of Franklin LibertyQT EmergingMarkets Index ETF for further information.

All MSCI information is provided "as is". The ETF described herein is not sponsored or endorsed by MSCI. In no event shall MSCI, its affiliates, or any MSCI data provider have any liability of any kind inconnection with the MSCI data or the ETF described herein. Copying or redistributing the MSCI data is strictly prohibited.


libertyshares.ca


FLEM FFE 01/20



Abc

Franklin LibertyQT Global DividendIndex ETF FLGD


The fund seeks to provide investment results that closelycorrespond, before fees and expenses, to the performance of itscorresponding underlying index, LibertyQ Global Dividend Index.The underlying LibertyQ Global Dividend Index includes stocks fromdeveloped and emerging market countries with high and persistentdividend income that have favorable exposure to the qualityinvestment-style factor.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Investment Universe

Underlying Index


$10.82M

100

2018-01-29

Smart Beta

Equity

500,000


FLGD

35376A109

Monthly


Low to Medium

MSCI AC World ex-REITS Index - NR

LibertyQ Global Dividend Index

Quarterly

EXPENSES

Management Fee


0.45%

0.51% .

MANAGEMENT


Hailey Harris 1 10



Potential for Strong Risk-Adjusted PerformanceOur proprietary rules-based approach, which focuses on the quality investment style factor, isdesigned to pursue market upside with reduced downside, and seeks higher risk-adjusted returnsthan market cap-weighted indices over the long-term.

Developed and monitored by seasoned and quantitative ETF specialistsFranklin LibertyQ ETF strategies were developed by Franklin’s team of seven quantitative expertsand are managed by portfolio management professionals who have more than a decade of ETFexperience.

Benefits of Traditional ETF FeaturesETFs typically offer investors daily transparency of fund holdings, no minimum investment and tradingthroughout the day. The structure of ETFs may also allow for more effective management of theETF’s trading costs, portfolio turnover and potential tax liabilities.

REASONS TO INVEST

2018..

TOTAL RETURNS (%)

FLGD NAV 0.60 0.60 3.06 6.78 15.59 -- 6.93MSCI AC World ex-REITS Index - NR* 0.81 0.81 5.65 8.20 16.88 -- 6.62





Johnson & Johnson

Roche Holding AG

Intel Corp.

McDonald's Corp.

Lockheed Martin Corp

Kimberly-Clark Corp.

GlaxoSmithKline PLC

International Business Machines Corp.

Novartis AG

Taiwan Semiconductor Manufacturing Co Ltd. 2.07%2.07%2.10%2.11%2.12%2.15%2.16%2.17%2.21%2.22%

TOP TEN HOLDINGS



--


RISK MEASURES

FinancialsInformation TechnologyConsumer DiscretionaryConsumer StaplesHealth CareIndustrialsCommunication ServicesMaterialsReal EstateEnergyUtilitiesCash & Cash Equivalents 0.28%

0.41%0.87%1.83%1.72%6.17%9.50%

10.88%12.54%12.70%13.14%29.96%

SECTOR ALLOCATION

FLGD 0.68 6.35

MSCI AC World ex-REITS Index - NR -- 8.82

202..

202..


FLGD 3.08 16.36

MSCI AC World ex-REITS Index - NR 2.39 18.70

2020-01-31

2020-01-31


United StatesUnited KingdomAustraliaSwitzerlandCanadaJapanFinlandTaiwanGermanySouth AfricaOtherCash & Cash Equivalents 0.28%

13.72%2.38%2.77%2.68%3.24%3.88%6.18%6.64%8.45%

10.36%39.41%


Portfolio holdings are subject to change. Issuers, Holdings, Sector Exposure and Geographic Allocation figures reflect certain derivatives held in the portfolio (or their underlying reference assets) and may nottotal 100% or may be negative due to rounding, use of any derivatives, unsettled trades or other factors.




The LibertyQ Global Dividend Index is a custom index based on the MSCI AC World ex-REITS Index and is owned and independently calculated and maintained by MSCI. The methodology forthe Index is publicly available on the MSCI website. The Franklin LibertyQT Global Dividend Index ETF is not sponsored, endorsed, issued, sold or promoted by or aliated with MSCI Inc. MSCIInc. does not make any representation regarding the advisability of investing in the Franklin LibertyQT Global Dividend Index ETF. See the prospectus of Franklin LibertyQT Global DividendIndex ETF for further information.



libertyshares.ca


FLGD FFE 01/20


Abc

Franklin LibertyQT InternationalEquity Index ETF FLDM


The ETF seeks to deliver investment results that closely correspond,before fees and expenses, to the performance of the LibertyQInternational Equity Index. The underlying index seeks to achieve alower level of risk and higher risk-adjusted performance than theMSCI EAFE Index over the long term.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Investment Universe

Underlying Index


$12.28M

231

2017-06-05

Smart Beta

Equity

600,000


FLDM

353771108

Semi-Annually


Medium

MSCI EAFE Index - NR

LibertyQ International Equity Index

Semi-Annual

EXPENSES

Management Fee


0.40%

0.46% .

MANAGEMENT


Hailey Harris 1 10



Strategic style factor diversification offers the potential for strong risk-adjusted performanceOur proprietary rules-based approach to international equity, which focuses on four investment-styles,is designed to pursue market upside with reduced downside, and seeks higher risk-adjusted returnsthan market cap-weighted indices over the long-term.

Developed and monitored by seasoned and quantitative ETF specialistsFranklin LibertyQT ETF strategies were developed by our team of quantitative experts and aremanaged by portfolio management professionals who have more than a decade of ETF experience.

Benefits of traditional ETF featuresETFs typically offer investors daily transparency of fund holdings, no minimum investmentrequirements and trading throughout the day. The structure of ETFs may also allow for more effectivemanagement of the ETF’s trading costs, portfolio turnover and potential tax liabilities.

REASONS TO INVEST

2017..

TOTAL RETURNS (%)

FLDM NAV 1.08 1.08 3.62 8.29 13.50 -- 3.46MSCI EAFE Index - NR* -0.14 -0.14 2.87 6.88 12.89 -- 3.45

2017..2017..





CSL Ltd.

Roche Holding AG

GlaxoSmithKline PLC

Sanofi

Novo Nordisk A/S

Commonwealth Bank Of Australia

BHP Group Ltd.

Rio Tinto PLC

Unilever NV

Diageo PLC 1.91%1.91%1.95%2.04%2.05%2.07%2.08%2.08%2.18%2.21%

TOP TEN HOLDINGS



--

RISK MEASURES

Consumer DiscretionaryHealth CareConsumer StaplesFinancialsMaterialsIndustrialsCommunication ServicesUtilitiesReal EstateEnergyInformation TechnologyCash & Cash Equivalents 0.21%

2.52%3.16%3.19%4.86%9.00%9.04%

10.98%12.38%12.68%15.42%16.56%

SECTOR ALLOCATION

FLDM 0.70 5.67

MSCI EAFE Index - NR -- 7.66

.

.


FLDM 2.05 15.20

MSCI EAFE Index - NR 1.63 16.49

01-31

01-31


United KingdomJapanAustraliaFranceSwitzerlandSpainItalyDenmarkGermanySwedenOtherCash & Cash Equivalents 0.21%

8.44%1.80%2.04%3.21%3.28%3.78%4.00%4.57%

21.90%22.04%24.72%






The LibertyQ International Equity Index is a custom index based on the MSCI EAFE Index and is owned and independently calculated and maintained by MSCI. The methodology for the Index ispublicly available on the MSCI website. The Franklin LibertyQT International Equity Index ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc.does not make any representation regarding the advisability of investing in the Franklin LibertyQT International Equity Index ETF. See the prospectus of Franklin LibertyQT International EquityIndex ETF for further information.



libertyshares.ca


FLDM FFE 01/20



Abc

Franklin LibertyQT U.S. EquityIndex ETF FLUS


The ETF seeks to deliver investment results that closely correspond,before fees and expenses, to the performance of the LibertyQ U.S.Large Cap Equity Index. The underlying index seeks to achieve alower level of risk and higher risk-adjusted performance than theRussell 1000® Index over the long term.

.


FUND OVERVIEW

Total Net Assets


Inception Date

ETF Type

Asset Class

Units Outstanding

Listing Exchange

Ticker

CUSIP


Eligibility

Risk Rating

Investment Universe

Underlying Index


$234.46M

249

2017-06-05

Smart Beta

Equity

8,900,000


FLUS

35376P106

Quarterly


Low to Medium

Russell 1000 Index - NR

LibertyQ U.S. Large Cap Equity Index

Semi-Annual

EXPENSES

Management Fee


0.25%

0.28% .

MANAGEMENT


Hailey Harris 1 10



Strategic style factor diversification offers the potential for strong risk-adjusted performanceOur proprietary rules-based approach to U.S. large cap equity, which focuses on fourinvestment-styles, is designed to pursue market upside with reduced downside, and seeks higherrisk-adjusted returns than market cap-weighted indices over the long-term.

Developed and monitored by seasoned and quantitative ETF specialistsFranklin LibertyQT ETF strategies were developed by our team of quantitative experts and aremanaged by portfolio management professionals who have more than a decade of ETF experience.

Benefits of traditional ETF featuresETFs typically offer investors daily transparency of fund holdings, no minimum investmentrequirements and trading throughout the day. The structure of ETFs may also allow for more effectivemanagement of the ETF’s trading costs, portfolio turnover and potential tax liabilities.

REASONS TO INVEST

2017..

TOTAL RETURNS (%)

FLUS NAV 0.51 0.51 4.52 7.43 18.75 -- 11.75Russell 1000 Index - NR* 2.06 2.06 7.41 9.48 21.56 -- 11.73

2017..2017..





Apple Inc.

Nextera Energy Inc.

Microsoft Corp.

Bristol-Myers Squibb Co

McDonald's Corp.

Intel Corp.

Lockheed Martin Corp.

Coca-Cola Co

Intuit Inc.

Johnson & Johnson 1.07%1.07%1.08%1.08%1.09%1.09%1.10%1.12%1.13%1.15%

TOP TEN HOLDINGS



--

RISK MEASURES

Information TechnologyConsumer DiscretionaryConsumer StaplesIndustrialsHealth CareUtilitiesCommunication ServicesReal EstateEnergyFinancialsMaterialsCash & Cash Equivalents 0.15%

1.98%2.55%3.11%4.59%4.60%7.89%

10.02%13.87%15.32%16.79%19.13%

SECTOR ALLOCATION

FLUS 0.83 8.47

Russell 1000 Index - NR -- 9.72

Abc

Abc


FLUS 4.49 20.26

Russell 1000 Index - NR 3.53 22.34

2020-01-31

2020-01-31


United StatesCash & Cash Equivalents 0.15%

99.85%






Source: FTSE Russell. The LibertyQ U.S. Equity Index is calculated and maintained by FTSE Russell which is designed to reflect the performance of stocks representing a specific set of factorcharacteristics– quality, value, momentum and low volatility. The LibertyQT U.S. Equity Index ETF is not in any way sponsored, endorsed, sold or promoted by Russell or the London StockExchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly orimpliedly, either as to (i) the results to be obtained from the use of the Index (upon which the LibertyQT U.S. Equity Index ETF is based), (ii) the figure at which the Index is said to stand at anyparticular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the LibertyQT U.S. Equity Index ETF. None of theLicensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Franklin Templeton or to its clients. None of the Licensor Partiesshall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein. Frank Russell Company isthe source of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.


libertyshares.ca


FLUS FFE 01/20



A PARTNERSHIP YOU CAN TRUST

AN EXCLUSIVE OPPORTUNITY

A WEALTH OF EXPERIENCE

Fiduciary Trust Canada is a business name used by Fiduciary Trust Company of Canada. Fiduciary Trust Company of Canada is an indirect wholly owned subsidiary of Franklin Resources, Inc., a global investment organization operating as Franklin Templeton.Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. © 2019 Fiduciary Trust Company of Canada. All rights reserved.

Introducing PRIVATE WEALTH POOLS—three exclusive investment portfolios offering strategic asset allocation based on long-term capital market expectations.

Leveraging the 35-plus years of Fiduciary Trust Canada’s proven wealth management expertise, these pools were designed speci� cally for private wealth investors.

To learn more visit franklintempleton.ca/privatewealthpools.

FTCC_EN_PP_8x10.875_ADV_0419.indd 1 4/1/19 2:28 PM


FT Balanced Growth Private Wealth Pool

Private Wealth PoolsFiduciary Trust Canada January 31, 2020

Fund Overview


Inception Date Series PF: 06/01/2017



Benchmark Custom FT BalancedGrowth Private Wealth

Benchmark1

Investment Objective & StrategyThe fund aims to balance current income and long-term capitalappreciation by investing in a diversified mix of equity andincome securities, with a bias towards capital appreciation.

Fund Management


Scott Guitard 11 Years, Calgary, AB Canada

Risk Classification

Low Low toMedium


High


Fixed Income 36.66



CDN$ US$ CDN$ US$Series O TML3962Series PF TML3976Series PF ADM TML5085

1 Custom FT Balanced Growth Private Wealth Benchmark is a blended index composedof the FTSE Canada Universe Bond Index (38%), S&P/TSX Composite Index (20%),S&P 500 Index (20%), MSCI EAFE Index (20%), and FTSE Canada 91 Day TBill Index(2%).

2 The Fund distributes any income and realized net capital gains annually in Decemberand may make distributions at other times during the year.

REASONS TO INVEST IN THIS FUND:• Access to Fiduciary Trust Canada’s proven expertise in managing wealth for affluent families and foundations.• Preferred Pricing – competitive fees that continue to reduce as the investment grows.• Active Management – portfolios are consistently monitored and adjusted to achieve the optimal blend of asset classes,

investment styles, geographic regions and market capitalizations.• A focus on risk management and risk adjusted returns.• Timely market commentary from our investment team, which includes insights on the current state of global markets.


-3.9

12.7

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series PF



Series PF 1.49 1.49 4.12 5.65 11.09 n/a n/a n/a 3.80^ Series inception date

Fund FactsPrice per Unit (Series PF) $10.41


14.69%

MER (06/30/2019 incl. HST) PF: 0.97%

Management Fee PF: 0.70%


paid annually2


Canada 48.09United States 22.31Japan 3.85United Kingdom 3.11South Korea 1.85France 1.73Switzerland 1.49Germany 1.43Australia 1.25Others 14.88

Top Sector Weightings (% Equity)Financials 21.76Information Technology 13.64Industrials 9.80Energy 9.44Health Care 9.17Communication Services 8.58Consumer Staples 8.36Consumer Discretionary 7.89Materials 4.21Utilities 3.84Real Estate 3.30

3976 FFE 0120


FT Balanced Income Private Wealth Pool


Fund Overview




Morningstar Category TM Canadian Fixed IncomeBalanced

Benchmark Custom FT BalancedIncome Private Wealth

Benchmark1

Investment Objective & StrategyThe fund aims to balance current income and long-term capitalappreciation by investing in a diversified mix of equity andincome securities, with a bias towards income.

Fund Management



Risk Classification

Low Low toMedium


High


Equity 37.63




1 Custom FT Balanced Income Private Wealth Benchmark is a blended index composedof the FTSE Canada Universe Bond Index (58%), S&P/TSX Composite Index (13%),S&P 500 Index (13%), MSCI EAFE Index (14%), and FTSE Canada 91 Day TBill Index(2%).





-2.3

10.1

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series PF






15.36%

MER (06/30/2019 incl. HST) PF: 0.94%



paid annually2


Canada 61.54United States 16.35Japan 2.89United Kingdom 2.31Australia 1.66France 1.35Germany 1.12South Korea 1.11Switzerland 1.08Others 10.57

Top Sector Weightings (% Equity)Financials 21.67Information Technology 12.15Energy 9.95Industrials 9.59Health Care 9.32Consumer Staples 8.83Communication Services 8.68Consumer Discretionary 7.63Materials 4.63Utilities 4.01Real Estate 3.53

3975 FFE 0120


FT Growth Private Wealth Pool


Fund Overview





Benchmark Custom FT GrowthPrivate Wealth

Benchmark1

Investment Objective & StrategyThe fund aims to achieve long-term capital appreciation byinvesting primarily in a diversified mix of equity securities, withadditional stability derived from investing in income securities.

Fund Management



Risk Classification

Low Low toMedium


High


Fixed Income 17.38




1 Custom FT Growth Private Wealth Benchmark is a blended index composed of theMSCI EAFE Index (30%), S&P/TSX Composite Index (25%), S&P 500 Index (25%),FTSE Canada Universe Bond Index (18%), and FTSE Canada 91 Day TBill Index (2%).





-5.8

15.6

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Series PF






15.36%

MER (06/30/2019 incl. HST) PF: 0.97%



paid annually2


Canada 38.67United States 25.91Japan 4.93United Kingdom 4.50South Korea 2.44Switzerland 2.33France 2.22China 1.91Germany 1.76Others 15.33

Top Sector Weightings (% Equity)Financials 22.11Information Technology 13.69Industrials 9.33Energy 9.27Health Care 9.02Communication Services 8.74Consumer Staples 8.41Consumer Discretionary 8.41Materials 4.38Utilities 3.43Real Estate 3.22

3977 FFE 0120


FRANKLIN K2 ALTERNATIVES FUND

PORTFOLIO PROTECTION WHEN IT COUNTSDuring periods of increased volatility, a traditional portfolio of stock and bond holdings may not be enough to provide the security investors seek.

Franklin K2 Alternatives Fund provides another option for your portfolio, enhancing diversi� cation to help reduce risk. This solution is designed to deliver improved downside protection and better outcomes, no matter the investment climate.

Learn more about Franklin K2 Alternatives Fund atfranklintempleton.ca /alternatives

Franklin K2 Alternatives Fund is an alternative mutual fund. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.© 2019 Franklin Templeton Investments Corp. All rights reserved.

CAEN_K2_ALTERNATIVES_FUND_8x10.875_AM_0519.indd 1 22/05/2019 12:51


Franklin K2 Alternatives FundAlternative

K2 Advisors January 31, 2020

For Dealer Use Only | Not for Distribution for the Public.

21.21%

63.17%

39.90%

-24.28%

31.57%

43.41%

3.21%

-10.42%

Risk Premia

Hedge Fund Replication

Equity Premium Alpha

Other

Performance (%)

Contribution to Risk

Fund OverviewTotal Net Assets $32,722,564Inception Date Series A: 03/11/2019

Series F: 03/11/2019Series O: 03/11/2019

Number of Securities (ex cash) 23Morningstar CategoryTM Alternative Multi-StrategyBenchmark FTSE Canada 91 Day

TBill Index

Investment Objective & Strategy:The Fund seeks capital appreciation with lower volatility relative to the broad equity markets by using a multi-strategy approach consisting of three alternative investment strategies. The Fund uses a number oftechniques to preserve capital and mitigate risk, including selling short equity securities, and using derivatives for hedging purposes and to gain exposure to additional investments.

Fund ManagementBrooks Ritchey 36 years│Stamford, ConnecticutGordon R. Nicholson 24 years│Stamford, ConnecticutRobert Christian 30 years│Stamford, Connecticut

Fund FactsPrice Per Unit Series A: $10.07

Series F: $10.17Management & Administration Fee Series A: 1.90%

Series F: 0.90%

Risk Classification1

Low Low to Medium Medium Medium to

High High

*Returns data represents cumulative total returns.‡ Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As a consequence, the management fee on Series F is lower than on Series A.

Strategy Allocation (% of Total)

REASONS TO INVEST IN THIS FUND:• One-Stop Diversification—Exposure to three distinct K2-managed alternatives' strategies

with low correlations to traditional equity, fixed income investments and each other.• Active, Expert Management—Franklin K2 Alternatives Fund is sub-advised by Franklin K2

Advisors, a global team with more than 25 years experience in alternative investing.• Accessible, Attractively Priced—A low-fee alternative mutual fund that combines the

familiarity and ease-of-use of a mutual fund.

54.18%

24.54%

21.28%

Risk Premia

Hedge FundReplication

Equity PremiumAlpha

Compounded Annualized Returns (CAD) 1 Mth* 3 Mths* 6 Mths*Since Inception

(03/11/2019)Series A 0.51% 2.07% 0.93% 0.32%Series F‡ 0.60% 2.36% 1.50% 1.32%

Fund Codes CAD$Series A Front 5733Series A DSC 5735Series A Low Load 5734Series F 5736Series F ADM† 5737Series O 5738

Strategy % of Investment CapitalRisk Premia 54.18Hedge Fund Replication 24.54Equity Premium Alpha 21.28

Strategy% of Risk

AllocationNet Exposure (% of Total)

Risk Premia 21.21 31.57Hedge Fund Replication 63.17 43.41Equity Premium Alpha 39.90 3.21Other -24.28 -10.42

87.64%

23.63%

83.62%

23.91%

24.84%

2.62%

40.29%

0.02%

Equity

Currency

Fixed

Commodities

Asset Class ExposureAsset Class Gross (%) Net (%)Equity 87.64 24.84Currency 23.63 2.62Fixed 83.62 40.29Commodities 23.91 0.02

172.33%

39.88%

5.97%

0.63%

52.52%

13.64%

1.09%

0.52%

North America

Europe

Asia Pacific

Global and EM

Regional ExposureAsset Class Gross (%) Net (%)North America 172.33 52.52Europe 39.88 13.64Asia Pacific 5.97 1.09Global and EM 0.63 0.52


FUNDS AT A GLANCE

Find a Fund. Use the Find a Fund tool and choose from a wide choice of investment solutions diversified by fund type, investment style, investment objective, class and sales option. Find a Fund also includes fund codes, prices, performance and distribution. Visit franklintempleton.ca to access the Find a Fund tool.

FUND CODESThe company code for Franklin Templeton on FundServ is TML.

FRANKLIN BISSETT FUNDS

Franklin Bissett Canada Plus Equity Fund 3964 3965 3966 — — — 5247 5248 5249 — — — 3967 3986

Franklin Bissett Canadian Balanced Fund 222 597 322 — — — 5256 5257 5258 — — — 252 3987

Franklin Bissett Canadian Balanced Corporate Class 2056 2057 2058 — — — 5250 5251 5252 — — — 2059 5133

Franklin Bissett Canadian Bond Fund 3978 3979 3980 — — — — — — — — — 3981 3988

Franklin Bissett Canadian Dividend Fund1 1017 1019 1018 — — — 5268 5269 5270 — — — 1020 3989

Franklin Bissett Canadian Dividend Corporate Class1 3476 3477 3478 — — — 5262 5263 5264 — — — 3479 5154

Franklin Bissett Canadian Equity Fund 202 518 302 — — — 5277 5278 5279 — — — 232 3990

Franklin Bissett Canadian Equity Corporate Class 930 779 931 — — — 5271 5272 5273 — — — 932 5134

Franklin Bissett Canadian Government Bond Fund — — — — — — — — — — — — 3946 3991

Franklin Bissett Core Plus Bond Fund 200 515 300 — — — — — — — — — 230 3993

Franklin Bissett Corporate Bond Fund 2061 2062 2063 — — — — — — — — — 2064 3994

Franklin Bissett Dividend Income Fund 203 519 303 — — — 5295 5296 5297 — — — 233 3995

Franklin Bissett Dividend Income Corporate Class 3559 3560 3561 — — — 5289 5290 5291 — — — 3562 5157

Franklin Bissett Money Market Fund 204 521 304 — — — 5310 5311 5312 — — — 236 3997

Franklin Bissett Money Market Corporate Class2 935 782 936 — — — 5307 5308 5309 — — — 937 5139

Franklin Bissett Monthly Income and Growth Fund 3786 3787 3788 — — — 5313 5314 5315 — — — 3789 3998

Franklin Bissett Short Duration Bond Fund3 1012 1014 1013 — — — — — — — — — 1015 3992

Franklin Bissett Small Cap Fund 223 598 323 — — — 5322 5323 5324 — — — 253 3999

FRANKLIN FUNDS

Franklin Global Growth Fund 3501 3502 3503 3511 3512 3513 5334 5335 5336 5337 5338 5339 3504 5000

Franklin Global Growth Corporate Class 955 790 956 957 791 958 5325 5326 5327 5328 5329 5330 959 5141

Franklin High Income Fund4 186 190 188 187 191 189 5349 5350 5351 5352 5353 5354 228 —

Franklin Strategic Income Fund4 387 391 389 388 393 390 5496 5497 5498 5499 5500 5697 229 5011

Franklin U.S. Monthly Income Fund 3640 3641 3642 3651 3652 3653 5517 5518 5519 5520 5521 5522 3643 5014

Franklin U.S. Monthly Income Corporate Class 3662 3663 3664 3673 3674 3675 5505 5506 5507 5508 5509 5510 3665 5159

Franklin U.S. Monthly Income Hedged Corporate Class 3684 3685 3686 — — — 5529 5530 5531 — — — 3687 5160

Franklin U.S. Opportunities Fund 214 573 314 814 574 914 5541 5542 5543 5544 5545 5546 244 5015

Franklin U.S. Opportunities Corporate Class 985 807 986 987 808 988 5535 5536 5537 5538 5539 5540 989 5138

Franklin U.S. Rising Dividends Fund 201 516 301 801 517 901 5556 5557 5558 5559 5560 5561 231 5016

Franklin U.S. Rising Dividends Fund – Hedged Series 5829 5830 5831 — — — 5835 5836 5837 — — — 5832 5833

Franklin U.S. Rising Dividends Corporate Class 2046 2047 2048 2051 2052 2053 5547 5548 5549 5550 5551 5552 2049 5140

Franklin U.S. Rising Dividends Hedged Corporate Class 3608 3609 3610 — — — 5565 5567 5568 — — — 3611 5158

FRANKLIN MUTUAL SERIES FUNDS

Franklin Mutual Global Discovery Fund 180 184 182 181 185 183 5373 5374 5375 5376 5377 5378 225 5004

Franklin Mutual Global Discovery Corporate Class 370 374 372 371 375 373 5361 5362 5363 5364 5365 5366 376 5143

SERIES A SERIES PA SERIES F

CDN$ US$ CDN$ US$ CDN$

FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC (NO LOAD) (NL ADM)*


FUNDS AT A GLANCE


FUND CODES, CONT.The company code for Franklin Templeton on FundServ is TML.


Franklin Bissett Canada Plus Equity Fund 3964 3965 3966 — — — 5247 5248 5249 — — — 3967 3986

Franklin Bissett Canadian Balanced Fund 222 597 322 — — — 5256 5257 5258 — — — 252 3987

Franklin Bissett Canadian Balanced Corporate Class 2056 2057 2058 — — — 5250 5251 5252 — — — 2059 5133

Franklin Bissett Canadian Bond Fund 3978 3979 3980 — — — — — — — — — 3981 3988

Franklin Bissett Canadian Dividend Fund1 1017 1019 1018 — — — 5268 5269 5270 — — — 1020 3989

Franklin Bissett Canadian Dividend Corporate Class1 3476 3477 3478 — — — 5262 5263 5264 — — — 3479 5154

Franklin Bissett Canadian Equity Fund 202 518 302 — — — 5277 5278 5279 — — — 232 3990

Franklin Bissett Canadian Equity Corporate Class 930 779 931 — — — 5271 5272 5273 — — — 932 5134

Franklin Bissett Canadian Government Bond Fund — — — — — — — — — — — — 3946 3991

Franklin Bissett Core Plus Bond Fund 200 515 300 — — — — — — — — — 230 3993

Franklin Bissett Corporate Bond Fund 2061 2062 2063 — — — — — — — — — 2064 3994

Franklin Bissett Dividend Income Fund 203 519 303 — — — 5295 5296 5297 — — — 233 3995

Franklin Bissett Dividend Income Corporate Class 3559 3560 3561 — — — 5289 5290 5291 — — — 3562 5157

Franklin Bissett Money Market Fund 204 521 304 — — — 5310 5311 5312 — — — 236 3997

Franklin Bissett Money Market Corporate Class2 935 782 936 — — — 5307 5308 5309 — — — 937 5139

Franklin Bissett Monthly Income and Growth Fund 3786 3787 3788 — — — 5313 5314 5315 — — — 3789 3998

Franklin Bissett Short Duration Bond Fund3 1012 1014 1013 — — — — — — — — — 1015 3992

Franklin Bissett Small Cap Fund 223 598 323 — — — 5322 5323 5324 — — — 253 3999

FRANKLIN FUNDS

Franklin Global Growth Fund 3501 3502 3503 3511 3512 3513 5334 5335 5336 5337 5338 5339 3504 5000

Franklin Global Growth Corporate Class 955 790 956 957 791 958 5325 5326 5327 5328 5329 5330 959 5141

Franklin High Income Fund4 186 190 188 187 191 189 5349 5350 5351 5352 5353 5354 228 —

Franklin Strategic Income Fund4 387 391 389 388 393 390 5496 5497 5498 5499 5500 5697 229 5011



Franklin U.S. Monthly Income Hedged Corporate Class 3684 3685 3686 — — — 5529 5530 5531 — — — 3687 5160

Franklin U.S. Opportunities Fund 214 573 314 814 574 914 5541 5542 5543 5544 5545 5546 244 5015

Franklin U.S. Opportunities Corporate Class 985 807 986 987 808 988 5535 5536 5537 5538 5539 5540 989 5138

Franklin U.S. Rising Dividends Fund 201 516 301 801 517 901 5556 5557 5558 5559 5560 5561 231 5016

Franklin U.S. Rising Dividends Fund – Hedged Series 5829 5830 5831 — — — 5835 5836 5837 — — — 5832 5833

Franklin U.S. Rising Dividends Corporate Class 2046 2047 2048 2051 2052 2053 5547 5548 5549 5550 5551 5552 2049 5140

Franklin U.S. Rising Dividends Hedged Corporate Class 3608 3609 3610 — — — 5565 5567 5568 — — — 3611 5158


Franklin Mutual Global Discovery Fund 180 184 182 181 185 183 5373 5374 5375 5376 5377 5378 225 5004

Franklin Mutual Global Discovery Corporate Class 370 374 372 371 375 373 5361 5362 5363 5364 5365 5366 376 5143



FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC (NO LOAD) (NL ADM)* FRANKLIN BISSETT FUNDS Franklin Bissett Canada Plus Equity Fund — — 3968 5054 — — — — 3969 — — — — —

Franklin Bissett Canadian Balanced Fund — — 3884 5055 — — 272 — 130 — — 298 596 299

Franklin Bissett Canadian Balanced Corporate Class — — 3751 5179 — — 3750 — 2060 — — 3167 3168 3169

Franklin Bissett Canadian Bond Fund — — — — — — — — 3385 — — — — —

Franklin Bissett Canadian Dividend Fund1 — — 3886 5057 — — 3870 — 1021 — — — — —

Franklin Bissett Canadian Dividend Corporate Class1 — — 3809 5193 — — 3480 — 3481 — 3482 3484 3485 3486

Franklin Bissett Canadian Equity Fund — — 3888 5058 — — 282 — 112 — — — — —

Franklin Bissett Canadian Equity Corporate Class — — 3744 5180 — — 3695 — 934 — 3696 3697 3698 3699

Franklin Bissett Canadian Government Bond Fund — — — — — — — — 3948 — — — — —

Franklin Bissett Core Plus Bond Fund — — — — — — 280 — 110 — — — — —

Franklin Bissett Corporate Bond Fund — — — — — — 3384 — 2065 — — — — —

Franklin Bissett Dividend Income Fund — — 3890 5063 — — 283 — 113 — 3950 294 520 295

Franklin Bissett Dividend Income Corporate Class — — 3735 5194 — — 3563 — 3564 — — 3565 3566 3567

Franklin Bissett Money Market Fund — — 3893 5065 — — 279 — 117 — — — — —

Franklin Bissett Money Market Corporate Class2 — — — — — — 938 — 939 — — — — —

Franklin Bissett Monthly Income and Growth Fund — — 3791 5066 — — 3790 — 3792 — — 3822 3823 3824

Franklin Bissett Short Duration Bond Fund3 — — — — — — — — 1016 — — — — —

Franklin Bissett Small Cap Fund — — 3812 5067 — — — — 116 — — — — —

FRANKLIN FUNDS

Franklin Global Growth Fund 3514 5025 3912 5068 3913 5096 — — 3126 3293 — 3505 3506 3507

Franklin Global Growth Corporate Class 960 5164 — — — — — — 963 964 — 3508 3509 3510

Franklin High Income Fund4 262 — 3810 — 3811 — 3380 3381 172 149 — — — —

Franklin Strategic Income Fund4 263 5035 3805 5079 3806 5106 3382 3383 173 174 — — — —



Franklin U.S. Monthly Income Hedged Corporate Class — — 3821 5196 — — 3688 — 3689 — 3690 3692 3693 3694

Franklin U.S. Opportunities Fund 834 5038 3907 5083 3908 5109 — — 124 133 — — — —

Franklin U.S. Opportunities Corporate Class 990 5162 — — — — — — 993 994 — — — —

Franklin U.S. Rising Dividends Fund 841 5039 3909 5084 3910 5110 — — 111 141 — 3056 3057 3058

Franklin U.S. Rising Dividends Fund – Hedged Series — — 3953 5131 — — — — 5834 — — 5841 5842 5843

Franklin U.S. Rising Dividends Corporate Class 2054 5163 3742 5183 3743 5198 3740 3741 2050 2055 — 3155 3156 3157

Franklin U.S. Rising Dividends Hedged Corporate Class — — — — — — — — 3612 — — 3613 3614 3615


Franklin Mutual Global Discovery Fund 261 5028 3895 5072 3896 5099 3255 3363 106 145 — 3059 3060 3061

Franklin Mutual Global Discovery Corporate Class 377 5166 3736 5184 3737 5199 3259 3362 119 147 — 3161 3162 3163

SERIES F SERIES PF SERIES I† SERIES O‡ SERIES OT‡ SERIES T

US$ CDN$ US$ CDN$ US$ CDN$ US$ CDN$ CDN$

(NO LOAD) (NL ADM)* (NO LOAD) (NL ADM)* (NO LOAD) (NL ADM)* FRONT FRONT (NO LOAD) (NO LOAD) (NO LOAD) FRONT LOW LOAD DSC


FUNDS AT A GLANCE



Franklin Bissett Canada Plus Equity Fund — — — — — — — — — — — — — —

Franklin Bissett Canadian Balanced Fund — — — 5259 5260 5261 — — — — — 3885 5118 —

Franklin Bissett Canadian Balanced Corporate Class — — — 5253 5254 5255 — — — — — — — —

Franklin Bissett Canadian Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Canadian Dividend Fund1 — — — — — — — — — — — — — —

Franklin Bissett Canadian Dividend Corporate Class1 — — — 5265 5266 5267 — — — 3483 5214 — — —

Franklin Bissett Canadian Equity Fund — — — — — — — — — — — — — —

Franklin Bissett Canadian Equity Corporate Class — — — 5274 5275 5276 — — — — — — — —

Franklin Bissett Canadian Government Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Core Plus Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Corporate Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Dividend Income Fund — — — 5298 5299 5300 — — — — — 3891 5119 —

Franklin Bissett Dividend Income Corporate Class — — — 5292 5293 5294 — — — — — — — —

Franklin Bissett Money Market Fund — — — — — — — — — — — — — —

Franklin Bissett Money Market Corporate Class2 — — — — — — — — — — — — — —

Franklin Bissett Monthly Income and Growth Fund — — — 5316 5317 5318 — — — — — 3894 5120 —

Franklin Bissett Short Duration Bond Fund3 — — — — — — — — — — — — — —

Franklin Bissett Small Cap Fund — — — — — — — — — — — — — —

FRANKLIN FUNDS

Franklin Global Growth Fund — — — 5340 5341 5342 — — — — — — — —

Franklin Global Growth Corporate Class — — — 5331 5332 5333 — — — — — — — —

Franklin High Income Fund4 — — — — — — — — — — — — — —

Franklin Strategic Income Fund4 — — — — — — — — — — — — — —

Franklin U.S. Monthly Income Fund 3659 3660 3661 5523 5524 5525 5526 5527 5528 3647 5050 3906 5127 —

Franklin U.S. Monthly Income Corporate Class 3681 3682 3683 5511 5512 5513 5514 5515 5516 3669 5215 — — —

Franklin U.S. Monthly Income Hedged Corporate Class — — — 5532 5533 5534 — — — 3691 5216 — — —

Franklin U.S. Opportunities Fund — — — — — — — — — — — — — —

Franklin U.S. Opportunities Corporate Class — — — — — — — — — — — — — —

Franklin U.S. Rising Dividends Fund — — — 5562 5563 5564 — — — — — 3911 5128 —

Franklin U.S. Rising Dividends Fund – Hedged Series — — — 5838 5839 5840 — — — — — — — —

Franklin U.S. Rising Dividends Corporate Class — — — 5553 5554 5555 — — — — — — — —

Franklin U.S. Rising Dividends Hedged Corporate Class — — — 5569 5570 5571 — — — — — — — —


Franklin Mutual Global Discovery Fund 3256 3257 3258 5379 5380 5381 5382 5383 5384 — — 3897 5121 —

Franklin Mutual Global Discovery Corporate Class 3260 3261 3262 5367 5368 5369 5370 5371 5372 — — — — —

SERIES T SERIES PT SERIES FT SERIES PFT SERIES V†

US$ CDN$ US$ CDN$ CDN$ CDN$

FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC (NO LOAD) (NL ADM)* (NO LOAD) (NL ADM)* FRONT

Front, Low Load, and DSC Commission Fees for Series A or Series T is 0–6%, 2.5%, and 5% respectively for all Funds listed.* “ADM” refers to the Investment Advisory Services Fee purchase option for series F, FT, PF, PF (Hedged) and PFT. Please see the simplified prospectus for further details. § Please refer to the Fund’s page for additional information on mergers. † All Series I and V closed to new investors as of November 22, 2016. ‡ Series O and OT have a sliding scale of Management and Administration Fees (paid to Franklin Templeton), which delivers reduced fees as invested assets increase. To qualify to purchase or hold Series O and OT units an investor must meet minimum investment requirements as set out in the fund’s current prospectus. 1 On April 22, 2016, Franklin Bissett Canadian High Dividend Fund merged into Franklin Bissett Canadian Dividend Fund. Accordingly, past performance data for the period prior to April 25, 2016 would not be comparative. 2 Reopened to new investment as of March 26, 2013. 3 As of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund was renamed to Franklin Bissett Short Duration Bond Fund. 4 As of February 1, 2017, all U.S.‐dollar denominated series of this fund are closed to new investors.


FUNDS AT A GLANCE



Franklin Bissett Canada Plus Equity Fund — — — — — — — — — — — — — —

Franklin Bissett Canadian Balanced Fund — — — 5259 5260 5261 — — — — — 3885 5118 —

Franklin Bissett Canadian Balanced Corporate Class — — — 5253 5254 5255 — — — — — — — —

Franklin Bissett Canadian Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Canadian Dividend Fund1 — — — — — — — — — — — — — —

Franklin Bissett Canadian Dividend Corporate Class1 — — — 5265 5266 5267 — — — 3483 5214 — — —

Franklin Bissett Canadian Equity Fund — — — — — — — — — — — — — —

Franklin Bissett Canadian Equity Corporate Class — — — 5274 5275 5276 — — — — — — — —

Franklin Bissett Canadian Government Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Core Plus Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Corporate Bond Fund — — — — — — — — — — — — — —

Franklin Bissett Dividend Income Fund — — — 5298 5299 5300 — — — — — 3891 5119 —

Franklin Bissett Dividend Income Corporate Class — — — 5292 5293 5294 — — — — — — — —

Franklin Bissett Money Market Fund — — — — — — — — — — — — — —

Franklin Bissett Money Market Corporate Class2 — — — — — — — — — — — — — —

Franklin Bissett Monthly Income and Growth Fund — — — 5316 5317 5318 — — — — — 3894 5120 —

Franklin Bissett Short Duration Bond Fund3 — — — — — — — — — — — — — —

Franklin Bissett Small Cap Fund — — — — — — — — — — — — — —

FRANKLIN FUNDS

Franklin Global Growth Fund — — — 5340 5341 5342 — — — — — — — —

Franklin Global Growth Corporate Class — — — 5331 5332 5333 — — — — — — — —

Franklin High Income Fund4 — — — — — — — — — — — — — —

Franklin Strategic Income Fund4 — — — — — — — — — — — — — —

Franklin U.S. Monthly Income Fund 3659 3660 3661 5523 5524 5525 5526 5527 5528 3647 5050 3906 5127 —

Franklin U.S. Monthly Income Corporate Class 3681 3682 3683 5511 5512 5513 5514 5515 5516 3669 5215 — — —

Franklin U.S. Monthly Income Hedged Corporate Class — — — 5532 5533 5534 — — — 3691 5216 — — —

Franklin U.S. Opportunities Fund — — — — — — — — — — — — — —

Franklin U.S. Opportunities Corporate Class — — — — — — — — — — — — — —

Franklin U.S. Rising Dividends Fund — — — 5562 5563 5564 — — — — — 3911 5128 —

Franklin U.S. Rising Dividends Fund – Hedged Series — — — 5838 5839 5840 — — — — — — — —

Franklin U.S. Rising Dividends Corporate Class — — — 5553 5554 5555 — — — — — — — —

Franklin U.S. Rising Dividends Hedged Corporate Class — — — 5569 5570 5571 — — — — — — — —


Franklin Mutual Global Discovery Fund 3256 3257 3258 5379 5380 5381 5382 5383 5384 — — 3897 5121 —

Franklin Mutual Global Discovery Corporate Class 3260 3261 3262 5367 5368 5369 5370 5371 5372 — — — — —



FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC (NO LOAD) (NL ADM)* (NO LOAD) (NL ADM)* FRONT FRANKLIN TEMPLETON MULTI-ASSET SOLUTIONS Franklin Conservative Income ETF Portfolio 5703 5704 5705 — — — — — — — — — 5706 5707

Franklin Core ETF Portfolio 5713 5714 5715 — — — — — — — — — 5716 5717

Franklin Growth ETF Portfolio 5723 5724 5725 — — — — — — — — — 5726 5727

Franklin Quotential Diversified Income Portfolio5 3250 3251 3252 3861 3862 3863 5457 5458 5459 5460 5461 5462 3253 5008

Franklin Quotential Diversified Income Corporate Class Portfolio5 1022 1023 1024 3515 3516 3517 5445 5446 5447 5448 5449 5450 1025 5146

Franklin Quotential Balanced Income Portfolio5 656 640 657 3700 3701 3702 5412 5413 5414 5415 5416 5417 670 5006

Franklin Quotential Balanced Income Corporate Class Portfolio5 1028 1029 1030 3706 3707 3708 5403 5404 5405 5406 5407 5408 1031 5145

Franklin Quotential Balanced Growth Portfolio5 658 642 659 3852 3853 3854 5394 5395 5396 5397 5398 5399 671 5005

Franklin Quotential Balanced Growth Corporate Class Portfolio5 1034 1035 1036 3842 3843 3844 5385 5386 5387 5388 5389 5390 1037 5144

Franklin Quotential Growth Portfolio5 660 645 661 662 644 663 5481 5482 5483 5484 5485 5486 672 5010

Franklin Quotential Growth Corporate Class Portfolio5 1040 1041 1042 1046 1047 1048 5472 5473 5474 5475 5476 5477 1043 5148

Franklin Quotential Diversified Equity Portfolio5 255 821 823 324 822 824 5433 5434 5435 5436 5437 5438 844 5007

Franklin Quotential Diversified Equity Corporate Class Portfolio5 1052 1053 1054 1058 1059 1060 5421 5422 5423 5424 5425 5426 1055 5147

TEMPLETON FUNDS

Templeton EAFE Developed Markets Fund 224 599 307 805 606 905 5578 5579 5580 5581 5582 5583 237 5017

Templeton Emerging Markets Fund 730 812 731 809 739 909 5590 5591 5592 5593 5594 5595 741 5018

Templeton Emerging Markets Corporate Class 340 610 341 342 613 343 5584 5585 5586 5587 5588 5589 344 5149

Templeton Global Balanced Fund 3240 3241 3242 3245 3246 3247 5596 5597 5598 5599 5600 5601 2039 5019

Templeton Global Bond Fund 704 674 734 803 684 903 5608 5609 5610 5611 5612 5613 257 5020

Templeton Global Bond Fund (Hedged) 3712 3713 3714 — — — 5614 5615 5616 — — — 3715 5021

Templeton Global Smaller Companies Fund 707 694 737 806 695 906 5623 5624 5625 5626 5627 5628 747 5022

Templeton Global Smaller Companies Corporate Class 330 608 331 332 609 333 5617 5618 5619 5620 5621 5622 334 5150

Templeton Growth Fund, Ltd. 700 648 732 702 649 102 5635 5636 5637 5638 5639 5640 740 5023

Templeton Growth Fund, Ltd. – Hedged Series 3623 3624 3625 — — — 5641 5642 5643 — — — — —

Templeton Growth Corporate Class 350 614 352 351 615 353 5629 5630 5631 5632 5633 5634 354 5151

Templeton International Stock Fund 735 742 705 804 744 904 5653 5654 5655 5656 5657 5658 745 5024

Templeton International Stock Corporate Class 360 616 361 362 617 363 5644 5645 5646 5647 5648 5649 364 5152

FRANKLIN ACTIVEQUANT FUNDS

Franklin ActiveQuant Canadian Fund 1096 1097 1098 — — — 5235 5236 5237 — — — 1099 3984

Franklin ActiveQuant Canadian Corporate Class 2021 2022 2023 — — — 5232 5233 5234 — — — 2024 5132

Franklin ActiveQuant U.S. Fund 3970 3971 3972 — — — 5244 5245 5246 — — — 3973 3985

Franklin ActiveQuant U.S. Corporate Class 3230 3231 3232 3235 3236 3237 5238 5239 5240 5241 5242 5243 3233 5137

FIDUCIARY TRUST CANADA PRIVATE WEALTH POOLS

FT Balanced Growth Private Wealth Pool — — — — — — — — — — — — — —

FT Balanced Income Private Wealth Pool — — — — — — — — — — — — — —

FT Growth Private Wealth Pool — — — — — — — — — — — — — —

ALTERNATIVE STRATEGIES

Franklin K2 Alternatives Fund 5733 5734 5735 — — — — — — — — — 5736 5737

Franklin K2 Multi-Strategy Alternatives Fund6 — — — — — — — — — — — — 3924 5002



FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC (NO LOAD) (NL ADM)*



FUNDS AT A GLANCE


FRANKLIN TEMPLETON MULTI-ASSET SOLUTIONS Franklin Conservative Income ETF Portfolio — — — — — — — — — — — 5708 5709 5710

Franklin Core ETF Portfolio — — — — — — — — — — — 5718 5719 5720

Franklin Growth ETF Portfolio — — — — — — — — — — — 5728 5729 5730

Franklin Quotential Diversified Income Portfolio5 3864 5032 3877 5076 3878 5103 267 3865 170 3866 3951 384 386 385


Franklin Quotential Balanced Income Portfolio5 3703 5030 3873 5074 3874 5101 677 3704 683 3705 3068 690 641 691

Franklin Quotential Balanced Income Corporate Class Portfolio5 3709 5168 3784 5186 3785 5201 3365 3710 1033 3711 3178 3175 3176 3177

Franklin Quotential Balanced Growth Portfolio5 3855 5029 3871 5073 3872 5100 678 3856 685 3857 3069 692 643 693

Franklin Quotential Balanced Growth Corporate Class Portfolio5 3845 5167 3753 5185 3847 5200 3364 3846 1039 3848 3183 3180 3181 3182

Franklin Quotential Growth Portfolio5 673 5034 3879 5078 3880 5105 679 680 686 687 3071 3053 3054 3055

Franklin Quotential Growth Corporate Class Portfolio5 1049 5171 3799 5189 3800 5204 3372 3373 1045 1051 — 3185 3186 3187

Franklin Quotential Diversified Equity Portfolio5 855 5031 3875 5075 3876 5102 856 857 858 859 3070 3050 3051 3052

Franklin Quotential Diversified Equity Corporate Class Portfolio5 1061 5170 3801 5188 3802 5203 1056 1062 1057 1063 3198 3195 3196 3197

TEMPLETON FUNDS

Templeton EAFE Developed Markets Fund 837 5040 3914 5088 3915 5111 — — 105 144 — — — —

Templeton Emerging Markets Fund 751 5041 3916 5089 3917 5112 789 799 171 179 — — — —

Templeton Emerging Markets Corporate Class 345 5172 3803 5190 3804 5205 — — 348 349 — — — —


Templeton Global Bond Fund 258 5043 3727 5091 3728 5114 254 256 259 260 — — — —

Templeton Global Bond Fund (Hedged) — — 3808 5092 — — 3716 — 3717 — — — — —

Templeton Global Smaller Companies Fund 754 5044 3918 5093 3919 5115 787 798 169 178 — — — —

Templeton Global Smaller Companies Corporate Class 335 5173 — — — — 336 337 338 339 — — — —

Templeton Growth Fund, Ltd. 750 5045 3817 5094 3818 5116 780 795 165 175 — — — —

Templeton Growth Fund, Ltd. – Hedged Series — — — — — — — — — — — — — —

Templeton Growth Corporate Class 355 5174 3754 5191 3755 5206 356 357 358 359 — — — —

Templeton International Stock Fund 753 5046 3920 5095 3921 5117 785 797 167 177 — 770 748 771

Templeton International Stock Corporate Class 365 5175 3813 5192 3814 5207 366 367 368 369 — 3164 3165 3166


Franklin ActiveQuant Canadian Fund — — 3882 5052 — — 3361 — 2000 — — — — —

Franklin ActiveQuant Canadian Corporate Class — — — — — — 3360 — 2025 — — — — —

Franklin ActiveQuant U.S. Fund — — 3974 5053 — — — — 3228 3229 — — — —

Franklin ActiveQuant U.S. Corporate Class 3238 5161 3819 5182 3820 5197 — — 3234 3239 — — — —


FT Balanced Growth Private Wealth Pool — — 3976 5085 — — — — 3962 — — — — —

FT Balanced Income Private Wealth Pool — — 3975 5086 — — — — 3961 — — — — —

FT Growth Private Wealth Pool — — 3977 5087 — — — — 3963 — — — — —


Franklin K2 Alternatives Fund — — — — — — — — 5738 — — — — —

Franklin K2 Multi-Strategy Alternatives Fund6 — — 3925 5070 — — — — 3881 — — — — —








FUNDS AT A GLANCE

Front, Low Load, and DSC Commission Fees for Series A or Series T is 0–6%, 2.5%, and 5% respectively for all Funds listed.* “ADM” refers to the Investment Advisory Services Fee purchase option for series F, FT, PF, PF (Hedged) and PFT. Please see the simplified prospectus for further details. † All Series I and V closed to new investors as of November 22, 2016. ‡ Series O and OT have a sliding scale of Management and Administration Fees (paid to Franklin Templeton), which delivers reduced fees as invested assets increase. To qualify to purchase or hold Series O and OT units an investor must meet minimum investment requirements as set out in the fund’s current prospectus. 5 As of February 1, 2017, all U.S.‐dollar denominated series, with the exception of Series T‐USD, are closed to new investors. 6 Effective March 11, 2019, Franklin K2 Alternative Strategies Fund was renamed Franklin K2 Multi-Strategy Alternatives Fund. The Franklin K2 Multi-Strategy Alternatives Fund is not offered under a prospectus and is only available to certain qualified investors resident in Canada only.

FRANKLIN TEMPLETON MULTI-ASSET SOLUTIONS Franklin Conservative Income ETF Portfolio — — — — — — — — — 5711 5712 — — —

Franklin Core ETF Portfolio — — — — — — — — — 5721 5722 — — —

Franklin Growth ETF Portfolio — — — — — — — — — 5731 5732 — — —

Franklin Quotential Diversified Income Portfolio5 — — — 5463 5464 5465 — — — 227 5049 3900 5125 —


Franklin Quotential Balanced Income Portfolio5 — — — 5418 5419 5420 — — — 5502 5048 3898 5123 —

Franklin Quotential Balanced Income Corporate Class Portfolio5 — — — 5409 5410 5411 — — — 3179 5210 — — 3776

Franklin Quotential Balanced Growth Portfolio5 — — — 5400 5401 5402 — — — 5501 5047 3923 5122 —

Franklin Quotential Balanced Growth Corporate Class Portfolio5 — — — 5391 5392 5393 — — — 3184 5209 — — 3774

Franklin Quotential Growth Portfolio5 — — — 5487 5488 5489 — — — — — 3901 5126 —

Franklin Quotential Growth Corporate Class Portfolio5 — — — 5478 5479 5480 — — — 3189 5213 — — —

Franklin Quotential Diversified Equity Portfolio5 3295 3296 3297 5439 5440 5441 5442 5443 5444 — — 3899 5124 —

Franklin Quotential Diversified Equity Corporate Class Portfolio5 3298 3299 3300 5427 5428 5429 5430 5431 5432 3199 5212 — — —

TEMPLETON FUNDS

Templeton EAFE Developed Markets Fund — — — — — — — — — — — — — —

Templeton Emerging Markets Fund — — — — — — — — — — — — — —

Templeton Emerging Markets Corporate Class — — — — — — — — — — — — — —


Templeton Global Bond Fund — — — — — — — — — — — — — —

Templeton Global Bond Fund (Hedged) — — — — — — — — — — — — — —

Templeton Global Smaller Companies Fund — — — — — — — — — — — — — —

Templeton Global Smaller Companies Corporate Class — — — — — — — — — — — — — —

Templeton Growth Fund, Ltd. — — — — — — — — — — — — — —

Templeton Growth Fund, Ltd. – Hedged Series — — — — — — — — — — — — — —

Templeton Growth Corporate Class — — — — — — — — — — — — — —

Templeton International Stock Fund — — — 5659 5660 5661 — — — — — 3922 5130 —

Templeton International Stock Corporate Class — — — 5650 5651 5652 — — — — — — — —


Franklin ActiveQuant Canadian Fund — — — — — — — — — — — — — —

Franklin ActiveQuant Canadian Corporate Class — — — — — — — — — — — — — —

Franklin ActiveQuant U.S. Fund — — — — — — — — — — — — — —

Franklin ActiveQuant U.S. Corporate Class — — — — — — — — — — — — — —


FT Balanced Growth Private Wealth Pool — — — — — — — — — — — — — —

FT Balanced Income Private Wealth Pool — — — — — — — — — — — — — —

FT Growth Private Wealth Pool — — — — — — — — — — — — — —


Franklin K2 Alternatives Fund — — — — — — — — — — — — — —

Franklin K2 Multi-Strategy Alternatives Fund6 — — — — — — — — — — — — — —



FRONT LOW LOAD DSC FRONT LOW LOAD DSC FRONT LOW LOAD DSC (NO LOAD) (NL ADM)* (NO LOAD) (NL ADM)* FRONT



FUNDS AT A GLANCE

FUND TRAILER FEES

Front, Low Load, and DSC Commission Fees for Series A or Series T is 0–6%, 2.5%, and 5% respectively for all Funds listed.‡ The low‐load trail fee structure will vary depending on the purchase date of the units. The lower value indicated in the range applies to units held for less than three years. The higher value indicated applies to units that have been issued and outstanding for more than three. The DSC trail fee structure will vary depending on the purchase date of the units. The lower value indicated in the range applies to units held for less than six years. The higher value indicated applies to units that have been issued and outstanding for more than six years. 1 On April 22, 2016, Franklin Bissett Canadian High Dividend Fund merged into Franklin Bissett Canadian Dividend Fund. Accordingly, past performance data for the period prior to April 25, 2016 would not be comparative. 2 Reopened to new investment as of March 26, 2013. 3 As of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund was renamed to Franklin Bissett Short Duration Bond Fund. 4 As of February 1, 2017, all U.S.‐dollar denominated series of this fund are closed to new investors. 5 As of February 1, 2017, all U.S.‐dollar denominated series, with the exception of Series T‐USD, are closed to new investors. 6 Effective March 11, 2019, Franklin K2 Alternative Strategies Fund was renamed Franklin K2 Multi-Strategy Alternatives Fund.

FRANKLIN TEMPLETON MULTI-ASSET SOLUTIONS

Franklin Conservative Income ETF Portfolio 0.75 0.375–0.75 0.375–0.75 N/A

Franklin Core ETF Portfolio 1.00 0.50–1.00 0.50–1.00 N/A

Franklin Growth ETF Portfolio 1.00 0.50–1.00 0.50–1.00 N/A

Franklin Quotential Diversified Income Portfolio5 0.75 0.375–0.75 0.375–0.75 0.75

Franklin Quotential Diversified Income Corporate Class Portfolio5 0.75 0.375–0.75 0.375–0.75 0.75

Franklin Quotential Balanced Income Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Balanced Income Corporate Class Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Balanced Growth Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Balanced Growth Corporate Class Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Growth Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Growth Corporate Class Portfolio6 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Diversified Equity Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Diversified Equity Corporate Class Portfolio6 1.00 0.50–1.00 0.50–1.00 0.75

TEMPLETON FUNDS

Templeton EAFE Developed Markets Fund 1.00 0.50–1.00 0.50–1.00 N/A

Templeton Emerging Markets Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Emerging Markets Corporate Class 1.00 0.50–1.00 0.50–1.00 N/A

Templeton Global Balanced Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Global Bond Fund 0.50 0.25–0.50 0.25–0.50 0.50

Templeton Global Bond Fund (Hedged) 0.50 0.25–0.50 0.25–0.50 0.50

Templeton Global Smaller Companies Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Global Smaller Companies Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Growth Fund, Ltd. 1.00 0.50–1.00 0.50–1.00 0.50

Templeton Growth Fund, Ltd. – Hedged Series 1.00 0.50–1.00 0.50–1.00 0.50

Templeton Growth Corporate Class 1.00 0.50–1.00 0.50–1.00 0.50

Templeton International Stock Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton International Stock Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75


Franklin ActiveQuant Canadian Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin ActiveQuant Canadian Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin ActiveQuant U.S. Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin ActiveQuant U.S. Corporate Class 1.00 0.50–1.00 0.50–1.00 N/A


FT Balanced Growth Private Wealth Pool N/A N/A N/A N/A

FT Balanced Income Private Wealth Pool N/A N/A N/A N/A

FT Growth Private Wealth Pool N/A N/A N/A N/A


Franklin K2 Alternatives Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin K2 Multi-Strategy Alternatives Fund6 N/A N/A N/A N/A


Franklin Bissett Canada Plus Equity Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin Bissett Canadian Balanced Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Canadian Balanced Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Canadian Bond Fund 0.50 0.25–0.50 0.25–0.50 N/A

Franklin Bissett Canadian Dividend Fund1 1.00 0.50–1.00 0.50–1.00 N/A

Franklin Bissett Canadian Dividend Corporate Class1 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Canadian Equity Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Canadian Equity Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Canadian Government Bond Fund N/A N/A N/A N/A

Franklin Bissett Core Plus Bond Fund 0.50 0.25–0.50 0.25–0.50 0.50

Franklin Bissett Corporate Bond Fund 0.50 0.25–0.50 0.25–0.50 0.50

Franklin Bissett Dividend Income Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Dividend Income Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Money Market Fund 0.25 0.25 0.25 0.25

Franklin Bissett Money Market Corporate Class2 0.25 0.25 0.25 0.25

Franklin Bissett Monthly Income and Growth Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Short Duration Bond Fund3 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Bissett Small Cap Fund 1.00 0.50–1.00 0.50–1.00 N/A

FRANKLIN FUNDS

Franklin Global Growth Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin Global Growth Corporate Class 1.00 0.50–1.00 0.50–1.00 N/A

Franklin High Income Fund4 0.50 0.25–0.50 0.25–0.50 0.50

Franklin Strategic Income Fund4 0.50 0.25–0.50 0.25–0.50 0.50

Franklin U.S. Monthly Income Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin U.S. Monthly Income Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin U.S. Monthly Income Hedged Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin U.S. Opportunities Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin U.S. Opportunities Corporate Class 1.00 0.50–1.00 0.50–1.00 N/A

Franklin U.S. Rising Dividends Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin U.S. Rising Dividends Fund – Hedged Series 1.00 0.50–1.00 0.50–1.00 N/A

Franklin U.S. Rising Dividends Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin U.S. Rising Dividends Hedged Corporate Class 1.00 0.50–1.00 0.50–1.00 N/A


Franklin Mutual Global Discovery Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Mutual Global Discovery Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Trailer Fees‡ (CDN$)

Series A (%) Series I

FRONT LOW LOAD DSC (%)

Trailer Fees‡ (CDN$)

Series A (%) Series I

FRONT LOW LOAD DSC (%)


IMPORTANT: Each fund is assigned an investment risk rating in one of the following categories: low, low to medium, medium, medium to high or high risk. The risk ratings were determined using a methodology that assesses a fund’s historical volatility risk as measured by the standard deviation of fund performance. However, just as a fund’s historical performance may not be indicative of its future returns, a fund’s historical volatility may not be indicative of its future volatility. In addition, other types of risk may exist that can affect a fund’s returns. Please read the prospectus for more information on fund risk ratings.1 As of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund was renamed to Franklin Bissett Short Duration Bond Fund. 2 On April 22, 2016, Franklin Bissett Canadian High Dividend Fund merged into Franklin Bissett Canadian Dividend Fund, and Franklin Bissett Canadian High Dividend Corporate Class merged into Franklin Bissett Canadian Dividend Corporate Class.

FUND RATINGS

FUND RISK RATINGSAs of May 28, 2019 (except where otherwise indicated)

FUND NAMERISK

CLASSIFICATION

Franklin Bissett Canadian Balanced Corporate Class

LOW

Franklin Bissett Canadian Balanced Fund

Franklin Bissett Canadian Bond Fund

Franklin Bissett Canadian Government Bond Fund

Franklin Bissett Core Plus Bond Fund

Franklin Bissett Corporate Bond Fund

Franklin Bissett Money Market Corporate Class


Franklin Bissett Monthly Income and Growth Fund

Franklin Bissett Short Duration Bond Fund1

Franklin Conservative Income ETF Portfolio (As of February 20, 2019)

Franklin Core ETF Portfolio (As of February 20, 2019)

Franklin K2 Alternatives Fund (As of March 5, 2019)

Franklin Quotential Balanced Income Corporate Class Portfolio

Franklin Quotential Balanced Income Portfolio

Franklin Quotential Diversified Income Corporate Class Portfolio

Franklin Quotential Diversified Income Portfolio

FT Balanced Growth Private Wealth Pool

FT Balanced Income Private Wealth Pool

Templeton Global Bond Fund (Hedged)

Franklin ActiveQuant Canadian Corporate Class

LOW TO MEDIUM

Franklin ActiveQuant Canadian Fund

Franklin ActiveQuant U.S. Corporate Class

Franklin ActiveQuant U.S. Fund

Franklin Bissett Canada Plus Equity Fund

Franklin Bissett Canadian Dividend Corporate Class2

Franklin Bissett Canadian Dividend Fund2

Franklin Bissett Canadian Equity Corporate Class

Franklin Bissett Canadian Equity Fund

Franklin Bissett Dividend Income Corporate Class

Franklin Bissett Dividend Income Fund

Franklin Growth ETF Portfolio (As of February 20, 2019)

Franklin High Income Fund

Franklin Mutual Global Discovery Corporate Class

Franklin Mutual Global Discovery Fund

FUND NAME RISK

CLASSIFICATION

Franklin Quotential Balanced Growth Corporate Class Portfolio

LOW TO MEDIUM (CONTINUED)

Franklin Quotential Balanced Growth Portfolio

Franklin Quotential Diversified Equity Corporate Class Portfolio

Franklin Quotential Diversified Equity Portfolio

Franklin Quotential Growth Corporate Class Portfolio

Franklin Quotential Growth Portfolio

Franklin Strategic Income Fund

Franklin U.S. Monthly Income Corporate Class

Franklin U.S. Monthly Income Fund

Franklin U.S. Monthly Income Hedged Corporate Class

Franklin U.S. Rising Dividends Corporate Class

Franklin U.S. Rising Dividends Fund

FT Growth Private Wealth Pool

Templeton Global Balanced Fund

Templeton Global Bond Fund

Franklin Bissett Small Cap Fund

MEDIUM

Franklin Global Growth Corporate Class

Franklin Global Growth Fund

Franklin U.S. Opportunities Corporate Class

Franklin U.S. Opportunities Fund

Franklin U.S. Rising Dividends Hedged Corporate Class

Templeton EAFE Developed Markets Fund

Templeton Emerging Markets Corporate Class

Templeton Emerging Markets Fund

Templeton Global Smaller Companies Corporate Class

Templeton Global Smaller Companies Fund

Templeton Growth Corporate Class

Templeton Growth Fund, Ltd.

Templeton Growth Fund, Ltd. (Hedged Series A)

Templeton International Stock Corporate Class

Templeton International Stock Fund

FRANKLIN TEMPLETON MULTI-ASSET SOLUTIONS

Franklin Conservative Income ETF Portfolio 0.75 0.375–0.75 0.375–0.75 N/A

Franklin Core ETF Portfolio 1.00 0.50–1.00 0.50–1.00 N/A

Franklin Growth ETF Portfolio 1.00 0.50–1.00 0.50–1.00 N/A

Franklin Quotential Diversified Income Portfolio5 0.75 0.375–0.75 0.375–0.75 0.75

Franklin Quotential Diversified Income Corporate Class Portfolio5 0.75 0.375–0.75 0.375–0.75 0.75

Franklin Quotential Balanced Income Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Balanced Income Corporate Class Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Balanced Growth Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Balanced Growth Corporate Class Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Growth Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Growth Corporate Class Portfolio6 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Diversified Equity Portfolio5 1.00 0.50–1.00 0.50–1.00 0.75

Franklin Quotential Diversified Equity Corporate Class Portfolio6 1.00 0.50–1.00 0.50–1.00 0.75

TEMPLETON FUNDS

Templeton EAFE Developed Markets Fund 1.00 0.50–1.00 0.50–1.00 N/A

Templeton Emerging Markets Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Emerging Markets Corporate Class 1.00 0.50–1.00 0.50–1.00 N/A

Templeton Global Balanced Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Global Bond Fund 0.50 0.25–0.50 0.25–0.50 0.50

Templeton Global Bond Fund (Hedged) 0.50 0.25–0.50 0.25–0.50 0.50

Templeton Global Smaller Companies Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Global Smaller Companies Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Templeton Growth Fund, Ltd. 1.00 0.50–1.00 0.50–1.00 0.50

Templeton Growth Fund, Ltd. – Hedged Series 1.00 0.50–1.00 0.50–1.00 0.50

Templeton Growth Corporate Class 1.00 0.50–1.00 0.50–1.00 0.50

Templeton International Stock Fund 1.00 0.50–1.00 0.50–1.00 0.75

Templeton International Stock Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75


Franklin ActiveQuant Canadian Fund 1.00 0.50–1.00 0.50–1.00 0.75

Franklin ActiveQuant Canadian Corporate Class 1.00 0.50–1.00 0.50–1.00 0.75

Franklin ActiveQuant U.S. Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin ActiveQuant U.S. Corporate Class 1.00 0.50–1.00 0.50–1.00 N/A


FT Balanced Growth Private Wealth Pool N/A N/A N/A N/A

FT Balanced Income Private Wealth Pool N/A N/A N/A N/A

FT Growth Private Wealth Pool N/A N/A N/A N/A


Franklin K2 Alternatives Fund 1.00 0.50–1.00 0.50–1.00 N/A

Franklin K2 Multi-Strategy Alternatives Fund6 N/A N/A N/A N/A


FUND RATINGS

MORNINGSTAR OVERALL, 3-, 5- AND 10-YEAR RATINGSAs of January 31, 2020

3-Star Overall Morningstar RatingTM

FUND NAME (SERIES F) MORNINGSTAR CATEGORY3-YR.

RATING# OF

FUNDS5-YR.

RATING# OF

FUNDS10-YR. RATING

# OF FUNDS

Franklin Bissett Canadian Balanced Fund Canadian Neutral Balanced 2 572 3 436 4 169

Franklin Bissett Corporate Bond Fund Canadian Corporate Fixed Income 4 84 4 54 2 11

Franklin High Income Fund High Yield Fixed Income 2 379 2 263 3 71

Franklin Quotential Balanced Growth Portfolio Global Neutral Balanced 3 1238 3 912 3 385

Franklin Quotential Diversified Equity Portfolio Global Equity 3 1493 2 1005 3 505

Franklin Quotential Diversified Income Portfolio Global Fixed Income Balanced 3 584 3 333 3 140

Franklin Quotential Growth Portfolio Global Equity Balanced 3 996 2 665 3 296

Franklin Strategic Income Fund Global Fixed Income 2 332 3 181 3 57

Franklin U.S. Rising Dividends Fund U.S. Equity 3 1284 4 825 3 329

Franklin U.S. Rising Dividends Hedged Corporate Class U.S. Equity 3 1284 3 825 N/A N/A

Templeton Global Smaller Companies Fund Global Small/Mid Cap Equity 3 260 3 129 2 59

«««



RATING# OF

FUNDS5-YR.

RATING# OF

FUNDS10-YR. RATING

# OF FUNDS

Franklin ActiveQuant Canadian Fund Canadian Equity 3 615 2 416 5 215

Franklin ActiveQuant U.S. Corporate Class U.S. Equity 3 1284 3 825 4 329

Franklin Bissett Canadian Equity Fund Canadian Equity 3 615 3 416 5 215

Franklin Bissett Canadian Government Bond Fund Canadian Fixed Income 4 470 N/A N/A N/A N/A

Franklin Bissett Dividend Income Fund Canadian Equity Balanced 3 386 4 310 5 164

Franklin Bissett Monthly Income and Growth Fund Canadian Neutral Balanced 4 572 N/A N/A N/A N/A

Franklin Bissett Short Duration Bond Fund* Canadian Short Term Fixed Income 5 209 4 183 4 71

Franklin Quotential Balanced Income Portfolio Global Fixed Income Balanced 4 584 4 333 4 140

Franklin U.S. Monthly Income Fund Global Neutral Balanced 3 1238 4 912 N/A N/A

Franklin U.S. Opportunities Fund U.S. Equity 4 1284 4 825 3 329

««««



RATING# OF

FUNDS5-YR.

RATING# OF

FUNDS10-YR. RATING

# OF FUNDS

Franklin Bissett Core Plus Bond Fund Canadian Fixed Income 5 470 5 368 5 170

Franklin Global Growth Corporate Class Global Equity 5 1493 5 1005 4 505

Templeton Emerging Markets Fund Emerging Markets Equity 5 219 5 143 4 69

«««««

Morningstar Ratings measure risk-adjusted returns. The overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Ratings metrics. Past performance is not an indicator or a guarantee of future performance.

*As of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund was renamed to Franklin Bissett Short Duration Bond Fund.As of January 31, 2020. The Morningstar RatingTM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Ratings metrics. The weights are 100% 3-year rating for 36−59 months of total returns, 60% 5-year rating/40% 3-year rating for 60−119 months of total returns, and 50% 10-year rating/30% 5-year rating/20% 3-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent 3-year period actually has the greatest impact because it is included in all three rating periods. Please refer to www.morningstar.ca for more details on the calculation of Morningstar Risk-Adjusted Ratings and the one-year information. Beginning in January 2017, investors switching between Corporate Class funds will trigger a capital gain or loss at the time of the switch due to certain changes in the income tax laws made by the federal government in 2016.

MORNINGSTAR


PERFORMANCE SUMMARY

FRANKLIN BISSETT FUNDS: SERIES FYear-To-

Date 1 Month 3 Months 6 Months 1 Year 3 Years* 5 Years* 10 Years*Since

Inception*Inception

Date

Franklin Bissett Canada Plus Equity Fund 1.93% 1.93% 5.13% 6.16% 14.27% N/A N/A N/A 7.17% 17-Jul-17

Franklin Bissett Canadian Balanced Fund 1.17% 1.17% 4.13% 4.42% 9.28% 3.84% 3.95% 6.74% 7.67% 6-Sep-91

Franklin Bissett Canadian Balanced Corporate Class 1.16% 1.16% 4.04% 4.26% 8.94% 3.62% 3.79% 6.55% 4.69% 18-Dec-06

Franklin Bissett Canadian Bond Fund 3.04% 3.04% 2.50% 3.21% 8.86% N/A N/A N/A 5.51% 5-Jan-18

Franklin Bissett Canadian Dividend Fund1 2.19% 2.19% 5.01% 6.35% 12.52% 4.05% N/A N/A 7.38% 22-Dec-03

Franklin Bissett Canadian Dividend Corporate Class1 2.15% 2.15% 4.93% 6.26% 12.30% 3.90% 4.64% N/A 5.84% 27-Sep-10

Franklin Bissett Canadian Equity Fund 1.86% 1.86% 5.91% 6.91% 14.23% 5.26% 5.83% 9.03% 10.26% 1-Mar-83

Franklin Bissett Canadian Equity Corporate Class 1.84% 1.84% 5.86% 6.85% 14.09% 5.14% 5.73% 8.85% 7.33% 18-Jun-01

Franklin Bissett Canadian Government Bond Fund 3.02% 3.02% 2.06% 2.91% 8.40% 4.47% N/A N/A 3.92% 14-Nov-16

Franklin Bissett Core Plus Bond Fund 3.07% 3.07% 2.69% 3.53% 9.52% 4.80% 3.12% 4.35% 6.64% 1-Aug-86

Franklin Bissett Corporate Bond Fund 2.74% 2.74% 3.13% 3.89% 10.31% 4.66% 3.43% 4.34% 4.37% 18-Dec-06

Franklin Bissett Dividend Income Fund 1.92% 1.92% 4.58% 5.86% 12.79% 5.17% 5.73% 7.92% 8.08% 31-May-88

Franklin Bissett Dividend Income Corporate Class 1.90% 1.90% 4.53% 5.80% 12.56% 5.01% 5.55% N/A 7.32% 25-Jun-12

Franklin Bissett Money Market Fund 0.12% 0.12% 0.36% 0.73% 1.54% 1.18% 0.95% 0.90% 2.88% 6-Sep-91

Franklin Bissett Money Market Corporate Class2 0.09% 0.09% 0.19% 0.48% 1.29% 1.09% 0.90% 0.88% 1.60% 18-Jun-01

Franklin Bissett Monthly Income and Growth Fund 2.33% 2.33% 4.11% 5.15% 12.53% 5.87% N/A N/A 6.08% 22-Jun-15

Franklin Bissett Short Duration Bond Fund3 1.22% 1.22% 1.46% 1.92% 4.67% 2.44% 1.94% 2.40% 3.04% 22-Dec-03

Franklin Bissett Small Cap Fund -2.36% -2.36% 6.44% 0.76% -6.53% -11.64% -5.35% 2.51% 6.72% 30-Aug-93

PORTFOLIO AND FUND PERFORMANCEAs of January 31, 2020

FRANKLIN BISSETT FUNDS: SERIES AYear-To-


Inception*Inception

Date

Franklin Bissett Canada Plus Equity Fund 1.82% 1.82% 4.82% 5.55% 12.97% N/A N/A N/A 5.91% 17-Jul-17

Franklin Bissett Canadian Balanced Fund 1.07% 1.07% 3.83% 3.81% 8.01% 2.62% 2.74% 5.41% 4.34% 24-Nov-00

Franklin Bissett Canadian Balanced Corporate Class 1.07% 1.07% 3.74% 3.67% 7.72% 2.44% 2.61% 5.30% 3.43% 18-Dec-06

Franklin Bissett Canadian Bond Fund 3.00% 3.00% 2.37% 2.94% 8.28% N/A N/A N/A 4.91% 5-Jan-18

Franklin Bissett Canadian Dividend Fund1 2.09% 2.09% 4.70% 5.73% 11.22% 2.86% N/A N/A 6.18% 22-Dec-03

Franklin Bissett Canadian Dividend Corporate Class1 2.05% 2.05% 4.62% 5.64% 11.00% 2.73% 3.47% N/A 4.67% 27-Sep-10

Franklin Bissett Canadian Equity Fund 1.74% 1.74% 5.57% 6.22% 12.74% 3.88% 4.45% 7.63% 6.02% 24-Nov-00

Franklin Bissett Canadian Equity Corporate Class 1.73% 1.73% 5.51% 6.16% 12.57% 3.75% 4.36% 7.46% 5.95% 18-Jun-01

Franklin Bissett Core Plus Bond Fund 3.02% 3.02% 2.55% 3.24% 8.90% 4.16% 2.46% 3.61% 4.34% 24-Nov-00

Franklin Bissett Corporate Bond Fund 2.70% 2.70% 2.98% 3.60% 9.71% 4.06% 2.82% 3.74% 3.79% 18-Dec-06

Franklin Bissett Dividend Income Fund 1.82% 1.82% 4.27% 5.25% 11.47% 3.92% 4.48% 6.63% 5.62% 24-Nov-00

Franklin Bissett Dividend Income Corporate Class 1.80% 1.80% 4.22% 5.18% 11.25% 3.79% 4.34% N/A 6.08% 25-Jun-12

Franklin Bissett Money Market Fund 0.10% 0.10% 0.29% 0.59% 1.26% 0.90% 0.60% 0.45% 1.29% 24-Nov-00

Franklin Bissett Money Market Corporate Class2 0.07% 0.07% 0.12% 0.33% 1.00% 0.79% 0.54% 0.42% 1.10% 18-Jun-01

Franklin Bissett Monthly Income and Growth Fund 2.24% 2.24% 3.82% 4.57% 11.29% 4.70% N/A N/A 4.92% 22-Jun-15

Franklin Bissett Short Duration Bond Fund3 1.18% 1.18% 1.32% 1.64% 4.09% 1.88% 1.39% 1.84% 2.49% 22-Dec-03

Franklin Bissett Small Cap Fund -2.45% -2.45% 6.15% 0.20% -7.56% -12.63% -6.40% 1.37% 4.73% 24-Nov-00


PERFORMANCE SUMMARY

PORTFOLIO AND FUND PERFORMANCE, CONT.As of January 31, 2020

FRANKLIN FUNDS: SERIES AYear-To-


Inception*Inception

Date

Franklin Global Growth Fund 3.54% 3.54% 11.96% 11.18% 26.16% 15.17% 10.31% N/A 11.22% 24-Jun-11

Franklin Global Growth Corporate Class 3.56% 3.56% 12.00% 11.21% 26.21% 15.69% 10.58% 10.36% 3.95% 18-Jun-01

Franklin High Income Fund 0.24% 0.24% 1.93% 2.32% 7.28% 2.83% 2.70% 4.62% 3.27% 17-Feb-03

Franklin Strategic Income Fund 1.19% 1.19% 1.90% 2.00% 5.54% 1.86% 1.20% 3.16% 2.14% 17-Feb-03

Franklin U.S. Monthly Income Fund 0.33% 0.33% 2.18% 3.07% 7.91% 4.71% 5.13% N/A 8.46% 28-Jun-13

Franklin U.S. Monthly Income Corporate Class 0.33% 0.33% 2.08% 2.97% 7.42% 4.22% 4.56% N/A 7.93% 28-Jun-13

Franklin U.S. Monthly Income Hedged Corporate Class -1.52% -1.52% 1.40% 2.22% 5.52% 2.57% 3.03% N/A 4.13% 28-Jun-13

Franklin U.S. Opportunities Fund 5.87% 5.87% 10.84% 8.30% 24.49% 17.41% 11.48% 13.00% 6.79% 14-Apr-97

Franklin U.S. Opportunities Corporate Class 5.87% 5.87% 10.84% 8.31% 24.52% 17.54% 11.53% 13.07% 8.14% 21-Oct-05

Franklin U.S. Rising Dividends Fund 1.16% 1.16% 5.61% 4.72% 19.47% 11.85% 9.88% 12.67% 2.81% 24-Nov-00

Franklin U.S. Rising Dividends Corporate Class 1.15% 1.15% 5.75% 4.85% 19.37% 11.67% 9.71% 12.56% 6.99% 16-Jan-06

Franklin U.S. Rising Dividends Hedged Corporate Class -0.72% -0.72% 4.92% 4.00% 17.31% 9.99% 7.96% N/A 10.08% 29-Oct-12

FRANKLIN FUNDS: SERIES FYear-To-


Inception*Inception

Date

Franklin Global Growth Fund 3.65% 3.65% 12.28% 11.88% 27.66% 16.47% 11.55% N/A 12.47% 24-Jun-11

Franklin Global Growth Corporate Class 3.65% 3.65% 12.31% 11.83% 27.62% 17.01% 11.77% 11.59% 5.09% 18-Jun-01

Franklin High Income Fund 0.28% 0.28% 2.07% 2.61% 7.88% 3.38% 3.28% 5.48% 4.20% 17-Feb-03

Franklin Strategic Income Fund 1.24% 1.24% 2.04% 2.28% 6.13% 2.42% 1.76% 3.94% 3.00% 17-Feb-03

Franklin U.S. Monthly Income Fund 0.42% 0.42% 2.47% 3.66% 9.12% 5.89% 6.32% N/A 9.66% 28-Jun-13

Franklin U.S. Monthly Income Corporate Class 0.42% 0.42% 2.36% 3.55% 8.63% 5.40% 5.76% N/A 9.16% 28-Jun-13

Franklin U.S. Monthly Income Hedged Corporate Class -1.43% -1.43% 1.69% 2.81% 6.74% 3.72% 4.22% N/A 5.30% 28-Jun-13

Franklin U.S. Opportunities Fund 5.97% 5.97% 11.16% 8.91% 25.91% 18.76% 12.75% 14.27% 4.16% 24-Nov-00

Franklin U.S. Opportunities Corporate Class 5.97% 5.97% 11.15% 8.92% 25.91% 18.87% 12.75% 14.31% 9.32% 21-Oct-05

Franklin U.S. Rising Dividends Fund 1.25% 1.25% 5.91% 5.30% 20.83% 13.12% 11.11% 13.94% 7.56% 1-Dec-84

Franklin U.S. Rising Dividends Corporate Class 1.24% 1.24% 6.05% 5.45% 20.72% 12.95% 10.94% 13.83% 8.18% 16-Jan-06

Franklin U.S. Rising Dividends Hedged Corporate Class -0.63% -0.63% 5.21% 4.57% 18.60% 11.20% 9.16% N/A 11.33% 29-Oct-12

FRANKLIN MUTUAL SERIES FUNDS: SERIES AYear-To-


Inception*Inception

Date

Franklin Mutual Global Discovery Fund -3.64% -3.64% 1.71% 2.09% 9.18% 2.37% 2.98% 6.38% 6.05% 17-Feb-03

Franklin Mutual Global Discovery Corporate Class -3.66% -3.66% 1.46% 1.84% 8.97% 2.29% 2.86% 6.33% 5.92% 17-Feb-03

FRANKLIN MUTUAL SERIES FUNDS: SERIES FYear-To-


Inception*Inception

Date

Franklin Mutual Global Discovery Fund -3.54% -3.54% 2.01% 2.68% 10.45% 3.57% 4.16% 7.60% 7.23% 17-Feb-03

Franklin Mutual Global Discovery Corporate Class -3.57% -3.57% 1.75% 2.43% 10.22% 3.47% 4.05% 7.56% 7.13% 17-Feb-03


PERFORMANCE SUMMARY

FRANKLIN TEMPLETON MULTI-ASSET SOLUTIONS: SERIES AYear-To-


Inception*Inception

Date

Franklin Conservative Income ETF Portfolio 2.04% 2.04% 2.45% 3.29% N/A N/A N/A N/A 7.55% 20-Feb-19

Franklin Core ETF Portfolio 1.45% 1.45% 3.32% 4.28% N/A N/A N/A N/A 8.35% 20-Feb-19

Franklin Growth ETF Portfolio 1.11% 1.11% 3.96% 5.12% N/A N/A N/A N/A 9.19% 20-Feb-19

Franklin Quotential Diversified Income Portfolio 2.03% 2.03% 2.38% 2.57% 7.22% 3.37% 2.03% 4.42% 4.32% 26-Jun-08

Franklin Quotential Diversified Income Portfolio − Series T 2.03% 2.03% 2.38% 2.57% 7.23% 3.40% 2.02% 4.41% 4.63% 17-Feb-03

Franklin Quotential Diversified Income Corporate Class Portfolio 2.02% 2.02% 2.28% 2.47% 6.77% 2.94% 1.68% 4.13% 3.91% 28-Jun-04

Franklin Quotential Balanced Income Portfolio 1.73% 1.73% 2.86% 3.17% 8.06% 3.79% 2.55% 4.78% 4.62% 19-Aug-02

Franklin Quotential Balanced Income Corporate Class Portfolio 1.72% 1.72% 2.81% 3.10% 7.69% 3.46% 2.28% 4.58% 3.96% 28-Jun-04

Franklin Quotential Balanced Growth Portfolio 1.44% 1.44% 3.49% 3.92% 9.35% 4.38% 3.02% 5.47% 4.96% 19-Aug-02

Franklin Quotential Balanced Growth Corporate Class Portfolio 1.43% 1.43% 3.46% 3.87% 9.05% 4.11% 2.81% 5.32% 4.40% 28-Jun-04

Franklin Quotential Growth Portfolio 1.16% 1.16% 4.13% 4.68% 10.80% 4.96% 3.50% 6.07% 4.69% 19-Aug-02

Franklin Quotential Growth Corporate Class Portfolio 1.15% 1.15% 4.12% 4.66% 10.54% 4.77% 3.36% 6.02% 4.34% 28-Jun-04

Franklin Quotential Diversified Equity Portfolio 1.16% 1.16% 5.37% 6.15% 14.74% 6.64% 4.58% 7.46% 5.73% 9-Jun-03

Franklin Quotential Diversified Equity Corporate Class Portfolio 1.16% 1.16% 5.40% 6.17% 14.55% 6.53% 4.53% 7.45% 4.78% 28-Jun-04

FRANKLIN TEMPLETON MULTI-ASSET SOLUTIONS: SERIES FYear-To-


Inception*Inception

Date

Franklin Conservative Income ETF Portfolio 2.11% 2.11% 2.67% 3.74% N/A N/A N/A N/A 8.42% 20-Feb-19

Franklin Core ETF Portfolio 1.54% 1.54% 3.60% 4.82% N/A N/A N/A N/A 9.45% 20-Feb-19

Franklin Growth ETF Portfolio 1.19% 1.19% 4.23% 5.66% N/A N/A N/A N/A 10.29% 20-Feb-19

Franklin Quotential Diversified Income Portfolio 2.13% 2.13% 2.62% 3.06% 8.24% 4.33% 3.00% 5.39% 5.27% 26-Jun-08

Franklin Quotential Diversified Income Corporate Class Portfolio 2.10% 2.10% 2.53% 2.96% 7.79% 3.92% 2.65% 5.12% 4.88% 28-Jun-04

Franklin Quotential Balanced Income Portfolio 1.82% 1.82% 3.15% 3.73% 9.25% 4.94% 3.72% 5.96% 5.77% 19-Aug-02

Franklin Quotential Balanced Income Corporate Class Portfolio 1.82% 1.82% 3.09% 3.67% 8.89% 4.60% 3.41% 5.74% 5.09% 28-Jun-04

Franklin Quotential Balanced Growth Portfolio 1.53% 1.53% 3.77% 4.49% 10.55% 5.50% 4.17% 6.64% 6.10% 19-Aug-02

Franklin Quotential Balanced Growth Corporate Class Portfolio 1.53% 1.53% 3.74% 4.44% 10.25% 5.26% 3.93% 6.47% 5.54% 28-Jun-04

Franklin Quotential Growth Portfolio 1.25% 1.25% 4.42% 5.26% 12.02% 6.11% 4.66% 7.25% 5.84% 19-Aug-02

Franklin Quotential Growth Corporate Class Portfolio 1.24% 1.24% 4.41% 5.24% 11.77% 5.93% 4.48% 7.19% 5.47% 28-Jun-04

Franklin Quotential Diversified Equity Portfolio 1.26% 1.26% 5.66% 6.73% 16.01% 7.82% 5.75% 8.64% 6.87% 9-Jun-03

Franklin Quotential Diversified Equity Corporate Class Portfolio 1.26% 1.26% 5.69% 6.76% 15.83% 7.71% 5.70% 8.66% 5.95% 28-Jun-04



PERFORMANCE SUMMARY

TEMPLETON FUNDS: SERIES AYear-To-


Inception*Inception

Date

Templeton EAFE Developed Markets Fund -1.73% -1.73% 0.29% 2.71% 1.15% 0.85% 1.47% 4.21% 1.20% 24-Nov-00

Templeton Emerging Markets Fund -2.74% -2.74% 5.07% 6.21% 8.61% 9.57% 6.42% 4.83% 6.14% 20-Sep-91

Templeton Emerging Markets Corporate Class -2.74% -2.74% 4.73% 5.89% 8.15% 9.50% 6.34% 4.76% 6.25% 18-Jun-01

Templeton Global Balanced Fund -1.57% -1.57% 0.05% -0.89% -2.02% 0.38% 1.15% 5.45% 5.23% 26-Jun-08

Templeton Global Balanced Fund – Series T -1.57% -1.57% 0.06% -0.88% -2.00% 0.35% 1.13% 5.45% 4.39% 12-Dec-05

Templeton Global Bond Fund 0.20% 0.20% 0.43% -3.55% -4.29% 0.09% -0.39% 2.45% 4.76% 15-Jul-88

Templeton Global Bond Fund (Hedged) -1.63% -1.63% -0.14% -4.16% -5.84% -1.27% -1.83% N/A -2.23% 19-Aug-13

Templeton Global Smaller Companies Fund -2.56% -2.56% 2.45% 4.70% 7.55% 4.47% 4.50% 6.00% 7.58% 3-Jan-89

Templeton Global Smaller Companies Corporate Class -2.57% -2.57% 2.44% 4.70% 7.54% 4.46% 4.48% 6.00% 5.36% 18-Jun-01

Templeton Growth Fund, Ltd. -1.73% -1.73% 2.25% 4.33% 2.47% 2.85% 3.22% 7.78% 11.31% 29-Nov-54

Templeton Growth Fund, Ltd. – Series A (Hedged) -3.06% -3.06% 1.72% 2.97% 2.16% 1.71% 2.73% N/A 5.38% 28-Mar-13

Templeton Growth Corporate Class -1.72% -1.72% 2.31% 4.47% 2.69% 3.04% 3.39% 7.94% 3.60% 18-Jun-01

Templeton International Stock Fund -3.08% -3.08% 0.58% 3.65% 1.24% 1.39% 0.40% 4.06% 5.57% 3-Jan-89

Templeton International Stock Corporate Class -3.11% -3.11% 0.11% 3.15% 0.62% 1.03% 0.15% 3.85% 1.57% 18-Jun-01

TEMPLETON FUNDS: SERIES FYear-To-


Inception*Inception

Date

Templeton EAFE Developed Markets Fund -1.63% -1.63% 0.58% 3.30% 2.32% 2.01% 2.67% 5.42% 3.48% 2-Jan-94

Templeton Emerging Markets Fund -2.58% -2.58% 5.36% 6.79% 9.87% 10.78% 7.61% 5.98% 7.19% 24-Nov-00

Templeton Emerging Markets Corporate Class -2.66% -2.66% 5.01% 6.45% 9.30% 10.73% 7.52% 5.92% 7.43% 18-Jun-01

Templeton Global Balanced Fund -1.48% -1.48% 0.33% -0.34% -0.94% 1.48% 2.28% 6.63% 5.54% 12-Dec-05

Templeton Global Bond Fund 0.24% 0.24% 0.57% -3.28% -3.76% 0.67% 0.19% 3.09% 4.81% 18-Jun-01

Templeton Global Bond Fund (Hedged) -1.58% -1.58% 0.01% -3.88% -5.29% -0.71% -1.26% N/A -1.59% 19-Aug-13

Templeton Global Smaller Companies Fund -2.47% -2.47% 2.73% 5.31% 8.78% 5.64% 5.67% 7.20% 6.99% 24-Nov-00

Templeton Global Smaller Companies Corporate Class -2.48% -2.48% 2.74% 5.29% 8.76% 5.64% 5.67% 7.21% 6.55% 18-Jun-01

Templeton Growth Fund, Ltd. -1.64% -1.64% 2.54% 4.94% 3.66% 4.00% 4.36% 8.96% 4.40% 24-Nov-00

Templeton Growth Corporate Class -1.64% -1.64% 2.55% 4.97% 3.68% 4.03% 4.35% 8.94% 4.46% 18-Jun-01

Templeton International Stock Fund -3.00% -3.00% 0.86% 4.22% 2.39% 2.52% 1.52% 5.22% 2.59% 24-Nov-00

Templeton International Stock Corporate Class -3.02% -3.02% 0.39% 3.72% 1.75% 2.16% 1.30% 5.01% 2.74% 18-Jun-01



PERFORMANCE SUMMARY

FIDUCIARY TRUST CANADA PRIVATE WEALTH POOLS: SERIES PFYear-To-


Inception*Inception

Date

FT Balanced Growth Private Wealth Pool 1.49% 1.49% 4.12% 5.65% 11.09% N/A N/A N/A 3.80% 1-Jun-17

FT Balanced Income Private Wealth Pool 1.86% 1.86% 3.33% 4.68% 9.57% N/A N/A N/A 3.04% 1-Jun-17

FT Growth Private Wealth Pool 0.98% 0.98% 4.82% 6.70% 12.51% N/A N/A N/A 4.22% 1-Jun-17

ALTERNATIVE STRATEGIES: SERIES AYear-To-


Inception*Inception

Date

Franklin K2 Alternatives Fund 0.51% 0.51% 2.07% 0.93% N/A N/A N/A N/A 0.32% 11-Mar-19

ALTERNATIVE STRATEGIES: SERIES FYear-To-


Inception*Inception

Date

Franklin K2 Multi-Strategy Alternatives Fund4 -0.03% -0.03% 0.89% -0.26% 3.19% 1.88% N/A N/A 2.16% 3-Oct-16

FRANKLIN ACTIVEQUANT FUNDS: SERIES FYear-To-


Inception*Inception

Date

Franklin ActiveQuant Canadian Fund 0.75% 0.75% 4.15% 5.20% 11.37% 4.81% 4.29% 8.76% 7.93% 20-Sep-04

Franklin ActiveQuant Canadian Corporate Class 0.74% 0.74% 4.11% 5.15% 11.17% 4.66% 4.20% 8.54% 8.03% 20-Sep-04

Franklin ActiveQuant U.S. Fund 0.40% 0.40% 4.00% 7.41% 16.87% N/A N/A N/A 8.89% 9-Jun-17

Franklin ActiveQuant U.S. Corporate Class 0.41% 0.41% 3.87% 7.30% 16.55% 11.02% 9.70% 14.71% 9.74% 3-Mar-08

FRANKLIN ACTIVEQUANT FUNDS: SERIES AYear-To-


Inception*Inception

Date

Franklin ActiveQuant Canadian Fund 0.66% 0.66% 3.86% 4.63% 10.16% 3.67% 3.16% 7.57% 6.75% 20-Sep-04

Franklin ActiveQuant Canadian Corporate Class 0.65% 0.65% 3.83% 4.59% 9.98% 3.55% 3.07% 7.33% 6.82% 20-Sep-04

Franklin ActiveQuant U.S. Fund 0.32% 0.32% 3.74% 6.87% 15.71% N/A N/A N/A 7.86% 9-Jun-17

Franklin ActiveQuant U.S. Corporate Class 0.31% 0.31% 3.58% 6.71% 15.28% 9.81% 8.50% 13.45% 8.58% 3-Mar-08

*All performances are compounded annually if inception before or on January 31, 2019. 1 Effective April 22, 2016, Franklin Bissett Canadian High Dividend Fund merged into Franklin Bissett Canadian Dividend Fund. Accordingly, past performance data for the period prior to April 25,

2016, would not be comparative. 2 Reopened to new investment as of March 26, 2013.3 As of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund was renamed to Franklin Bissett Short Duration Bond Fund.4 Effective March 11, 2019, Franklin K2 Alternative Strategies Fund was renamed Franklin K2 Multi-Strategy Alternatives Fund. The fund is not offered under a prospectus and is only available to

Canadian accredited investors.


ALBERTA & BRITISH COLUMBIA STRATEGIC DISTRIBUTION* Senior Vice President, Sales- Liz Bouthillier

TERRITORY NAME ROLE PHONE / E-MAIL INSIDE SALES MANAGER PHONE / E-MAIL

Alberta & British Columbia Alain Samson Vice President, Regional Sales

(403) 589-8122 [email protected] Anthony Amante (403) 543-4738

[email protected]

*Covering Edward Jones, Investors Group, WFG, credit unions and insurance firms.


REGIONAL SALES CONTACTSOur Sales Team

CLIENT SERVICES

TOLL-FREE (800) 387-0830 | TOLL-FREE FAX (866) 850-8241

ONTARIO & ATLANTIC CANADA Senior Vice President, Sales − Jim Vlahos


London to Windsor, Woodstock and Ingersoll Scott Siegers Vice President, Regional Sales (519) 281-6294

[email protected] Alexandra Tomas(416) [email protected]

Downtown Toronto Robert Blagojevic Vice President, Regional Sales(416) [email protected]

Robert Rocoff(416) [email protected]

Downtown Toronto & North York Tasos Dovolos Vice President, Regional Sales(416) [email protected]

Alfie Sanvictores(416) [email protected]

BRITISH COLUMBIA Senior Vice President, Sales − Liz Bouthillier


Vancouver, Lower Mainland, Fraser Valley Conor Savage Vice President, Regional Sales

(604) [email protected]

Thea Lepore(604) [email protected]

Vancouver Island & BC Interior Jocelyn Duncan Vice President, Regional Sales(250) [email protected]

TBD —

Richmond, Burnaby, Coquitlam, Vancouver André Alves Vice President, Regional Sales


Chris Van (604) [email protected]

ALBERTA, SASKATCHEWAN & MANITOBA Senior Vice President, Sales- Liz Bouthillier


Manitoba Aaron Dubnicoff Vice President, Regional Sales (204) [email protected] TBD —

Alberta Ken Eslinger Vice President, Regional Sales (403) [email protected] Mark Parchamento


Saskatchewan Joe Gill Vice President, Regional Sales (306) [email protected] Mark Parchamento


NATIONAL SALES TEAM

Dennis Tew Head of National Sales, Canada (416) 957-6023 [email protected]

Robert Ruffolo Head of Strategic Relationships and Distribution (514) 298-9681 [email protected]

Jim Vlahos Senior Vice President, Sales (416) 957-6059 [email protected]

Liz Bouthillier Senior Vice President, Sales (514) 476-8257 [email protected]

David Andrews Portfolio Consultant (416) 957-6506 [email protected]

Ahmed Farooq VP, ETF Business Development (416) 452-3691 [email protected]

Jon Durst VP, ETF Business Development (416) 803-2102 [email protected]

Richard Wehbi Manager, Inside Sales (647) 522-2250 [email protected]


As of January 31, 2020.

REGIONAL SALES CONTACTS, CONT.Global Thinking. Local Presence.

ONTARIO & ATLANTIC CANADA (CONTINUED) Senior Vice President, Sales − Jim Vlahos


Richmond Hill, Markham, Scarborough East to Brockville Greg Hourigan Vice President, Regional Sales


Justin Nguyen(416) [email protected]

Etobicoke, Brampton & Mississauga to Oakville & Guelph Marco Mannella Vice President, Regional Sales


Alexandra Tomas (416) [email protected]

Vaughan, Barrie, Sudbury, Sault Ste. Marie, Timmins & North Bay Shant Menasian Vice President, Regional Sales


Jojeth Unciano(416) [email protected]

Burlington, Hamilton, Niagara & St. Catherines & Kitchener, Waterloo TBD — — Alfie Sanvictores


Newfoundland and Labrador& Nova Scotia Kenneth Macqueen Vice President, Regional Sales


May Ola(902) 474-5195 [email protected]

New Brunswick & Prince EdwardIsland Justin Belliveau Vice President, Regional Sales


May Ola(902) 474-5195 [email protected]

QUEBEC AND OTTAWA Senior Vice President, Sales − Liz Bouthillier


Downtown Montreal, West Island, Saint-Laurent Guillaume Bernardi Vice President, Regional Sales


François Leroux(514) [email protected]

Quebec City Region Mana Diakite Vice President, Regional Sales(418) [email protected]

Mathieu Gouraud(514) [email protected]

South Shore, Sherbrooke, Drummondville David Vazzoler Vice President, Regional Sales


Mathieu Gouraud(514) [email protected]

Downtown Montreal, Laval, Abitibi Xavier Saab Vice President, Regional Sales(514) [email protected]

Patrice Cloutier (514) 281-3004 [email protected]

Ottawa Region Jared Goodman Vice President, Regional Sales(613) [email protected]

Stephanie Barbagli (613) 720-1272 [email protected]

*Covering Edward Jones, Investors Group, WFG, credit unions and insurance firms.

DEFINED CONTRIBUTION & RETIREMENT Senior Vice President, Head of Defined Contribution & Retirement − Bill Tsotsos

Western Canada Chris Wright Vice President, Institutional Investment Services (403) 483-1629 [email protected]

Eastern Canada Matt Streeter Vice President, Defined Contribution & Retirement (416) 433-7169 [email protected]

ONTARIO STRATEGIC DISTRIBUTION* Senior Vice President, Sales- Jim Vlahos


Western Ontario − Mississauga to Windsor, Inclusive Patrick Graham Vice President, Regional Sales (647) 274-3704

[email protected] Adam Zerrouk (416) 957-6051 [email protected]

Eastern Ontario − Etobicoke to Ottawa, Inclusive Jim Lissitsas Vice President, Regional Sales (416) 456-7162

[email protected] Chanel Lawrence (416) 957-6527 [email protected]

Franklin Templeton and Franklin Templeton Canada are business names used by Franklin Templeton Investments Corp.© 2020 Franklin Templeton Canada. All rights reserved. CA FSBE 01/20

Founding Member of The Canadian Coalition for Good GovernanceCanadian Offices: Calgary • Montreal • TorontoNYSE: BEN

Franklin Templeton Canada200 King Street West, Suite 1500Toronto, Ontario, M5H 3T4www.franklintempleton.ca

Client Dealer Servicestoll-free (800) 387-0830fax (866) 850-8241

GLOSSARYDividend Yield of a stock is the total amount of dividend per share paid over the previous 12 months, divided by its current price. The dividend yield of a mutual fund is the market-weighted average of the dividend yields of all the stocks in the portfolio. This measure is gross of fees. Weighted Yield (Internal Yield) is a blended measure used for balanced funds, the internal yield is the market-weighted average of the Yield to Maturity of the fund’s fixed income component and the Dividend Yield of the fund’s equity component. This measure is gross of fees.Yield to Maturity (YTM) is a long-term yield expressed as an annual rate. A bond’s YTM is the rate of return anticipated if one assumes the bond is held until its maturity date and all the coupons paid by the bond are reinvested at the same rate of return as the coupons. The calculation takes into account the current market price, par value, coupon interest rate and time to maturity. The YTM of a bond fund is the market-weighted average of the YTMs of all the bonds in the portfolio.Yield to Worst (YTW) of a bond is the yield to maturity if the worst possible bond repayment takes place. If market yields are higher than the coupon, the YTW would assume no prepayment. If market yields are below the coupon, the YTW would assume prepayment. The YTW of a fund is the market-weighted average of the YTWs of all the bonds in the portfolio. This measure is gross of fees and excludes yield on cash. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The portfolio manager for a Fund reserves the right to withhold release of information with respect to holdings that would otherwise be included in the top 10 holdings list. Series T distributions are automatically reinvested unless otherwise requested. Series T may also pay a distribution that must be reinvested in December, consisting of income and capital gains. Please indicate whether your client’s preference is to receive cash flow immediately on your client’s application. Fund AUM reported may include fund-on-fund holdings, and assets are therefore reflected in both the top fund and underlying fund AUM. The ‘Supranational’ geographic designation refers to international financial institutions whereby member states transcend national boundaries and issue debt securities on behalf of the group as a whole.Beginning in January 2017, investors switching between Corporate Class funds will trigger a capital gain or loss at the time of the switch due to certain changes in the income tax laws made by the federal government in 2016.Franklin Bissett Investment Management is part of Franklin Templeton Canada. Fiduciary Trust Company of Canada is a wholly owned subsidiary of Franklin Templeton Canada.*Franklin Templeton Multi-Asset Solutions (FTMAS) is a global team dedicated to global portfolio-based solutions. In Canada, FTMAS uses Templeton Investment Counsel LLC as a sub-adviser. FTMAS is a division of Fiduciary Trust Company of Canada, a wholly owned subsidiary of Franklin Templeton Canada.**Franklin Templeton Investment Funds (FTIF) are Luxembourg SICAVs and are not available for direct purchase in Canada. Société d’Investissement à Capital Variable (SICAV) is an open end investment company, governed by the laws of Luxembourg.Franklin Templeton Canada is a business name used by Franklin Templeton Investments Corp.

Franklin Templeton is a global leader in investment management with clients in over 170 countries. Here in Canada and abroad, we’re dedicated to one goal: delivering exceptional asset management for our clients. At the core of our success are multiple independent investment teams—each with a focused area of expertise—from traditional to active quant, alternative strategies, multi-asset solutions and Active and Smart Beta ETFs. All of these teams share a common commitment to excellence grounded in rigorous, fundamental research and robust, disciplined risk management. We combine our expertise in Canada with extensive global resources, and a focus on excellence. As a result, we’ve become a trusted partner to generations of advisors and investors.

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