You must read this before proceeding, as it explains both the legal and regulatory restrictions which apply to the information contained and investment products referred to within this Website.

1. This Website is directed only at individuals resident within the United Kingdom and the information provided is not for distribution outside the United Kingdom. None of the information, whether in part or full, should be copied, reproduced or redistributed in any form nor should it be regarded as an offer or a solicitation of an offer for investment in countries outside the United Kingdom. No shares or units in these funds may be offered or sold to citizens or residents of the United States of America or in any other country, state or jurisdiction where it would be unlawful to offer, solicit an offer for or sell such shares or units.
   
   
2. The information on this Website is issued and approved by Franklin Templeton Investment Management Limited and does not, in any way, constitute investment advice. Franklin Templeton Investment Management Limited is authorised and regulated by the Financial Services Authority (FSA). If you are in doubt about any of the information on this Website, please consult your stockbroker, solicitor, accountant, bank manager or other independent financial adviser.
   
   
3. The prices of shares and units and income therefrom can go down as well as up, and you may not get back the full amount invested. Past performance is no guarantee of future performance. Currency fluctuations will affect the value of overseas investment. Emerging Markets can be more risky than developed markets. Investors should be aware of the special risks associated with aggressively seeking capital appreciation, including investment in securities of a more speculative nature with greater emphasis on short-term trading profits, and concentration of stocks in specific sectors, as with investments in the technology and biotechnology sectors. This investment strategy can lead to greater volatility than an investment in funds invested in a greater spread of stocks across a wider variety of sectors. Current tax levels and reliefs may vary and will depend on your personal circumstances.
   
   
4. Subscriptions for shares or units in any Franklin Templeton Investments fund can be made only on the basis of the current brochure and prospectus (or other offering document) for that fund which more fully describes the investment risks. All or most of the protections provided by the UK regulatory system will not apply to investors in the Franklin Templeton Investment Funds.
   
   
5. Considerable care has been taken to ensure that the information contained on this website is accurate at the date of publication. However no representation or warranty, express or implied, is made to its accuracy or completeness. Franklin Templeton Investment Management Limited and Franklin Templeton Investments therefore accept no liability for any loss arising, whether direct or indirect, caused by the use of any part of the information provided. Any research and analysis contained in this website has been procured by Franklin Templeton Investments for its own purposes and may be acted upon by it in that connection. It is provided to you only incidentally, and any opinions expressed are subject to change without notice.