Regulatory Information

MiFID Funds Costs and Charges Information

If prospective individual investors and financial advisers are seeking information on the expected costs and charges when investing in our funds, please contact our MiFID implementation team at [email protected]

We are required to provide this information under the requirements of MiFID II which came into force on 3^rd January 2018.

The information we send will give a breakdown of the total costs and charges for the specific class(es) requested and will be based on expected charges. Charges shown will reflect a direct investment and will not include any fees or charges incurred when investing via an intermediary.

The costs and charges will be broken down into the following areas:

One-off charges
Ongoing charges
Costs relating to transaction costs
Any incidental costs where relevant

NOTE FOR INTERMEDIARIES

If you would like to receive the European MiFID Template (“EMT”) that covers general financial instrument, target market, distribution strategy and costs and charges information then please contact our MiFID implementation team at [email protected]

MiFID Order Execution and Conflict of Interest Policies

The Markets in Financial Instruments Directive (MiFID) provides a Europe-wide conduct of business framework and organisational requirements for investment firms, which came into effect on 1 November 2007. MiFID II amends the original Directive introducing enhanced requirements to improve the functioning of financial markets and to strengthen investor protection, the changes are set to take effect from 3 January 2018.

Franklin Templeton Investments' commitment to be MiFID compliant has involved reviewing and adjusting existing arrangements as well as developing new processes to satisfy, amongst other things, the following MiFID requirements:

Order Execution
MiFID requires we implement an order execution policy which outlines the steps we take to achieve the best possible result when we deal with a client order.

MiFID II (in force from 3 January 2018)

Franklin Templeton Investments' Best Execution Policy Overview (PDF, <200k).

Conflicts of Interest
MiFID requires we implement a conflicts of interest policy which outlines the steps we take to identify and manage any conflicts of interest, which may arise between you and ourselves or between you and other clients.

MiFID II (in force from 3 January 2018)

Franklin Templeton's Conflicts of Interest Policy Overview (PDF, <200k).

MiFID Risk Considerations

MiFID II requires us to provide you with guidance and warnings about the risk associated with investments and investment strategies. A summary of Risk Considerations can be found here:

MiFID Risk Considerations (PDF, <200k)

MIFIDPRU 8 Annual Disclosure

Franklin Templeton Fund Management Limited (“FTFML”) (PDF, <200k)

Franklin Templeton Investment Management Limited (“FTIML”) (PDF, <200k)

UK Tax Policy

This paper sets out the tax strategy of the UK sub-groups of Franklin Templeton, which are hereafter collectively known as the “UK Group”. In making this strategy available the UK Group is fulfilling its responsibilities under Schedule 19 of the Finance Act 2016.

This tax strategy applies to all UK taxes applicable to the UK Group and the document is owned by the Board of Directors of Franklin Templeton UK (“the Board”). References to ‘UK Taxation’ are to the taxes and duties set out in Schedule 19 which includes Income Tax, Corporation Tax, PAYE, NIC and VAT. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the UK Group has legal responsibilities. This document will be reviewed annually and updated as appropriate. The Board is responsible for setting and monitoring the strategy. The Finance and Tax teams of the UK Group are accountable to the Board for the implementation of the tax strategy and the management of tax and related risk.

Our tax strategy reflects our status as a listed company which requires strong governance and consideration of our reputation, while delivering returns to our shareholders and clients. Our tax strategy is further shaped by the regulated nature of our business, which requires further compliance with local laws, regulations and guidance.

Franklin Templeton Investments UK Tax Policy (PDF, <200k)

Internal Audit Charter

The Franklin Templeton Internal Audit group is an independent and objective function within the Franklin Templeton organisation designed to add value and improve operations by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the organisation's risk management, control, and governance processes.

Franklin Templeton Internal Audit Charter (PDF, <200k)

UCITS V Remuneration Policy Statement

The purpose of this Remuneration Policy Statement is to provide investors with details of the FTFML Remuneration Policy in accordance with Directive 2009/65/EU which applies to any UCITS Funds under its management.

Franklin Templeton Fund Management Limited (FTFML) UCITS V Remuneration Policy Statement (PDF, <200k)

Level One Disclosure

Franklin Templeton Investments Level One Disclosure document (PDF, <200k)

UK Reportable Income - Private Placement Funds

FOR EXISTING INVESTORS ONLY, THESE FUNDS ARE NOT REGISTERED FOR DISTRIBUTION IN THE UK AND ARE AVAILABLE ON A PRIVATE PLACEMENT BASIS ONLY.

These Funds should not be promoted or materials distributed. These documents are intended to be of general interest only and do nor constitute legal or tax advice, nor is it an offer for shares or an invitation to apply for shares.

US Domiciled ETFs
- Franklin Emerging Market Core Dividend Tilt Index ETF¹
UK Reportable Income for the Financial Year to 31 March 2017 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 March 2021 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 March 2022 (PDF, < 600k)
UK Reportable Income for the Financial Year to 31 March 2023 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 March 2024 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 March 2025 (PDF, <200k)

US Domiciled Funds
- Templeton Global Bond Fund (US domiciled)
UK Reportable Income for the Financial Year to 31 December 2020 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 December 2021 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 December 2022 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 December 2023 (PDF, <200k)

- Templeton Global Total Return Fund (US domiciled)
UK Reportable Income for the Financial Year to 31 December 2020 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 December 2021 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 December 2022 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 December 2023 (PDF, <200k)

- Templeton Growth Fund Inc (US domiciled)
UK Reportable Income for the Financial Year to 31 August 2022 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 August 2023 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 August 2024 (PDF, <200k)

Franklin Templeton Series II Funds (Luxembourg fund)

UK Reportable Income for the Financial Year to 31 October 2023 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 October 2021 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 October 2022 (PDF, <200k)

- Franklin Floating Rate II Fund
UK Reportable Income for the Financial Year to 31 October 2020 (PDF, <200k)

- Franklin Multi-Sector Credit Income Fund
UK Reportable Income for the Financial Year to 31 October 2020 (PDF, <200k)

- Franklin Upper Tier Floating Rate Fund
UK Reportable Income for the Financial Year to 31 October 2020 (PDF, <200k)

- Franklin Emerging Market Investment Grade Debt Fund
UK Reportable Income for the Financial Year to 31 October 2020 (PDF, <200k)

- Franklin Emerging Market Debt Opportunities II Fund
UK Reportable Income for the Financial Year to 31 October 2020 (PDF, <200k)

Franklin Investors Securities Trust
- Franklin Floating Rate Daily Access Fund
UK Reportable Income for the Financial Year to 31 October 2022 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 October 2023 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 October 2024 (PDF, <200k)

Franklin Templeton Qualified Investor Funds II plc (Irish Fund)
UK Reportable Income for the Financial Year to 31 August 2022 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 August 2023 (PDF, <200k)
UK Reportable Income for the Financial Year to 31 August 2024 (PDF, <200k)

Franklin Emerging Markets Debt Opportunities Fund (Irish Fund)
UK Reportable Income for the Financial Year to 30 April 2021 (PDF, <200k)
UK Reportable Income for the Financial Year to 30 April 2022 (PDF, <200k)
UK Reportable Income for the Financial Year to 30 April 2023 (PDF, <200k)
UK Reportable Income for the Financial Year to 30 April 2024 (PDF, <200k)
UK Reportable Income for the Financial Year to 30 April 2025 (PDF, <200k)

1. UK Reporting Fund regulations will cease to apply to the US Domiciled Franklin Emerging Market Core Dividend Tilt Index ETF, the last day of the period of account is 31st March 2019. The fund was readmitted to the UK reporting Fund Regime from the account period ended 31 March 2021.

Financial Services Compensation Scheme

In the event that Franklin Templeton is unable to meet its liabilities, you may be entitled to compensation under the Financial Services Compensation Scheme. Currently, the maximum level of compensation an investor can receive from the Scheme for such claim against the firm is £85,000 per person per firm. Further information on the scheme can be found at:

www.fscs.org.uk

Section 172 Disclosure

Franklin Templeton Fund Management Limited Section 172 Statement (PDF, <200k)

Franklin Templeton Global Investors Limited Section 172 Statement (PDF, <200k)

Franklin Templeton Investment Management Limited Section 172 Statement (PDF, <200k)

Franklin Templeton Investment Trust Management Limited Section 172 Statement (PDF, <200k)

AIFMD Remuneration Disclosure Statement

Franklin Templeton Investment Trust Management Limited AIFMD Remuneration Disclosure Statement