09/30/2025 | Press release | Distributed by Public on 09/30/2025 09:02
460-P1 09/25
Effective September 30, 2025, the following changes are made to the Fund's Summary Prospectus, Prospectus and SAI:
1) The following is added to the section titled "Fund Summary - Portfolio Managers" in the Fund's Summary Prospectus and Prospectus:
Albert Chan, CFA
Portfolio Manager of Advisers and portfolio manager of the Fund since September 2025.
2) The following is added to the section titled "Fund Details - Management" in the Fund's Prospectus:
Albert Chan, CFA Portfolio Manager of Advisers
Mr. Chan has been a portfolio manager of the Fund since September 2025. He joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Mr. Chan was a portfolio manager for Putnam Investment Management, LLC ("Putnam Management"). He joined Putnam Management in 2002.
3) The following is added to the section titled "Management and Other Services - Portfolio managers" in the Fund's SAI:
Name |
Type of |
Number of Accounts Managed |
Total Assets Managed (x $1 million) |
Number of Accounts Managed for which Advisory Fee is Performance-Based |
Assets Managed for which Advisory Fee is Performance-Based (x $1 million) |
Albert Chan* |
Registered Investment Companies |
14 |
16,616.0 |
None |
None |
Other Pooled Investment Vehicles |
9 |
1,846.0 |
None |
None |
|
Other Accounts |
43 |
3,219.9 |
1 |
449.1 |
*Information is provided as of August 31, 2025.
4) The following is added to the section titled "Management and Other Services - Portfolio managers - Ownership of Fund shares" in the Fund's SAI:
Portfolio Manager |
Dollar Range of Fund Shares Beneficially Owned |
Albert Chan* |
None |
*Information is provided as of August 31, 2025 |
Please retain this supplement for future reference.