Franklin Fund Allocator Series
04/17/2026 | Press release | Distributed by Public on 04/17/2026 07:04
Prospectus by Investment Company (Form 497)
GOF-P21 04/26
FRANKLIN FUND ALLOCATOR SERIES
SUPPLEMENT DATED APRIL 17, 2026
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
OF EACH FUND LISTED IN SCHEDULE A
All changes described below are effective June 1, 2026.
1. The following replaces the reference to Berkeley Belknap in the section titled "Fund Summary - Portfolio Managers" in the Summary Prospectus and Prospectus of each fund listed in Schedule A:
Laura Green, CFA
Portfolio Manager of Advisers and portfolio manager of the Fund since June 2026.
2. The following replaces the reference to Berkeley Belknap in the section titled "Fund Details - Management" in the Prospectus of each fund listed in Schedule A:
Laura Green, CFA Portfolio Manager of Advisers
Ms. Green has been a portfolio manager of the Fund since June 2026. She joined Franklin Templeton in 2020.
3. The following replaces references to Berkeley Belknap in the table in the section titled "Management and Other Services - Portfolio managers" in the SAI of each fund listed in Schedule A:
|
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) |
|
|
Laura Green* |
Registered Investment Companies |
17 |
14,034.5 |
None |
None |
|
|
Other Pooled Investment Vehicles |
28 |
6,781.4 |
None |
None |
||
|
Other Accounts |
246 |
5,219.3 |
2 |
81.1 |
*Information is provided as of February 28, 2026.
4. The following replaces references to Berkeley Belknap in the table in the section titled "Management and Other Services - Portfolio managers - Ownership of Fund shares" in the SAI of each fund listed in Schedule A:
|
Portfolio Manager |
Dollar Range of Fund Shares Beneficially Owned |
|
Laura Green* |
None |
*Information is provided as of March 31, 2026.
SCHEDULE A
|
Fund |
Date of Summary Prospectus, Prospectus and SAI |
|
FRANKLIN FUND ALLOCATOR SERIES |
|
|
Franklin LifeSmart™ Retirement Income Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2020 Retirement Target Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2025 Retirement Target Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2030 Retirement Target Fund |
May 1, 2025 |
|
Fund |
Date of Summary Prospectus, Prospectus and SAI |
|
Franklin LifeSmart™ 2035 Retirement Target Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2040 Retirement Target Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2045 Retirement Target Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2050 Retirement Target Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2055 Retirement Target Fund |
May 1, 2025 |
|
Franklin LifeSmart™ 2060 Retirement Target Fund |
May 1, 2025 |
Please retain this supplement for future reference.
Franklin Fund Allocator Series published this content on April 17, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 17, 2026 at 13:05 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]