01/27/2026 | Press release | Distributed by Public on 01/27/2026 08:32
FLIA-P1 1/26
Effective February 26, 2026, 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:
Sameer Kackar, CFA
Portfolio Manager of Advisers and portfolio manager of the Fund since February 2026.
Michael V. Salm
Portfolio Manager of Advisers and portfolio manager of the Fund since February 2026.
2) The following is added to the section titled "Fund Details - Management" in the Fund's Prospectus:
Sameer Kackar, CFA Portfolio Manager of Advisers
Mr. Kackar has been a portfolio manager of the Fund since February 2026. He joined Franklin Templeton in 2019.
Michael V. Salm Portfolio Manager of Advisers
Mr. Salm has been a portfolio manager of the Fund since February 2026. He joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Mr. Salm was a portfolio manager for Putnam Investment Management, LLC ("Putnam Management"). He joined Putnam Management in 1997.
3) The following replaces the eighth paragraph in the section titled "Fund Details - Management" in the Fund's Prospectus:
The portfolio managers are jointly and primarily responsible for the day-to-day management of the Fund's portfolio. Each portfolio manager has equal authority
over all aspects of the Funds' investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which each portfolio manager may perform these functions, and the nature of these functions, may change from time to time.
4) 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) |
|
Sameer Kackar* |
Registered Investment Companies |
3 |
2,509.9 |
None |
None |
|
Other Pooled Investment Vehicles |
2 |
508.3 |
None |
None |
|
|
Other Accounts |
None |
None |
None |
None |
|
|
Michael V. Salm* |
Registered Investment Companies |
27 |
40,813.3 |
None |
None |
|
Other Pooled Investment Vehicles |
27 |
24,128.0 |
1 |
24.4 |
|
|
Other Accounts |
23 |
8,686.8 |
3 |
4,172 |
*Information is provided as of December 31, 2025.
5) 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 |
|
Sameer Kackar * |
None |
|
Michael V. Salm* |
None |
|
*Information is provided as of December 31, 2025 |
Please retain this supplement for future reference.