Franklin Global Corporate Investment Grade Bond Fund S (Ydis) USD

Franklin Global Corporate Investment Grade Bond Fund (the “Fund”) aims to maximise the investment return by achieving an increase in the value of its investments and earning income over the medium to long term. The Fund pursues an actively managed investment strategy and invests mainly in: investment-grade debt securities issued by corporations located in any country The Fund can invest to a lesser extent in: structured products such as mortgage- and asset-backed securities, collateralised debt obligations and collateralised loan obligations (limited to 20% of assets) debt securities of any quality (including lower quality debt such as noninvestment grade securities) issued by supranational, governments and government-related entities located in any country and denominated in any currency units of other mutual funds and exchange-traded funds (limited to 10% of assets) derivatives for hedging, efficient portfolio management and/or investment purpose credit-linked securities, contingent convertible securities, bonds convertible into common stock, preferred stock, common stock and other equity-linked securities The Fund may distribute income gross of expenses. Whilst this might allow more income to be distributed, it may also have the effect of reducing capital. The benchmark of the Fund is the Bloomberg Global Aggregate Credit Index. The benchmark is used solely as a reference for Investors to compare against the Fund's performance, and the benchmark is neither used as a constraint on how the Fund's portfolio is to be constructed nor set as a target for the Fund's performance to beat. The Fund can deviate from the benchmark. You may request the sale of your shares on any Luxembourg business day. For the distribution share class shown in this document, dividend income is distributed to shareholders. For further information on the Objectives and Investment Policy of the Fund, please refer to the section “Fund Information, Objectives and Investment Policies” of the current prospectus of Franklin Templeton Investment Funds. Terms to Understand Asset-backed securities: Debt securities whose value and income payments are derived from a pool of underlying assets. Debt securities: Securities representing the issuer's obligation to repay a loan at a specified date and to pay interest. Derivatives: Financial instruments whose characteristics and value depend on the performance of one or more underlying assets, typically securities, indexes, currencies or interest rates. Hedging: A strategy for totally or partially offsetting particular risks such as those arising from fluctuations in share prices, currencies or interest rates. Mortgage-backed securities: Securities whose value and income payments are derived from the ownership of a pool of underlying mortgage debts.