For more than 60 years, Franklin Templeton Investments has consistently applied a common investment philosophy focused on:

• Generating internal research and fundamental analysis
• Employing proper portfolio diversification
• Investing for the long term

The weight given to these three factors varies depending on the nature of each individual fund in our range and its investment objective. For example, a Franklin equity portfolio may be managed for growth and therefore invested in growth stocks that show the ability to maintain faster-than-average revenue growth. Or a Templeton equity portfolio may be invested for value, and therefore focused on securities undervalued at the time of acquisition but with plenty of long-term growth potential.