497 1 c497.htm 497 FFAS (IU) 0624

FRANKLIN FUND ALLOCATOR SERIES

SUPPLEMENT DATED JUNE 3, 2024

TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION (“SAI”),

EACH DATED DECEMBER 1, 2023, OF

FRANKLIN U.S. CORE EQUITY (IU) FUND

FRANKLIN INTERNATIONAL CORE EQUITY (IU) FUND

FRANKLIN EMERGING MARKET CORE EQUITY (IU) FUND

(EACH, A “FUND” AND COLLECTIVELY THE “FUNDS”)

 

Effective June 3, 2024, the Prospectus and SAI of each Fund is amended as follows:

1) The following is added to the section titled “Fund Summaries – Portfolio Managers” in each Fund’s Prospectus:

Christopher W. Floyd, CFA
Portfolio Manager of Advisers and portfolio manager of the Fund since June 2024.

2) The following is added to the section titled “Fund Details – Management” in each Fund’s Prospectus:

Christopher W. Floyd, CFA Portfolio Manager of Advisers
Mr. Floyd has been a portfolio manager of the Fund since June 2024. Mr. Floyd is a vice president and portfolio manager for Franklin Templeton Investment Solutions (“FTIS”). He joined Franklin Templeton in 2020. Prior to joining Franklin Templeton, Mr. Floyd was a member of the Equity Portfolio Manager group at QS Investors, a quantitative multi-asset and equity manager. QS Investors combined with Franklin Templeton Multi-Asset Solutions in October 2020 to create FTIS. Previously, Mr. Floyd served as a developed markets senior portfolio manager at Batterymarch Financial Management, Inc., which merged with QS Investors in 2014.

3) The following is added to the table in the section titled “Management and Other Services – Portfolio managers” in each Fund’s SAI:

      

Name

Type of
Account

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)

Christopher W. Floyd*

Registered

Investment

Companies

22

4,137.39

None

None

 

Other Pooled

Investment

Vehicles

12

1,183.61

None

None

 

Other

Accounts

11

357.52

None

None

*Information is provided as of April 30, 2024.

4) The following is added to the table in the section titled “Management and Other Services – Portfolio managers – Ownership of Fund shares” in each Fund’s SAI:

  

Portfolio Manager

Dollar Range of
Fund Shares
Beneficially Owned

Christopher W. Floyd*

None

  

  

Portfolio Manager

Dollar Range of
Fund Shares
Beneficially Owned

*Information is provided as of April 30, 2024