497 1 c497.htm GOF P11 0921

GOF P11 09/21

SUPPLEMENT DATED SEPTEMBER 7, 2021

TO THE CURRENTLY EFFECTIVE PROSPECTUSES

OF EACH OF THE FUNDS LISTED BELOW

Franklin California Tax-Free Income Fund

Franklin Small-Mid Cap Growth Fund

(a series of Franklin Strategic Series)

The Prospectuses are amended as follows:

I. The Franklin California Tax-Free Income Fund table on the SUMMARY PROSPECTUS front cover is replaced as follows:

     

Class A

Class A1

Class C

Class R6

Advisor Class

FTFQX

FKTFX

FRCTX

FKTQX

FCAVX

II. The Franklin Small-Mid Cap Growth Fund table on the SUMMARY PROSPECTUS front cover is replaced as follows:

     

Class A

Class C

Class R

Class R6

Advisor Class

FRSGX

FRSIX

FSMRX

FMGGX

FSGAX

Please keep this supplement with your Prospectus for future reference.