497 1 c497.htm 814 P1 0924

814 P1 09/24

FRANKLIN INVESTORS SECURITIES TRUST
SUPPLEMENT DATED SEPTEMBER 26, 2024
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION (“SAI”),
EACH DATED MARCH 1, 2024, OF
FRANKLIN LONG DURATION CREDIT FUND (THE “FUND”)


Effective September 30, 2024, 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:

Andrew C. Benson
Portfolio Manager of Advisers and portfolio manager of the Fund since September 2024.

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

Andrew C. Benson Portfolio Manager of Advisers
Mr. Benson has been a portfolio manager of the Fund since September 2024. He joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Mr. Benson was a portfolio manager for Putnam Investment Management, LLC.

3. The following is added to the section titled “Management and Other Services – Portfolio managers” in the 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)

Andrew C. Benson*

Registered Investment Companies

14

13,950.2

2

1,867.1

      
 

Other Pooled Investment Vehicles

15

7,628.1

None

None

      
 

Other Accounts

4

17,688.3

None

None

*Information is provided as of August 31, 2024.

4. 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

Andrew C. Benson*

None

  

*Information is provided as of August 31, 2024

 

Please retain this supplement for future reference.