GOF P16 09/24
Effective
September 30, 2024, the following changes are made to the Summary Prospectus, Prospectus and SAI of each
fund listed in Schedule A:
1. The following is added to the section titled “Fund Summary – Portfolio Managers” in each fund’s Summary Prospectus and Prospectus:
Michael V. Salm
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 each fund’s Prospectus:
Michael V. Salm
Portfolio Manager of Advisers
Mr. Salm has been a portfolio manager of the Fund since September
2024. He joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Mr. Salm 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 each fund’s SAI:
Name | Type of | 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) |
Michael V. Salm* | Registered Investment Companies | 21 | 15,453.5 | 1 | 599.3 |
Other Pooled Investment Vehicles | 26 | 9,532.4 | None | None | |
Other Accounts | 8 | 1,484 | 1 | 440.5 |
*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 each fund’s SAI:
As of August 31, 2024, Michael V. Salm did not own any shares of the Fund.
SCHEDULE A
Fund | Date of Summary Prospectus, Prospectus and SAI | |
FRANKLIN INVESTORS SECURITIES TRUST | ||
Franklin Total Return Fund | March 1, 2024 | |
FRANKLIN STRATEGIC SERIES | ||
Franklin Strategic Income Fund | September 1, 2024 | |
FRANKLIN TEMPLETON ETF TRUST | ||
Franklin U.S. Core Bond ETF | August 1, 2024 | |
Franklin U.S. Treasury Bond ETF | August 1, 2024 | |
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST | ||
Franklin Strategic Income VIP Fund | May 1, 2024 |
Please retain this supplement for future reference.