497K 1 c497k.htm

GOF P16 09/24

FRANKLIN INVESTORS SECURITIES TRUST
FRANKLIN STRATEGIC SERIES
FRANKLIN TEMPLETON ETF TRUST
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
SUPPLEMENT DATED SEPTEMBER 26, 2024
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION (“SAI”)
OF EACH FUND LISTED IN SCHEDULE A


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
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)

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.