GOF-SA1 01/25
SUPPLEMENT DATED JANUARY 23, 2025
TO THE STATEMENT OF ADDITIONAL INFORMATION (“SAI”),
OF EACH FRANKLIN TEMPLETON FUND
LISTED IN SCHEDULE A and SCHEDULE B
1. Effective January 23, 2025, the SAI of each fund listed in Schedule A, is amended as follows:
a. The following address replaces all references to P.O. Box 997151 Sacramento, CA 95899-7151 in each fund’s SAI.
P.O. Box 33030 St. Petersburg, FL 33733
b. The following replaces the section entitled “Management and Other Services – Shareholder servicing and transfer agent” in each fund’s SAI.
Shareholder servicing and transfer agent Franklin Templeton Investor Services, LLC (Investor Services) is the Fund's shareholder servicing agent and acts as the Fund's transfer agent and dividend-paying agent. Investor Services is located at 100 Fountain Parkway, St. Petersburg, FL 33716. Please send all correspondence to Institutional Services at P.O. Box 33030, St. Petersburg, FL 33733.
Under the terms of its servicing contract with the Fund, Investor Services may receive a fee for servicing Fund shareholder accounts. The Fund also will reimburse Investor Services for certain out-of-pocket expenses necessarily incurred in servicing the shareholder accounts in accordance with the terms of its servicing contract with the Fund.
2. Effective January 23, 2025, the SAI of each fund listed in Schedule B, is amended as follows:
a. The following address replaces all references to 3344 Quality Drive, Rancho Cordova, CA 95670-7313 in each fund’s SAI.
100 Fountain Parkway, St. Petersburg, FL 33716
SCHEDULE A
Fund
| Date of SAI
|
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST |
|
Franklin Allocation VIP Fund | May 1, 2024 |
Franklin DynaTech VIP Fund | May 1, 2024 |
Franklin Global Real Estate VIP Fund | May 1, 2024 |
Franklin Growth and Income VIP Fund | May 1, 2024 |
Franklin Income VIP Fund | May 1, 2024 |
Franklin Large Cap Growth VIP Fund | May 1, 2024 |
Franklin Mutual Global Discovery VIP Fund | May 1, 2024 |
Franklin Mutual Shares VIP Fund | May 1, 2024 |
Franklin Rising Dividends VIP Fund | May 1, 2024 |
Franklin Small Cap Value VIP Fund | May 1, 2024 |
Franklin Small-Mid Cap Growth VIP Fund | May 1, 2024 |
Franklin Strategic Income VIP Fund | May 1, 2024 |
Franklin U.S. Government Securities VIP Fund | May 1, 2024 |
Franklin VolSmart Allocation VIP Fund | May 1, 2024 |
Templeton Developing Markets VIP Fund | May 1, 2024 |
Templeton Foreign VIP Fund | May 1, 2024 |
Templeton Global Bond VIP Fund | May 1, 2024 |
Templeton Growth VIP Fund | May 1, 2024 |
SCHEDULE B
Fund | Date of SAI |
FRANKLIN ALTERNATIVE STRATEGIES FUNDS |
|
K2 Alternative Strategies Fund | October 1, 2024 |
FRANKLIN CALIFORNIA TAX-FREE TRUST |
|
Franklin California Intermediate-Term Tax-Free Income Fund | November 1, 2024 |
Fund | Date of SAI |
FRANKLIN U.S. GOVERNMENT MONEY FUND | |
Franklin U.S. Government Money Fund | November 1, 2024 |
FRANKLIN MUTUAL SERIES FUNDS | |
Franklin Mutual Beacon Fund | May 1, 2024 |
Franklin Mutual Global Discovery Fund | May 1, 2024 |
Franklin Mutual International Value Fund | May 1, 2024 |
Franklin Mutual Quest Fund | May 1, 2024 |
Franklin Mutual Shares Fund | May 1, 2024 |
TEMPLETON DEVELOPING MARKETS TRUST | |
Templeton Developing Markets Trust | May 1, 2024 |
TEMPLETON GLOBAL INVESTMENT TRUST | |
Templeton Global Balanced Fund | May 1, 2024 |
TEMPLETON INSTITUTIONAL FUNDS | |
Foreign Smaller Companies Series | May 1, 2024 |
International Equity Series | May 1, 2024 |
Please retain this supplement for future reference.