FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS Dividend Policy In respect of all Funds which issue distribution Shares, it is the intention of the Board of Directors of the Company to distribute substantially all of the income attributable to the distribution Shares. Subject to any legal or regulatory requirements, dividends may also be paid out of the capital of such Funds. Subject to any legal or regulatory requirements, the Board of Directors reserves the right to introduce new Classes of Shares, which may retain and re- invest their net income. Annual dividends may be declared separately in respect of each Fund at the Annual General Meeting of Shareholders. Interim share dividends may be paid upon a decision of the Board of Directors in relation to any of the Funds. It is, moreover, anticipated that distributions will be made under normal circumstances as set out in the table below: Types of Shares Share Names Payments Accumulation Shares A (acc), AX (acc), B (acc), C (acc), I (acc), N (acc), X (acc) and Z (acc) No distribution of dividends shall be made but the net income attributable will be reflected in the increased value of the Shares Distribution Shares A (Mdis), AX (Mdis), B (Mdis), C (Mdis), I (Mdis), N (Mdis), X (Mdis) and Z (Mdis) A (Qdis), AX (Qdis), B (Qdis), C (Qdis), I (Qdis), N (Qdis), X (Qdis) and Z (Qdis) A (Ydis), AX (Ydis), B (Ydis), C (Ydis), I (Ydis), N (Ydis), X (Ydis) and Z (Ydis) Under normal circumstances it is anticipated that distribution will be made monthly (following the end of each calendar month) Under normal circumstances it is anticipated that distribution will be made quarterly (following the end of each calendar quarter) Under normal circumstances it is anticipated that distribution will be made yearly (in December each year, further to the resolution of the shareholders at the Annual General Meeting) In order to receive dividends on distribution Shares, Shareholders must be registered as holders of such distribution Shares on the regiolders on the Valuation Day determined by the Company as being the record date. Dividends of registered distribution Shares will normally be reinvested in the subscription of further distribution Shares of the Fund and Class to which such dividends relate, unless otherwise stated in the Application Form. Such further distribution Shares, which will be in registered form without Share certificate, will be issued on the date on which the relevant dividend is paid at a price which will be calculated in the same way as for other issues of Shares of that Fund on the Valuation Day on which the price of the distribution Shares of that Fund goes ex- dividend. No initial sales charge will be payable. Investors not wishing to use this reinvestment facility should complete the appropriate section of the Application Form. In the event that cash dividends are payable, they will be paid to holders of registered distribution Shares who have elected to receive dividends in cash either by transfer of funds or by cheque mailed to their address shown on the register of Shareholders (any charges in either case being at the expense of the Shareholder). In the event that upon specific request of a Shareholder, as aforesaid, dividends are to be paid in cash in the base currency of the particular Fund(s) or (if applicable) in its alternative currency or, at the Shareholder’s expense, in any other freely exchangeable currency, they will be paid to holders of registered distribution Shares by transfer of funds or cheque mailed, at their own risk, to their address shown on the register of Shareholders. Dividends unclaimed within five (5) years will be forfeited and will accrue for the benefit of the relevant Fund. Dividends on bearer Shares will be paid at the offices of the Principal Paying Agent in Luxembourg or at the offices of any local Paying Agent designated in the dividend announcement. Dividends will be announced (together with the name(s) and address(es) of the Principal Paying Agent and/or local Paying Agent(s)) in the newspapers or on any Internet site which the Board of Directors may from time to time determine. 42 Franklin Templeton Investment Funds
PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS When dividends of USD 250 (or currency equivalent) or less cannot be paid to a registered Shareholder due to missing data or if the cheque issued is not cashed in due time, the Company or the Transfer Agent reserves the right to automatically re- invest such dividends and any subsequent dividends to be paid in the subscription of further distribution Shares of the Fund and Class to which such dividends relate until receipt of instructions in good order from the Shareholder. If a dividend has been declared but not paid on a bearer Share, and no coupon has been tendered for such dividend within a period of five (5) years, the Company will, as it is entitled to do under the laws of the Grand Duchy of Luxembourg, declare the dividend forfeited and such unpaid dividend will accrue for the benefit of the relevant Fund. In respect of each dividend declared, the Board of Directors of the Company may determine if, and to what extent, such dividend is to be paid out of realised and unrealised capital gains regardless of capital losses, increased or decreased, as the case may be, by the portion of net investment income and capital gains attributable to Shares issued and to Shares repurchased. It should be remembered that dividend distributions are not guaranteed, that the Company’s Funds do not pay interest and that the price of Shares in the Company’s Funds and any income earned on the Shares may go down as well as up. It should also be remembered that any dividend distribution lowers the value of the Shares in the Company’s Funds by the amount of the distribution. Future earnings and investment performance can be affected by many factors, including changes in exchange rates, not necessarily within the control of the Company, its Directors, officers or any other person. No guarantees as to future performance of, or future return from, the Company can be given by the Company itself, or by any Director or officer of the Company, by Franklin Templeton Investments, or any of its worldwide affiliates, or by any of their directors, officers or employees. The Company’s Funds use an accounting practice known as equalisation, by which a portion of the proceeds from sales and costs of redemption of Shares, equivalent on a per Share basis to the amount of undistributed net investment income on the date of the transaction, is credited or charged to undistributed income. As a result, undistributed net investment income per Share is unaffected by sales or redemptions of Shares. However, in respect of any Fund offering only accumulation Shares, the Board of Directors reserves the right not to apply equalisation. Management and Administration The Board of Directors is responsible for the Company’s management and administration. Conducting Officers The Board of Directors of the Company has appointed the Conducting Officers mentioned in the section “General Information” to conduct the business of the Company. The Conducting Officers shall conduct the business of the Company and, more specifically, shall have the duty to ensure that the different service providers to which the Company has delegated certain functions (comprising the Investment Managers, the Registrar and Transfer, Corporate, Domiciliary and Administrative Agent and the Principal Distributor) perform their functions in compliance with the Law relating to collective investment undertakings, the articles of incorporation of the Company, this Prospectus and the provisions of the contracts which have been entered into between the Company and each of them. The Conducting Officers shall also ensure compliance of the Company with the investment restrictions (Appendix B) and oversee the implementation of the Funds’ investment objectives and policies. The Conducting Officers shall report to the Board of Directors of the Company on a quarterly basis and inform the Board of Directors of any non- compliance of the Company with the investment restrictions. www.franklintempleton.lu 43
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Mandatory Statement Applicable to a
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FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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