FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS If, in exceptional circumstances as described in Appendix D, the liquidity of the relevant Fund is insufficient to enable redemption proceeds to be paid within five (5) Luxembourg bank business days after the redemption request has been received in good order, payment will be made as soon as reasonably practicable thereafter, but without interest. Payments by transfer, if requested by the Shareholder, will normally be made at the expense of the Shareholder. The Company reserves the right not to be bound to redeem or exchange on any one Valuation Day more than 10% of the value of the Shares of any Fund. In these circumstances, the Board of Directors may declare that part or all of such Shares for redemption will be deferred for a period not exceeding ten (10) Luxembourg bank business days and will be valued at the relevant net asset value per Share determined on the Valuation Day(s) on which the Shares are redeemed. On such Valuation Day(s) these requests for redemption will be complied with in priority to later requests. The Board of Directors of the Company is also authorised to extend the period for payment of redemption proceeds to such period, not exceeding thirty (30) Luxembourg bank business days (shorter periods may however apply in some jurisdictions), as may be required by settlement and other constraints prevailing in the financial markets of countries in which a substantial part of the assets attributable to any Fund shall be invested, and this exclusively with respect to those Funds of the Company of which the investment objectives and policies provide for investments in equity securities of issuers in developing countries (namely the Franklin Asian Flex Cap Fund, the Franklin India Fund, the Franklin MENA Fund, the Templeton Asian Growth Fund, the Templeton Asian Smaller Companies Fund, the Templeton BRIC Fund, the Templeton China Fund, the Templeton Eastern Europe Fund, the Templeton Emerging Markets Fund, the Templeton Emerging Markets Bond Fund, the Templeton Frontier Markets Fund, the Templeton Korea Fund, the Templeton Latin America Fund and the Templeton Thailand Fund). With the consent of the Shareholder(s) concerned, and having due regard to the principle of equal treatment of Shareholders, the Board of Directors may satisfy redemption requests in whole or in part in specie by allocating to the redeeming Shareholder(s) portfolio securities of any Fund equal in value to the net asset value attributable to the Shares to be redeemed. Under normal circumstances, prior to a redemption request, and before any payment will be made, the Transfer Agent must have received the registered Share certificate(s), if any, to be redeemed and the duly completed transfer information on the reverse side of the certificate(s). The price at which Shares in any Fund are redeemed may be more or less than the cost to the Shareholder depending on the net asset value per Share of the Fund at the time of redemption. A Shareholder may not withdraw his request for redemption except in the event of a suspension of the valuation of assets of the Company (see Appendix D) and, in such event, a withdrawal of a redemption request will be effective only if written notification is received by the Transfer Agent before termination of the period of suspension. If the request is not so withdrawn, the redemption will be made on the Valuation Day next following the end of the suspension. If the total value of the Shares of any Fund is at any time below USD 20 million or the equivalent thereof in the currency of the relevant Fund, the Board of Directors may decide to redeem all the Shares outstanding of such Fund. Notice of such redemption will be sent to the registered Shareholders by registered mail and will, if bearer Shares are outstanding, be published in certain newspapers worldwide. The price at which Shares will be redeemed will be the net asset value per Share of such Fund determined upon realisation of all assets attributable to such Fund. Holders of bearer Share certificates are advised to make appropriate security arrangements with the Principal Paying Agent for the delivery of certificates and all unmatured coupons to the Company in Luxembourg. Trades instructed through Clearstream or Euroclear, which remain unsettled for a period of thirty days shall be cancelled. In such circumstances, the Company has the right to bring an action against the defaulting investor to obtain compensation for any loss directly or indirectly resulting from the failure by the investor to make good settlement by the settlement date. 52 Franklin Templeton Investment Funds
PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS It is recommended to Shareholders to promptly check the confirmation statement that is mailed after each transaction in order to ensure that it has been accurately recorded in their account. Claims should be submitted in writing to the local Franklin Templeton Investments servicing office within fifteen (15) days from the statement date. These confirmation statements are private and confidential. To safeguard your holdings in the case of loss or theft of these statements (or of your identity documents/ passport), please immediately inform your local Franklin Templeton Investments servicing office. Exchange of Shares Shareholders may exchange Shares of one Class with Shares of the same or another Class of another Fund or with Shares of another Class of the same Fund, if available, subject to the following exceptions: • Class B Shares can only be exchanged with Class B Shares of another Fund which issues Class B Shares of the same currency; • Class C Shares of a Fund can only be exchanged into Class C Shares of a Fund which issues Class C Shares of the same currency, and • only institutional investors as defined in the section “Investment Management Fees and Sales Charge Structure” above can exchange their Shares into or with Class I Shares and Class X Shares. The exchange of Class N Shares with Class A Shares and Class AX Shares may be subject to a charge equivalent to the difference between the two levels of initial sales charge applicable (“sales charge differential”), except for institutional investors. Such sales charge differential may be waived in whole or in part by the Principal Distributor. Class A Shares and Class AX Shares subject to a CDSC can only be exchanged with Shares subject to the same CDSC. Exchange of Shares will be treated as a taxable event falling under the provisions of the Tax Savings Directive (see section “Taxation of Shareholders”). As a result, tax may be withheld in respect of exchange of shares out of the relevant Fund falling within the scope of this Directive, as per applicable to the redemption of Shares under the terms of this Directive. In certain limited circumstances, for distributions in certain countries and/or through certain subdistributors and/or professional investors, the Company or the Transfer Agent may require one (1) additional Luxembourg bank business day in order to process exchange transactions. The additional day may be required for operational reasons in cases where the Fund is in scope of the European Savings Directive and where withholding tax applies and requires to be calculated and factored into the calculation of the number of Shares that the Shareholder will become entitled to in the new Fund. Shareholders wishing to exchange Shares will be entitled to do so on any day which is a Valuation Day by tendering the Share certificates (if issued) to the Transfer Agent, accompanied by an irrevocable written request or, if expressly allowed by the Transfer Agent, by facsimile, telephone or electronic request before the appropriate dealing cut- off time as described in Appendix A. Exchange requests made by telephone, facsimile and electronic means must specify the Class, the Fund, the Class ISIN code (see Appendix G) for both Funds involved in the exchange, the number of Shares to be exchanged, Fund currency amount or percentage holding of Shares to be exchanged, together with the same details for the Fund(s) into which the exchange is to be made. As regards exchange requests made by telephone, facsimile and electronic means, the Transfer Agent may, at its own discretion, request a written and duly signed confirmation, in which case it may delay the processing of the request until receipt of written confirmation thereof. If there is any discrepancy between the Class(es), the Fund(s), the Class ISIN code and the Fund(s) Class currency quoted in the exchange request, the request will be processed on the basis of the ISIN codes quoted in the exchange request. www.franklintempleton.lu 53
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Mandatory Statement Applicable to a
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FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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