FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS Subject to the provisions of the agreement in place with the Company, such other parties may in turn engage sub- distributors, intermediaries, dealers and/or professional investors (who may be affiliates of Franklin Templeton Investments). Notwithstanding the foregoing, Franklin Templeton International Services S.A. will continue to act as the Company’s Distribution Controller to monitor the appointment and activities of the sub- distributors, intermediaries, dealers and/or professional investors as mentioned above. Local offering documentation may provide the faculty for the Investors to avail of nominee type of intermediaries, distributors and/or local paying agents which may effect subscriptions, switches and redemptions of Shares in nominee name on behalf of the Investors and request the registration of such operations on the register of Shareholders of the Company in nominee name. For the avoidance of doubt, investors subscribing through such other parties (or through sub- distributors, intermediaries, dealers and/or professional investors appointed by such other parties) will not be charged additional fees and expenses by the Company. Whenever applicable, all references in this Prospectus relating to the Principal Distributor should therefore also read as references to such other parties appointed by the Company. The minimum initial investment in the Shares of each Fund is USD 5,000 (or USD 2,500 in the case of exchanges – see section “Exchange of Shares”), USD 5,000,000 for Class I Shares (except for the Class I Shares of the Franklin U.S. Government Fund which has a minimum initial investment of USD 1,000,000) or the equivalent in any other freely exchangeable currency, except for investment made by professional nominees. Such minimum investment amounts may be waived in whole or in part by the Board of Directors, by the Principal Distributor or by the Distribution Controller. Existing holders of Shares in any Fund may add to their holdings in that Fund provided the minimum increase for any subscription is USD 1,000 or the equivalent in any other freely exchangeable currency. Lower minimum investment amounts may apply to Regular Savings Plans. Information on minimum initial investment amount for Class X Shares may be obtained from the Company or the Transfer Agent. Calculation of Share Prices and Valuation Day The prices at which Shares of the relevant Classes can be subscribed for, redeemed or exchanged in each Class are calculated on each Valuation Day by reference to the net asset value of the Class concerned and are available on the following Valuation Day. A Valuation Day for all Funds is any day on which the New York Stock Exchange (“NYSE”) is open or any full day on which banks in Luxembourg are open for normal business (other than during a suspension of normal dealing). Listing All eligible Classes of Shares are or will be listed on the Luxembourg Stock Exchange. The Board of Directors of the Company may decide to make application to list the Shares of any Class on any other recognised stock exchange. Class A Shares, Class AX Shares, Class I Shares, Class N Shares, Class X Shares and Class Z Shares (if available) have been accepted for clearance by Clearstream or Euroclear (except for the Shares of the Templeton Euro Money Market Fund). Clearstream and Euroclear each hold securities for their customers and facilitate the clearance and settlement of securities transactions by electronic book- entry transfer between their respective customers. Clearstream and Euroclear have established an electronic bridge between their two systems across which their respective customers may settle trades with each other. Class A Shares, Class AX Shares, Class I Shares, Class N Shares, Class X Shares and Class Z Shares (if available) held through Clearstream and Euroclear are, or will be, issued in global form and registered in the name of, and held by, the common depository of Clearstream and Euroclear. Conversions of Shares in registered form to global certificate form may be rounded down to the nearest whole Share. If the costs involved exceed the value of the payment, no payment for the residual balance of fractional Shares will normally be issued. iv Franklin Templeton Investment Funds
PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS How to Apply Investors wishing to purchase Shares should send a duly completed application form to the Transfer Agent or any authorised Share Distributor containing the information stated in the section “Procedure for Application”. Subsequent purchases of Shares may additionally be made in the format described in the section “Procedure for Application”. Complete applications for Shares received and accepted by the Transfer Agent, or by a duly authorised Share Distributor, on a Valuation Day, before the appropriate dealing cut- off times, as more fully described in Appendix A, will be dealt with on that day, on the basis of the net asset value per Share of the relevant Class calculated on that day, plus any applicable sales charges. Complete applications for Shares received and accepted by the Transfer Agent or by a duly authorised Share Distributor on a Valuation Day after the appropriate dealing cut- off times as more fully described in Appendix A will normally be dealt with on the basis of the net asset value per Share of the relevant Class calculated on the next Valuation Day plus any applicable sales charges. The Board of Directors of the Company may permit, if it deems it appropriate, different dealing cut- off times to be agreed with local distributors or for distribution in jurisdictions where the different time zone so justifies. In such circumstances, the applicable dealing cut- off time applied must always precede the time when the applicable net asset value is calculated and published. Such different cut off time shall be disclosed in the local supplement to this Prospectus, the agreements in place with the local distributors or other marketing material used in the jurisdictions concerned. Investors will be given at least one personal account number. Such personal account number should be used in all correspondence with the Company or the Transfer Agent. In case more than one personal account number is attributed to the same investor, all such personal account numbers should be indicated for any request concerning all the accounts held by an investor. Currency of Payment Payment can be made in the base currency or (if applicable) the alternative currency of the selected Fund(s). However, an investor may, in certain instances as permitted by the Transfer Agent, provide for payment in any other currency which can be freely exchanged for the base currency of the selected Fund(s) and the necessary foreign exchange transaction will be arranged on behalf of, and at the expense of, the investor. For payment in the Alternative Currency Class of Shares, any necessary foreign exchange transaction will be arranged by, and at the expense of, the Fund. Shares held through Clearstream or Euroclear must be settled in the currency of denomination of the relevant Fund or (if applicable) of the relevant Class of Shares and within three (3) Luxembourg bank business days following the Valuation Day. Shareholders are informed that investment orders for Share amounts must be settled in the Fund’s currency. Investors settling in a currency other than the base currency of the selected Fund or (if applicable) the Alternative Currency Class of Shares for which the investment is intended are advised that a delay in processing the application until the next Valuation Day may occur to allow for currency conversion. Exchange of Shares Shareholders wishing to exchange Shares from one Class to Shares of the same Class or another Class of another Fund or with Shares of another Class of the same Fund (if available) will be entitled to do so on any Valuation Day subject to an exchange charge authorised in exceptional circumstances by the Board of Directors at its discretion which shall not exceed 1% of the value of the Shares being requested for exchange and subject to the following exceptions: Class B Shares of a Fund 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 another 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” can exchange their Shares into or with Class I Shares and Class X Shares. Other exchange charges and restrictions may apply as set forth in the section “Exchange of Shares”. Exchange requests may be made in writing or, if expressly allowed by the Transfer Agent, by telephone, www.franklintempleton.lu v
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Mandatory Statement Applicable to a
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FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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