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Franklin Templeton tweets are for informational purposes only and should not be considered individual investment advice or a recommendation to invest in any security or to adopt any investment strategy. They are not intended as a complete analysis of every material fact regarding any country, region, market, industry, investment or strategy. Because market and economic conditions are subject to change, Franklin Templeton comments, opinions and analyses are rendered as of the date of the posting and may change without notice. Reliance upon information in the posting is at the sole discretion of the viewer. Please consult a financial professional before investing.

All investments involve risks, including possible loss of principal. Generally, those offering potential for higher returns are accompanied by a higher degree of risk. Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions. Bond prices are affected by interest rate changes. Bond prices, and thus a bond fund's share price, generally move in the opposite direction of interest rates. As the price of bonds in a fund adjusts to a rise in interest rates, the fund's share price may decline. High-yield, lower-rated ("junk") bonds generally have greater price swings and higher default risks. These securities carry a greater degree of credit risk relative to investment-grade securities. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with these markets' smaller size, lesser liquidity and lack of established legal, political, business and social frameworks to support securities markets. Smaller, mid-sized and relatively new or unseasoned companies can be particularly sensitive to changing economic conditions, and their prospects for growth are less certain than those of larger, more established companies. Historically, these securities have experienced more price volatility than larger company stocks, especially over the short-term. Derivatives involve costs and can create economic leverage in a portfolio which may result in significant volatility and cause such fund to participate in losses on an amount that exceeds its initial investment; such fund may not achieve the anticipated benefits, and may realize losses when a counterparty fails to perform as promised. These and other risks pertaining to specific funds, such as those involving investments in specialized industry sectors or use of complex securities, are discussed in each fund's prospectus.

Any opinions expressed by Twitter users are those of the persons submitting the comments or posts and do not represent the views of Franklin Templeton or its management. We appreciate your feedback and suggestions; by submitting them you agree that we may use them without compensation or attribution to you.

Investors should carefully consider a fund's investment goals, risks, charges, and expenses before investing. To obtain a summary prospectus and/or prospectus, which contains this and other information, talk to a financial professional, call us at (800) DIAL BEN/(800) 342-5236, or visit franklintempleton.com (for Franklin Templeton mutual funds) or libertyshares.com (for Franklin LibertyShares ETFs). Please carefully read a prospectus before you invest or send money.

Franklin Templeton Distributors, Inc. (“FTDI”) does not endorse or otherwise recommend posts made by third parties FTDI follows on Twitter.

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