Franklin LifeSmart 2025 Retirement Target Fund

Fund Description

The fund seeks the highest level of long-term total return consistent with its asset allocation. Total return consists of both capital appreciation and income, with the fund placing an increasing emphasis on fixed income investments as the target date 2025 approaches, and reaching its final and most conservative asset allocation in approximately seven years after the target year. The fund invests
primarily in a combination of other Franklin Templeton mutual funds and Franklin
Templeton and third party exchange-traded funds (ETFs).

Along with an expectation to retire in or near the year 2025 and delay withdrawals until required minimum distribution age, the fund is designed for investors that want:

  • the simplicity of an asset allocation fund paired with a risk management approach.
  • active and flexible portfolio management.
  • a specialized multi-asset strategy team managing complex investment decisions.

Strategy Statement

"Designed for investors who anticipate retiring on or around 2025, the fund provides asset allocation which adjusts to become progressively more conservative as the target date approaches. "


Thomas Nelson, CFA

Thomas Nelson, CFA®

  • Joined Franklin Templeton in 2007
  • Managed Fund Since 2007
Wylie Tollette, CFA

Wylie Tollette, CFA®

  • Joined Franklin Templeton in 1995
  • Managed Fund Since 2021
Berkeley Revenaugh

Berkeley Revenaugh

  • Joined Franklin Templeton in 2019
  • Managed Fund Since 2021


Overall Morningstar Rating As of 08/31/2021

Rating Category: Target-Date 2025

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating As of 08/31/2021

Years Ratings Funds
in category
2 Stars
3 Stars

Morningstar Style Box

We do not publish a style box for this fund.

Strategy, Benefits, Results


Through a dynamic asset allocation approach, the fund provides investors with a target retirement date solution that seeks to:

    • Grow: Emphasizes growth early by increasing equity exposure in the fund’s earlier years
    • Defend: Reduces equity exposure during periods of extended market volatility
    • Reach: Becomes increasingly conservative beyond target retirement date age of 65, reaching for incremental growth until investors are ready to draw income at required minimum distribution age
    • Sustain: Designed to convert into a managed payout fund seven years after reaching retirement target date


  • Behavior based: Designed with an understanding of investor behavior and expectations throughout the journey to retirement
  • Outcome engineered: Reflects the need for growth but responds to potential damage a prolonged bear market can wreak in the retirement savings home stretch
  • Integrated best thinking: A global, integrated, and disciplined approach to asset allocation, capturing Franklin Templeton’s best thinking across and within asset classes