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Managed Fund Since 2008
Fixed Income
FRRGX Templeton Global Bond Enhanced Fund
- Global Reach for Attractive Yield: The Fund takes an approach not constrained by its benchmark to pursue compelling yield opportunities across global sovereign bond markets.
- Research-Driven Country and Currency Selection: High-conviction positioning informed by in-depth macroeconomic and country-specific research potentially delivers distinct sources of returns.
- A Differentiated Path to Portfolio Diversification: The Fund's flexible mandate and differentiated investment process have historically resulted in low to moderate correlation with other asset classes, potentially adding to broader portfolio diversification.
Popular Documents
Fund changes
Overview
Fund Facts
Fund description
The fund seeks total investment return consisting of a combination of interest income, capital appreciation and currency gains by investing primarily in fixed and floating-rate debt securities and debt obligations (including convertible bonds) of governments, government agencies and government-related issuers worldwide, including supranational entities.
Identifiers
- Ticker
- FRRGX
- Fund Number
- 808
- CUSIP Code
- 880208863
Average Annual Total Returns As of 12/31/2025
Class R
- 20.06%1 Year
- 5.66%3 Years
- -0.56%5 Years
- 0.42%10 Years
- 3.45%Since Inception
09/30/2008
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Asset Allocation
As of 01/31/2026 - Market Value % of Total (Updated Monthly)
Fixed Income92.96% | |
Equity0.02% | |
Cash & Cash Equivalents7.03% |
Additional Fund Info
- Share Class Inception Date
- 09/30/2008
- Investment Style
- Government
- Lipper Classification
- Global Income Funds
- Morningstar Category
10 - Nontraditional Bond
Manager and Commentary
About the Team
Templeton Global Macro
Templeton Global Macro employs a research-intensive, high-conviction approach to investing in the global sovereign debt market. Blending rigorous country-by-country research and top-down macro analysis, the team seeks to identify the most compelling longer-term opportunities across interest-rates, currencies, and sovereign credit spreads.
Commentary Highlights
12/31/2025- Markets: Global growth data was largely mixed during the fourth quarter of 2025; third-quarter growth outcomes were strong in the United States, modest but stable in the euro area and negative in Japan, as the effects of earlier front-loading ahead of tariffs unwound. There was also some uncertainty over economic momentum in the United States as the government shutdown that lasted through October and continued into November affected data collection. Inflation outcomes remained mixed, with trends in developed markets somewhat higher, while emerging markets (EMs) saw sideways to lower moves. Global monetary policy largely seemed to be in the late stages of an easing cycle, with pauses and a slower rate cutting pace becoming more common. The US Federal Reserve (Fed) delivered two 25 basis-point (bp) rate cuts over the quarter, bringing the fed funds target range to 3.50%–3.75%, though dissent over the moves among Fed members highlighted uncertainty over the outlook. Most developed market sovereign bond yields rose, while EM bonds showed mixed performance. The 10-year US Treasury note’s yield rose two bps to 4.17% over the quarter. The US dollar (USD) edged higher on average during the period, even as most developed market currencies, with the notable exception of the Japanese yen, appreciated against it.
- OverallContributors: Interest-rate strategies contributed to absolute fund performance, as did overall credit exposures.
- OverallDetractors: Currency positions detracted from absolute fund results during the period.
- Outlook: We expect global growth to be weaker than we had expected prior to tariff imposition, but we anticipate a recession is likely to be avoided.
Franklin Templeton Fixed Income
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Managed Fund Since 2018
Latest Insights
January 29, 2026
January 8, 2026
October 3, 2025
August 5, 2025
Performance
Average Annual Total Returns
As of 12/31/2025
Selected Month December 2025
Class R - With Sales Charge (POP) (%)
Month End
As of 12/31/2025
Class R - Without Sales Charge (NAV) (%)
Month End
As of 12/31/2025
FTSE World Government Bond Index (%) 3
Month End
As of 12/31/2025
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 12
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Portfolio
Assets
As of01/31/2026 (Updated Monthly)
- Total Net Assets
- $218.24 Million
Positions
As of 01/31/2026 (Updated Monthly)
Number of Holdings
- Fund
- 94
- Benchmark
- 1,336
Portfolio Statistics
As of 01/31/2026 (Updated Monthly)
Average Weighted Maturity
- Fund
- 6.19 Years
- Benchmark
- 8.37 Years
- Fund
- 4.17 Years
- Benchmark
- 6.63 Years
Asset Allocation
As of 01/31/2026 - Market Value % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Fixed Income | 92.96% |
Equity | 0.02% |
Cash & Cash Equivalents | 7.03% |
Holdings
As of 12/31/2025 (Updated Monthly)
Malaysia Government Bond 3.899% 11/16/2027
United States Treasury Note/Bond 3.875% 06/30/2030
Cash and Cash Equivalents
India Government Bond 7.26% 08/22/2032
Franklin Institutional U.S. Government Money Market Fund OEMF-SWEEP MONEY MARKET PORTFOLIO
Norway Government Bond 1.75% 02/17/2027 REG S
ECUADOR REPUBLIC OF STEP 07/31/2035 144A
Asian Development Bank 10.1% 01/23/2026
Republic of South Africa Government Bond 9.00% 01/31/2040
Brazil Notas Do Tesouro Nacional Serie F 10% 01/01/2033
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
- Distribution Frequency
- MonthlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- September, December
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 6.84%
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
01/26/2026
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Templeton Global Bond Enhanced Fund | |||
| Product Commentary - Templeton Global Bond Enhanced Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report -Templeton Global Bond Enhanced Fund - Class R | |||
| Annual Financial Statements and Other Information - Templeton Income Trust | |||
| Semi-Annual Report - Templeton Global Total Return Fund - Class R | |||
| Semi-Annual Financial Statements and Other Information - Templeton Income Trust | |||
| Prospectus - Templeton Income Trust SAI | |||
| Summary Prospectus -Templeton Global Bond Enhanced Fund | |||
| Statement of Additional Information - Templeton Income Trust SAI | |||
| Fiscal Q1 Holdings - Templeton Income Trust | |||
| Fiscal Q3 Holdings - Templeton Income Trust |
Risks
All investments involve risks, including possible loss of principal. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Liquidity risk exists when securities or other investments become more difficult to sell, or are unable to be sold, at the price at which they have been valued. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond's issuer, insurer or guarantor, may affect the bond's value. The portfolio is, or could become, non-diversified and may invest in a relatively small number of issuers, which may negatively impact the performance and result in greater fluctuation in value. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund's prospectus.
Important Information
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
Diversification does not guarantee a profit or protect against a loss.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
The FTSE World Government Bond Index ("WGBI") measures the performance of fixed-rate, local-currency, investment-grade sovereign bonds. The WGBI currently comprises sovereign debt from multiple countries, denominated in a variety of currencies. The WGBI provides a broad benchmark for the global sovereign fixed income market.
Source: FTSE.