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Managed Fund Since 2025
Multi-Asset
FLTKX Franklin LifeSmart 2055 Retirement Target Fund
- 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
Popular Documents
Total Net Assets
$52.96M
As of 10/31/2025 (Updated Monthly)
Overview
Fund Facts
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 2055 approaches, and reaching its final and most conservative asset allocation in approximately eight 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).
- Benchmark
- Blended Benchmark
- Additional Benchmark
- MSCI All Country World Index-NR
- Additional Benchmark
- Bloomberg Multiverse Index
- Fund Inception Date
- 05/01/2015
- Dividend Frequency, if any
- Semiannually
- Portfolio Turnover
- 27%
Identifiers
- Ticker
- FLTKX
- Fund Number
- 999
- CUSIP Code
- 35473A507
Average Annual Total Returns As of 10/31/2025
Advisor Class
- 20.92%1 Year
- 19.73%3 Years
- 13.22%5 Years
- 10.05%10 Years
- 9.15%Since Inception
05/01/2015
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 10/31/2025 % of Total (Updated Monthly)
Additional Fund Info
- Share Class Inception Date
- 05/01/2015
- Investment Style
- Target Date
- Lipper Classification
- Mixed-Asset Target 2055 Funds
- Morningstar Category
- Target-Date 2055
Manager and Commentary
About the Team
Franklin Templeton Investment Solutions
Franklin Templeton Investment Solutions (FTIS) is a leader in multi-asset, quantitative, and hedged solutions, leveraging a global network of investment teams to offer innovative and diversified strategies. With a focus on long-term investing, we combine deep research, active management, and data-driven insights to create solutions which seek to meet the evolving needs of investors worldwide.
Commentary Highlights
September 30, 2025Access the latest commentary, performance review and market outlook in one place.
Franklin Templeton Investment Solutions
![[Thomas Nelsons avatar]](https://franklintempletonprod.widen.net/content/wb0irvxlsv/webp/Nelson_Thomas_500x500.png){kind=avatar}
Managed Fund Since 2015
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Managed Fund Since 2021
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Managed Fund Since 2025
Latest Insights
November 7, 2025
October 13, 2025
July 17, 2025
Performance
Calendar Year Returns
As of 10/31/2025
Advisor Class - With Sales Charge (POP) (%)
Advisor Class - Without Sales Charge (NAV) (%)
Blended Benchmark (%)
MSCI All Country World Index-NR (%)
Bloomberg Multiverse Index (%)
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 3
©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 of10/31/2025 (Updated Monthly)
- Total Net Assets
- $52.96 Million
Positions
As of 10/31/2025 (Updated Monthly)
Number of Issuers
- Fund
- 14
- Benchmark
- 2,511
Asset Allocation
As of 10/31/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Domestic Equity | 64.74% |
Foreign Equity Funds | 31.77% |
Fixed Income Funds | 1.75% |
Alternatives | 0.99% |
Cash & Cash Equivalents | 0.75% |
Holdings
As of 09/30/2025 (Updated Monthly)
FFAS-Franklin U.S. Core Equity (IU) Fund OEMF USD 1 CL A Income
FFAS-Franklin International Core Equity (IU) Fund OEMF USD 1 CL USD INC Income
FCF-FRANKLIN GROWTH FUND OEMF USD NPV CL R6 TIS A/C# 4306
Franklin U.S. Equity Index ETF ETF USD NPV TIS A/C# 21414
Putnam Large Cap Value Fund OEMF USD 1 CL R6 Income
Franklin U.S. Large Cap Multifactor Index ETF ETF USD NPV TIS A/C #25773
FFAS-FRANKLIN EMERGING MARKET CORE EQUITY (IU) FUND OEMF USD 1 CL USD INC Income
Templeton Developing Markets Trust OEMF USD NPV CL R6 TIS A/C# 505
TF-TEMPLETON FOREIGN FUND OEMF USD NPV CL R6 TIS A/C# 37
Clearbridge International Growth Fund OEMF USD 1 CL IS TIS A/C# 90096
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
- SemiannuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- June, December
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
12/29/2025
06/13/2025
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 - Franklin LifeSmart 2055 Retirement Target Fund | |||
| Product Commentary - Franklin LifeSmart Retirement Funds |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin LifeSmart 2055 Retirement Target Fund - Advisor Class | |||
| Annual Financial Statements and Other Information - Franklin Fund Allocator Series - Retirement funds | |||
| Semi-Annual Report - Franklin LifeSmart 2055 Retirement Target Fund - Advisor Class | |||
| Semi-Annual Financial Statements and Other Information - Franklin Fund Allocator Series | |||
| Prospectus - Franklin LifeSmart Retirement Target Funds | |||
| Summary Prospectus - Franklin LifeSmart 2055 Retirement Target Fund | |||
| Statement of Additional Information - Franklin LifeSmart Retirement Target Funds | |||
| Fiscal Q1 Holdings - Franklin Fund Allocator Series | |||
| Fiscal Q3 Holdings - Franklin Fund Allocator Series |
Risks
All investments involve risks, including possible loss of principal. The fund is actively managed and could experience losses if the investment manager's and subadvisors' judgment about particular investments made for the fund's portfolio prove to be incorrect. The allocation of assets among different strategies, asset classes and investments may not prove beneficial or produce the desired results. Some subadvisors may have little or no experience managing the assets of a registered investment company. 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. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Currency management strategies could result in losses to the fund if currencies do not perform as expected. Short selling is a speculative strategy. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short. Investments in companies engaged in mergers, reorganizations or liquidations also involve special risks as pending deals may not be completed on time or on favorable terms. 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. These and other risks are discussed in the fund’s prospectus.
Important Information
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.
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.
The Blended Benchmark is currently allocated to the MSCI All Country World Index-NR and Bloomberg Multiverse Index. Blended Benchmark index allocations are based on an asset class allocation that matches the fund's glide path over time.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Bloomberg Indices.
The fund’s Blended Benchmark is an allocation of 95% MSCI AC World Index-NR and 5% Bloomberg Multiverse Index. Allocations for the fund’s Blended Benchmark reflect or map the fund’s current target asset class allocations and may not be representative of the fund’s historical asset class allocations. Performance for the Blended Benchmark is based on an asset class allocation that matches the glide path of the Franklin LifeSmart Funds over time. Prior to May 1, 2019, the Blended Benchmark had an allocation to FTSE 3 Month U.S. T-Bill Index.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Bloomberg Indices.
The MSCI All Country World Index is a market capitalization-weighted index that is designed to measure equity market performance of developed and emerging markets.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.
Net Returns (NR) include income net of tax withholding when dividends are paid.
The Bloomberg Multiverse Index provides a broad-based measure of the global fixed income bond market.
Source: Bloomberg Indices.
Effective 1/29/2021, the fund modified the landing point of its glide path (the strategic asset allocation of a target date fund over time) to be in line with the new required minimum distribution (RMD) age of 72. Effective 5/1/19, the fund made changes to its glide path and asset allocation, including removing its strategic allocation to alternative investments. Additionally, the fund revised its fee waiver and expense reimbursement arrangements to include acquired fund fees and expenses. Such changes can impact performance. The fund's investment goal has remained the same.
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.