Multi-Asset

TINCX Templeton Global Dynamic Income Fund

Global Expertise. The fund combines the global expertise and research resources of the Templeton Global Equity Group and Templeton Global Macro to offer an integrated, multi-asset investment strategy focused on long-term fundamental value. Close collaboration and aligned objectives between the investment teams result in a dynamic portfolio.
Global Diversification. The teams global resources and regional market expertise provides the flexibility to adjust exposures across fluctuating market environments and all phases of the investment cycle.
Professional, Dynamic Asset Allocation. Asset allocation decisions are a team effort that take into consideration asset class valuations, volatility levels and underlying fundamentals to create appropriately balanced, high-conviction value portfolios. Depending on valuations and other factors, the investment team has the flexibility to adjust the allocation as necessary.

Overview

See the risks and other important information.

Fund Facts

Fund description

The fund seeks both income and capital appreciation by investing in a diversified portfolio of global bonds and equities, and offers a dynamic, bottom-up allocation process. The fund normally invests at least 25% of its assets in fixed income securities and at least 25% of its assets in equity securities.

Benchmark: MSCI All Country World Index-NR
Additional Benchmark³: JP Morgan Global Government Bond Index
Additional Benchmark³: Blended 50% MSCI All Country World Index-NR + 50% JP Morgan Global Government Bond Index
Fund Inception Date: 07/01/2005
Dividend Frequency, if any: Monthly
Number of HoldingsAs of 10/31/2025 (Updated Monthly): 146

Sales Charges, Expenses & Fees

As of 05/01/2025

Gross Expense Ratio⁴: 1.26%
Net Expense Ratio^4,5: 1.21%
Maximum Initial Charge: 3.75%
CDSC⁶: 1.00%
12b-1 Fee: 0.25%

Identifiers

Ticker: TINCX
Fund Number: 425
CUSIP Code: 88019R799

Average Annual Total Returns As of 10/31/2025

View performance section for additional info As of 10/31/2025

Class A1

With Sales Charge (POP)

Without Sales Charge (NAV)

13.98%1 Year
13.81%3 Years
5.18%5 Years
2.59%10 Years
4.64%Since Inception
07/01/2005

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 Sectors

View portfolio section for additional info

As of 10/31/2025 - Market Value % of Equity (Updated Monthly)

Top Sectors
Banks19.01%
AAA0.99%
Health Care Equipment & Services13.03%
AA2.33%
A1.62%
Technology Hardware & Equipment12.42%
Capital Goods12.03%
BBB27.48%
Energy8.30%
BB32.90%
B27.68%
CCC6.31%
Not Rated0.44%
Not Applicable0.26%

Additional Fund Info

Share Class Inception Date: 07/01/2005
Investment Style: Balanced
Lipper Classification: Mixed-Asset Target Allocation Moderate Funds
Morningstar Category⁷: Global Moderate Allocation

Manager and Commentary

About the Team

Templeton Global Investments

Templeton Global Investments combines extensive local presence and expertise with a flexible investment approach to give clients access to a broad set of global growth opportunities.

Templeton Global Macro

Templeton Global Macro is a pioneer in unconstratined global fixed income investing. The team combines qualitative macroeconomic analysis with quantitative tools, looking byeond traditional fixed income benchmarks, and aims to pinpoint the most attractive investment opportunities globally.

Templeton Global Investments

Managed Fund Since 2005

Managed Fund Since 2022

Managed Fund Since 2023

Latest Insights

November 6, 2025

Emerging Markets Insights: AI and beyond

November 6, 2025

Templeton Global Investments Emerging Markets Q&A

October 30, 2025

International equities: 2025 revival may be the start of a longer-term revival

April 4, 2024

Global Equity Pulse

Performance

Average Annual Total Returns

¹³

As of 10/31/2025

Month End

Quarter End

As of

Class A1 - With Sales Charge (POP) (%)

Month End

As of 10/31/2025

Class A1 - Without Sales Charge (NAV) (%)

Month End

As of 10/31/2025

MSCI All Country World Index-NR (%)

Month End

As of 10/31/2025

JP Morgan Global Government Bond Index (%) ³

Month End

As of 10/31/2025

Blended 50% MSCI All Country World Index-NR + 50% JP Morgan Global Government Bond Index (%) ³

Month End

As of 10/31/2025

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.

See the risks and other important information.

Overall Morningstar Rating: Overall Morningstar Rating: 2 out of 5 stars
As of 10/31/2025

3 Years: 3 Years: 4 out of 5 stars
410 Funds in category

5 Years: 5 Years: 1 out of 5 stars
397 Funds in category

10 Years: 10 Years: 1 out of 5 stars
320 Funds in category

Rating Category: Global Moderate Allocation

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.

Morningstar Style Box

As of 10/31/2025

Current Historical
			Large
			Medium
			Small
Value	Blend	Growth
Style

Size

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

©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: $312.64 Million

Positions

As of 10/31/2025 (Updated Monthly)

Number of Holdings

Fund: 146
Benchmark: 2,511

Portfolio Statistics

As of 10/31/2025 (Updated Monthly)

Price to Book

Fund: 1.67x
Benchmark: 3.61x

Average Weighted Maturity

Fund: 8.18 Years
Benchmark: —

Price to Earnings (12-Month Trailing)

Fund: 18.35x
Benchmark: 23.33x

Price to Cash Flow

Fund: 8.41x
Benchmark: 14.68x

Effective Duration

Fund: 5.39 Years
Benchmark: —

Asset Allocation

As of 10/31/2025 - Market Value % of Total (Updated Monthly)

Asset Allocation
Holdings	Fund
Equity	53.55%
Fixed Income	37.91%
Cash & Cash Equivalents	8.54%

Holdings
As of 10/31/2025 (Updated Monthly)

Cash and Cash Equivalents

India Government Bond 7.26% 08/22/2032

Republic Of Kenya Government International Bond 9.75% 02/16/2031 144A

Taiwan Semiconductor Manufacturing Co Ltd ORD TWD10

BP PLC ORD GBP.25

Franklin Institutional U.S. Government Money Market Fund OEMF-SWEEP MONEY MARKET PORTFOLIO

Colombian TES 9.25% 05/28/2042

KeyCorp COM USD1

Uruguay Government International Bond 3.875% 07/02/2040 INDEX LINKED URUIURUI Index

Imperial Brands PLC ORD GBP.1

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

Federal ID Number 20-2852473

For information on tax years prior to 2008, please contact us

These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.

Distributions per Share ($)

Year

Tax Information
Record Date	Ordinary Dividends Dividends paid by a fund that are derived from interest, dividends, net short-term capital gains and other types of ordinary income earned by the fund. For a fund that elects to pass through its foreign taxes paid (a non-cash item), a shareholder's allotted share of foreign taxes has been added to the “Ordinary Dividends” cash distributions received by the shareholder. If the fund passed through foreign taxes paid and later is refunded any portion of those taxes by a foreign tax authority, any interest paid to the fund on that refund is also required to be included in “Ordinary Dividends”.	Qualified Dividends The portion of a fund’s “Ordinary Dividends” that may be eligible for a reduced capital gain tax rate. To be eligible for the lower tax rates, certain holding periods apply and shareholders should consult their tax advisor to determine the amount eligible for the reduced rate. This amount represents both cash distributions and non-cash amounts, such as foreign taxes paid, that have been allocated to shareholders.	Capital Gain Distributions	Unrecaptured Section 1250 Gain	Non-Taxable Return Of Capital	Section 199a Dividends The portion of a fund’s “Ordinary Dividends” generated by a real estate investment trust or earned by a fund from its investments in real estate investment trusts, subject to limitations. Individual (non-corporate) shareholders may be entitled to a special deduction from gross income for “Section 199A Dividends” received from a fund. To qualify for this deduction certain holding periods apply and shareholders should consult their tax advisor.	Foreign Tax Paid	Exempt Interest Dividends	Interest on Tax Reclaim Refunds
Mar 19	0.014869	0.008119	—	—	0.010694	—	0.004163	—	—
Jun 18	0.019962	0.010899	—	—	0.019938	—	—	—	—
Sep 13	—	—	—	—	—	—	—	—	—
Sep 19	0.01641	0.00896	—	—	0.01639	—	—	—	—
Dec 19	0.014409	0.007867	—	—	0.014391	—	—	—	—
	0.06565	0.035845	—	—	0.061413	—	0.004163	—	—

Mar 19

Jun 18

Sep 13

Sep 19

Dec 19

Supplemental Tax Information

Foreign Source Income: 100.00%
Foreign Source Qualified Dividends: —
Direct U.S. Government Obligations The portion of “Ordinary Dividends” attributable to earnings from US Treasury and certain other government securities may be categorized as a fund containing US government obligations. This income may be exempt from state personal income taxes. The percentage for direct US government obligation interests available for tax-exempt treatment may be limited in states that require the fund to meet certain minimum thresholds. Shareholders should consult their tax advisor to determine the availability of exemptions in their state.: 0.86%
Specified Private Activity Bond Interest: —
Dividends Received Deduction: 13.13%
Section 163(j): 86.87%
Indiana Resident Taxable Income: —
Utah Resident Taxable Income The portion of “Exempt-Interest Dividends” subject to Utah income tax. Subject to certain exceptions, the state of Utah provides that income earned from non-federal government entities outside of Utah (non-Utah municipal bonds) is taxable to Utah resident shareholders. Income earned from states that do not tax Utah obligations are also exempt. Shareholders should consult their tax advisor about applicability.: —

Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Pricing

Pricing History

As of 11/26/2025 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices and Breakpoints

As of 11/26/2025

Share Prices

As of 11/26/2025

NAV ¹(Net Asset Value): $2.85
NAV Change ¹: $0.02
NAV Change (%) ¹: 0.71%
POP ¹²(Public Offering Price): $2.96

POP and Sales Charge at Breakpoints

Less than $100,000

$100,000 - $249,999

$250,000 - $499,999

52-Week Range

Highest NAV As of 11/12/2025: $2.87
Lowest NAV As of 04/08/2025: $2.31

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download	Add to Cart
Checkbox	Factsheet - Templeton Global Dynamic Income Fund	Download Document

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Annual Report - Templeton Global Dynamic Income Fund - Class A1	Download Document
Checkbox	Annual Financial Statements and Other Information - Templeton Global Dynamic Income Fund	Download Document
Checkbox	Semi-Annual Report - Templeton Global Dynamic Income Fund - Class A1	Download Document
Checkbox	Semi-Annual Financial Statements and Other Information - Templeton Global Dynamic Income Fund	Download Document
Checkbox	Prospectus - Templeton Global Dynamic Income Fund	Download Document
Checkbox	Summary Prospectus - Templeton Global Dynamic Income Fund	Download Document
Checkbox	Statement of Additional Information - Templeton Global Dynamic Income FundMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q1 Holdings - Templeton Global Dynamic Income FundMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q3 Holdings - Templeton Global Dynamic Income FundMailed hardcopies unavailable.	Download Document

View Proxy Voting Records and Proxy Voting Policies

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. Equity securities are subject to price fluctuation and possible loss of principal. 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. 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. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Investments in equity-linked notes often have risks similar to their underlying securities, which could include management risk, market risk and, as applicable, foreign securities and currency risks. 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.

Managed Distribution Policy Risks - The fund is not guaranteed to achieve its investment goal nor is there any guarantee that the fund will provide sufficient income at or through the investor's retirement. In addition, some of its distributions may be treated in part as a return of capital, which will decrease shareholders' cost basis in the fund and affect the amount of any capital gain or loss that they realize when selling or exchanging fund shares. The annual payout rate may be adjusted higher or lower from year to year and could vary substantially over time. It is possible for the fund to suffer substantial investment losses and simultaneously experience additional asset reductions as a result of its distributions to shareholders under the managed distribution policy. Investors who hold the fund within a tax-advantaged retirement account should consult their tax professionals to discuss tax consequences of receiving cash distributions. In addition, use of the fund or election of the option to receive distribution payments in cash may be restricted in certain retirement plans by the terms of the governing plan documents and/or the discretion of the plan administrator. Investors are strongly advised to consult with their financial professional for assistance before selecting the appropriate fund, based on their goals and personal situations, including time horizon, retirement income needs, risk tolerance, and tax bracket.

Important Information

Click here for funds sales charge and breakpoint 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 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 JP Morgan Global Government Bond Index is a market value weighted fixed income index comprised of government bonds in developed countries.
Source: JP Morgan.

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.

Footnotes

Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.
Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.
Effective August 1, 2025, the fund changed the Bloomberg Multiverse Index to the JP Morgan Global Government Bond Index and the bond component of the Blended 50% MSCI All Country World Index-NR + 50% JP Morgan Global Government Bond Index had the same index change.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
For net asset value (NAV) purchases, a 1% contingent deferred sales charge (CDSC) may apply to shares redeemed within 18 months.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics.
©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.
Distribution Rate is calculated by annualizing the most recent distribution amount paid, divided by the NAV as of the date indicated. The Distribution Rate calculation includes income and return of capital, and excludes special distributions. The Distribution Rate is not guaranteed, subject to change, and is not a quotation of fund performance.
During periods of rising inflation, fund yields can vary significantly from month-to-month and may not be repeated.
With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.
30-Day SEC Yield is calculated using the net income (interest and dividends) per share earned over a trailing 30-day period (annualized), divided by the fund’s share price at the end of that period. It may not equal the fund’s actual income distribution rate, which reflects the fund’s past dividends paid to shareholders.
Public Offering Price – the purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.
Effective 9/27/11, Class A shares were renamed Class A1. This share class is only available for shareholders who purchased prior to July 1, 2011.

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Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday

Individual Investor

Financial Professional

Institutional Investor

TINCX Templeton Global Dynamic Income Fund

Popular Documents

Limited Offering of Class A1 Shares

Fund changes

Overview

Fund description

Sales Charges, Expenses & Fees

Identifiers

Class A1

Top Sectors

Additional Fund Info

Manager and Commentary

About the Team

Latest Insights

Performance

Average Annual Total Returns

Ratings 7

Portfolio

Asset Allocation Portfolio breakdown percentages may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

Distributions & Tax

Federal ID Number 20-2852473

Pricing

Chart

Daily Fund Prices and Breakpoints

Documents

Risks

Important Information

Footnotes

Ratings ⁷

Asset Allocation