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Managed Fund Since 2012
Multi-Asset
FGTZX Franklin Growth Allocation Fund
- Single-Fund Solution. Access to our world class investment management groups — Franklin, Templeton and Franklin Mutual Series — in one investment vehicle.
- Diversification. Broad range of underlying funds provides diversification across style, sector and region.
Popular Documents
Total Net Assets
$1.51B
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 an acceptable level of risk. The manager allocates assets among broad asset classes by investing primarily in a distinctly weighted combination of other funds, predominately other Franklin Templeton affiliated mutual funds and exchange-traded funds. Under normal market conditions, the portfolio managers will allocate 80% to equity funds and 20% to fixed-income funds. The fund is designed for investors seeking a higher level of risk with a longer investment horizon.
- Benchmark
- Linked Franklin Growth Allocation Fund Benchmark-NR
- Additional Benchmark
- MSCI All Country World Index-NR
- Additional Benchmark
- Bloomberg Multiverse Index
- Fund Inception Date
- 12/31/1996
- Dividend Frequency, if any
- Quarterly
- Portfolio Turnover
- 33%
Identifiers
- Ticker
- FGTZX
- Fund Number
- 643
- CUSIP Code
- 35472P877
Average Annual Total Returns As of 10/31/2025
Advisor Class
- 17.96%1 Year
- 17.50%3 Years
- 11.63%5 Years
- 9.68%10 Years
- 7.60%Since Inception
12/31/1996
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
- 12/01/2005
- Investment Style
- Target Risk
- Lipper Classification
- Mixed-Asset Target Allocation Growth Funds
- Morningstar Category
- Moderately Aggressive Allocation
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, 2025- Financial market sentiment improved across the third quarter of 2025. Within the United States, stock markets gained due to increased clarity into US tariff policies, a resilient economy and a more dovish US Federal Reserve (Fed). Early in the quarter, the United States reached trade deals with a number of countries—including the United Kingdom, European Union and Japan—relieving some of the associated uncertainties. Although deals were not reached with other large trading partners, there was an additional 90-day extension in tariff increases with China.
- Global equity markets also advanced through the third quarter of 2025 as tariff anxieties gradually eased, central banks tilted more accommodative and technology leadership persisted. July’s tone improved on clearer trade signals and resilient US earnings; August added gains despite episodic volatility around new tariff measures; and September capped the quarter with a US Fed rate cut that steadied rate-sensitive assets and lifted risk appetite.
- The US Treasury (UST) yield curve steepened slightly, as yields fell more sharply at the short end of the curve, in response to elevated expectations for Fed easing. Global aggregate bond indexes posted modest gains in the third quarter as yield changes varied across countries
Franklin Templeton Investment Solutions
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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
As of 10/31/2025
Advisor Class - With Sales Charge (POP) (%)
Advisor Class - Without Sales Charge (NAV) (%)
Linked Franklin Growth Allocation Fund Benchmark-NR (%)
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
- $1.51 Billion
Positions
As of 10/31/2025 (Updated Monthly)
Number of Issuers
- Fund
- 21
- Benchmark
- 2,511
Asset Allocation
As of 10/31/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 82.80% |
Fixed Income | 14.13% |
Alternatives | 2.36% |
Cash & Cash Equivalents | 0.71% |
Holdings
As of 09/30/2025 (Updated Monthly)
FFAS-Franklin U.S. Core Equity (IU) Fund OEMF USD 1 CL A 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
FFAS-Franklin International Core Equity (IU) Fund OEMF USD 1 CL USD INC Income
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
Franklin U.S. Core Bond ETF ETF USD NPV TIS A/C# 28565
FFAS-FRANKLIN EMERGING MARKET CORE EQUITY (IU) FUND OEMF USD 1 CL USD INC Income
Franklin U.S. Treasury Bond ETF ETF USD NPV TIS A/C # 29614
Franklin Investment Grade Corporate ETF ETF USD NPV TIS A/C #21558
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
- QuarterlyThis 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
09/29/2025
06/27/2025
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 Growth Allocation Fund | |||
| Product Commentary - Franklin Growth Allocation Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin Growth Allocation Fund - Advisor Class | |||
| Annual Financial Statements and Other Information - Franklin Fund Allocator Series | |||
| Semi-Annual Report - Franklin Growth Allocation Fund - Advisor Class | |||
| Semi-Annual Financial Statements and Other Information - Franklin Fund Allocator Series | |||
| Prospectus - Franklin Fund Allocator Series | |||
| Summary Prospectus - Franklin Growth Allocation Fund | |||
| Statement of Additional Information - Franklin Fund Allocator Series | |||
| Fiscal Q1 Holdings - Franklin Fund Allocator Series | |||
| Fiscal Q3 Holdings - Franklin Fund Allocator Series |
Risks
All investments involve risks, including possible loss of principal. Investments in underlying funds are subject to the same risks as, and indirectly bear the fees and expenses of, the underlying funds. 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. The investment style may become out of favor, which may have a negative impact on performance. 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. 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 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.
The Linked Franklin Growth Allocation Fund Benchmark-NR reflects the performance of 56% S&P 500 Index, 24% MSCI EAFE Index, 15% Bloomberg U.S. Aggregate Index and 5% Payden & Rygel 90 Day U.S. T-Bill Index from fund inception to 12/31/2000; 56% S&P 500 Index, 24% MSCI EAFE Index-NR, 15% Bloomberg U.S. Aggregate Index and 5% Payden & Rygel 90 Day U.S. T-Bill Index from 1/1/2001 to 12/31/2012; 56% S&P 500 Index, 24% MSCI EAFE Index-NR and 20% Bloomberg U.S. Aggregate Index from 1/1/2013 to 12/31/14; and 80% MSCI AC World Index-NR and 20% Bloomberg Multiverse Index thereafter. Such a change can impact performance.
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.