Fixed Income

FASBX Franklin Templeton SMACS: Series CP

Overview

See the risks and other important information.

Fund Facts

Benchmark: Bloomberg U.S. Aggregate Index
Fund Inception Date: 06/20/2025
Dividend Frequency, if any: Monthly

Sales Charges, Expenses & Fees

As of 05/01/2026

Gross Expense Ratio²: 1.79%
Net Expense Ratio^2,3: 0.00%
Maximum Initial Charge: —
CDSC: N/A
12b-1 Fee: N/A

Additional Fund Info

Share Class Inception Date: 06/20/2025
Investment Style: N/A
Lipper Classification: General Bond Funds
Morningstar Category⁴: Multisector Bond

Identifiers

Ticker: FASBX
Fund Number: 3012
CUSIP Code: 35471D875

Manager and Commentary

Franklin Templeton Fixed Income

Managed Fund Since 2025

Portfolio

Assets

As of06/30/2026 (Updated Monthly)

Total Net Assets: $8.10 Million

Positions

As of 06/30/2026 (Updated Monthly)

Number of Holdings

Fund: 337

Portfolio Statistics

As of 06/30/2026 (Updated Monthly)

Effective Duration

Fund: 6.46 Years
Benchmark: 5.81 Years

Average Weighted Maturity

Fund: 6.46 Years
Benchmark: 8.16 Years

Sector Exposure
Notional exposure figures are estimated and are intended to show the portfolio's direct exposure to securities and indirect exposure, through derivatives. Direct and indirect exposures are subject to change over time and methodologies for calculating indirect exposures vary by derivative type. Portfolio breakdown percentages may not total 100% and may be negative due to rounding, use of derivatives, unsettled trades or other factors.

As of 06/30/2026 - Notional Exposure % of Total (Updated Monthly)

Sector Exposure
Sector	% of Total	Benchmark
Investment Grade Corporates	33.34%	23.94%
Interest Rate Derivatives	28.81%	—
Agency Mortgage-Backed Securities	25.93%	23.67%
High Yield Corporates	19.71%	—
Collateralized Loan Obligation	15.98%	—
Residential Mortgage-Backed Securities	13.78%	—
Non-Local Currency Emerging Market Bonds	5.93%	0.87%
Bank Loans	4.99%	—
Commercial Mortgage Backed Securities	3.74%	1.43%
Non-US Developed Bonds	0.17%	2.44%
U.S. Treasuries	—	45.66%
Other	—	0.58%
U.S. Agency	—	0.56%
Municipal Bonds	—	0.43%
Asset-Backed Securities	—	0.42%
Cash & Cash Equivalents	-12.61%	—

Holdings
As of 05/31/2026 (Updated Monthly)

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

Fannie Mae Or Freddie Mac 4.5% 06/01/2056 FHLM

Fannie Mae Or Freddie Mac 2% 06/01/2056 FHLM

Fannie Mae Or Freddie Mac 2.5% 06/01/2056 FHLM

Fannie Mae Pool 2.5% 05/01/2052 FNMA

Elmwood CLO 30 Ltd FRN 07/17/2037 144A 2024-6A A

Balboa Bay Loan Funding 2022-1 Ltd FRN 04/20/2037 144A 2022-1A AR

CARLYLE US CLO 2021-11 LTD FRN 07/25/2037 144A 2021-11A A1R

Ares LXIX CLO Ltd FRN 04/15/2036 144A 2024-69A A1R

Neuberger Berman Loan Advisers Clo 51 Ltd FRN 10/23/2036 144A 2022-51A AR2

Distributions & Tax

Distribution Frequency
Ex-Dividend Fund: This type of fund declares periodic dividends, which are paid to shareholders who own the fund as of a certain date - known as the "record date". After the record date, the fund is said to be trading "ex-dividend"(literally, without the dividend). An investor who buys shares during the interval between the record date and the payment of the dividend does not receive the dividend. A fund that's in the ex-dividend period is marked with an "x" in newspaper listings.

Daily Accrual Fund: This type of fund typically declares income dividends each day that its net asset value is calculated. These dividends remain in the fund until the designated reinvestment or payment date and are distributed to the shareholders, generally once a month, as additional shares or cash, respectively.: MonthlyThis fund is an ex-Dividend fund
Capital Gain Distributions: -

Proposed 2026 distribution dates for Franklin, Templeton and Mutual Series funds (excluding ETFs).

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
Distributions with future dates are estimates and those figures are not final

06/24/2026

05/22/2026

04/24/2026

03/25/2026

02/23/2026

01/26/2026

Pricing

Pricing History

As of 07/09/2026 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices

As of 07/09/2026

Share Prices

As of 07/09/2026

NAV ¹(Net Asset Value): $10.01

52-Week Range

Highest NAV As of 10/27/2025: $10.34
Lowest NAV As of 03/27/2026: $9.95

Documents

Regulatory Documents

Annual Report - Franklin Templeton SMACS: Series CP - Single Class

Annual Financial Statements And Other Information - Franklin Strategic Series

Semiannual Report- Franklin Templeton SMACS: Series CP

Semiannual Financial Statements And Other Information - Franklin Strategic Series

Prospectus - Franklin Strategic Series 4

Summary Prospectus - Franklin Templeton SMACS: Series CP

Statement Of Additional Information - Franklin Strategic Series 4

Mailed hardcopies unavailable.

Fiscal Q1 Holdings - Franklin Strategic Series

Fiscal Q3 Holdings - FRANKLIN STRATEGIC SERIES

Risks

All investments involve risks, including 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. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. The fund is newly organized, with a limited history of operations. 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. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. 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.

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.

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

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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.

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.

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 Bloomberg U.S. Aggregate Index is comprised of investment-grade, U.S. dollar-denominated government, corporate, and mortgage- and asset-backed issues having at least one year to maturity.
Source: Bloomberg Indices.

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.
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.
©2026 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.
Credit Quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security's rating as provided by S&P Global Ratings, Moody's Investors Service and/or Fitch Ratings, Inc. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, the manager assigns each security the middle rating from these three agencies. When only two agencies provide ratings, the lower of the two ratings will be assigned. When only one agency assigns a rating, that rating will be used. Foreign government bonds without a specific rating are assigned a country rating, if available. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the portfolio does not apply to the stability or safety of the portfolio. The methodology used for the calculation of credit quality ratings displayed may differ from the methodology for monitoring investment limits, if applicable. Please note, the portfolio itself has not been rated by an independent rating agency.

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