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Managed Fund Since 2001
Fixed Income
TGBAX Templeton Global Bond 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 while maintaining a limit on below investment grade exposure.
- 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
Overview
Fund Facts
Fund description
The fund seeks current income with capital appreciation and growth of income by investing at least 80% in bonds, which are predominately issued by governments, government-related entities and government agencies located around the world. The fund regularly enters into various currency-related and other transactions involving derivative instruments.
- Benchmark
- FTSE World Government Bond Index
- Dividend Frequency, if any
- Monthly
- Fund Inception Date
- 09/18/1986
- Distribution Rate at NAV
3 As of 11/13/2025 (Updated Daily) - 6.03%
- Effective Duration
As of 10/31/2025 (Updated Monthly) - 5.08 Years
Identifiers
- Ticker
- TGBAX
- Fund Number
- 616
- CUSIP Code
- 880208400
Average Annual Total Returns As of 10/31/2025
Advisor Class
- 9.72%1 Year
- 4.74%3 Years
- -1.08%5 Years
- -0.01%10 Years
- 5.77%Since Inception
09/18/1986
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 - Market Value % of Total (Updated Monthly)
Additional Fund Info
- Share Class Inception Date
- 01/02/1997
- Investment Style
- N/A
- Lipper Classification
- Global Income Funds
- Morningstar Category
- Global Bond
Manager and Commentary
About the Team
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.
Commentary Highlights
June 30, 2025- Markets: Tariffs dominated much of the news cycle during 2025’s second quarter, which began with US President Donald Trump denoting April 2 as “Liberation Day” and announcing wide-ranging tariff measures. Negotiations around final tariff levels for a number of countries were still taking place by the end of the quarter. The US dollar (USD) continued to weaken during the period. Actual inflation outcomes have largely been benign, but there has been some halt in progress, and higher inflation expectations (related to tariffs) engender caution about future paths. Global monetary policy remains in an easing cycle, though officials have voiced concern about the effects of tariffs on growth and inflation. The US Federal Reserve kept the federal funds target rate unchanged at 4.25%–4.50% during the quarter. Geopolitical conflicts flared up again during the period, including a brief conflict between India and Pakistan and a slightly longer one between Israel and Iran, though there has been no lasting impact on financial and commodity markets.
- Contributors: Currency positions contributed to absolute fund performance for the quarter, as did interest-rate strategies and sovereign credit exposures.
- Detractors: The fund’s net-negative position in the euro detracted from absolute results.
- Outlook: We continue to closely monitor the evolution of tariffs and their potential impacts on US and global growth, inflation and monetary policy across countries.
Franklin Templeton Fixed Income
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Managed Fund Since 2018
Latest Insights
November 7, 2025
October 27, 2025
October 3, 2025
June 11, 2025
Performance
As of 10/31/2025
Advisor Class - With Sales Charge (POP) (%)
Advisor Class - Without Sales Charge (NAV) (%)
FTSE World Government Bond 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.
For performance reporting purposes, the inception date for Classes A/A1, R, R6, Z, and Advisor Class shares of all Franklin Templeton Funds is the date of effectiveness of the fund's registration statement or the first day the fund commenced operations. For Class C shares, generally the inception date is the first day the fund commenced offering such shares. Exceptions: Templeton Global Balanced Fund Classes A and C use the inception date of the old Class A and C shares, renamed Class A1 and Class C1. For Franklin Mutual Series Funds and Franklin International Small Cap Growth Fund, the inception date for Classes A, C, R and R6 shares is the funds' oldest class', Z or Advisor, inception date. Franklin U.S. Government Money Fund Class R6 inception date is the first day it commenced offering such shares.
Ratings 12
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Portfolio
Assets
As of10/31/2025 (Updated Monthly)
- Total Net Assets
- $3.12 Billion
Positions
As of 10/31/2025 (Updated Monthly)
Number of Holdings
- Fund
- 76
- Benchmark
- 1,331
Portfolio Statistics
As of 10/31/2025 (Updated Monthly)
Effective Duration
- Fund
- 5.08 Years
- Benchmark
- 6.78 Years
- Fund
- 6.57 Years
- Benchmark
- 8.51 Years
Asset Allocation
As of 10/31/2025 - Market Value % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Fixed Income | 81.57% |
Cash & Cash Equivalents | 18.43% |
Holdings
As of 09/30/2025 (Updated Monthly)
Franklin Institutional U.S. Government Money Market Fund OEMF-SWEEP MONEY MARKET PORTFOLIO
Malaysia Government Bond 3.899% 11/16/2027
Brazil Notas Do Tesouro Nacional Serie F 9.919193% 1/01/2031 STATED RATE 10%
India Government Bond 7.26% 08/22/2032
Norway Government Bond 1.75% 02/17/2027 REG S
Brazil Notas do Tesouro Nacional Serie F 01/01/2029 STATED RATE 10%
Queensland Treasury Corp 1.75% 07/20/2034 144A REG S
Uruguay Government International Bond 3.875% 07/02/2040 INDEX LINKED URUIURUI Index
Treasury Corp Of Victoria 2% 11/20/2037
Spain Government Bond 3.15% 04/30/2035 144A REG S
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) 6.03%
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
12/24/2025
10/27/2025
09/24/2025
08/25/2025
07/25/2025
06/24/2025
05/22/2025
04/24/2025
03/25/2025
02/24/2025
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 - Templeton Global Bond Fund | |||
| Product Commentary - Templeton Global Bond Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Templeton Global Bond Fund - Advisor Class | |||
| Annual Financial Statements and Other Information - Templeton Income Trust | |||
| Semi-Annual Report - Templeton Global Bond Fund - Advisor Class | |||
| Semi-Annual Financial Statements and Other Information - Templeton Income Trust | |||
| Prospectus - Templeton Income Trust SAI | |||
| Summary Prospectus - Templeton Global Bond 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. 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. 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. 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. Active and frequent trading may increase a shareholder’s tax liability and transaction costs. 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
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 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.
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.