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Franklin Small-Mid Cap Growth VIP Fund

As of 11/03/2025

NAV 1

$19.06

 
 

Overview

Fund Description

The fund seeks long-term capital growth by investing at least 80% of its net assets in equity securities of small and medium-sized companies, within the market capitalization ranges of the Russell 2500™ Index for small-sized companies and Russell Midcap® Index for medium-sized companies, at the time of purchase.

Fund Information
Asset Class 
Equity
Total Net Assets  As of 09/30/2025 (Updated Monthly)
$426.72 Million
Fund Inception Date 
11/01/1995
Share Class Inception Date 
11/01/1995
Benchmark 
Russell Midcap Growth Index
Additional Benchmark 
S&P 500 Index
Investment Style 
Growth
Morningstar Category 
Mid-Cap Growth
Lipper Classification 
Mid-Cap Growth Funds
Portfolio Turnover 
32%
Sales Charges, Expenses & Fees
As of 05/01/2025
Gross Expense Ratio2 
0.84%
Net Expense Ratio23 
0.83%
12b-1 Fee 
0.00%
Identifiers
Ticker 
-
Fund Number 
723
CUSIP Code 
355150749
Bloomberg Code 
FSMGVIP US

Portfolio Managers

John Scandalios, CFA®

California, United States

Managed Fund Since 2016

Michael McCarthy, CFA®

California, United States

Managed Fund Since 1995

Jennifer Chen

California, United States

Managed Fund Since 2024

Portfolio

Portfolio Holdings

Holdings

As of 09/30/2025 Updated Monthly
Security Name 
ROBLOX Corp COM USD 0.0001 CL A
Weight (%) 
4.52
Market Value ($) 
19,295,836
Quantity 
139,300
Security Name 
Royal Caribbean Cruises Ltd ORD USD.01
Weight (%) 
3.18
Market Value ($) 
13,559,620
Quantity 
41,905
Security Name 
Doordash Inc COM USD 0.00001 CL A
Weight (%) 
2.70
Market Value ($) 
11,532,920
Quantity 
42,402
Security Name 
Howmet Aerospace Inc COM USD1
Weight (%) 
2.39
Market Value ($) 
10,183,945
Quantity 
51,898
Security Name 
Datadog Inc COM USD 0.00001 CL A
Weight (%) 
2.37
Market Value ($) 
10,110,400
Quantity 
71,000
Security Name 
ARES MANAGEMENT CORP COM USD NPV CL A
Weight (%) 
2.35
Market Value ($) 
10,009,114
Quantity 
62,600
Security Name 
AXON ENTERPRISE INC COM USD.00001
Weight (%) 
2.25
Market Value ($) 
9,597,717
Quantity 
13,374
Security Name 
Monolithic Power Systems Inc COM USD1
Weight (%) 
2.17
Market Value ($) 
9,242,305
Quantity 
10,039
Security Name 
Tractor Supply Co COM USD.008
Weight (%) 
2.07
Market Value ($) 
8,848,119
Quantity 
155,585
Security Name 
Vertiv Holdings Co COM USD 0.0001
Weight (%) 
2.05
Market Value ($) 
8,761,647
Quantity 
58,078

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

Distributions

Distribution Schedules

Dividend Frequency, if any  This fund is an ex-Dividend fund
Annually

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

Current Year Distributions Per Share
Distribution amounts may be estimates
Record Date  
06/13/2025
Ex-Dividend Date  
06/16/2025
Reinvestment Date  
06/16/2025
Payable Date  
06/16/2025
Reinvestment Price  
$18.44
Long-Term Capital Gains  
$0.8437
Short-Term Capital Gains  
Income  
Total Distribution Per Share  
$0.8437

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.

Tax Information

Tax Information

Federal ID Number 94-3230641
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 ($)
Record Date  
Jun 14
Ordinary Dividends  
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Ordinary Dividends  
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Supplemental Tax Information
Foreign Source Income 
Foreign Source Qualified Dividends 
Direct U.S. Government Obligations 
Specified Private Activity Bond Interest 
Dividends Received Deduction 
Section 163(j) 
Indiana Resident Taxable Income 
Utah Resident Taxable Income 

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.

Documents

Regulatory Documents

PDF Format

Statement of Additional Information - Franklin Templeton Variable Insurance Products

Mailed hardcopies unavailable.

PDF Format

Prospectus - Franklin Templeton Variable Insurance Products

PDF Format

Fiscal Q3 Holdings - Franklin Templeton Variable Insurance Products

Mailed hardcopies unavailable.

PDF Format

Fiscal Q1 Holdings - Franklin Templeton Variable Insurance Products

Mailed hardcopies unavailable.

PDF Format

Summary Prospectus - Franklin Small-Mid Cap Growth VIP Fund

PDF Format

Annual Report - Franklin Small-Mid Cap Growth VIP Fund - Class 1

PDF Format

Annual Financial Statements and Other Information - Franklin Small-Mid Cap Growth VIP Fund

Mailed hardcopies unavailable.

PDF Format

Semi-Annual Report - Franklin Small-Mid Cap Growth VIP Fund - Class 1

PDF Format

Semi-Annual Financial Statements and Other Information - Franklin Small-Mid Cap Growth VIP Fund

Mailed hardcopies unavailable.

Risks

What Are The Key Risks?

All investments involve risks, including possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. 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. To the extent the fund invests in privately held companies they present certain challenges and involve incremental risks as opposed to investments in public companies, such as dealing with the lack of available information about these companies as well as their general lack of liquidity. 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.