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Fixed Income

Franklin Strategic Income VIP Fund

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NAV 1 $0.01(0.10%)
$9.57
As of 01/09/2026
Total Net Assets
$272.07M
As of 12/31/2025 (Updated Monthly)

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Overview

Fund Facts

Fund description

Seeks a high level of current income, with capital appreciation over the long term as a secondary goal. The fund normally invests primarily to predominantly in U.S. and foreign debt securities, including those in emerging markets. Debt securities may be high yield lower rated and include all varieties of fixed and floating rate income securities, including bonds, mortgage securities and other asset-backed and convertible securities.

Benchmark
Bloomberg US Aggregate Index
Fund Inception Date
07/01/1999
Share Class Inception Date
07/01/1999

Sales Charges, Expenses & Fees

As of 05/01/2025
Gross Expense Ratio2
0.80%
Net Expense Ratio2,3
0.79%
12b-1 Fee
0.00%

Identifiers

Ticker
—
Fund Number
779
CUSIP Code
355150335
Bloomberg Code
FSTIVIP US

Credit Quality Exposure

View portfolio section for additional info

As of 12/31/2025 - Notional Exposure % of Total (Updated Monthly)

AAA5.58%
AA36.34%
A7.41%
BBB21.33%
BB21.68%
B14.93%
CCC1.99%
C0.01%
D0.01%
Not Rated5.41%
Not Applicable0.03%
Cash & Cash Equivalents-9.98%

Additional Fund Info

Asset Class
Fixed Income
Morningstar Category4
Multisector Bond
Lipper Classification
N/A
Investment Style
Multi-Sector

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Manager and Commentary

About the Team

Franklin Templeton Fixed Income

A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-drives approach means maintaining portfolio and risk exposures that align with client expectations.

Franklin Templeton Fixed Income
[Sonal Desais avatar]

Managed Fund Since 2018

[Michael V Salms avatar]

Managed Fund Since 2024

[Patrick A. Kleins avatar]

Managed Fund Since 2022

[Albert W Chans avatar]

Managed Fund Since 2025

[Patricia O'Connors avatar]

Managed Fund Since 2016

Portfolio Manager Profile
Years of Experience
Manager Location

Latest Insights

January 8, 2026

Flash Insights: Notes on Venezuela

January 6, 2026

Central Bank Watch: Steady as she goes

December 22, 2025

The road ahead: Trends, risks and opportunities

December 18, 2025

Emerging markets debt 2026 outlook

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Portfolio

Assets

As of12/31/2025 (Updated Monthly)

Total Net Assets
$272.07 Million

Positions

As of 12/31/2025 (Updated Monthly)

Number of Holdings
Fund
731
Benchmark
13,974

Portfolio Statistics

As of 12/31/2025 (Updated Monthly)

Effective Duration
Fund
3.49 Years
Benchmark
5.92 Years
Average Weighted Maturity
Fund
8.81 Years
Benchmark
8.17 Years

Asset Allocation

As of 12/31/2025 - Market Value % of Total (Updated Monthly)

Holdings Fund
Fixed Income
109.94%
Equity
0.04%
Cash & Cash Equivalents
-9.98%

 

Bar chart with 3 bars.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from -9.9797 to 109.93583.
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Holdings

As of 11/30/2025 (Updated Monthly)

Franklin Institutional U.​S.​ Government Money Market Fund OEMF-SWEEP MONEY MARKET PORTFOLIO
United States Treasury Note/Bond 4% 02/15/2026
Fannie Mae Or Freddie Mac 5.​5% 12/01/2055 FHLM
United States Treasury Note/Bond 3.​875% 11/30/2027
United States Treasury Note/Bond 2.​75% 07/31/2027
United States Treasury Note/Bond 4.​125% 11/15/2032
Fannie Mae Or Freddie Mac 5% 12/01/2055 FHLM
United States Treasury Note/Bond 3.​875% 01/15/2026
United States Treasury Note/Bond 3.​125% 11/15/2028
United States Treasury Note/Bond 4.​125% 08/31/2030

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. 

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Distributions & Tax

Distribution Frequency
AnnuallyThis fund is an ex-Dividend fund

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

06/13/2025

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.

Skipped to Documents Section Content

Documents

Regulatory Documents
 Name Download Add to Cart
Annual Financial Statements and Other Information - Franklin Strategic Income VIP FundMailed hardcopies unavailable.Download Document
Annual Report - Franklin Strategic Income VIP Fund - Class 1Download Document
Semi-Annual Report - Franklin Strategic Income VIP Fund - Class 1Download Document
Semi-Annual Financial Statements and Other Information - Franklin Strategic Income VIP FundMailed hardcopies unavailable.Download Document
Prospectus - Franklin Templeton Variable Insurance ProductsDownload Document
Summary Prospectus - Franklin Strategic Income VIP FundDownload Document
Statement of Additional Information - Franklin Templeton Variable Insurance ProductsMailed hardcopies unavailable.Download Document
Fiscal Q1 Holdings - Franklin Templeton Variable Insurance ProductsMailed hardcopies unavailable.Download Document
Fiscal Q3 Holdings - Franklin Templeton Variable Insurance ProductsMailed hardcopies unavailable.Download Document

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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. 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. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Floating-rate loans and debt securities are typically rated below investment grade and are subject to greater risk of default, which could result in loss of principal. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. 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. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. 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. 

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Important Information

Franklin Strategic Income VIP Fund is a series of Franklin Templeton Variable Insurance Products Trust, shares of which are generally sold only to insurance company separate accounts to serve as investment options for variable insurance products.

Past performance is no guarantee of future results. These portfolios are available as investment options under a variable annuity or variable life contract. Shares of the portfolios are offered only to insurance company separate accounts that fund certain variable annuity or life contracts. These portfolios may not be available in all states and may only be offered in certain variable products. Please refer to the prospectuses. Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals made prior to age 59 1/2 are subject to a 10% IRS penalty charge and/or surrender charges. Investments in a variable annuity are subject to market risks, including loss of principal. Guarantees are based on the claims-paying ability of the insurer.

VARIABLE ANNUITIES ARE SOLD BY PROSPECTUS ONLY. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO CAREFULLY BEFORE INVESTING. THE PROSPECTUSES CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO. FOR A FREE PROSPECTUS ON THE UNDERLYING PORTFOLIO, PLEASE CLICK ON THE PROSPECTUS LINK. AN INVESTOR SHOULD READ THE PROSPECTUSES CAREFULLY BEFORE INVESTING.

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Important data provider notices and terms available at www.franklintempletondatasources.com.

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 Bloomberg US 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.

Franklin Distributors, LLC. Member FINRA/SIPC.  Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the fund are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.    
FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call Franklin Templeton at (800) 530-2432 for more information.

Footnotes

  1. 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.

  2. 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.

  3. Net Expense Ratio represents the expense ratio applicable to investors. 

  4. ©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.

  5. 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.