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Managed Fund Since 2021
Multi-Asset
QLMLFX Franklin Multi-Asset Variable Conservative Growth Fund
Popular Documents
Total Net Assets
$76.48M
As of 11/30/2025 (Updated Monthly)
Overview
Fund Facts
Fund description
Uses a "fund of funds" approach to invest 35% to 65% in underlying equity funds and 35% to 65% in underlying fixed income funds to achieve a balance of capital growth and current income. The Portfolio Managers are permitted to invest across all asset classes and strategies while attempting to maintain risk levels similar to the Fund's composite benchmark. Active monitoring and rebalancing serves to periodically adjust Portfolio allocation and holdings.
- Benchmark
- Russell 1000 Index
- Additional Benchmark
- Bloomberg U.S. Aggregate Index
- Additional Benchmark
- Composite Benchmark
- Fund Inception Date
- 02/05/1997
- Share Class Inception Date
- 02/05/1997
Identifiers
- Ticker
- QLMLFX
- Fund Number
- 7571
- CUSIP Code
- 52467W502
- Bloomberg Code
- QLMLFX US
Top Asset Allocation
As of 11/30/2025 % of Total (Updated Monthly)
US Large Cap Equity Funds44.87% | |
Fixed Income Funds41.67% | |
International/Global Equity Funds9.38% | |
US Small/Mid-Cap Equity Funds3.44% | |
Cash0.63% |
Additional Fund Info
- Asset Class
- Multi-Asset
- Morningstar Category
4 - Moderate Allocation
- Lipper Classification
- Mixed-Asset Target Allocation Moderate Funds
- Investment Style
- Asset 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.
Franklin Templeton Investment Solutions
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Managed Fund Since 2021
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Managed Fund Since 2025
Latest Insights
December 8, 2025
October 13, 2025
July 17, 2025
Portfolio
Assets
As of11/30/2025 (Updated Monthly)
- Total Net Assets
- $76.48 Million
Positions
As of 11/30/2025 (Updated Monthly)
Number of Holdings
- Fund
- 12
- Benchmark
- 1,010
Asset Allocation
As of 11/30/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
US Large Cap Equity Funds | 44.87% |
Fixed Income Funds | 41.67% |
International/Global Equity Funds | 9.38% |
US Small/Mid-Cap Equity Funds | 3.44% |
Cash | 0.63% |
Holdings
As of 11/30/2025 (Updated Monthly)
Franklin U.S. Core Bond ETF
Franklin US Large Cap Equity Fund
ClearBridge Large Cap Growth Fund
Franklin International Equity Fund
Putnam Large Cap Value Fund
Franklin U.S. Treasury Bond ETF
ClearBridge Appreciation Fund
Franklin Investment Grade Corporate ETF
ClearBridge Small Cap Growth Fund
Franklin US Small Cap Equity Fund
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
- AnnuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- 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
06/10/2025
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.
Documents
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Financial Statements and Other Information - Franklin Variable Asset Allocation Series | |||
| Annual Report - Franklin Multi-Asset Variable Conservative Growth Fund - Class I | |||
| Semi-Annual Report - Franklin Multi-Asset Variable Conservative Growth Fund - Class I | |||
| Semi-Annual Financial Statements and Other Information - Franklin Variable Asset Allocation Series | |||
| Prospectus - Franklin Variable Asset Allocation Series | |||
| Summary Prospectus - Franklin Multi-Asset Variable Conservative Growth Fund | |||
| Statement of Additional Information - Legg Mason Partners Variable Equity Trust Book 37 | |||
| Fiscal Q1 Holdings - Franklin Variable Asset Allocation Series | |||
| Fiscal Q3 Holdings - Franklin Variable Asset Allocation Series Q3 Portfolio Holdings |
Risks
All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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. Investments in underlying funds are subject to the same risks as, and indirectly bear the fees and expenses of, the underlying funds. Active and frequent trading may increase a shareholder’s tax liability and transaction costs. The portfolio is non-diversified and may invest in a relatively small number of issuers, which may negatively impact the fund's performance and result in greater fluctuation in the value of the fund's shares. Short selling is a speculative strategy. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short. The allocation of assets among different strategies, asset classes and investments may not prove beneficial or produce the desired results. 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
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 Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe.
Source: FTSE.
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.
The Composite Index is a hypothetical representation of the performance of the fund's major asset classes. It consists of 28% Russell 1000 Index, 12% Russell 2000 Index, 10% MSCI EAFE Index, 43% Bloomberg U.S. Aggregate Bond Index and 7% Bloomberg U.S. High Yield - 2% Issuer Cap Index.
The Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe. The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The MSCI EAFE Index is a free float-adjusted market-capitalization index designed to measure developed market equity performance, excluding the U.S. and Canada. The Bloomberg U.S. Aggregate Bond 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. The Bloomberg U.S. High Yield - 2% Issuer Cap is the 2% Issuer Cap component of the Bloomberg U.S. Corporate High Yield Index, which covers the universe of fixed-rate, non-investment-grade debt.
Source: FTSE. 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. 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.