Fund Commentary | Franklin Templeton

Product Commentary - BrandywineGLOBAL - Corporate Credit Fund
 PDF Format 
Product Commentary - BrandywineGLOBAL - Corporate Credit Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - BrandywineGLOBAL - Flexible Bond Fund
 PDF Format 
Product Commentary - BrandywineGLOBAL - Flexible Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - BrandywineGLOBAL - Global Income Opportunities Fund Inc.
 PDF Format 
Product Commentary - BrandywineGLOBAL - Global Income Opportunities Fund Inc.
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - BrandywineGLOBAL - Global Opportunities Bond Fund
 PDF Format 
Product Commentary - BrandywineGLOBAL - Global Opportunities Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - BrandywineGLOBAL - High Yield Fund
 PDF Format 
Product Commentary - BrandywineGLOBAL - High Yield Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Clarion Partners Real Estate Income Fund
 PDF Format 
Product Commentary - Clarion Partners Real Estate Income Fund
 Market commentary about the recent quarter - includes portfolio highlights of acquisitions. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge All Cap Growth Portfolios
 PDF Format 
Product Commentary - ClearBridge All Cap Growth Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Appreciation ESG Portfolios
 PDF Format 
Product Commentary - ClearBridge Appreciation ESG Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Appreciation Fund
 PDF Format 
Product Commentary - ClearBridge Appreciation Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Appreciation Portfolios
 PDF Format 
Product Commentary - ClearBridge Appreciation Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Dividend Strategy ESG Portfolios
 PDF Format 
Product Commentary - ClearBridge Dividend Strategy ESG Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Dividend Strategy Fund
 PDF Format 
Product Commentary - ClearBridge Dividend Strategy Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Dividend Strategy Portfolios
 PDF Format 
Product Commentary - ClearBridge Dividend Strategy Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Emerging Markets Fund
 PDF Format 
Product Commentary - ClearBridge Emerging Markets Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Emerging Markets Portfolios
 PDF Format 
Product Commentary - ClearBridge Emerging Markets Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Global Infrastructure Income Fund
 PDF Format 
Product Commentary - ClearBridge Global Infrastructure Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Growth ESG Portfolios
 PDF Format 
Product Commentary - ClearBridge Growth ESG Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Growth Fund
 PDF Format 
Product Commentary - ClearBridge Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Growth Portfolios
 PDF Format 
Product Commentary - ClearBridge Growth Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge International Growth ADR ESG Portfolios
 PDF Format 
Product Commentary - ClearBridge International Growth ADR ESG Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge International Growth ADR Portfolios
 PDF Format 
Product Commentary - ClearBridge International Growth ADR Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge International Growth Fund
 PDF Format 
Product Commentary - ClearBridge International Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge International Value ADR Portfolios
 PDF Format 
Product Commentary - ClearBridge International Value ADR Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge International Value Fund
 PDF Format 
Product Commentary - ClearBridge International Value Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Large Cap Growth ESG Portfolios
 PDF Format 
Product Commentary - ClearBridge Large Cap Growth ESG Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Large Cap Growth Fund
 PDF Format 
Product Commentary - ClearBridge Large Cap Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Large Cap Growth Portfolios
 PDF Format 
Product Commentary - ClearBridge Large Cap Growth Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Large Cap Value ESG Portfolios
 PDF Format 
Product Commentary - ClearBridge Large Cap Value ESG Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Large Cap Value Fund
 PDF Format 
Product Commentary - ClearBridge Large Cap Value Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Large Cap Value Portfolios
 PDF Format 
Product Commentary - ClearBridge Large Cap Value Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Mid Cap Fund
 PDF Format 
Product Commentary - ClearBridge Mid Cap Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Mid Cap Growth Portfolios
 PDF Format 
Product Commentary - ClearBridge Mid Cap Growth Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Mid Cap Portfolios
 PDF Format 
Product Commentary - ClearBridge Mid Cap Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Select Fund
 PDF Format 
Product Commentary - ClearBridge Select Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Small Cap Fund
 PDF Format 
Product Commentary - ClearBridge Small Cap Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Small Cap Growth Fund
 PDF Format 
Product Commentary - ClearBridge Small Cap Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Small Cap Growth Portfolios
 PDF Format 
Product Commentary - ClearBridge Small Cap Growth Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Sustainability Leaders Fund
 PDF Format 
Product Commentary - ClearBridge Sustainability Leaders Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Value Fund
 PDF Format 
Product Commentary - ClearBridge Value Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - ClearBridge Value Portfolios
 PDF Format 
Product Commentary - ClearBridge Value Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Biotechnology Discovery Fund
 PDF Format 
Product Commentary - Franklin Biotechnology Discovery Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin California High Yield Municipal Fund
 PDF Format 
Product Commentary - Franklin California High Yield Municipal Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin California Intermediate-Term Tax-Free Income Fund
 PDF Format 
Product Commentary - Franklin California Intermediate-Term Tax-Free Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin California Tax-Free Income Fund
 PDF Format 
Product Commentary - Franklin California Tax-Free Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin ClearBridge Enhanced Income ETF
 PDF Format 
Product Commentary - Franklin ClearBridge Enhanced Income ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Convertible Securities Fund
 PDF Format 
Product Commentary - Franklin Convertible Securities Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Core Plus Bond Fund
 PDF Format 
Product Commentary - Franklin Core Plus Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Corporate Ladder 1-10 Year SMA
 PDF Format 
Product Commentary - Franklin Corporate Ladder 1-10 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Corporate Ladder 1-3 Year SMA
 PDF Format 
Product Commentary - Franklin Corporate Ladder 1-3 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Corporate Ladder 1-5 Year SMA
 PDF Format 
Product Commentary - Franklin Corporate Ladder 1-5 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Dynamic Municipal Bond ETF
 PDF Format 
Product Commentary - Franklin Dynamic Municipal Bond ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin DynaTech Fund
 PDF Format 
Product Commentary - Franklin DynaTech Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin DynaTech SMA
 PDF Format 
Product Commentary - Franklin DynaTech SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Equity Income Fund
 PDF Format 
Product Commentary - Franklin Equity Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Equity Income SMA
 PDF Format 
Product Commentary - Franklin Equity Income SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Federal Intermediate-Term Tax-Free Income Fund
 PDF Format 
Product Commentary - Franklin Federal Intermediate-Term Tax-Free Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Federal Tax-Free Income Fund
 PDF Format 
Product Commentary - Franklin Federal Tax-Free Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Floating Rate Daily Access Fund
 PDF Format 
Product Commentary - Franklin Floating Rate Daily Access Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Focused Growth ETF
 PDF Format 
Product Commentary - Franklin Focused Growth ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Global Allocation Fund
 PDF Format 
Product Commentary - Franklin Global Allocation Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Global Equity Fund
 PDF Format 
Product Commentary - Franklin Global Equity Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Gold And Precious Metals Fund
 PDF Format 
Product Commentary - Franklin Gold And Precious Metals Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Growth Allocation Fund
 PDF Format 
Product Commentary - Franklin Growth Allocation Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Growth Fund
 PDF Format 
Product Commentary - Franklin Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Growth Opportunities Fund
 PDF Format 
Product Commentary - Franklin Growth Opportunities Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Growth Opportunities SMA
 PDF Format 
Product Commentary - Franklin Growth Opportunities SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin High Income Fund
 PDF Format 
Product Commentary - Franklin High Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin High Yield Corporate ETF
 PDF Format 
Product Commentary - Franklin High Yield Corporate ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin High Yield Municipal SMA
 PDF Format 
Product Commentary - Franklin High Yield Municipal SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin High Yield Tax-Free Income Fund
 PDF Format 
Product Commentary - Franklin High Yield Tax-Free Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Income Focus ETF
 PDF Format 
Product Commentary - Franklin Income Focus ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Income Fund
 PDF Format 
Product Commentary - Franklin Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Income SMA
 PDF Format 
Product Commentary - Franklin Income SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Intermediate Fixed Income SMA
 PDF Format 
Product Commentary - Franklin Intermediate Fixed Income SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Intermediate Government Bond SMA
 PDF Format 
Product Commentary - Franklin Intermediate Government Bond SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Intermediate High Yield Municipal SMA
 PDF Format 
Product Commentary - Franklin Intermediate High Yield Municipal SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Intermediate Investment Grade Credit SMA
 PDF Format 
Product Commentary - Franklin Intermediate Investment Grade Credit SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Intermediate Municipal SMA
 PDF Format 
Product Commentary - Franklin Intermediate Municipal SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin International Aggregate Bond ETF
 PDF Format 
Product Commentary - Franklin International Aggregate Bond ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin International Growth Equity ADR SMA
 PDF Format 
Product Commentary - Franklin International Growth Equity ADR SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin International Growth Fund
 PDF Format 
Product Commentary - Franklin International Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Investment Grade Corporate ETF
 PDF Format 
Product Commentary - Franklin Investment Grade Corporate ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Investment Grade Corporate ETF
 PDF Format 
Product Commentary - Franklin Investment Grade Corporate ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin LifeSmart Retirement Funds
 PDF Format 
Product Commentary - Franklin LifeSmart Retirement Funds
 Product Commentary - Franklin LifeSmart Retirement Funds 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Limited Maturity Municipal SMA
 PDF Format 
Product Commentary - Franklin Limited Maturity Municipal SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Long Maturity Municipal SMA
 PDF Format 
Product Commentary - Franklin Long Maturity Municipal SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Low Duration Total Return Fund
 PDF Format 
Product Commentary - Franklin Low Duration Total Return Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Managed Income Fund
 PDF Format 
Product Commentary - Franklin Managed Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Moderate Allocation Fund
 PDF Format 
Product Commentary - Franklin Moderate Allocation Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Municipal Enhanced Income SMA
 PDF Format 
Product Commentary - Franklin Municipal Enhanced Income SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Municipal Green Bond SMA
 PDF Format 
Product Commentary - Franklin Municipal Green Bond SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Municipal Ladder 1-15 Year SMA
 PDF Format 
Product Commentary - Franklin Municipal Ladder 1-15 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Municipal Ladder 1-3 Year SMA
 PDF Format 
Product Commentary - Franklin Municipal Ladder 1-3 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Municipal Ladder 1-7 Year SMA
 PDF Format 
Product Commentary - Franklin Municipal Ladder 1-7 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Municipal Ladder 5-20 Year SMA
 PDF Format 
Product Commentary - Franklin Municipal Ladder 5-20 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Mutual Beacon Fund
 PDF Format 
Product Commentary - Franklin Mutual Beacon Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Mutual Global Discovery Fund
 PDF Format 
Product Commentary - Franklin Mutual Global Discovery Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Mutual International Value Fund
 PDF Format 
Product Commentary - Franklin Mutual International Value Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Mutual Quest Fund
 PDF Format 
Product Commentary - Franklin Mutual Quest Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Mutual Shares Fund
 PDF Format 
Product Commentary - Franklin Mutual Shares Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Natural Resources Fund
 PDF Format 
Product Commentary - Franklin Natural Resources Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin New York Intermediate-Term Tax-Free Income Fund
 PDF Format 
Product Commentary - Franklin New York Intermediate-Term Tax-Free Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin New York Tax-Free Income Fund
 PDF Format 
Product Commentary - Franklin New York Tax-Free Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Rising Dividends Fund
 PDF Format 
Product Commentary - Franklin Rising Dividends Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Rising Dividends SMA
 PDF Format 
Product Commentary - Franklin Rising Dividends SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Senior Loan ETF
 PDF Format 
Product Commentary - Franklin Senior Loan ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Small Cap Growth Fund
 PDF Format 
Product Commentary - Franklin Small Cap Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Small Cap Growth SMA
 PDF Format 
Product Commentary - Franklin Small Cap Growth SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Small Cap Value Fund
 PDF Format 
Product Commentary - Franklin Small Cap Value Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Small-Mid Cap Growth Fund
 PDF Format 
Product Commentary - Franklin Small-Mid Cap Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Sustainable International Equity ETF
 PDF Format 
Product Commentary - Franklin Sustainable International Equity ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Systematic Style Premia ETF
 PDF Format 
Product Commentary - Franklin Systematic Style Premia ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Templeton Alternative Completion Portfolios
 PDF Format 
Product Commentary - Franklin Templeton Alternative Completion Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Templeton Strategic Real Return Portfolios
 PDF Format 
Product Commentary - Franklin Templeton Strategic Real Return Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Total Return Fund
 PDF Format 
Product Commentary - Franklin Total Return Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Core Bond ETF
 PDF Format 
Product Commentary - Franklin U.S. Core Bond ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Focused Growth SMA
 PDF Format 
Product Commentary - Franklin U.S. Focused Growth SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Government Ladder 1-10 Year SMA
 PDF Format 
Product Commentary - Franklin U.S. Government Ladder 1-10 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Government Ladder 1-5 Year SMA
 PDF Format 
Product Commentary - Franklin U.S. Government Ladder 1-5 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Government Ladder 5-20 Year SMA
 PDF Format 
Product Commentary - Franklin U.S. Government Ladder 5-20 Year SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Government Securities Fund
 PDF Format 
Product Commentary - Franklin U.S. Government Securities Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Mid Cap Multifactor Index ETF
 PDF Format 
Product Commentary - Franklin U.S. Mid Cap Multifactor Index ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin U.S. Treasury Bond ETF
 PDF Format 
Product Commentary - Franklin U.S. Treasury Bond ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Ultra Short Bond ETF
 PDF Format 
Product Commentary - Franklin Ultra Short Bond ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Franklin Utilities Fund
 PDF Format 
Product Commentary - Franklin Utilities Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - International Equity Series
 PDF Format 
Product Commentary - International Equity Series
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - K2 Alternative Strategies Fund
 PDF Format 
Product Commentary - K2 Alternative Strategies Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - LMP Capital and Income Fund Inc.
 PDF Format 
Product Commentary - LMP Capital and Income Fund Inc.
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Core Bond Fund
 PDF Format 
Product Commentary - Putnam Core Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Core Equity Fund
 PDF Format 
Product Commentary - Putnam Core Equity Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Dynamic Asset Allocation Balanced Fund
 PDF Format 
Product Commentary - Putnam Dynamic Asset Allocation Balanced Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Dynamic Asset Allocation Conservative Fund
 PDF Format 
Product Commentary - Putnam Dynamic Asset Allocation Conservative Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Dynamic Asset Allocation Growth Fund
 PDF Format 
Product Commentary - Putnam Dynamic Asset Allocation Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Focused Large Cap Growth ETF
 PDF Format 
Product Commentary - Putnam Focused Large Cap Growth ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Focused Large Cap Value ETF
 PDF Format 
Product Commentary - Putnam Focused Large Cap Value ETF
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam International Value Fund
 PDF Format 
Product Commentary - Putnam International Value Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Large Cap Growth Fund
 PDF Format 
Product Commentary - Putnam Large Cap Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Large Cap Value Fund
 PDF Format 
Product Commentary - Putnam Large Cap Value Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Short Duration Bond Fund
 PDF Format 
Product Commentary - Putnam Short Duration Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Short-Term Municipal Income Fund
 PDF Format 
Product Commentary - Putnam Short-Term Municipal Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Small Cap Growth Fund
 PDF Format 
Product Commentary - Putnam Small Cap Growth Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Strategic Intermediate Municipal Fund
 PDF Format 
Product Commentary - Putnam Strategic Intermediate Municipal Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam U.S. Core Equity Concentrated SMA
 PDF Format 
Product Commentary - Putnam U.S. Core Equity Concentrated SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam U.S. Large Cap Growth Equity Concentrated SMA
 PDF Format 
Product Commentary - Putnam U.S. Large Cap Growth Equity Concentrated SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam U.S. Large Cap Value Equity Concentrated SMA
 PDF Format 
Product Commentary - Putnam U.S. Large Cap Value Equity Concentrated SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam U.S. Small Cap Value Equity SMA
 PDF Format 
Product Commentary - Putnam U.S. Small Cap Value Equity SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Putnam Ultra Short Duration Income Fund
 PDF Format 
Product Commentary - Putnam Ultra Short Duration Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Royce Small-Cap Fund
 PDF Format 
Product Commentary - Royce Small-Cap Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Developing Markets Trust
 PDF Format 
Product Commentary - Templeton Developing Markets Trust
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Dragon Fund Inc.
 PDF Format 
Product Commentary - Templeton Dragon Fund Inc.
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Emerging Markets Income Fund
 PDF Format 
Product Commentary - Templeton Emerging Markets Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Foreign Fund
 PDF Format 
Product Commentary - Templeton Foreign Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Global ADR Equity SMA
 PDF Format 
Product Commentary - Templeton Global ADR Equity SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Global Bond Enhanced Fund
 PDF Format 
Product Commentary - Templeton Global Bond Enhanced Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Global Bond Fund
 PDF Format 
Product Commentary - Templeton Global Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Growth Fund Inc.
 PDF Format 
Product Commentary - Templeton Growth Fund Inc.
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton International ADR Equity SMA
 PDF Format 
Product Commentary - Templeton International ADR Equity SMA
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Templeton Sustainable Emerging Markets Bond Fund
 PDF Format 
Product Commentary - Templeton Sustainable Emerging Markets Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Active Bond Gov/Corp Portfolios
 PDF Format 
Product Commentary - Western Asset Active Bond Gov/Corp Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Active Bond Intermediate Portfolios
 PDF Format 
Product Commentary - Western Asset Active Bond Intermediate Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Core Bond Fund
 PDF Format 
Product Commentary - Western Asset Core Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Core Plus Bond Fund
 PDF Format 
Product Commentary - Western Asset Core Plus Bond Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Core Plus Portfolios
 PDF Format 
Product Commentary - Western Asset Core Plus Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Core Portfolios
 PDF Format 
Product Commentary - Western Asset Core Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Current Market Muni Portfolios
 PDF Format 
Product Commentary - Western Asset Current Market Muni Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Diversified Income Fund
 PDF Format 
Product Commentary - Western Asset Diversified Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Gov/Corp Portfolios
 PDF Format 
Product Commentary - Western Asset Gov/Corp Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset GSM 3-Year Portfolios
 PDF Format 
Product Commentary - Western Asset GSM 3-Year Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset GSM 5-Year Portfolios
 PDF Format 
Product Commentary - Western Asset GSM 5-Year Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset GSM 7-Year Portfolios
 PDF Format 
Product Commentary - Western Asset GSM 7-Year Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Inflation-Linked Income Fund
 PDF Format 
Product Commentary - Western Asset Inflation-Linked Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Inflation-Linked Opportunities & Income Fund
 PDF Format 
Product Commentary - Western Asset Inflation-Linked Opportunities & Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Intermediate-Term Municipals Fund
 PDF Format 
Product Commentary - Western Asset Intermediate-Term Municipals Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Managed Municipals Fund
 PDF Format 
Product Commentary - Western Asset Managed Municipals Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Managed Municipals Portfolios
 PDF Format 
Product Commentary - Western Asset Managed Municipals Portfolios
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Municipal Bond Ladders (1-15 Years)
 PDF Format 
Product Commentary - Western Asset Municipal Bond Ladders (1-15 Years)
 Product Commentary - Western Asset Municipal Bond Ladders 1-15 Years Portfolios 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Municipal Bond Ladders 1-30 Years Portfolios
 PDF Format 
Product Commentary - Western Asset Municipal Bond Ladders 1-30 Years Portfolios
 Product Commentary - Western Asset Municipal Bond Ladders 1-30 Years Portfolios 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Short Duration High Income Fund
 PDF Format 
Product Commentary - Western Asset Short Duration High Income Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary - Western Asset Total Return Unconstrained Fund
 PDF Format 
Product Commentary - Western Asset Total Return Unconstrained Fund
 Analysis of factors that may impact a specific product; includes narrative content, attribution and performance data. 
 Audience 
Public
 As of Date: 
 09/30/2025 
Product Commentary-Franklin Mutual Global Discovery Semiannual
 PDF Format 
Product Commentary-Franklin Mutual Global Discovery Semiannual A semiannual commentary for the Mutual Global Discovery Fund 
 Audience 
Public
 As of Date: 
 06/30/2025 
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Product Commentary-Franklin Mutual International Value Fund Semiannual
 PDF Format 
Product Commentary-Franklin Mutual International Value Fund Semiannual
 A semiannual commentary for Franklin Mutual International Value 
 Audience 
Public
 As of Date: 
 06/30/2025 
Western Asset Municipal Bond Ladders
(1-15 Years)
 PDF Format 
Western Asset Municipal Bond Ladders
(1-15 Years)
 Commentary 
 Audience 
Public
 As of Date: 
 09/30/2025 
 Mailed hardcopies unavailable. 