Fund Description

The fund seeks total investment return consisting of a combination of interest income, capital appreciation and currency gains. The fund primarily invests in fixed and floating-rate debt securities and debt obligations of governments, government-related or corporate issuers worldwide and regularly enters into various currency-related and other transactions involving derivative instruments.

Strategy Statement

"The fund has a flexible strategy, investing in a broad opportunity set across geographic, sector, currency and credit opportunities to maximize income and total return potential for our shareholders."

Michael Hasenstab, Ph.D

Management

Michael Hasenstab, Ph.D

Michael Hasenstab, Ph.D

  • Joined Franklin Templeton in 1995
  • Managed Fund Since 2008
Sonal Desai, Ph.D

Sonal Desai, Ph.D

  • Joined Franklin Templeton in 2009
  • Managed Fund Since 2011

Rating

Overall Morningstar Rating As of 06/30/2018

Rating Category: World Bond

Morningstar
The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating As of 06/30/2018

Years Ratings Funds
in category
3
2 Stars
258
5
3 Stars
240
10
Stars

Morningstar Style Box

We do not publish a style box for this fund.

Strategy, Benefits, Results

Strategy

  • We seek to generate total return through investment opportunities in currency, interest rate and credit markets.
  • Our multi-sector global bond fund is designed to capitalize on fixed income opportunities around the world.
  • We invest in fixed- and floating-rate bonds of corporations, governments and government-related issuers worldwide.
  • Our assets are allocated based on the manager's assessment of value across countries and sectors given changing market, political and economic conditions, as well as an in-depth evaluation of interest rates, exchange rates and credit risks.
  • Our portfolio management team taps the expertise of the 100-plus investment professionals that comprise the Franklin Templeton Fixed Income Group®.

Benefits

  • Flexible Mandate Expands Opportunity. We can invest in any country, currency or fixed income sector to take advantage of income and capital appreciation opportunities as they arise.
  • Global Expertise. In addition to the experts in our international bond department, we also leverage the broad expertise of the entire Franklin Templeton Fixed Income Group® and its global specialist teams covering every major sector of the fixed-income market.

Investing In The Fund

What Are the Risks?

  • All investments involve risks, including possible loss of principal.
  • Derivatives, including currency management strategies, involve costs and can create economic leverage in the portfolio which may result in significant volatility and cause the fund to participate in losses on an amount that exceeds the fund’s initial investment. The fund may not achieve the anticipated benefits, and may realize losses when a counterparty fails to perform as promised.
  • The markets for particular securities or types of securities are or may become relatively illiquid. Reduced liquidity will have an adverse impact on the security’s value and on the fund’s ability to sell such securities when necessary to meet the fund’s liquidity needs or in response to a specific market event.
  • Foreign securities involve special risks, including currency fluctuations (which may be significant over the short term) and economic and political uncertainties; investments in emerging markets involve heightened risks related to the same factors.
  • Sovereign debt securities are subject to various risks in addition to those relating to debt securities and foreign securities generally, including, but not limited to, the risk that a government entity may be unwilling or unable to pay interest and repay principal on its sovereign debt, or otherwise meet its obligations when due.
  • Investments in lower-rated bonds include higher risk of default and loss of principal.
  • Bond prices generally move in the opposite direction of interest rates. As the prices of bonds in the fund adjust to a rise in interest rates, the fund’s share price may decline.
  • Changes in the financial strength of a bond issuer or in a bond’s credit rating may affect its value.
  • These and other risks are discussed in the fund’s prospectus.

Minimum Investment

$1,000.00

How Financial Advisors Help You

Speak to your advisor about whether this fund is appropriate for you.

Learn more from FINRA about How to Find and Work with an Investment Professional.

You need Adobe Acrobat Reader 6.0 or higher to view and print PDF documents. Download a free version from Adobe's website.