Fund Description

The fund seeks both income and capital appreciation by investing in a diversified portfolio of global bonds and equities, and offers a dynamic, bottom-up allocation process. The fund normally invests at least 25% of its assets in fixed income securities and at least 25% of its assets in equity securities.

Strategy Statement

"This fund combines our global equity and fixed income expertise, applying the same investment processes and consistency to our research and security selection that investors have come to expect. "

Michael Hasenstab, Ph.D


Michael Hasenstab, Ph.D

Michael Hasenstab, Ph.D

  • Joined Franklin Templeton in 1995
  • Managed Fund Since 2005
Heather Arnold, CFA

Heather Arnold, CFA®

  • Joined Franklin Templeton in 1997
  • Managed Fund Since 2005
Norman Boersma, CFA

Norman Boersma, CFA®

  • Joined Franklin Templeton in 1991
  • Managed Fund Since 2011
James Harper, CFA

James Harper, CFA®

  • Joined Franklin Templeton in 2007
  • Managed Fund Since 2010
Christopher J. Molumphy, CFA

Christopher J. Molumphy, CFA®

  • Joined Franklin Templeton in 1988
  • Managed Fund Since 2005


Overall Morningstar Rating As of 02/28/2018

Rating Category: World Allocation

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 02/28/2018

Years Ratings Funds
in category
3 Stars
3 Stars
3 Stars

Morningstar Style Box As of12/31/2017

Strategy, Benefits, Results


  • Value-Oriented Stock Selection. We invest in stocks selling at prices we believe are low relative to their intrinsic value, which are generally a subset of Templeton’s approved list. And because of the fund’s additional focus on income, dividend yield is also an important criterion.
  • Global Bond Selection. On the fixed income side, we identify specific investment opportunities in a wide variety of countries based on our analysis of interest rates, exchange rates and yield spreads.
  • Dynamic Portfolio Allocation. The fund’s bottom-up, dynamic asset allocation process is a team effort. We determine the asset mix by comparing absolute and relative valuations across asset classes relative to underlying fundamentals and levels of market volatility. This process allows the team with the largest number of high conviction ideas to constitute the largest part of the fund.


  • Global Expertise. The fund combines the global expertise and research resources of the Templeton Global Equity Group and Templeton Global Macro.
  • Global Diversification. The fund included investments in many countries and currencies. Global portfolio diversification may help provide a hedge against U.S. interest rate cycles, economic conditions and other domestic risks.
  • Professional, Dynamic Asset Allocation. The fund’s asset allocation is determined by comparing valuations across asset classes relative to underlying fundamentals and levels of market volatility. Depending on valuations and other factors, the investment team has the flexibility to adjust the allocation as necessary.

Investing In The Fund

What Are the Risks?

  • All investments involve risks, including possible loss of principal.
  • Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments; investments in emerging markets involve heightened risks related to the same factors.
  • Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions.
  • Bond prices generally move in the opposite direction of interest rates. Thus, as the prices of bonds in the fund adjust to a rise in interest rates, the fund’s share price may decline.
  • The risks associated with higher-yielding, lower-rated debt securities include higher risk of default and loss of principal.
  • The markets for a particular security or instrument or type of security or instrument 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 or instruments when necessary to meet the fund’s liquidity needs or in response to a specific market event.
  • The fund’s investment in derivative securities, such as swaps, financial futures and option contracts, and use of foreign currency techniques involve special risks as such may not achieve the anticipated benefits and/or may result in losses to the fund.
  • The fund’s risk considerations are discussed in the prospectus.

Minimum Investment

See Prospectus

How Financial Advisors Help You

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