PRICE AND YTD RETURN As of 04/29/2016

NAV down $-0.02 $10.79
POP $11.45
YTD Total return at Nav 0.45%

AVERAGE ANNUAL TOTAL RETURNS As of Quarter end 03/31/2016

Sales Charge

1 YEAR RETURN -10.01%
5 YEAR RETURN 2.10%
Since inception Inception: 08/01/2006 4.09%

KEY STATS

Investment Category Target Date
Distributions Monthly
CUSIP 354 72P 653
Fund Number 427
Inception Date Aug 01, 2006
Total Net Assets (all share classes) As of 03/31/2016 $73.3 (M)
Distribution Rate at NAV N/A
30-Day Standardized yield

SALES CHARGE, EXPENSES, & FEES As of 05/01/2015 (updated annually)

Gross Expense Ratio 1.47%
Net Expense Ratio 0.98%
Max Initial Sales Charge 5.75%
CDSC 0.00%
12b-1 Fee 0.30%

Fund Description

The fund seeks to make monthly distributions, while preserving the investors' capital over the long term. The fund has a strategic allocation of assets primarily among equity, fixed-income and alternative (non-traditional) underlying fund investments (largely Franklin Templeton funds) and an income generation strategy, which will include derivatives. The fund also employs a managed distribution policy that is designed to provide regular level monthly payments (in retirement plans that permit such cash distributions or if the fund is held outside of a qualified plan).

Strategy Statement

"Designed for investors in retirement that want a conservative multi-asset strategy."

T. Anthony Coffey, CFA®, MBA

Management

T. Anthony Coffey, CFA, MBA

T. Anthony Coffey, CFA®, MBA

  • Joined Franklin Templeton in 1989
  • Managed Fund Since 2006
Thomas Nelson, CFA

Thomas Nelson, CFA®

  • Joined Franklin Templeton in 2007
  • Managed Fund Since 2007
James D. Macey, CFA, MBA

James D. Macey, CFA®, MBA

  • Joined Franklin Templeton in 2015
  • Managed Fund Since 2015

Overall Morningstar Rating As of 03/31/2016

Rating Category: Target Date 2011-2015

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 03/31/2016

Years Ratings Funds
in category
3
1 Stars
120
5
1 Stars
91
10
Stars

Morningstar Style Box As of 12/31/2015

Strategy, Benefits, Results

Investing In The Fund

What Are the Risks?

All investments involve risks, including possible loss of principal. Since the fund invests in underlying funds, which may engage in a variety of investment strategies involving certain risks, the Franklin LifeSmart Retirement Income Fund is subject to those same risks. 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. Foreign investing carries additional risks such as currency and market volatility and political or social instability, risks which are heightened in developing countries. Investments in equity-linked notes (ELNs) often have risks similar to their underlying securities, which could include management, market, and, as applicable, foreign securities and currency risks. In addition, ELNs are subject to certain debt securities risks, such as interest rate and credit risks, as well as counterparty and liquidity risk. Investments in derivatives involve costs and can create economic leverage, which may result in significant volatility and cause the fund to participate in losses (as well as gains) that exceed the fund's initial investment.

These and other risks are described more fully in the fund's prospectus.

Minimum Investment

$1,000.00

How Financial Advisors Help You

Speak to your financial advisor about whether this fund is appropriate for you. If you don't have a financial advisor, request a referral.

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