Franklin Flex Cap Growth Fund is one of four underlying mutual funds in which the Franklin Corefolio 529 Portfolio invests. On or about August 26, 2016, and subject to approval by the required percentage of its shareholders, the Franklin Flex Cap Growth Fund is expected to combine with and into the Franklin Growth Opportunities Fund, with Franklin Growth Opportunities Fund the surviving mutual fund, at which time Franklin Growth Opportunities Fund will replace Franklin Flex Cap Growth Fund as a fixed investment allocation for the Franklin Corefolio 529 Portfolio. On or about August 19, 2016, any new Franklin Corefolio 529 Portfolio investments otherwise intended for the Franklin Flex Cap Growth Fund may instead be allocated to the Franklin Growth Opportunities Fund. If you have any questions, please contact Shareholder Services.
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