Franklin Templeton SMACS: C (FA 529 COLLEGE PORT-CL B) Fonds

Under normal market conditions, the fund will invest predominantly in debt securities, which may be represented by derivative investments that provide exposure to debt securities such as futures and swap agreements. The fund manager seeks income by selecting investments such as corporate, agency, securitized, and sovereign bonds that the investment manager believes have potential to provide consistent income. The fund is non-diversified.