F.NextStep Cons.Fd.A USD/  LU1350352891  /

Franklin NextStep Conservative Fund (the "Fund") aims to seek the highest level of total investment return by achieving an increase in the value of its investments and earning income over the long term. The Fund pursues an actively managed investment strategy and invests mainly in units of mutual funds providing exposure to equity securities and debt securities of any quality (including lower quality securities such as unrated or non-investment grade securities) issued by governments and corporations of any size and from any country, including emerging markets. 30% to equities and equity-related securities and 70% to 90% to debt securities, these assets allocation may change from time to time based on market conditions and the investment manager's strategic and tactical asset allocation views. The Fund may, indirectly (through units of mutual funds), also have limited exposure to securities in default, convertible securities and securities of companies that are, or are about to be, involved in reorganisations, financial restructurings, or bankruptcy. The Fund may distribute income gross of expenses. Whilst this might allow more income to be distributed, it may also have the effect of reducing capital.

Franklin NextStep Conservative Fund (the "Fund") aims to seek the highest level of total investment return by achieving an increase in the value of its investments and earning income over the long term. The Fund pursues an actively managed investment strategy and invests mainly in units of mutual funds providing exposure to equity securities and debt securities of any quality (including lower quality securities such as unrated or non-investment grade securities) issued by governments and corporations of any size and from any country, including emerging markets.