Franklin Templeton Variable Insurance Products Trust
09/05/2024 | Press release | Distributed by Public on 09/05/2024 08:09
Summary Prospectus by Investment Company - Form 497K
GOF P12 09/24
FRANKLIN STRATEGIC SERIES
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
SUPPLEMENT DATED SEPTEMBER 5, 2024
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI')
OF EACH FUND LISTED IN SCHEDULE A
Effective September 30, 2024, the following changes are made to the Summary Prospectus, Prospectus and SAI of Franklin Growth Opportunities Fund and Franklin Large Cap Growth VIP Fund:
1)The following is added to the section titled "Fund Summaries - Portfolio Managers" in each fund's Summary Prospectus and Prospectus:
Anthony Hardy, CFA
Vice President and Portfolio Manager of Advisers and portfolio manager of the Fund since September 2024.
2)The following is added to the section titled "Fund Details - Management" in each fund's Prospectus:
Anthony Hardy, CFA Vice President and Portfolio Managerof Advisers
Mr. Hardy has been a portfolio manager of the Fund since September 2024. He joined Franklin Templeton in 2015.
3)The following is added to the table in the section titled "Management and Other Services - Portfolio managers"in each fund's SAI:
|
Name |
Type of |
Number of Accounts Managed |
Total Assets Managed (x $1 million) |
Number of Accounts Managed for which Advisory Fee is Performance-Based |
Assets Managed for which Advisory Fee is Performance-Based (x $1 million) |
|
Anthony Hardy* |
Registered Investment Companies |
None |
None |
None |
None |
|
Other Pooled Investment Vehicles |
15 |
485.2 |
None |
None |
|
|
Other Accounts |
None |
None |
None |
None |
*Information is provided as of July 31, 2024.
4)The following is added to the SAI of Franklin Growth Opportunities Fund in the section titled "Management and Other Services - Portfolio managers - Ownership of Fund shares":
|
Portfolio Manager |
Dollar Range of Fund Shares Beneficially Owned |
|
Anthony Hardy* |
$100,001 - $500,000 |
|
*Information is provided as of July 31, 2024 |
5)The following is added to the SAI of Franklin Large Cap Growth VIP Fund in the section titled "Management and Other Services - Portfolio managers - Ownership of Fund shares":
As of July 31, 2024, Anthony Hardy did not own any shares of the Fund.
SCHEDULE A
|
Fund |
Date of Summary Prospectus, Prospectus and SAI |
|
|
FRANKLIN STRATEGIC SERIES |
||
|
Franklin Growth Opportunities Fund..…… |
September 1, 2024 |
|
|
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST |
||
|
Franklin Large Cap Growth VIP Fund…… |
May 1, 2024 |
Please retain this supplement for future reference.