Franklin ETF Trust
09/26/2024 | Press release | Distributed by Public on 09/26/2024 07:29
Summary Prospectus by Investment Company - Form 497K
GOF P15 09/24
FRANKLIN CUSTODIAN FUNDS
FRANKLIN ETF TRUST
FRANKLIN INVESTORS SECURITIES TRUST
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
SUPPLEMENT DATED SEPTEMBER 26, 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 each fund listed in Schedule A:
1.The following is added to the section titled "Fund Summary - Portfolio Managers" in each fund's Summary Prospectus and Prospectus:
Jatin Misra
Portfolio Manager of Advisers and portfolio manager of the Fund since September 2024.
Michael V. Salm
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:
Jatin Misra Portfolio Managerof Advisers
Dr. Misra has been a portfolio manager of the Fund since September 2024. He joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Dr. Misra was a portfolio manager for Putnam Investment Management, LLC.
Michael V. Salm Portfolio Managerof Advisers
Mr. Salm has been a portfolio manager of the Fund since September 2024. He joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Mr. Salm was a portfolio manager for Putnam Investment Management, LLC.
3.The following replaces the fifth paragraph in the section titled "Fund Details - Management" in the Prospectus of Franklin U.S. Government Securities Fundand Franklin U.S. Government Securities VIP Fund:
The portfolio managers of the Fund are jointly and primarily responsible for the day-to-day management of the Fund's portfolio. They have equal authority over all aspects of the Fund's investment portfolio, including, but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which each portfolio manager may perform these functions, and the nature of these functions, may change from time to time.
4.The following is added to 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) |
|
Jatin Misra* |
Registered Investment Companies |
4 |
1,109.2 |
None |
None |
|
Other Pooled Investment Vehicles |
7 |
801.6 |
None |
None |
|
|
Other Accounts |
5 |
784.4 |
None |
None |
|
|
Michael V. Salm* |
Registered Investment Companies |
21 |
15,453.5 |
1 |
599.3 |
|
Other Pooled Investment Vehicles |
26 |
9,532.4 |
None |
None |
|
|
Other Accounts |
8 |
1,484 |
1 |
440.5 |
|
*Information is provided as of August 31, 2024.
5.The following is added to the section titled "Management and Other Services - Portfolio managers - Ownership of Fund shares" in each fund's SAI:
As of August 31, 2024, Jatin Misra and Michael V. Salm did not own any shares of the Fund.
SCHEDULE A
|
Fund |
Date of Summary Prospectus, Prospectus and SAI |
|
FRANKLIN CUSTODIAN FUNDS |
|
|
Franklin U.S. Government Securities Fund |
February 1, 2024 |
|
FRANKLIN ETF TRUST |
|
|
Franklin Short Duration U.S. Government ETF |
August 1, 2024 |
|
FRANKLIN INVESTORS SECURITIES TRUST |
|
|
Franklin Low Duration U.S. Government Securities Fund |
March 1, 2024 |
|
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST |
|
|
Franklin U.S. Government Securities VIP Fund |
May 1, 2024 |
Please retain this supplement for future reference.