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FRANKLIN US ULTRA SHORT BOND FUND

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					                                                                         FRANKLIN U.S. LOW DURATION
                                                                                   FUND1
                                                             A SUB-FUND OF LUXEMBOURG-DOMICILED SICAV                                                               30 September 2011

FUND MANAGER AND LOCATION                                    INVESTMENT OBJECTIVE
Roger Bayston, California, United States                     The Fund’s investment objective is to provide as high a level of current income as is consistent with prudent investing, while
(since 29 Aug 2003)                                          seeking preservation of shareholders’ capital.
Paul Varunok, California, United States
(since 29 Aug 2003)                                          3 YEAR PERFORMANCE (US DOLLAR)3, 4
FUND INFORMATION
Base Currency of Fund: US dollar
Fund Size: $402,76 million
Date of Fund Launch: 29 August 2003
Fund Index: Barclays Capital US Treasury (1-3 Y) Index
Morningstar™ Workstation Category: USD Diversified Bond -
Short

NET ASSET VALUE AS OF 30 SEPTEMBER 2011
A(acc)USD         $9.96
A(Mdis)USD        $9.48
I(acc)USD         $11.80

CHARGES AND IDENTIFIERS
Share Class       Maximum Initial    Annual Management &
                  Sales Charge       Administration Charge
A Shares          5,25%              0,95%
I Shares          -                  0,40%
Share Class       Valoren            ISIN
A(acc)USD         11896920           LU0551246555            CUMULATIVE PERFORMANCE % (SHARECLASS CURRENCY, DIVIDENDS RE-INVESTED)
A(Mdis)USD        1628078            LU0170467566
                                                                                                                                                                      SINCE           3-YR
I(acc)USD         1923059            LU0195953400                                  YTD       1-MO       3-MO      6-MO        1-YR       3-YR        5-YR     10-YR LAUNCH            VOL.
TOTAL EXPENSE RATIO AS OF SEPTEMBER 2011                     A(acc)USD            -0,50      -0,90     -0,80      -0,70           -          -          -          -     -0,40            -
A(acc)USD         1,15                                       A(Mdis)USD           -0,42      -0,92     -0,83      -0,71       -0,41      3,39        8,30          -     16,49        1,41
A(Mdis)USD        1,15
                                                             I(acc)USD            0,00       -0,84     -0,67      -0,42       0,09       4,80       10,59          -     18,00        1,41
I(acc)USD         0,68
                                                             Index                1,36      -0,14       0,50       1,34       1,20       7,51       20,85     38,76      29,05        1,30
EUSD STATUS
Redemption: In Scope                                         DISCRETE CALENDAR YEAR PERFORMANCE % (DIVIDENDS RE-INVESTED)
Distribution: In Scope
                                                                                                     2006                 2007              2008                2009                 2010
RATINGS2                                                     A(Mdis)USD                               3,63                 3,80             -2,18                4,51                 1,43
Morningstar™ Overall Rating:   ★★★                           I(acc)USD                                4,25                 4,26             -1,96                4,98                 1,81

                                                             PORTFOLIO COMPOSITION (% OF TOTAL)
                                                             EQUITY                                    FIXED INCOME                              CASH/CASH EQUIVALENTS
                                                             -                                         75,31%                                    24,69%

                                                             FUND CHARACTERISTICS5
                                                             STATISTIC
                                                             Average Duration                                                                                                    1,53 Years
                                                             Redemption Yield                                                                                                       2,20%
                                                             Average Weighted Maturity                                                                                           1,76 Years
                                                             Number of issues                                                                                                          255




Franklin Templeton Switzerland Ltd
Bahnhofstrasse 22, P.O. Box, 8022 Zurich
Phone: +41 (0) 44 217 81 81
E-mail: info@franklintempleton.ch
Web: www.franklintempleton.ch
FRANKLIN U.S. LOW DURATION FUND                                                                                                                                                   30 September 2011



TOP 10 HOLDINGS (30 SEPTEMBER 2011)6
SECURITY NAME                                                                                                                                                                                            %
U.S. Treasury Note, 4.00%, 2/15/14                                                                                                                                                                    4,06
U.S. Treasury Note, 1.75%, 1/31/14                                                                                                                                                                    3,34
U.S. Treasury Note, 4.25%, 11/15/14                                                                                                                                                                   2,81
U.S. Treasury Note, 2.75%, 10/31/13                                                                                                                                                                   2,64
U.S. Treasury Note, 1.875%, 4/30/14                                                                                                                                                                   2,60
U.S. Treasury Note, 3.50%, 5/31/13                                                                                                                                                                    2,38
Korea Treasury Bond, senior bond, 3.00%, 12/10/13                                                                                                                                                     1,95
U.S. Treasury Note, Index Linked, 1.875%, 7/15/13                                                                                                                                                     1,93
U.S. Treasury Note, 2.00%, 11/30/13                                                                                                                                                                   1,81
Government of Sweden, 1.50%, 8/30/13                                                                                                                                                                  1,59



COUNTRY BREAKDOWN (30 SEPTEMBER 2011)                                                                   CURRENCY BREAKDOWN (30 SEPTEMBER 2011)
COUNTRY                                                                                         %        CURRENCY                                                                                        %
United States                                                                               94,21        US dollar                                                                                  91,28
Cash & Cash Equivalents                                                                     24,69        S Korean Won                                                                                 1,95
South Korea                                                                                  1,95        Swedish Krona                                                                                1,59
Sweden                                                                                       1,59        Australian Dollar                                                                            1,45
Australia                                                                                    1,45        Malaysi Ringgit                                                                              1,42
Malaysia                                                                                     1,42        Norwegian Krone                                                                              0,95
United Kingdom                                                                               0,98        Mexican Peso                                                                                 0,88
Norway                                                                                       0,95        Japanese Yen                                                                                -1,28
Offset Derivatives                                                                         -31,67        Euro                                                                                        -2,53
Other                                                                                        4,45        Other                                                                                        4,30




IMPORTANT INFORMATION AND DISCLAIMERS
1. As of 16th September 2011, the Franklin U.S. Ultra-Short Bond Fund was renamed to Franklin U.S. Low Duration Fund.
2. Copyright - © 2011 Morningstar, Inc. All Rights Reserved. Morningstar Rating™ as of 30 September 2011, in the USD Diversified Bond - Short Morningstar Category™.
3. Chart performance figures are rebased to 100 at the Fund’s inception date.
4. Performance data may represent blended share class performance e.g. hybrid created from an A(dis) share class which was converted to A(acc). Performance figures represent the aggregate total return
for the period indicated assuming, where relevant, the reinvestment of dividends and distributions. Performance figures assume reinvestment of dividends. Performance figures above are for A(dis) shares,
except where only A(acc) shares are available, then A(acc) performance is shown. S&P sector average represents the Luxemburg universe. The performance data does not take account commissions and/
or costs incurred on the issue and redemption of the shares.
5. A measure of the sensitivity of bond and bond mutual fund prices to interest rate movements. For example, if a bond has a duration of two years, its price would fall about 2% when interest rates rose
one percentage point. On the other hand, the bond’s price would rise by about 2% when interest rates fell by one percentage point. Due to rounding the percentages shown may be within 0.1% tolerance
of the true value. Due to rounding the percentages shown may be within 0.1% tolerance of the true value.
6. The portfolio manager for the Fund reserves the right to withhold release of information with respect to holdings that would otherwise be included in the top 10 holdings list.

Copyright © 2011. Franklin Templeton Investments. All rights reserved. Source for all data and charts (if not indicated otherwise): Franklin Templeton Investments. No responsibility is taken for the
correctness of the information provided above. Given the variety of investment options available today, we suggest investors seek guidance from a Financial Adviser. Nearly every investment entails special
risks that should be discussed with an experienced professional. Each investor’s goals are unique and proper guidance toward the most suitable products is essential. For more details regarding the
potential risks of this Fund, please refer to the current full or simplified Prospectus. Past performance is no guarantee of current or future performance.
This Fund is a sub fund of Franklin Templeton Investment Funds (FTIF), a Luxembourg-registered SICAV. This information does not constitute or form part of an offer for shares or an invitation to apply for
shares. The prices of shares and income received from it can go down as well as up, and investors may not get back the full amount invested. Currency fluctuation may affect the value of overseas invest-
ments.
An investment in FTIF entails risks which are described in the prospectus. No shares of the SICAV may be directly or indirectly offered or sold to nationals or residents of the United States of America.
Please consult your Financial Adviser before deciding to invest. In emerging markets, the risks can be greater than in developed markets. Please read the Prospectus before deciding to invest. Investments
in FTIF may not be suitable for all investors. All or most of the protections provided by the Swiss Regulatory System will not apply to the Franklin Templeton Investment Funds’ (SICAV) Investors.
Paying agent of Franklin Templeton Investment Funds in Switzerland is JPMorgan Chase Bank, Dreikonigstrasse 21, 8022 Zurich.
Subscriptions for shares in the Fund can only be made on the basis of the most recent Key Features and Prospectus which are available free of charge from Franklin Templeton Switzerland Ltd, Bahnhof-
strasse 22, P.O. Box, 8022 Zurich, Phone: +41 (0) 44 217 81 81, E- mail: info@franklintempleton.ch.
Issued by Franklin Templeton Switzerland Ltd, a company authorized and regulated by the Swiss Financial Market Supervisory Authority FINMA as representative of Franklin Templeton Investment Funds.

				
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