TempletonGlobalTotalReturnFund 31.08 · another through an intermediate third currency or where one currency is used as a proxy for hedging another currency (e.g. using the Canadian

Franklin Templeton Investment Funds

Templeton Global Total Return FundGlobal Fixed Income

31.01.2021

Fund Fact Sheet

E-Mail Web

[email protected] www.franklintempleton.com.hk

For the source and calculation basis of Fund information, please refer to the *Explanatory Notes section.

Risk ConsiderationsTempleton Global Total Return Fund invests principally in debt securities of any quality issued by governments,

government-related or corporate entities worldwide. The Fund is subject to debt securities risk, market risk, credit risk, foreign currency risk, concentration risk, volatility risk,

derivative instruments risk, risks associated with investments in debt instruments with loss-absorption features and emergingmarkets risk.Transactions in derivative instruments may be used to meet the investment objectives of the Fund and may therefore lead to

higher volatility to its net asset value.Investors should read the offering documents for details and the risk factors, in particular those associated with investments

in emerging markets.The Fund may at its discretion pay dividends out of the capital or out of gross income of the Fund while paying all or part of

the Fund s fees and expenses out of the capital of the Fund, which results in effectively paying dividends out of capital.Payment of dividends out of capital amounts to a return or withdrawal of part of an investor s original investment or from anycapital gains attributable to that original investment. Any distributions involving payment of dividends out of the Fund s capital orpayment of dividends effectively out of the Fund s capital (as the case may be) may result in an immediate reduction of the netasset value per share.The Fund is a complex product. Investors should exercise caution in relation to the Fund. Investment involves risks which

may result in loss of part or entire amount of your investment. Before you decide to invest, you should make sure theintermediary has explained to you that the Fund is suitable to you. Investors should not only base on this marketing materialalone to make investment decisions.

Performance*

Performance over 5 Years in Share Class Currency (%)

Templeton Global Total Return Fund A (Mdis) USD

80

100

120

Fund Overview

Base Currency for Fund USD

Total Net Assets (USD) 6.91 billion

Fund Inception Date 29.08.2003

Number of Holdings 164

Benchmark Bloomberg BarclaysMultiverse Index

Morningstar Category * Global Flexible Bond

Distribution Yield* A (Mdis)USD

9.57%

01/16 07/16 01/17 07/17 01/18 07/18 01/19 07/19 01/20 07/20 01/21

Performance in Share Class Currency (%)

Cumulative3 Mths YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Incept

A (Mdis) USD -0.10 -1.35 -7.25 -9.59 2.08 15.77 177.15

Benchmark in USD 2.54 -0.86 6.81 12.82 25.56 32.70 110.37

Summary of Investment Objective

The Fund aims to maximise total investment returnconsisting of a combination of interest income, capitalappreciation, and currency gains by investing principally ina portfolio of fixed and floating rate debt securities anddebt obligations issued by government andgovernment-related issuers or corporate entitiesworldwide. The Fund may invest in investment grade andnon-investment grade debt securities. The Fund may alsouse various currency-related and other transactionsinvolving derivative instruments.

Calendar Year Performance in Share Class Currency (%)

2020 2019 2018 2017 2016

A (Mdis) USD -6.55 -0.25 -0.58 3.57 5.98Benchmark in USD 9.02 7.13 -1.36 7.69 2.84

Fund Management*

Michael Hasenstab, PhD: United States

Calvin Ho, PhD: United States

Fund MeasuresAverage Credit Quality* A-Average Duration 2.10 YearsAverage Weighted Maturity 2.47 YearsYield to Maturity 4.10%Standard Deviation (5 Yrs) 7.40%

Asset Allocation (Market Value)*

%Fixed Income 88.79Cash & Cash Equivalents 11.21

Offering Documents

Share Class Information

Fees Dividends Fund Identifiers

Share Class Incept Date NAVTER (%)31.12.2020

Max. SalesCharge (%)

Mgmt.Fee (%)

Max. Maint.Charge (%)

Max. Serv.Charge (%)

Last PaidDate

Last PaidAmount ISIN

A (Mdis) USD 29.08.2003 USD 11.04 1.43 5.00 0.75 0.30 N/A 18.01.2021 0.0880 LU0170475585A (acc) EUR 01.09.2006 EUR 22.82 1.43 5.00 0.75 0.30 N/A N/A N/A LU0260870661A (acc) EUR-H1 10.04.2007 EUR 17.95 1.43 5.00 0.75 0.30 N/A N/A N/A LU0294221097A (acc) HKD 29.01.2010 HKD 13.29 1.43 5.00 0.75 0.30 N/A N/A N/A LU0476943963A (acc) USD 29.08.2003 USD 27.71 1.43 5.00 0.75 0.30 N/A N/A N/A LU0170475312A (Mdis) AUD-H1 30.09.2010 AUD 7.45 1.43 5.00 0.75 0.30 N/A 18.01.2021 0.0570 LU0536402737A (Mdis) EUR 29.12.2005 EUR 9.13 1.43 5.00 0.75 0.30 N/A 18.01.2021 0.0720 LU0234926953A (Mdis) EUR-H1 16.06.2008 EUR 6.42 1.43 5.00 0.75 0.30 N/A 18.01.2021 0.0500 LU0366773504A (Mdis) GBP-H1 03.09.2007 GBP 5.18 1.43 5.00 0.75 0.30 N/A 18.01.2021 0.0400 LU0316493153A (Mdis) HKD 29.01.2010 HKD 7.23 1.43 5.00 0.75 0.30 N/A 18.01.2021 0.0580 LU0476943708A (Mdis) SGD-H1 30.09.2009 SGD 7.09 1.43 5.00 0.75 0.30 N/A 18.01.2021 0.0550 LU0450468698B (acc) USD 29.08.2003 USD 21.40 2.94 N/A 0.75 0.75 1.06 N/A N/A LU0170477102B (Mdis) USD 29.08.2003 USD 10.10 2.94 N/A 0.75 0.75 1.06 18.01.2021 0.0830 LU0170477284

Templeton Global Total Return Fund 31.01.2021

www.franklintempleton.com.hk

For the source and calculation basis of Fund information, please refer to the *Explanatory Notes section.

Composition of Fund*Templeton Global Total Return Fund Bloomberg Barclays Multiverse Index

Geographic (Market Value) % of TotalJapan 23.02 / 13.45Mexico 15.69 / 0.61South Korea 14.45 / 1.22Indonesia 10.30 / 0.55Argentina 7.33 / 0.07Ghana 5.31 / 0.02Norway 4.90 / 0.29India 3.22 / 0.09Colombia 2.98 / 0.19Others 1.60 / 83.51Cash & Cash Equivalents 11.21 / 0.00

Sector (Market Value) % of TotalLocal Curr. Govt/Agency Bonds: Investment Grade 74.56 / 45.68Local Curr. Govt/Agency Bonds: Non-Investment Grade 14.43 / 0.63Non-Local Curr. Sovereign Bonds: Non-Investment Grade 1.79 / 0.78Supranational 0.38 / 2.04Corporate Bonds: Investment Grade 0.00 / 18.01US Treasuries/Agencies 0.00 / 13.71Securitised: Mortgage-Backed Securities 0.00 / 9.54Corporate Bonds: Non-Investment Grade 0.00 / 3.40Derivatives: Currency Derivatives -2.36 / 0.00Others 0.00 / 6.21Cash & Cash Equivalents 11.21 / 0.00

Currency (Notional Exposure) % of TotalJapanese Yen 55.22 / 13.06South Korean Won 14.45 / 1.07Norwegian Krone 12.57 / 0.09Indian Rupee 10.91 / 0.00Indonesian Rupiah 10.30 / 0.34Swedish Krona 8.60 / 0.42Chinese Renminbi 7.62 / 0.00Argentine Peso 6.98 / 0.00Euro -34.54 / 23.63Others 7.89 / 61.40

Portfolio Data Derivatives Disclosures

Market value figures reflect the trading value of the investments. Notional exposure figures are intended to estimate the portfolio s exposure, including any hedged or increased exposure throughcertain derivatives held in the portfolio (or their underlying reference assets). Average Duration, Average Weighted Maturity and Yield to Maturity reflect certain derivatives held in the portfolio (ortheir underlying reference assets). Portfolio breakdown percentages may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

Important InformationUnless stated otherwise, all information is as of the publishing date of this document. Source: Franklin Templeton.Copyright © 2021. Franklin Templeton. All rights reserved.Franklin Templeton Investments (Asia) Limited and Legg Mason Asset Management Hong Kong Limited are the issuers of this document. This document is for information only and nothingcontained herein constitutes investment advice. All charts, data, opinions, estimates and other information are provided as of the date of this document and may be subject to change withoutnotice. This document is neither an offer nor solicitation to purchase shares of the fund. Investments involves risks, fund value may go up as well as down and past performance is notan indicator or a guarantee of future performance. The investment returns are calculated on NAV to NAV basis, taking into account of reinvestments and capital gain or loss. The investmentreturns are denominated in stated currency, which may be a foreign currency other than USD and HKD ( other foreign currency ). US/HK dollar-based investors are therefore exposed tofluctuations in the US/HK dollar/other foreign currency exchange rate. Please refer to the offering documents for further details, including the risk factors.Any share class with H1 in its name will attempt to hedge the currency risk between the base currency of the Fund and the currency of the share class, although there can be no guarantee thatit will be successful in doing so. In some cases, investors may be subject to additional risks.Distribution of this document may be restricted in certain jurisdictions. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone inany jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a report or make such an offer or solicitation. Any person coming intopossession of this document should seek advice for details of, and observe, such restrictions (if any). This document has not been reviewed by the Securities and Futures Commission of HongKong.Legg Mason Asset Management Hong Kong Limited is an indirect wholly owned subsidiary of Franklin Resources, Inc.

*Explanatory Notes

Performance: Performance information is based on the stated share class only, in Fund Currency, NAV to NAV, taking into account of dividend reinvestments and capital gain or loss.When performance for either the portfolio or its benchmark has been converted, different foreign exchange closing rates may be used between the portfolio and its benchmark.Morningstar Category : Copyright © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not becopied or distributed; and (3) is provided for reference purposes only. Past performance is not an indicator or a guarantee of future performance.Distribution Yield: The Distribution Yield refers to annualized yield. The Distribution Yield is based on the most recent month s distribution and shown as an annualized percentage as of thedate shown. It does not include any preliminary charge and investors may be subject to tax on distributions. Information is historical and may not reflect current or future distributions. The formulafor calculating Distribution Yield of the stated share class: (nr/p) x 100. r = last dividend paid; p = month end NAV; n = distribution frequency. n = 12 for monthly distribution; n = 4 for quarterlydistribution; n = 1 for yearly distribution.Fund Management: In the case of portfolio managers who are CFA Charterholders, CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Fund Measures: The average credit quality (ACQ) rating may change over time. The portfolio itself has not been rated by an independent rating agency. The letter rating, which may be based on bond ratings from different agencies (or internal ratings for unrated bonds, cash and equivalents), is provided to indicate the average credit rating of the portfolio's underlying investments and generally ranges from AAA (highest) to D (lowest). For unrated bonds, cash and equivalents, ratings may be assigned based on the ratings of the issuer, the ratings of the underlying holdings of a pooled investment vehicle, or other relevant factors. The ACQ is determined by assigning a sequential integer to all credit ratings AAA to D, taking a simple, asset-weighted average of investments by market value and rounding to the nearest rating. The risk of default increases as a bond's rating decreases, so the ACQ provided is not a statistical measurement of the portfolio s default risk because a simple, weighted average does not measure the increasing level of risk from lower-rated bonds. The ACQ may be lower if cash and equivalents are excluded from the calculation. The ACQ is provided for informational purposes only. Derivative positions are not reflected in the ACQ.Yield figures quoted should not be used as an indication of the income that has or will be received. Yield figures are based on the portfolio's underlying holdings and do not represent a payout of the portfolio.

Asset Allocation/Composition of Fund: Due to rounding, the sum of portfolio may not equal 100%.

© 2021. Franklin Templeton. All rights reserved.

Product Key Facts

Franklin Templeton Investment Funds –

Templeton Global Total Return Fund

Issuer: Franklin Templeton Investments (Asia) Limited Last updated: April 2020

• This statement provides you with key information about this product.• This statement is a part of the offering document.• You should not invest in this product based on this statement alone.

Quick facts

Management company: Franklin Templeton International

Services S.à r.l.

Investment manager(s): Franklin Advisers, Inc., United States

of America (internal delegation)

Depositary: J.P. Morgan Bank Luxembourg S.A.

Base currency: USD

Financial year end of this Fund: 30 June

Dealing frequency: Every Hong Kong Business Day

Minimum Investment: USD 1,000 [initial] and USD 500

[subsequent purchases] or equivalent

Ongoing charges over a year#:

Class A (Mdis) AUD-H1: 1.41%

Class A (Mdis) EUR: 1.40%

Class A (Mdis) EUR-H1: 1.40%

Class A (Mdis) GBP-H1: 1.40%

Class A (Mdis) HKD: 1.40%

Class A (Mdis) SGD-H1: 1.40%

Class A (Mdis) USD: 1.40%

Class A (acc) EUR: 1.40%

Class A (acc) EUR-H1: 1.40%

Class A (acc) HKD: 1.40%

Class A (acc) USD: 1.40%

Class B (Mdis) USD: 2.91%

Class B (acc) USD: 2.91%

Class N (acc) USD: 2.10%

#The ongoing charges figures are based on the semi-annual financial statements for the period ended 31 December 2019. These figures may vary from year to year.

Dividend policy: Dividends, if declared, will be reinvested unless

indicated by you in the application form to be paid out. Subject to

any legal and regulatory requirements, the Fund may at its

discretion pay dividends out of the capital or out of gross income

of the Fund while charging / paying all or part of the Fund’s fees

and expenses to / out of the capital of the Fund, which results in

an increase in distributable income for the payment of dividends

by the Fund and therefore, the Fund may effectively pay dividends

out of capital. The Fund may amend such distribution policy

subject to the SFC’s prior approval and by giving not less than one

month’s prior notice to investors. Any distributions involving

payment of dividends out of the Fund’s capital or payment of

dividends effectively out of the Fund’s capital (as the case may be)

may result in an immediate reduction of the net asset value per

share.

Franklin Templeton Investment Funds - Templeton Global Total Return Fund 1


What is this product?

This is a fund constituted in the form of a mutual fund. It is domiciled in Luxembourg and its home regulator is Commission de

Surveillance du Secteur Financier.

Investment Objective and Policy

Templeton Global Total Return Fund (“the Fund”) aims to maximize total investment return by achieving an increase in the value of its

investments, earning income and realizing currency gains over the medium to long term.

The Fund invests principally (that is, at least two-thirds of the Fund’s net assets) in:

• debt securities of any quality (including investment grade and non-investment grade securities) issued by governments, government-related or corporate entities worldwide

In exceptional market circumstances (such as extreme volatility) and on a temporary basis only, 100% of the Fund’s net assets may

be invested in liquid assets, with due regard to the principle of risk spreading.

The Fund may also invest on an ancillary basis in:

• mortgage- and asset-backed securities • debt obligations issued by supranational entities organized or supported by several national governments, such as the

European Investment Bank

• structured products (such as credit-linked securities, commercial and residential mortgage-backed securities as well as collateralised debt obligations, including collateralised loan obligations)

• securities in default (limited to 10% of net assets) • equity securities to the extent that such securities result from the conversion or exchange of a preferred stock or debt obligation • units of Undertakings for Collective Investment in Transferable Securities (“UCITS”) and other Undertakings for Collective

Investment (“UCIs”) (limited to 10% of the Fund’s net assets)

• convertible bonds • mortgage dollar roll transactions • Mainland China through the Bond Connect or directly (less than 30% of the Fund’s net assets)

The Fund may invest in financial derivative instruments for hedging, efficient portfolio management and/or investment purposes to

manage the risks of the portfolio and gain exposure to certain asset classes, currencies, or position on the yield curve (long maturities

vs. short maturities), or to exchange fixed rate obligations with floating rate obligations. The financial derivative instruments in which

the Fund may invest include swaps (such as credit default swaps, interest rate swaps or fixed income related total return swaps),

futures contracts, and foreign currency forward contracts, including cross currency forwards where one currency is hedged into

another through an intermediate third currency or where one currency is used as a proxy for hedging another currency (e.g. using the

Canadian dollar as a proxy for the U.S. dollar).

The Fund may invest up to 25% of its net assets in debt securities issued and/or guaranteed by a single sovereign issuer (including its

government, public or local authority) with a credit rating below investment grade at the time of purchase (such as Argentina, Brazil,

Colombia, Egypt, Ghana, Hungary, Indonesia, Italy, Mainland China, Malaysia, Mexico, Nigeria, Peru, Portugal, Russia, Serbia, South

Africa, Spain, Sri Lanka, Turkey, Ukraine and Uruguay). Such investments (if any) are made based on the professional judgment of

the Investment Manager whose reasons for investment may include a favourable/positive outlook on the sovereign issuer, potential for

rating upgrades and the expected changes in the value of such investments due to rating changes. Please note that the

abovementioned sovereigns are named for reference only and are subject to change as their credit ratings may change from time to

time.

The Fund may invest in debt instruments with loss-absorption features (“LAP”) e.g. contingent convertible securities, senior non-

preferred debts, etc. These instruments may be subject to contingent write-down or contingent conversion to ordinary shares on the

occurrence of trigger event(s). The Fund’s expected total maximum investments in LAP is 30% of its net assets.


The Fund may use futures contracts on U.S. Treasury securities to help manage risks relating to interest rates and other market

factors, to increase liquidity, and to quickly and efficiently cause new cash to be invested in the securities markets or, if cash is needed

to meet shareholder redemption requests, to remove Fund’s assets from exposure to the market. On an ancillary basis, the Fund may

gain exposure to debt market indexes by investing in index-based financial derivatives and credit default swaps.

The Fund employs a proprietary Environmental, Social and Governance (ESG) rating methodology to assess government bond

issuers, which is derived from a composite of subcategories determined to be material to macroeconomic performance. The research

team assigns scores on all invested countries by overlaying their views on a benchmark created by global indexes for current scores.

Projected numbers in anticipation of how conditions will change in the medium term are emphasized as part of the research process.

Preference is given to countries with higher ESG ratings or projected neutral to improving ESG ratings. ESG subcategories,

weightings, and global indexes used may change over time. The Investment Manager performs ESG rating methodology on all

potential and current holdings but the results of this methodology can be deviated from in the portfolio construction.

Use of derivatives / investment in derivatives

The Fund’s net derivative exposure may be more than 50% but up to 100% of the Fund’s net asset value.

What are the key risks?

Investment involves risks. Please refer to the offering document for details including the risk factors.

• Debt securities risk: The Fund is exposed to the credit/default risk of issuers of the debt securities that the Fund may invest in. Investment in the Fund is subject to interest rate risk. The debt securities will generally increase in value when interest rates

fall and decrease in value when interest rates rise. Credit ratings assigned by rating agencies are subject to limitations and do

not guarantee the creditworthiness of the security and/or issuer at all times. The Fund may invest in debt securities on which

the issuer is not currently making interest payments (defaulted debt securities). These securities may become illiquid. The

Fund’s investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks.

In adverse situation, the governmental entity may be unwilling or unable to pay interest and repay principal, or the

indebtedness may be restructured. In the event of a default on sovereign debt, the Fund may suffer significant losses. The

Fund may invest in higher-yielding securities rated lower than investment grade or unrated. Such securities are generally

subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.

• Market risk: The market values of securities owned by the Fund will tend to go up or down, sometimes rapidly or unpredictably, due to factors affecting individual issuers, particular industries or sectors within securities markets, or because of

general market conditions. During a general downturn in the securities markets, multiple asset classes (including different

sectors of the same asset class) may decline in value at the same time. Similarly, when markets perform well, there can be no

assurance that securities held by the Fund will participate in the advance. Because the securities the Fund holds fluctuate in

price in this manner, the Fund’s value may go down as well as up and investors may be adversely affected.

• Credit risk: The Fund is exposed to the credit/default risk of issuers of the debt securities that the Fund may invest in. Changes in the financial condition of an issuer, changes in economic and political conditions in general, or changes in

economic and political conditions specific to an issuer, are factors that may have an adverse impact on an issuer’s credit

quality and security value. Default can occur if an issuer fails to make principal and interest payments when due, which may

result in a substantial loss to the Fund. Debt securities are also exposed to the risk of being downgraded, which can adversely

affect and/or result in a substantial loss to the Fund.

• Foreign currency risk: The Fund will typically invest to a significant degree in securities that are denominated in currencies other than the base currency of the Fund, exposing its investments to changes in foreign exchange rates and the possibility of

exchange control regulations. Changes in currency exchange rates may adversely affect the value of the Fund, and also may

affect the income earned by the Fund and gains and losses realized by the Fund. The Fund may use instruments such as

currency forwards, cross currency forwards and currency futures contracts to hedge currency exposure, which can limit the


potential for currency gains, or to take a currency position for investment purposes, which can result in substantial loss to the

Fund. To the extent that the Fund seeks to hedge or protect against currency exchange risk, there is no guarantee that

hedging or protection will be achieved, and the value of the Fund may be adversely affected. Furthermore, the total return for a

share class that is denominated in a different currency (the “alternative currency”) from the base currency of the Fund may be

affected, either positively or negatively, by changes in the exchange rate between the Fund’s base currency and the alternative

currency.

• Concentration risk: The Fund seeks to maintain a portfolio with holdings in a relatively limited number of issuers. By being less diversified, the Fund may be more volatile than broadly diversified funds, or may be exposed to greater risk since

underperformance of one or a few positions will have a greater impact on the Fund’s assets. The Fund may be adversely

affected as a result of such greater volatility or risk.

• Liquidity risk: The Fund may not be able to easily sell securities due to adverse market conditions or reduced value or creditworthiness of issuers in which it invests. The inability of the Fund to sell securities or positions may also impede the ability

of the Fund to meet redemption requests in a timely manner. Certain securities may also be illiquid due to limited trading

markets or contractual restrictions on their resale. Reduced liquidity due to these factors may have an adverse impact on the

net asset value of the Fund.

• Valuation risk: Valuation of the Fund’s investments may involve uncertainties and judgmental determinations. Independent pricing information may not always be available. If valuations prove to be incorrect, the investors of the Fund may be adversely

affected.

• Volatility risk: The debt securities in emerging markets may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations. The bid and offer

spreads of the price of such securities may be large and the Fund may incur significant trading costs.

• Securitisation risk: A securitisation is composed of multiple tranches, usually spanning from the equity tranche (highest risk) to the senior tranche (the lowest risk). The performance of each tranche is determined by the performance of the underlying

assets or “collateral pool”. The collateral pool can encompass securities with different credit qualities, including high-yield

securities and junk bonds, and the credit rating of the tranche is not reflective of the quality of the underlying assets. A

securitization may be highly illiquid and prone to substantial price volatility. These instruments may be subject to greater credit,

liquidity and interest rate risk compared to other debt securities. They are often exposed to extension and prepayment risks

and risks that the payment obligations relating to the underlying assets are not met, which may adversely impact the returns of

the securities.

• Derivative instruments risk: Risk associated with derivative instruments – Derivative instruments involve cost, may be volatile, and may involve a leverage

effect. A small market movement may give rise to a proportionately larger impact, which may cause substantial loss to the

Fund. Other risks include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction

risk. In adverse situations, the Fund’s use of derivative instruments may become ineffective and the Fund may suffer significant

losses.

Risks of implementing active position in financial derivative instruments – The Fund may invest in financial derivative

instruments whose returns will not be correlated or will have low correlation with the underlying securities positions held by the

Fund. As a result, the Fund may experience losses even when there is no loss in the value of the underlying securities

positions held by the Fund. The Fund may experience losses from financial derivative instruments that exceed the capital

originally invested in said instruments.

• Swap agreements risk: In a standard “swap” transaction, two parties agree to exchange the returns (or differential in rates of return) earned or realized on particular predetermined investments or instruments. Whether the Fund's use of swap

agreements will be successful in furthering its investment objective will depend on the ability of the investment manager to


correctly predict whether certain types of investments are likely to produce greater returns than other investments. Swap

agreements are illiquid and in the event of the default or bankruptcy of a swap agreement counterparty, the Fund may suffer a

substantial loss.

• Credit-linked securities risk: The Fund may invest in credit-linked securities (such as credit default swaps). The Fund may be adversely affected by any delay or cessation in the making of payments by the issuers of the debt obligations underlying the

credit-linked security or by the issuer of the credit-linked security. If the market for credit-linked securities becomes illiquid, the

Fund could experience difficulty in selling such security at a price the investment manager believes is fair, and the Fund may

be adversely impacted.

• Structured notes risk: Structured notes involve a counterparty structuring a note whose value is intended to move in line with the underlying security specified in the note. Unlike financial derivative instruments, cash is transferred from the buyer to the

seller of the note. Investment in these instruments may cause a loss if the value of the underlying security decreases. There is

also a risk that the note issuer will default. The liquidity of a structured note can be less than that for the underlying security, a

regular bond or debt instrument and this may adversely affect the Fund.

• Risks associated with investments in debt instruments with loss-absorption features: Debt instruments with loss-absorption features are subject to greater risks when compared to traditional debt instruments as such instruments are typically

subject to the risk of being written down or converted to ordinary shares upon the occurrence of a pre-defined trigger events

(e.g. when the issue is near or at the point of non-viability or when the issuer’s capital ratio falls to a specified level), which are

likely to be outside of the issuer’s control. Such trigger events are complex and difficult to predict and may result in a significant

or total reduction in the value of such instruments. In the event of the activation of a trigger, there may be potential price

contagion and volatility to the entire asset class. Debt instruments with loss-absorption features may also be exposed to

liquidity, valuation and sector concentration risk. The Fund may invest in contingent convertible debt securities, commonly

known as CoCos, which are highly complex and are of high risk. Upon the occurrence of the trigger event, CoCos may be

converted into shares of the issuer (potentially at a discounted price), or may be subject to the permanent write-down to zero.

Coupon payments on CoCos are discretionary and may be cancelled by the issuer at any point, for any reason, and for any

length of time. The Fund may also invest in senior non-preferred debts. While these instruments are generally senior to

subordinated debts, they may be subject to write-down upon the occurrence of a trigger event and will no longer fall under the

creditor ranking hierarchy of the issuer. This may result in total loss of principal invested.

• Convertible securities risk: The Fund may invest in convertible securities (including contingent capital securities, hybrid bonds and bonds convertible into common stock or with warrants attached) which are a hybrid between debt and equity,

permitting holders to convert into shares of the issuer at a specified future date. Convertibles are exposed to equity movement

and greater volatility than straight bond investments. Investments in convertible securities are subject to the same interest rate

risk, credit risk, liquidity risk and prepayment risk associated with comparable straight bond investments. The value and

performance of the Fund may be adversely affected as a result.

• Emerging markets risk: The Fund may invest in, or be exposed to, emerging markets, which may involve increased risks and special considerations not typically associated with investment in more developed markets. The risks of investing in emerging

markets, which can adversely affect and/or result in a substantial loss to the Fund, may include: liquidity risks, currency

risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a

high degree of volatility.

• Europe and Eurozone risk: The Fund may invest in the Eurozone. Mounting sovereign debt burdens (e.g. any sovereigns within the Eurozone, which default on their debts, may be forced to restructure their debts and faced difficulties in obtaining

credit or refinancing) and slowing economic growth among European countries, combined with uncertainties in European

financial markets, including feared or actual failures in the banking system and the possible break-up of the Eurozone and Euro

currency, may adversely affect interest rates and the prices of securities across Europe and potentially other markets as well.


These events may increase volatility, liquidity and currency risks associated with investments in Europe. The aforesaid

economic and financial difficulties in Europe may spread across Europe and as a result, a single or several European countries

may exit the Eurozone or a sovereign within the Eurozone may default on its debts. In any event of the break-up of the

Eurozone or Euro currency, the Fund may be exposed to additional operational or performance risks. While the European

governments, the European Central Bank, and other authorities are taking measures (e.g. undertaking economic reforms and

imposing austerity measures on citizens) to address the current fiscal conditions, these measures may not have the desired

effect and therefore the future stability and growth of Europe is uncertain. The performance and value of the Fund may be

adversely affected should there be any adverse credit events (e.g. downgrade of the sovereign credit rating or default or

bankruptcy of any Eurozone countries).

• Counterparty risk: The Fund may be exposed to the credit/default risks of its counterparties and the Fund/investors may be adversely impacted.

• Class hedging risk: The hedging strategy for a hedged share class may not work as intended, exposing investors of that share class to currency risk. Additionally, investors of a hedged share class may be exposed to fluctuations in the net asset

value per share reflecting the gains/losses on and the associated transaction costs of the financial instruments used for

hedging, and such investors may be adversely impacted.

• Dividend policy risk: The Fund’s dividend policy allows for payment of dividends out of capital or effectively out of capital. Where this is done, it amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains

attributable to that original investment. Any distributions involving payment of dividends out of the Fund’s capital or payment of

dividends effectively out of the Fund’s capital (as the case may be) may result in an immediate reduction of the net asset value

per share.


How has the Fund performed?

The performance of the Fund in these years was achieved under circumstances that no longer apply. The investment policy was changed in 2012, 2014 and 2016.

• Past performance information is not indicative of future performance. Investors may not get back the full amount invested. • The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividends reinvested. • These figures show by how much class A (Mdis) USD increased or decreased in value during the calendar year being shown.

Class A (Mdis) USD is the share class available in Hong Kong with the longest history in the Fund. Performance data has been

calculated in USD, including ongoing charges and excluding subscription fee and redemption fee you might have to pay.

• Fund launch date: 29 August 2003 • Class A (Mdis) USD launch date: 29 August 2003

Is there any guarantee?

This Fund does not have any guarantees. You may not get back the full amount of money you invest.


What are the fees and charges?

Charges which may be payable by you

You may have to pay the following fees when dealing in the shares of the Fund.

Class A Class B Class N

Subscription fee (Initial sales charge) Up to 5.00% of the

subscription

amount

N/A Up to 3.00% of the

subscription

amount

Switching fee (Switching charge)* 1.00% of the

value of the

shares being

switched

N/A N/A

Redemption fee (Redemption charge) N/A Up to 4.00% N/A

Ongoing fees payable by the Fund

The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments.

Annual rate (as a % of the Fund’s net asset value)

Class A** Class B*** Class N**

Management fee (Investment management fee)* 0.75% 0.75% 0.75%

Depositary fee Up to 0.140% Up to 0.140% Up to 0.140%

Performance fee N/A N/A N/A

Administration fee N/A N/A N/A

Maintenance charge* 0.30% 0.75% 1.00%

Servicing charge N/A 1.06% N/A

Registrar and Transfer, Corporate, Domiciliary and

Administrative Agent fee +

Additional fixed amount per Shareholder account at each Class

level

Up to 0.2175%

Up to USD 30 per

annum

Up to 0.2175%

Up to USD 30 per

annum

Up to 0.2175%

Up to USD 30 per

annum

*The current fee level may be increased up to the maximum level permitted by the constitutive document of the Fund by giving one

month’s prior notice to the shareholders.

** The Annual Management Fees as defined in the Explanatory Memorandum comprise of the Management Fee (Investment

Management Fee) and the Maintenance Charge.

*** The Annual Management Fees as defined in the Explanatory Memorandum comprise of the Management Fee (Investment

Management Fee), the Maintenance Charge and the Servicing Charge.

Other fees

You may have to pay other fees and charges when dealing in the shares of the Fund.


Additional Information

• You generally buy and redeem shares at the Fund’s next determined net asset value (NAV) after the Hong Kong Representative, Franklin Templeton Investments (Asia) Limited, receives your request in good order on or before 4:00 p.m.

(Hong Kong time) being the dealing cut-off time. Certain intermediaries may impose an earlier dealing cut-off time.

• The net asset value of this Fund is calculated and the price of shares is published on each business day. Information about prices is available online at www.franklintempleton.com.hk.

• The compositions of the dividends (i.e. the relative amounts paid out of (i) net distributable income and (ii) capital) for the last 12 months are made available by the Hong Kong Representative on request and are also available online at

www.franklintempleton.com.hk.

• Investors may obtain the past performance information of other share classes offered to Hong Kong investors from the Hong Kong Representative’s website at www.franklintempleton.com.hk.

• Investors may obtain information on the intermediaries by calling the Hong Kong Representative at (852) 2877-7733 or visiting the Hong Kong Representative’s website at www.franklintempleton.com.hk.

• The website mentioned above has not been reviewed by the Securities and Futures Commission (“SFC”). Important

If you are in doubt, you should seek professional advice.

The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness.

31.01.2021

[email protected] www.franklintempleton.com.hk

*

*

5 ( ) (%)

A

80

100

120

( ) 6.91

29.08.2003

164

Multiverse

*

* A 9.57%

01/16 07/16 01/17 07/17 01/18 07/18 01/19 07/19 01/20 07/20 01/21

( ) (%)

3 1 3 5 10

A -0.10 -1.35 -7.25 -9.59 2.08 15.77 177.15

2.54 -0.86 6.81 12.82 25.56 32.70 110.37

( ) (%)

2020 2019 2018 2017 2016

A -6.55 -0.25 -0.58 3.57 5.989.02 7.13 -1.36 7.69 2.84

*

Michael Hasenstab, PhD:

Calvin Ho, PhD:

* A-2.102.474.10%

(5 ) 7.40%

*

%88.7911.21

(%)31.12.2020 (%) (%) (%) (%) ISIN

A 29.08.2003 11.04 1.43 5.00 0.75 0.30 18.01.2021 0.0880 LU0170475585

A 01.09.2006 22.82 1.43 5.00 0.75 0.30 LU0260870661A -1

10.04.2007 17.95 1.43 5.00 0.75 0.30 LU0294221097

A 29.01.2010 13.29 1.43 5.00 0.75 0.30 LU0476943963A 29.08.2003 27.71 1.43 5.00 0.75 0.30 LU0170475312A- 1

30.09.2010 7.45 1.43 5.00 0.75 0.30 18.01.2021 0.0570 LU0536402737

31.01.2021

*

Copyright © 2021 www.franklintempleton.com.hk

( )

(%)31.12.2020 (%) (%) (%) (%) ISIN

A 29.12.2005 9.13 1.43 5.00 0.75 0.30 18.01.2021 0.0720 LU0234926953

A- 1

16.06.2008 6.42 1.43 5.00 0.75 0.30 18.01.2021 0.0500 LU0366773504

A- 1

03.09.2007 5.18 1.43 5.00 0.75 0.30 18.01.2021 0.0400 LU0316493153

A 29.01.2010 7.23 1.43 5.00 0.75 0.30 18.01.2021 0.0580 LU0476943708

A- 1

30.09.2009 7.09 1.43 5.00 0.75 0.30 18.01.2021 0.0550 LU0450468698

B 29.08.2003 21.40 2.94 0.75 0.75 1.06 LU0170477102B 29.08.2003 10.10 2.94 0.75 0.75 1.06 18.01.2021 0.0830 LU0170477284

*Multiverse

%23.02 / 13.4515.69 / 0.6114.45 / 1.2210.30 / 0.557.33 / 0.075.31 / 0.024.90 / 0.293.22 / 0.092.98 / 0.191.60 / 83.51

11.21 / 0.00

%/ : 74.56 / 45.68/ : 14.43 / 0.63

: 1.79 / 0.780.38 / 2.04

: 0.00 / 18.01/ 0.00 / 13.71

: 0.00 / 9.54: 0.00 / 3.40: -2.36 / 0.00

0.00 / 6.2111.21 / 0.00

%55.22 / 13.0614.45 / 1.0712.57 / 0.0910.91 / 0.0010.30 / 0.348.60 / 0.427.62 / 0.006.98 / 0.00

-34.54 / 23.637.89 / 61.40

100%

Copyright © 2021( )

H1

( )Franklin Resources, Inc.

*

:

: Copyright © Morningstar, Inc. (1) Morningstar, Inc. (2) (3)

(nr/p) x 100 (r) (p) (n) n = 12 n = 4n = 1

CFA® Chartered Financial Analyst®ACQ

AAA DACQ AAA D

ACQACQ ACQ ACQ

/ 100%

姿斌雌涼碍踊

布利告燐釗父曇東雌嬉銀 –

釗父曇監窮綯畋悦嬉銀

皃講刃？布利告燐釗父曇東雌〔亠秋〕湧個効嗣

• 凡碍踊汀僑凡嬉銀適叔踊雌涼．• 凡碍踊制錏啅丙倦適溢楓噴．• 醒尤喃憮凡碍踊咋東雌穴底．

雌涼娩觀

緩痢効嗣: Franklin Templeton International Services S.à r.l. 東雌絛痢: Franklin Advisers, Inc.,柊圓〔乳楓尉濁〕尊緩刃: J.P. Morgan Bank Luxembourg S.A. 嬉銀過弊: 柊厳坂星捻奴習訣入: 6倹 30入侯為瓶湊艇奴: 戾呼鴻甲嘶曲入塞偵東雌掛: 1,000柊厳 [受治]宮 500柊厳 [存悟戾治禰酵]袷筒０繕捻絛擾政貝斯疲葎 #: A (戾倹破束) 澡厳-尠億 1: 1.41% A (戾倹破束) 歔厳: 1.40% A (戾倹破束) 歔厳-尠億 1: 1.40% A (戾倹破束) 詠鏌-尠億 1: 1.40% A (戾倹破束) 甲厳: 1.40% A (戾倹破束) 森嘉垉厳-尠億 1: 1.40% A (戾倹破束) 柊厳: 1.40% A (令蚕) 歔厳: 1.40% A (令蚕) 歔厳-尠億 1: 1.40% A (令蚕) 甲厳: 1.40% A (令蚕) 柊厳: 1.40% B (戾倹破束) 柊厳: 2.91% B (令蚕) 柊厳: 2.91% N (令蚕) 柊厳: 2.10% #絛擾政貝斯疲葎制混擅戰詞 2019捻 12倹 31入適叛捻奴坂無宝穀警蚕・戾捻錦夏膿湧曙斟堂．

破束星錯？菰束〔韮湧〕哉東雌・償樋革仮甥真醒豹殻宙凋迷．修図膚拷忍価烹励宮烹貴踊泣仮・凡嬉銀夏司羊錫条槲裕凡嬉銀適雌凡袷裕綯畋尿宙斯手菰束・導滋甥～徘凡嬉銀適雌凡宙起尿～斯夫凡嬉銀適繕楓袷楓噴非羊宮貝斯・位遅凡嬉銀羊甥斯夫菰束適夏噴培畋尿夋嘉・引今・凡嬉銀夏寞在丞徘雌凡宙斯夫菰束．絛譛竿偐侍占斐旬宮陶蚊喉東雌車皃述埠庄甥溢呼倹適侍占栂弛・凡嬉銀夏拾蹄骸筒破束星錯．忍価菰束噴破弱慎宮裕凡嬉銀適雌凡宙斯手菰束袷寞在丞裕凡嬉銀適雌凡宙斯手菰束〔詩古条狭自底〕・夏撞遅戾菰雌姿淅０捉滋玄庄．

布利告燐釗父曇東雌嬉銀 - 釗父曇監窮綯畋悦嬉銀 1

龜焉齣霰◇ 2020榱 4━

嬪〃固㍼穵鯢鷳苞輞娩腩 - 穵鯢鷳イ29害鍮ゐ娩腩 2

凡嬉銀制腎庠姿斌゛

凡嬉銀位午悴嬉銀恵鴫訴整・罪蘯浸塋整掠・寿 Commission de Surveillance du Secteur Financier竿緩．

東雌勿漂宮星錯

釗父曇監窮綯畋悦嬉銀〔“凡嬉銀”〕遅倫甥宙棄詞鳥棄陶蚊東雌夋０，畋悦宮過弊哨０寞舷塞醍綯東雌壊宝．

凡嬉銀守踊〔捉凡嬉銀塞庄参噴嚢弐適淅雌姿〕東雌甥？

• 畝絵拡恥星扶，星扶糟闥毅洪袷効嗣皃講適忍価蔀蘇嚢再無譛喧〔報渇東雌給蔑宮樋東雌給蔑譛喧〕．罪禿珠適志嬢条狭仮〔励韮桐奴琶堂〕宮但罪隣滋嬉租丞・凡嬉銀塞剛奪 100%適淅雌姿罪肱虜蕩蕗隱噴燦適幻息仮・夏東雌甥琉堂

雌姿．

罪募女適条狭仮・凡嬉銀又夏東雌甥？

• 案硏舍雌姿提横譛喧． • 裕汰圓星扶訴色袷斯次適銚圓科毅洪曙皃講嚢匠間再高・励韮歔秋東雌倶講． • 訣洪政姿斌〔励韮唇逮樫嚇譛喧，嘗曲舍十択提横拜鋪譛喧宮再無提横譛喧・報渇逮汗提横譛喧〕． • 医訳譛喧 (個甥雌姿淅０適 10%)． • 菰評譛喧・沈詞骸菰評譛喧裕轎柑袷侯柑適友占菰袷匠間再高曙洫精． • 夏轎讙譛喧什髟東雌危曲宮存太什髟東雌危曲適喃偉(個甥凡嬉銀雌姿淅０適 10%)． • 夏轎柑再喧． • 案硏滲堂侯為． • 宙圓凪恥〔陶蚊再喧栂～袷沈折東雌〕〔庄甥雌姿淅０適 30%〕．

凡嬉銀夏東雌甥銀予洫精巷虞・咋異尠億，湧敕緩痢東雌訴拷宮～袷東雌勿適・位奪遅緩痢東雌訴拷蕗隱宮手涜慎宮冒叉雌姿伶蔑，過弊

袷次壮畋悦葎玉羨〔閣鳥捻棄糟尠閣箪捻棄〕袷位符堂束葎再無兢柑孤底束葎再無適毅偐．凡嬉銀夏東雌適銀予洫精巷虞報渇掵棄拷訳

〔励韮唇逮医訳掵棄，履葎掵棄袷舍孤底畋悦糟闥適綯壊宝掵棄〕，棄過拷訳宮害弊鴛棄拷訳・報渇過弊侯甦鴛棄・捉溢趣過弊陶蚊宙関

適題参法過弊尠億異吧溢趣過弊袷司羊溢趣過弊咋異尠億吧溢趣過弊嚢大滞斌〔励韮司羊嘉擔醍厳咋異柊厳嚢大滞斌〕．

凡嬉銀夏東雌塞剛奪存雌姿淅０適 25%甥裕喃溢守槲皃講毅洪〔報渇存星扶，効協袷恥法毅洪〕曙皃講宮～袷拜鋪，東雌滋唇逮廟給

偵甥東雌給蔑適再無譛喧〔励韮愛混悌，播誓，唏林疲亠，埔宮，嘉脳，匍笈履，員迩，易醍履，宙圓乳恥，廃儘誓亠，朴誓唏，

迩入履亠，罷炉，部銅笈，我裸旨，宰痔胃亠，軟樋，誓繁笈，旨陸利厫，怒蒔存，迂告利宮迂拮型〕．骸筒東雌〔韮湧〕制囲擅東雌

絛痢適尓曲反旆咋述・存東雌炊旆報渇尠守槲皃講毅洪適漸渓次槿觜～績桐替奴・幼棄唇逮廟給丞超宮引廟給超晴自尠骸筒東雌儉０適

幼棄遭征．醒衷易・丞峻曙汀宮適守槲圓明喰僑雙肱・閉偐邂丁存埠滋適唇逮廟給校晦自述舷斟堂．

凡嬉銀夏東雌甥虞湧遜室弓畋禿鎮適再無巷虞〔『』〕〔励韮懈朽夏轎柑譛喧，剛給樋友占再無〕．罪皃精訖皃侍倦滋・今筒巷虞

夏膿費袷湧撟玄儉０袷費袷湧轎柑異父栂菰．凡嬉銀甥 LAP 適幼警塞剛綯東雌掛異存雌姿淅０適 30%．


凡嬉銀夏履羊棄過拷訳甥柊圓圓戸譛喧・湧女緩痢舍履葎糟闥宮存宸志嬢引蘇嚢蕗隱位夋怯琉堂政・閉靭属湧敕恥例森適舷銀東雌譛喧

志嬢袷韮歌収踊舷銀懈夫菰伋次湧刃赭壊踊泣・迭償凡嬉銀雌姿招寿適志嬢蕗隱．罪募女適条狭仮・凡嬉銀對陶蚊東雌甥位孜斃異嬉盾

適銀予洫精巷虞宮唇羊医訳掵棄位手涜慎宮再無志嬢孜斃適毅偐．

凡嬉銀歳羊尓湧適監強，者偐歪緩璽〔ESG〕廟給法烹儘廟佝星扶再喧皃講刃・剝制裕尠巧觜絛濬豹舷詞闥叔踊適市伶蔑訴拷涜述適．

絹笈嗇鯛栂蚊對存觜黠弗該罪裕繕窮孜斃人尠舷講涜噴叢懸適嬉旬丞儘噴培曙湧東雌圓科適涜噴．幼棄宙棄条狭對韮価斟何適幼速斃慈

制怯超異絹笈蚊艇適溢楓噴．ESG筒給閣剛袷幼棄尠 ESG筒給汀剛次宙掠替奴適圓科偐友占銭擘．ESG適市伶蔑，槲叔歪司羊適繕窮

孜斃夏膿偐邂滋関斟何．東雌絛痢尠曙湧潭罪歪舷講次湧適再喧歳羊 ESG廟給法烹・辰骸法烹適訣歌夏膿偐舍東雌訴拷適洪懸湧曙片

沙．

荏羊洫精巷虞～東雌洫精巷虞

凡嬉銀適洫精巷虞蕗隱招拜淅掛夏汰甥凡嬉銀雌姿淅０適 50%閉奪詞 100%．

凡嬉銀湧唅叉守踊蕗隱゛

東雌慎宮蕗隱・醒雙援錏啅丙倦・僚塊蕗隱引蘇筒雌涼．

• 再無譛喧蕗隱？凡嬉銀招寿凡嬉銀夏膿東雌適再無譛喧適皃講毅洪適唇逮～医訳蕗隱．凡嬉銀適東雌招寿履葎蕗隱．溢販自限・履葎仮跋滋・再無譛喧適儉０偐丞哨・履葎丞哨滋息偐仮跋．廟給毅洪牛与適唇逮廟給尊罪個姓・埠膿滋国鋪譛骸譛喧宮～袷皃

講毅洪適唇讌．凡嬉銀夏東雌甥皃講毅洪舷滋泄湧咋述履束夫汗適再無譛喧〔医訳再無譛喧〕．今筒譛喧夏膿斟異琉栂政埠俗．

凡嬉銀甥裕星扶皃講袷拜鋪適譛喧適東雌袷偐招寿星璽，者偐宮絛濬蕗隱．罪志狭偵鳴適条狭仮・星扶毅洪巳筆伎易袷膿⓿斯夫

履束宮匠間凡銀・袷再無夏膿費叔訴．弱守槲再無医訳・凡嬉銀夏膿木寿叔醍遜室．凡嬉銀夏東雌甥閣剛束自末費廟異偵甥東雌

給蔑袷巳費廟給適譛喧．舍剛廟給再無譛喧糟疲・骸筒譛喧栂擾琉堂政閣偵，琶堂政閣剛宮遜室凡銀舍履束適蕗隱閣醍．

• 志嬢蕗隱？裕甥寿呼蔑皃講毅洪，譛喧志嬢乳禿底講曲袷絵蔑適引蘇袷溢販志狭曳驚・凡嬉銀曙次譛喧適志嬢儉０夏哨夏跋・湧滋校夏膿述舷朽属袷矛烹幼警適哨跋．疇譛喧志嬢埠渓汕・汰呼雌姿伶蔑〔報渇導溢雌姿伶蔑適埠導絵蔑〕適儉０夏膿導滋仮

跋．導橄恥・疇志嬢豹舷遼孝・夜埠膿鋪譛凡嬉銀曙次湧適譛喧對寿悴．引異凡嬉銀次湧適譛喧儉殻位丞峻法鴫琶堂・凡嬉銀適

儉０偐丞哨宮仮跋・夏膿尠東雌車湧埠履曳驚．

• 唇逮蕗隱？凡嬉銀袷図招寿凡嬉銀曙東雌適再無譛喧適皃講毅洪適唇逮～医訳蕗隱．皃講毅洪適坂無眞狭適轎斟，晴髟絛濬宮星璽条狭適晦斟袷禿蔑尠皃講毅洪湧闥適絛濬宮星璽引蘇適晦斟・剝叉引蘇砥夏膿尠皃講毅洪適唇逮蔀蘇宮譛喧儉０湧埠履適曳

驚．僲冒溢皃講毅洪甥蕩棄滋巳膿斯夫凡銀宮履束夫汗・医訳修夏膿皃精・剝夏膿撞遅凡嬉銀招寿叔醍遜室．再無譛喧又献慎費

香偵廟給適蕗隱・剝夏膿尠凡嬉銀湧埠履曳驚宮～袷撞遅凡嬉銀招寿叔醍遜室．

• 害弊蕗隱？凡嬉銀栂擾醍領東雌甥位凡嬉銀宝儉過弊位害適存太過弊底０適譛喧・夏膿例骸筒東雌招寿匳葎斟堂宮害匳緩姓貴励適曳驚．害琡兢舷葎適琶堂夏膿尠凡嬉銀適儉０洪整赴摸曳驚・又夏曳驚凡嬉銀贄涜適畋尿宮凡嬉銀適寞在履純舍蚓遜．凡嬉銀

夏司羊巷虞・励韮過弊鴛棄，侯甦過弊鴛棄宮過弊棄過拷訳・位尠億過弊蕗隱・剝夏個姓過弊夋悦潭倫・袷次湧過弊次壮咋東雌


羊鍍・剝夏撞遅凡嬉銀招寿叔醍遜室．罪凡嬉銀尽泣咋尠億袷頬煩害琡兢舷蕗隱適条狭・泄湧鋪譛偐奪蕩尠億袷頬煩敕歌・宮凡

嬉銀適儉０夏膿寿蕩埠履曳驚．今害・位埠導甥凡嬉銀宝儉過弊適過弊〔『吧溢夏銭擘過弊』〕警０適菰伋伶蔑適綯壊宝・夏膿

引凡嬉銀宝儉過弊舍吧溢夏銭擘過弊嚢関適匳葎斟堂自寿蕩牲摸袷赴摸曳驚．

• 什宙蕗隱？凡嬉銀尽泣胃次溢呼裕斃領湧個適皃講毅洪適譛喧訴整適東雌訴拷・裕甥東雌疲閣什宙・凡嬉銀夏膿閣噴燦東雌適嬉銀琶堂・袷招寿閣醍適蕗隱・引異溢呼袷楓噴次壮適豹舷乱悟對尠嬉銀雌姿姿精校醍適曳驚．凡嬉銀夏膿引骸筒閣醍琶福袷蕗隱

寿蕩赴摸曳驚．

• 琉堂政蕗隱？凡嬉銀夏膿裕甥志狭偵鳴袷儉０仮跋袷存東雌嚢皃講毅洪適唇讌惠何・自二位述啅譛喧．凡嬉銀矛烹述啅譛喧袷次壮又夏膿曳驚凡嬉銀宮滋游俗赭壊醒泣適膿倫．弱患譛喧又夏膿引侯為志嬢湧個袷拷訳個姓轎啅自罌傍琉堂政．裕骸筒引蘇淫遅

適琉堂政香偵夏膿尠凡嬉銀適雌姿淅０湧埠遼適曳驚．

• 佝０蕗隱？凡嬉銀適東雌佝０袷偐慎宮埠迷榔引蘇宮反底政適穴底．巳筆夏溢沈汀僑獸掠底儉雌涼．韮譛寞佝０埠牲覚・凡嬉銀適東雌車夏膿偐寿蕩埠履曳驚．

• 琶堂政蕗隱？舍閣皃奪志嬢疲閣・森郷志嬢適再無譛喧夏膿寿閣剛琶堂政宮閣偵琉堂政曳驚．罪骸筒志嬢賠賽適譛喧適儉殻袷図招寿琶堂．骸筒譛喧適賠尿儉舍賽述儉適沙儉夏膿閣醍・凡嬉銀袷偐捷遅叔醍適侯為整凡．

• 譛喧何姿斌蕗隱？譛喧何姿斌裕汰呼惣給訴整・栂擾徘菰評惣給〔塞剛蕗隱〕蕩友占惣給〔塞偵蕗隱〕．拡呼惣給適豹舷手穴甥糟闥雌姿袷『提横斌稚』適豹舷．提横斌稚夏報巌埠導唇逮蔀蘇適譛喧・報渇剛束譛喧宮垮坫再喧・叶惣給適唇逮廟給閉樋帆栄

糟闥雌姿適蔀蘇．譛喧何姿斌夏膿剛奴埠琉栂・引今儉殻揚為醍福琶堂．今筒巷虞糟疲存太再無譛喧夏膿招寿閣剛適唇逮，琉堂

政宮履葎蕗隱．存栂擾招寿掩鳥宮幼夫蕗隱・位宮舍巳膿梨講糟闥雌姿適斯夫跡忍糟闥適蕗隱・剝叉錦夏膿尠譛喧適壊宝側整埠

履曳驚．

• 洫精巷虞蕗隱？洫精巷虞曙撫幄適蕗隱 – 洫精巷虞適東雌慎宮整凡・又夏膿閣琶堂・閉夏膿慎宮槎梏敕懈．閣尚適志嬢琶堂夏膿側整糟尠醍適曳

驚・袷偐例凡嬉銀招寿叔醍遜室．存太蕗隱報渇侯為尠殊～唇逮蕗隱，琉堂政蕗隱，佝０蕗隱，琶堂政蕗隱宮嬢害侯為志嬢侯為

蕗隱．罪埠履適志狭仮・凡嬉銀司羊洫精巷虞夏膿偐側整室敕・引自例凡嬉銀木寿叔醍遜室．

嫉講守堂銀予洫精巷虞次壮適蕗隱 – 凡嬉銀夏東雌甥銀予洫精巷虞・存畋悦夏膿舍凡嬉銀次湧適糟闥譛喧次壮閉矛闥連袷闥連政

偵．引今・捉司凡嬉銀次湧適糟闥譛喧次壮適儉易閉矛遜室・凡嬉銀仆夏膿木寿遜室．凡嬉銀引銀予洫精巷虞木寿適遜室夏膿銚

蚊幻凡甥丞峻巷虞東雌適雌凡．

• 掵棄卿菊蕗隱？罪溢販漂盾嚢『掵棄』侯為宙・曼法導易午柑曙贄手嚢壊宝〔袷壊宝葎沙漁〕・剝叉壊宝〔袷壊宝葎沙漁〕制徘贄手袷斟舷冒叉帋穴底東雌袷巷虞宙曙穫手．凡嬉銀嚢掵棄卿菊制庇膿整勾奪蕩存東雌勿漂・詩古東雌絛痢制庇膿牲覚幼速価筒

東雌對膿疲存太東雌幄儘閣醍壊宝．掵棄卿菊制樋琉堂政適．弱侯為尠殊医訳袷罵姿・凡嬉銀夏膿招寿叔醍遜室．


• 唇逮樫嚇譛喧蕗隱？凡嬉銀夏東雌甥唇逮樫嚇譛喧〔励韮唇逮医訳掵棄〕．忍価裕唇逮医訳掵棄適糟闥匠間再高適皃講毅洪袷唇逮樫嚇譛喧適皃講毅洪咋述夫汗適掩遽袷剃氏夏膿尠凡嬉銀湧埠履曳驚．弱唇逮樫嚇譛喧志嬢斟異琉栂政埠俗・自凡嬉銀韮浴位

嬉銀絛痢禰異効柄適儉殻賽述今筒譛喧・夏膿偐霜串墾二・凡嬉銀夏膿寿蕩埠履曳驚．

• 訣洪政評擅蕗隱？訣洪政評擅孜裕侯為尠殊懸洪適評擅・存儉０對跼邂評擅曙峻糟闥譛喧適儉殻遭征．湧蔑甥銀予洫精巷虞・評擅賠法図喉賽法侯夫舷銀．弱糟闥譛喧適儉０仮跋・東雌甥骸筒巷虞夏膿撞遅遜室．凡嬉銀又夏膿招寿評擅皃講毅洪医訳適蕗

隱．訣洪政評擅適琉堂政夏膿腿甥糟闥譛喧，溢販適再喧袷再無巷虞・引自夏膿尠凡嬉銀側整赴摸適曳驚．

• 舍東雌甥虞湧遜室弓畋禿鎮適再無巷虞糟闥適蕗隱？舍僖董再無巷虞糟疲・虞湧遜室弓畋禿鎮適再無巷虞摸隣校醍適蕗隱・幻引罪甥今伶巷虞栂擾偐摸隣罪皃精夏膿銚述皃講毅洪昂姓煩團適幼占絵底訖皃侍倦滋〔励韮・疇皃講刃折吟袷凭甥埠夏次纐嘶荏適

滋光・袷皃講刃適雌凡疲葎香詞溢呼孜底睡柄滋〕費撟玄儉０袷轎柑異父栂菰適蕗隱．今伶訖皃侍倦鮭草淵雕叶二位幼速・閉叶

夏膿撞遅今伶巷虞適儉０顱丁袷繕楓仮香．弱皃精訖皃侍倦・晴呼雌姿伶蔑夏膿偐述舷潭罪適儉殻未掩宮琶堂．虞湧遜室弓畋禿

鎮適再無巷虞又夏膿摸隣琉堂政，佝０宮講曲什宙蕗隱．凡嬉銀夏東雌甥桐異淵雕叶虞湧剛蕗隱適懈朽夏轎柑譛喧・栂擾費稾異

CoCo．皃精訖皃侍倦悟・CoCo夏膿偐費轎柑異皃講毅洪適菰評〔夏膿位窃讙儉轎柑〕・袷湧夏膿費洩休撟玄儉易詞麗．CoCo

適束評之絛錫条釟底悟斯夫・位宮皃講毅洪夏邂滋位忍価痢裕宮罪忍価溢談滋関乳手湘斯夫．凡嬉銀又夏東雌甥剛給樋友占再

無．蟄禅今筒巷虞溢販友占甥治給再無・辰罪皃精訖皃侍倦滋夏膿偐費撟玄儉０・閉叶對埠哉乢甥皃講毅洪適再槲刃筒給煩團．

剝夏膿偐撞遅帋東雌凡銀適繕楓遜室．

• 夏柑菰譛喧蕗隱？凡嬉銀夏東雌甥夏柑菰譛喧・湧闥譛喧制溢高紺拷再無宮菰評適東雌・揚鋸次湧刃甥巳儘適孜底入棄覇譛喧轎柑異皃講毅洪適菰伋．夏柑菰譛喧図招寿菰評斟堂蕗隱・自叶琶福剛甥僖董再喧東雌．東雌甥夏柑菰譛喧図招寿舍糟弱僖董再喧

東雌糟導適履葎蕗隱，唇逮蕗隱，琉堂政蕗隱宮幼夫汗高蕗隱．凡嬉銀適儉０宮豹舷夏膿引今寿蕩埠履曳驚．

• 森郷志嬢蕗隱？凡嬉銀夏東雌甥袷雙舍森郷志嬢・夏膿慎宮東雌甥閣皃奪志嬢溢販埠偐撫幄適校汰蕗隱宮禿蔑肱虜引蘇．東雌甥森郷志嬢適蕗隱夏尠凡嬉銀湧埠履曳驚宮～袷撞遅凡嬉銀招寿叔醍遜室・存夏膿報渇？琉堂政蕗隱，過弊蕗隱～緩姓，星璽宮絛

濬埠覚底政，烹立宮隻無蕗隱，訣蚕蕗隱，濁緩蕗隱宮撃廉琶堂適夏膿政．

• 歔秋宮歔厳卅蕗隱？凡嬉銀夏東雌甥歔厳卅．歔秋圓科再無赴拜嘉叔〔励韮歔厳卅乳忍価皃精再無医訳適圓科夏膿費謬震講再無叔訴宮摸尠二位穫涜唇逮袷哉予雌適墾二〕・絛濬夋鳥朋翰・位宮歔秋銀予志嬢尊罪埠迷榔引蘇・報渇有虜袷寞在倶講髟継室敕

宮歔厳卅舍歔厳夏膿塊髟・袷偐尠歔秋宮存太志嬢適履葎宮譛喧儉殻湧埠履曳驚．骸筒侍倦夏膿夋嘉舍東雌甥歔秋糟闥適蕗隱・

報渇琶堂政蕗隱，琉堂政蕗隱宮過弊蕗隱．歔秋丞峻適絛濬宮銀予墾強夏膿未掩詞晴呼歔秋．引今・喃溢袷汰呼歔秋圓科夏膿隊

述歔厳卅袷歔厳卅適圓科夏膿皃精再無医訳．僲歔厳卅袷歔厳塊髟・凡嬉銀夏膿招寿掛害適嘶荏袷責敕蕗隱．俟緩歔秋星扶，歔

秋往講宮存太疇極牲歳手曽枝〔励韮震講絛濬晦岳宮尠務睊寞講菌塾曽枝〕・位晦然舷滋適坂星眞狭・辰骸筒曽枝夏膿巳膿奪蕩

幼棄敕歌・引今・歔秋巳儘適穰底宮夋鳥仆埠迷榔．僲弱皃精忍価赴摸適唇羊侍倦〔励韮守槲唇逮廟給仮超袷歔厳卅乳適忍価圓

科皃精再無医訳袷罵姿〕・凡嬉銀適豹舷宮佝０夏膿寿蕩埠履曳驚．


• 侯為尠殊蕗隱？凡嬉銀夏膿招寿存侯為尠殊曙幄儘適唇逮～医訳蕗隱・宮夏膿尠凡嬉銀～東雌車湧埠履曳驚． • 尠億菰伋伶蔑蕗隱？冒溢尠億菰伋伶蔑適尠億錯流袷巳膿韮幼棄販皃旗咋羊・例骸菰伋伶蔑適東雌車招寿過弊蕗隱．今害・尠億菰伋伶蔑適東雌車・夏膿偐招寿帆栄羊咋尠億適銀予巷虞適遜悦宮糟闥侯為整凡適戾菰淅雌姿０丞適琶堂・夏膿尠骸筒東雌車湧

埠履曳驚．

• 破束星錯蕗隱？凡嬉銀嚢破束星錯咽鋸裕雌凡宙斯手菰束袷寞在丞裕雌凡宙斯手菰束．僲弱韮今講侍・筒甥隊間袷手壊東雌車嚢楓噴幻東雌汗高袷忍価歿乢甥幻東雌汗高適雌凡畋悦．忍価菰束噴破弱慎宮裕凡嬉銀適雌凡宙斯手菰束袷寞在丞裕凡嬉銀適雌凡

宙斯手菰束〔詩古条狭自底〕・夏撞遅戾菰雌姿淅０捉滋玄庄．

凡嬉銀蚊押適曲責豹舷韮価゛

凡嬉銀甥湧闥捻乳適曲責豹舷制罪舷滋埠哉溺羊適条狭仮奪遅．東雌星錯帋甥 2012捻，2014捻宮 2016捻校晦．

• 押責閉樋幼速入悟曲責豹舷適孜漂．東雌車巳筆膿手壊繕楓東雌凡銀． • 嬉銀曲責豹舷位鍊捻迄適雌姿淅０咋異疲閣嬉租・菰束偐滲尊哉咋東雌． • 丞峻斃擅顱耳 A (戾倹破束) 柊厳伶菰伋綯０罪湧闥鍊捻乳適哨跋福奴．A (戾倹破束) 柊厳伶菰伋制凡嬉銀甥鴻甲皃啅適菰伋伶蔑宙鍊四塞揖休適．曲責豹舷位柊厳警蚕・疇宙帆栄述嬉銀適次纐非羊・辰埠報渇嬉銀夏膿喉革仮畋手適禰酵非宮赭壊非．

• 嬉銀皃講入: 2003捻 8倹 29入 • A (戾倹破束) 柊厳伶菰伋皃講入: 2003捻 8倹 29入

凡嬉銀湧庇汀僑鋪譛゛

凡嬉銀閉埠汀僑忍価鋪譛．革仮巳筆膿手壊東雌凡銀．


東雌凡嬉銀慎宮唅叉非羊宮畋非゛

革仮袷図纑夫適畋非

凡嬉銀菰伋侯為袷図纑夫位仮非羊．

伶菰伋伶菰伋伶菰伋

禰酵非 (袷受治禰酵非羊) 塞剛異禰酵銀掛適

埠溺羊塞剛異禰酵銀掛適

轎柑非 (袷轎柑非羊轎柑菰伋適儉０適

埠溺羊埠溺羊

赭壊非 (袷赭壊非羊) 埠溺羊塞剛埠溺羊

凡嬉銀次纐纑夫適非羊

位仮畋非對徘凡嬉銀綯０宙扠償・革仮適東雌壊宝對偐引自玄庄．

捻葎 (凡嬉銀雌姿淅０適俵噴斃)

伶菰伋伶菰伋伶菰伋

緩痢非 (袷東雌緩痢非

尊緩非塞剛塞剛塞剛

曲責豹舷非埠溺羊埠溺羊埠溺羊

講星非埠溺羊埠溺羊埠溺羊

胃次非*

腹無非埠溺羊埠溺羊

賭起宮蚊顧，効嗣，顧脊宮講星大痢非 +

拡呼伶蔑睡柄嚢菰伋次湧刃顧后嚢孤底銀掛非羊

塞剛

戾捻塞剛柊厳

塞剛

戾捻塞剛柊厳

塞剛

戾捻塞剛柊厳

*陶蚊喉菰伋次湧刃皃述溢呼倹適侍占栂弛・舷滋適畋非睡柄夏汀剛詞凡嬉銀嚢訴整丙倦曙咽鋸適塞剛睡柄．

**戾捻緩痢非・韮嬉銀絕迷藷曙底誼・報渇緩痢非〔東雌緩痢非〕宮胃次非．

***戾捻緩痢非・韮嬉銀絕迷藷曙底誼・報渇緩痢非〔東雌緩痢非〕，胃次非宮腹無非．

存太非羊

凡嬉銀菰伋侯為袷図纑夫存太非羊宮畋非．


存太雌迅

• 罪侯為戰氏滋関捉鴻甲滋関仮吾始滋袷嚢漸絛鴻甲大豹〔捉布利告燐釗父曇東雌〔亠秋〕湧個効嗣〕畋打適禰酵宮赭壊踊泣・溢販案邂悟釟底適菰伋儉殻嫉講．楓噴宙解刃袷偐節底閣巣適侯為戰氏滋関．

• 凡嬉銀罪戾溢嘶曲入警蚕嚢雌姿淅０宮効怖菰伋儉殻・夏陶蚊位仮蒙竝 www.franklintempleton.com.hk 穫手． • 湧闥塞吟戎弐呼倹適菰束訴整〔捉徘〔i〕夏噴培淅畋尿宮〔ii〕雌凡宙噴破適糟尠斃掛〕・夏喉鴻甲大豹桜手・又夏陶蚊位仮蒙竝 www.franklintempleton.com.hk 穫手．

• 東雌車夏甥鴻甲大豹嚢蒙竝 www.franklintempleton.com.hk手涜存太喉鴻甲東雌車錏啅適菰伋伶蔑嚢蚊押曲責雌涼． • 東雌車夏遅吐 (852) 2877-7733 連酪鴻甲大豹袷瀛觀鴻甲大豹嚢蒙竝 www.franklintempleton.com.hk手涜宙解刃適雌涼． • 丞峻蒙竝閉巳異鴻甲譛喧宮棄過侍無竿撮尉姻偐〔譛竿偐〕慎援．

叔踊汀耳

革仮韮湧義紋・懈賜誂尓曲易賢．

譛竿偐尠凡碍踊適乳揚閉埠招拜忍価跡忍・尠存盾覚政袷寛晴政又埠咋述忍価墜峻．