# For Professional Client Use Only. Not for distribution to Retail Clients.
l
Romania	2.76
Others	22.73
Credit Quality (Notional Exposure)	
% of Total
| Cash & Cash Equivalents | 5.98 |  | AA | 0.47 |
| --- | --- | --- | --- | --- |
|  |  |  | AA- | 0.39 |
| Currency (Notional Exposure) | % of Total |  | A+ | 0.11 |
| Euro | 96.25 |  | A | 1.01 |
| U.S. Dollar | 3.75 |  | A- | 1.95 |

BBB+	2.48
| Duration (Notional Exposure) | % of Total |  | BBB | 10.88 |
| --- | --- | --- | --- | --- |
| 0 to 1 Year | 19.32 |  | BBB- | 14.54 |
| 1 to 2 Years | 46.54 |  | BB+ | 22.05 |
| 2 to 3 Years | 22.26 |  | BB | 12.82 |
| 3 to 5 Years | 8.06 |  | BB- | 16.40 |
| 5 to 7 Years | 1.39 |  | B+ | 3.82 |
| 7 to 10 Years | 1.02 |  | B | 3.90 |
| 10 to 15 Years | 1.07 |  | B- | 0.22 |
| 15 to 20 Years | 0.43 |  | CCC+ | 1.45 |
| 20 to 30 Years | 0.09 |  | CCC | 0.48 |
| N/A | 0.01 |  | Not Rated | 0.68 |
|  |  |  | Not Applicable | 0.01 |
|  |  |  | Cash & Cash Equivalents | 5.98 |
|  |  |  |  |  |
| Portfolio Data Derivatives Disclosures |  |  |  |  |

What Are the Key Risks?
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 through certain derivatives held in the portfolio (or their underlying reference assets). Credit Quality and Average Credit Quality figures are intended to estimate the portfolio's exposure to issuer credit risk, including any hedged or increased exposure through credit derivatives held in the portfolio (or their underlying reference assets). Any credit derivatives are assigned the ratings of their underlying reference assets. Average Duration, Average Weighted Maturity and Yield to Maturity reflect certain derivatives held in the portfolio (or their 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.
The value of shares in the Fund and income received from it can go down as well as up and investors may not get back the full amount invested. Performance may also be affected by currency fluctuations. Currency fluctuations may affect the value of overseas investments. The Fund invests principally in higher yielding euro-denominated debt securities issued by corporations globally, including those located in emerging markets. Such investments have historically been subject to price movements, generally due to changes in the creditworthiness of corporate issuers, interest rates or movements in the bond market. As a result, the performance of the Fund can fluctuate moderately over time and may also result in capital loss. Other significant risks include: counterparty risk, credit risk, emerging markets risk, liquidity risk. In particular, the Fund is exposed to credit risks, the risk of loss arising from default that may occur if an issuer fails to make principal and interest payments when due. This risk is higher if the Fund holds low-rated, non-investment-grade securities. Default rates may change over the 5-year period of the Fund. A default of a bond issuer could have a material loss impact on capital invested. For full details of all of the risks applicable to this Fund, please refer to the “Risk Considerations” section in the current prospectus of Franklin Templeton Opportunities Funds.
Important Information
Issued by Franklin Templeton International Services, S.à r.l. Franklin Templeton Opportunities Funds (the “Fund”) is a Luxembourg registered SICAV. Source for data and information provided by Franklin Templeton, as of the date of this document, unless otherwise noted. This document does not constitute legal or tax advice nor investment advice or an offer for shares of the Fund. Subscriptions to shares of the Fund can only be made on the basis of the current prospectus and where available, the relevant Key Information Document, accompanied by the latest available audited annual report and semi-annual report accessible on our website at www.franklintempleton.lu or which can be obtained, free of charge, from Franklin Templeton International Services, S.à
r.l. - Supervised by the Commission de Surveillance du Secteur Financier - 8A, rue Albert Borschette, L-1246 Luxembourg. The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. No shares of the Fund may be directly or indirectly offered or sold to residents of the United States of America. Shares of the Fund are not available for distribution in all jurisdictions and prospective investors should confirm availability with their local Franklin Templeton representative before making any plans to invest. An investment in the Fund entails risks, which are described in the Fund’s prospectus and where available, in the relevant Key Information Document. In emerging markets, the risk can be greater than in developed markets. Special risks may be associated with a Fund’s investment in certain types of securities, asset classes, sectors, markets, currencies or countries and in the Fund’s possible use of derivatives. These risks are more fully described in the Fund’s prospectus and where available, in the relevant Key Inforamtion Document and should be read closely before investing. Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. References to particular industries, sectors or companies are for general information and are not necessarily indicative of a fund's holding at any one time. The Fund's documents are available from www.ftidocuments.com in English, Dutch, French, German, Greek, Italian, Polish and Spanish or can be requested via FT's European Facilities Service available at https://www.eifs.lu/franklintempleton. In addition, a Summary of Investor Rights is available from www.franklintempleton.lu/summary-of-investor-rights. The summary is available in English. The sub-fund(s) of FTOF are notified for marketing in multiple EU Member States under the UCITS Directive. FTOF can terminate such notifications for any share class and/or sub-fund at any time by using the process contained in Article 93a of the UCITS Directive.
For the avoidance of doubt, if you make a decision to invest, you will be buying units/shares in the Fund and will not be investing directly in the underlying assets of the Fund.
Fund Overview: The Distribution Yield is based on the most recent month’s distribution and shown as an annualized percentage as of the date 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.
Fund Management: CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
© Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
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.
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.
www.franklintempleton.lu

Translation (ENFR, 2023-01-31):
# Réservé aux clients professionnels. Non destiné aux clients particuliers.
Caractéristiques du compartiment
Performance
Devise de référence du compartiment
EUR

## La performance passée ne permet pas de prédire les rendements futurs.
Performance sur 3 ans en devise de la part (%)
Actif net total (EUR)	365 millions
Date de création	05.04.2019
Date d'échéance du fonds	04.04.2024
Nombre de positions	105
Catégorie Morningstar™	Fixed Term Bond
Franklin Target Income 2024 Fund A1 (Ydis) EUR
110
Résumé des objectifs d'investissement
Rendement distribué – A1 (Ydis) EUR
2,74%
90
Équipe de gestion
Le Fonds a pour objectif d'offrir un redressement des rendements en investissant principalement dans des obligations d'entreprise libellées en euros avec un rendement fixé au moment de l'investissement sur une période de cinq ans.
David Zahn, CFA: Royaume-Uni Rod MacPhee, CFA: Royaume-Uni
70 01/20	07/20	01/21	07/21	01/22	07/22	01/23
| Performances ann | uelles gliss | antes en | devise | de la par | t (%) |  |
| --- | --- | --- | --- | --- | --- | --- |
|  | 01/22 | 01/21 | 01/20 | 01/19 | 01/18 | 01/17 | 01/16 | 01/15 | 01/14 | 01/13 |
|  | 01/23 | 01/22 | 01/21 | 01/20 | 01/19 | 01/18 | 01/17 | 01/16 | 01/15 | 01/14 |
| A1 (Ydis) EUR | -7,43 | 1,33 | 1,37 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |

Performance en devise de la part (%)
Allocation d’actifs (valeur de marché)
Cumulée
1 mois	3 mois	YTD	1 an	3 ans
Depuis création
A1 (Ydis) EUR	2,12	3,71	2,12	-7,43	-4,92	1,20
Performance par année civile en devise de la part (%)
%	
2022	2021	2020
A1 (Ydis) EUR	-10,48	2,24	2,44
Le rendement du fonds peut augmenter ou baisser sous l’effet des fluctuations de taux de change.
Le cours des actions du compartiment, ainsi que les revenus afférents, peuvent fluctuer à la hausse comme à la baisse, et il est possible que les investisseurs ne puissent pas récupérer l'intégralité des montants investis. Toutes les performances sont exprimées dans la devise du compartiment, incluent les dividendes réinvestis et sont nettes de frais de gestion. Les frais d'acquisition et autres commissions, taxes et divers frais à la charge de l'investisseur ne sont pas inclus. Le compartiment offre d'autres catégories d'actions sujettes à d'autres frais et dépenses, qui auront un impact sur leur performance.
Statistiques sur le compartiment
Notation de crédit moyenne		BB+ Duration moyenne	1,96 ans
Echéance moyenne pondérée	2,43 ans
Rendement à échéance	6,44%
Ecart type (3 ans)	10,65%
Ratio de Sharpe (3 ans)	-0,12
Ecart de suivi (3 ans)	10,63%
Ratio d'information (3 ans)	-0,15
Alpha (3 ans)	4,37%
Beta (3 ans)	-20,76
R² (3 ans)	0,35%
Corrélation (3 ans)	0,06
Informations sur la part
Frais	Dividendes	Identifiants du compartiment	
|  | Droits | Frais de |  | Date du | Dernier |  |
| --- | --- | --- | --- | --- | --- | --- |
| Date de |  |  | d’entrée | gestion max |  | dernier | dividende |  |  |
| Part	création | VL | TER (%) | (max) (%) | (annuels) (%) | Fréquence | versement | versé | Bloomberg ID | ISIN |

 A1 (Ydis) EUR	05.04.2019	93,68 EUR	0,75 	1,00	0,65	  annuelle	08.04.2022	2,5700	 FRT24AD LX LU1932919373
Les frais désignent les frais facturés aux investisseurs par le fonds pour couvrir les coûts d’exploitation du Fonds. Des frais supplémentaires, notamment des frais de transaction, seront également supportés. Ces frais seront acquittés par le Fonds, ce qui aura une incidence sur le rendement global du Fonds.
Les frais du Fonds seront supportés dans différentes devises, ce qui signifie que les montants acquittés peuvent augmenter ou diminuer en fonction des fluctuations de change.
Adresse	Téléphone	Site Internet
14 boulevard de la Madeleine - 75008 Paris 01 40 73 86 00	www.franklintempleton.fr
Franklin Target Income 2024 Fund	
31 janvier 2023
| Composition du compartiment |  |
| --- | --- |
| Région (exposition notionnelle) | % du total |  | Secteur (exposition notionnelle) | % du tota |
| Espagne | 13,38 |  | Dette d'entreprise High Yield | 56,96 |
| Etats-Unis | 12,76 |  | Dette d'entreprise Investment Grade | 29,59 |
| France | 12,51 |  | Quasi-souverain | 3,53 |
| Italie | 10,24 |  | Souverain | 2,05 |
| Royaume-Uni | 6,52 |  | Obligations d'entreprises Investment Grade USD | 0,77 |
| Pays-Bas | 5,33 |  | Obligations d'entreprises High Yield USD | 0,49 |
| Allemagne | 5,00 |  | Autres | 0,82 |
| Suisse | 2,98 |  | Liquidités et équivalents | 5,98 |
| Roumanie | 2,76 |  |
| Autres | 22,73 |
| Liquidités et équivalents | 5,98 |
| Devise (exposition notionnelle) Euro | % du total 96,25 |
| Dollar américain | 3,75 |