# For Professional Client Use Only. Not for distribution to Retail Clients.
Composition of Fund
Sector
Long Exposure
Short Exposure
Net Exposure
Gross Exposure
Sector
Long Exposure
Short Exposure
Net Exposure
Gross Exposure
Exposure—Total	
(% of Total)	(% of Total)	(% of Total)	(% of Total)
Exposure—Total	
(% of Total)	(% of Total)	(% of Total)	(% of Total)
| North America | 94.17 | -65.22 | 28.95 | 159.38 |  | Europe | 5.22 | N/A | 5.22 | 5.22 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| IT Services | 25.93 | -0.12 | 25.82 | 26.05 |  | Semiconductors & | 4.24 | N/A | 4.24 | 4.24 |
| Software | 23.58 | -0.03 | 23.55 | 23.60 | Semiconductor Equipment	 |
| Semiconductors & | 18.23 | -14.25 | 3.97 | 32.48 | IT Services	0.98	N/A	0.98	0.98 |
| Semiconductor Equipment	 | Asia Pacific | 4.62 | N/A | 4.62 | 4.62 |
| Interactive Media &	8.01	N/A	8.01	8.01 | Semiconductors & | 2.98 | N/A | 2.98 | 2.98 |

Services	
Semiconductor Equipment	
Internet & Direct
7.33	-0.20	7.13	7.53
Internet & Direct
1.09	N/A	1.09	1.09
Marketing Retail	
Marketing Retail	
| Insurance | 3.71 | N/A | 3.71 | 3.71 |  | IT Services | 0.54 | N/A | 0.54 | 0.54 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Entertainment | 2.99 | -0.65 | 2.34 | 3.64 |  |  |  |  |  |  |
| Road & Rail | 2.70 | N/A | 2.70 | 2.70 |  |  |  |  |  |  |
| Hotels, Restaurants & Leisure | 1.16 | N/A | 1.16 | 1.16 |  |  |  |  |  |  |
| Communications Equipment | 0.53 | N/A | 0.53 | 0.53 |  |  |  |  |  |  |
| Information Technology | N/A | -23.45 | -23.45 | 23.45 |  |  |  |  |  |  |
| Equity Index | N/A | -26.52 | -26.52 | 26.52 |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| What Are the Key Risks? |  |  |  |  |  |  |  |  |  |  |

Important Information
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 seeks to achieve its investment objective by investing primarily in equity and equity-related securities of companies that derive a major portion of revenues or anticipated revenues from the information technology, communication services, and consumer discretionary sectors worldwide. The Fund utilises financial derivative instruments for hedging, efficient portfolio management and/or investment purposes. Such securities and investment instruments have historically been subject to price movements that may occur due to market or issue-specific factors. As a result, the performance of the Fund can fluctuate considerably over time. Other significant risks include: counterparty risk, foreign currency risk, derivative intruments risk and concentration risk. For full details of all of the risks applicable to this Fund, please refer to the “Risk Considerations” section of the Fund in the current prospectus of Franklin Templeton Alternatives Funds.
Issued by Franklin Templeton International Services, S.à r.l. Franklin Templeton Alternative 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. 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 Information 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 and German 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 FTAF are notified for marketing in multiple EU Member States under the UCITS Directive. FTAF 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. Benchmark related data provided by FactSet, as of the date of this document, unless otherwise noted.
All MSCI data is provided “as is.” The Fund described herein is not sponsored or endorsed by MSCI. In no event shall MSCI, its affiliates or any MSCI data provider have any liability of any kind in connection with the MSCI data or the Fund described herein. Copying or redistributing the MSCI data is strictly prohibited.
Source: Hedge Fund Research, Inc. www.hedgefundresearch.com. The HFR indices are being used under license from Hedge Fund Research, Inc., which does not endorse or approve of any of the contents of this report.
Unlike most asset class indexes, HFR Index returns reflect fees and expenses. Source: HedgeMark.
Important data provider notices and terms available at www.franklintempletondatasources.com.
© 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.
Portfolio Exposure:
Gross Exposure: Gross exposure is the sum of the absolute value of all exposures, directly or through derivatives, as a percentage of total assets. The sum of the percentage of long positions and short (in absolute terms) positions.
Net Exposure: Net exposure is the sum of the total value of all exposures, directly or through derivatives, as a percentage of total assets. The percentage value of the long positions less the percentage value of the short positions.
Long Exposure: Sum of the long exposures, directly or through derivatives, as a percentage of total assets. Short Exposure: Sum of the short exposures, directly or through derivatives, as a percentage of total assets.
Performance Benchmarks: Benchmarks provided for additional performance comparison are for informational purposes only; the fund manager does not intend for the portfolio to track them. The HFRX Equity Hedge Index represents a measure of a broad universe of long short equity hedge fund strategies. The MSCI World Information Technology Index includes securities that are classified in the Information Technology sector as per the Global Industry Classification Standard.
Performance Fee: 20% a year of any returns the Fund achieves above an applicable High Water Mark. The Performance Fee becomes due in the event of outperformance, that is, if the increase in the NAV during the relevant Performance Period (after deduction of any subscription and/or redemption fees levied) exceeds the applicable High Water Mark point. For more information, please see the Fund’s prospectus.
Performance: References to indices are made for comparative purposes only and are provided to represent the investment environment existing during the time periods shown. 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.
The share class shown has adopted a hedging strategy intended to reduce the effect of exchange rate movements between the currency of the Fund’s investment strategy and the currency of the share class. The benchmark returns displayed are shown in the reference currency of the Fund’s investment strategy (USD), while share class returns are shown in the reference currency of share class (EUR). As a result, the returns shown above reflect the effect of the hedging strategy and one can compare the returns of the Fund (net of fees) relative to its benchmark index without the impact of exchange rate movements on index returns.
www.franklintempleton.lu

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

## La performance passée ne permet pas de prédire les rendements futurs.
Performance sur 3 ans en devise de la part (%)
Actif net total (USD)	27 millions
Date de création	30.09.2019
Franklin K2 Wellington Technology Long Short UCITS Fund EO PF (acc) EUR-H1
MSCI World Information Technology Index en USD
HFRX Equity Hedge Index en USD
Nombre d'émetteurs, positions longues (hors liquidités)
Nombre d'émetteurs, positions courtes (hors liquidités)
82	
190
13	
170
Indice de référence	HFRX Equity Hedge Index, MSCI World Information Technology Index
Domicile du fonds	Luxembourg Type de fonds		UCITS
Souscription	Quotidiennement
150
130
110
90
| Rachat | Quotidiennement | 70 |  |
| --- | --- | --- | --- |
| Catégorie Morningstar™ | Alt - Long/Short Actions - | 50 01/20 | 07/20 | 01/21 | 07/21 | 01/22 | 07/22 | 01/23 |
| Autres	 Performances annuelles glissantes en devise de la part (%) |

Résumé des objectifs d'investissement
|  | 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 |
| EO PF (acc) EUR-H1 | -28,66 | 1,66 | 1,50 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| HFRX Equity Hedge Index en USD | 0,46 | 10,92 | 3,85 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |

|  | 1 mois | 3 mois | YTD | 1 an | 3 ans | Depuis création |
| --- | --- | --- | --- | --- | --- | --- |
| EO PF (acc) EUR-H1 | 6,52 | 1,29 | 6,52 | -28,66 | -26,39 | -21,60 |
| HFRX Equity Hedge Index en USD | 1,56 | 2,22 | 1,56 | 0,46 | 15,72 | 18,37 |
| MSCI World Information Technology Index en USD | 10,09 | 7,58 | 10,09 | -16,53 | 38,77 | 63,64 |

| Exposition Brute | 169,22 |
| --- | --- |
| Exposition Nette | 38,79 |
| Position acheteuse | 104,00 |
| Position vendeuse | -65,22 |

L’objectif d’investissement du Fonds est de générer des gains en capital à long terme.
| Équipe de gestion |  | MSCI World Information Technology Index en | -16,53 19,77 | 38,79 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Bruce Glazer: USA |  | USD |  |  |  |  |  |  |  |  |  |
| Ben Abad: USA |  | Performance en devise de la part (%) |  |  |  |  |  |  |  |  |  |
| Exposition du portefeuille (% du total) |  |  | Cumulée |  |  |  |  |  |  |  |  |

| Performance par année civile en devise de la part (%) |  |
| --- | --- |
|  | 2022 | 2021 | 2020 |
| EO PF (acc) EUR-H1 | -36,00 | 2,13 | 9,75 |
| HFRX Equity Hedge Index en USD | -3,18 | 12,14 | 4,60 |
| MSCI World Information Technology Index en USD | -30,60 | 30,15 | 44,26 |

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.
La part indiquée dans le présent document utilise une stratégie de couverture dans le but de réduire les effets des mouvements de taux de change entre la devise de référence du fonds et la devise de la part. Les rendements de l'indice de référence sont indiqués dans la devise de référence du fonds (USD), alors que les rendements de la part sont indiqués dans la devise de celle-ci (EUR). En conséquence, les rendements indiqués ci-dessus reflètent l'effet de la stratégie de couverture et on ne peut comparer les rendements du fonds (nets de frais) par rapport à son indice de référence sans considérer l'impact des taux de change sur les rendements de l'indice.
| Principales expositions  (% du total) |  |  | Statistiques sur le compa | rtiment |
| --- | --- | --- | --- | --- |
| Expositions à long terme (capitaux propres uniquement) |  |  | Valeur à risque (VAR) | -10.93% |
| Nom de l’émetteur |  |  | Ecart type (3 ans) | 14,99% |
| ALPHABET INC | 4,89 |  | Ratio de Sharpe (3 ans) | -0,63 |
| MARVELL TECHNOLOGY INC | 4,50 |  | Alpha (3 ans) | N/A |
| AMAZON.COM INC | 4,30 |  | Beta (3 ans) | N/A |
| HUBSPOT INC | 4,24 |  | R² (3 ans) | N/A |
| BLOCK INC | 3,91 |  | Corrélation (3 ans) | N/A |
| TRUPANION INC | 3,71 |  | % de recul maximal (3 ans) | -38,20% |
| NVIDIA CORP | 3,65 |  | Période de recul: N/A |  |
| ADVANCED MICRO DEVICES INC | 3,55 |  |  |  |
| CERIDIAN HCM HOLDING INC | 3,32 |  |  |  |
| ATLASSIAN CORP | 3,28 |  |  |  |

Adresse	Téléphone	Site Internet
14 boulevard de la Madeleine - 75008 Paris 01 40 73 86 00	www.franklintempleton.fr
Informations sur la part