# For Professional Client Use Only. Not for distribution to Retail Clients.
Base Currency for Fund	USD
Total Net Assets (USD)	1.15 billion
Fund Inception Date	15.09.2014
Benchmark		ICE BofA US 3-Month Treasury Bill Index, HFRX Global Hedge Fund Index
Investment Style	Alternative
Fund Domicile	Luxembourg
Fund Type	UCITS
Subscription	Daily
Redemption	Daily
Minimum Investment		USD 5,000 or the equivalent in the relevant share class currency
|  | USD | Discrete Annual Performan | ce in Share Class Cu | rrency | (%) |  |
| --- | --- | --- | --- | --- | --- | --- |
| EU SFDR Category | Article 8 |  | 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 |
| Summary of Investment Objective |  | A (Ydis) USD | -4.85 | 0.17 | 5.56  3.79 -2.12  5.99  7.22 -3.67	N/A | N/A |

Morningstar Category™	EAA Fund Multistrategy

## Past performance does not predict future returns.
Performance over 5 Years in Share Class Currency (%)
Franklin K2 Alternative Strategies Fund A (Ydis) USD	ICE BofA US 3-Month Treasury Bill Index HFRX Global Hedge Fund Index
120
100
80 01/18	07/18	01/19	07/19	01/20	07/20	01/21	07/21	01/22	07/22  01/23
| The Fund’s investment goal is to seek capital appreciation with lower volatility relative to the broad equity markets. The | ICE BofA US 3-Month Treasury Bill Index in USD | 1.78 | 0.04 | 0.54 | 2.22 | 1.95  0.93 | 0.37 | 0.05 | N/A | N/A |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund seeks to achieve its investment goal by allocating its | HFRX Global Hedge Fund Index in USD | -1.36 | 2.30 | 6.20 | 6.80 | -7.01  8.04 | 5.95 | -6.03 | N/A | N/A |
| assets across multiple non-traditional or "alternative" strategies. | ICE BofA US 3-Month Treasury Bill Index in EUR | 5.18 | 8.05 | -8.11 | 5.50 | 10.57 -12.24 | 0.74 | 4.32 | N/A | N/A |

| Fund Management |  | HFRX Global Hedge Fund Index in EUR | 1.94 | 10.50 | -2.94 | 10.22 | 0.84 | -6.06 | 6.34 | -2.02 | N/A | N/A |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Brooks Ritchey: United States	 Performance in Share Class Currency (%) Robert Christian: United States	Cumulative	Annualised |

Anthony M Zanolla, CFA: United States
Since
Since
| A (Ydis) USD | 1.40 | 0.87 | 1.40 | -4.85 | 0.61 | 15.82 | 0.20 | 1.77 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ICE BofA US 3-Month Treasury Bill Index in USD | 0.31 | 1.57 | 0.31 | 1.78 | 2.37 | 8.13 | 0.78 | 0.94 |
| HFRX Global Hedge Fund Index in | 1.67 | 1.81 | 1.67 | -1.36 | 7.17 | 11.49 | 2.33 | 1.31 |
| ICE BofA US 3-Month Treasury Bill Index in EUR | -1.24 | -4.51 | -1.24 | 5.18 | 4.43 | 28.67 | 1.46 | 3.05 |
| HFRX Global Hedge Fund Index in EUR | 0.10 | -4.28 | 0.10 | 1.94 | 9.33 | 32.66 | 3.02 | 3.43 |
| Category Average | 0.77 | 1.73 | 0.77 | 1.33 | 4.38 | 30.24 | 1.44 | 3.20 |
| Quartile | 2 | 3 | 2 | 4 | 3 | 3 | 3 | 3 |

| Strategy Allocation (% of Invested Capital) |
| --- |
|  | Target | Actual |
| Long Short Equity | 25-40 | 21.49 |
| Event Driven | 10-30 | 20.58 |
| Relative Value | 30-45 | 35.83 |
| Global Macro | 0-30 | 22.09 |

	1 Mth	6 Mths	YTD	1 Yr	3 Yrs	Incept	3 Yrs	Incept
USD
Portfolio Exposure (% of Total)
Gross Exposure	200.49
Net Exposure	57.67
Long Exposure	129.08
Short Exposure	-71.41
The fund’s returns may increase or decrease as a result of changes to foreign exchange rates.
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. All performance data shown is in the currency stated, include reinvested dividends and are net of management fees. Sales charges and other commissions, taxes and other relevant costs paid by the investor are not included in the calculations. The fund offers other share classes subject to different fees and expenses, which will affect their performance.
Please see Performance Benchmarks on the back of this page for important information on the benchmarks shown.
Top Exposures 
(% of Total)
Fund Measures
Long Exposures (Equity Only) Issuer Name (Equity)
COUPA SOFTWARE INC	1.06
DCP MIDSTREAM LLC	0.83
STORE CAPITAL CORP	0.79
ENERGY HARBOR CORP	0.73
SHAW COMMUNICATIONS INC	0.65
Short Exposures (Equity Only) Issuer Name (Equity)
PLUG POWER INC	-0.31
PAN AMERICAN SILVER CORP	-0.29
EAGLE BULK SHIPPING INC	-0.26
MSPSIWM	-0.24
COPA HOLDINGS SA	-0.23
Value at Risk (VaR)	-1.93%
Standard Deviation (5 Yrs)	5.37%
Sharpe Ratio (5 Yrs)	-0.16
Alpha (5 Yrs)	-2.55%
Beta (5 Yrs)	0.26
R-Squared (5 Yrs)	76.90%
Correlation (5 Yrs)	0.88
% Maximum Drawdown (5 Yrs)	-10.27%
Drawdown Period: 07/21-08/22
Share Class Information
Fees	Dividends	Fund Identifiers	
|  | Max. Annual | Last Paid |  |
| --- | --- | --- | --- |
| Share Class | Incept Date | NAV | TER (%)	Charge (%) | Frequency Last Paid Date	Amount | Bloomberg ID | ISIN |

 A (Ydis) USD	15.09.2014	USD 11.58	2.75		2.55		Ann	N/A	N/A	 FKAAYDU LX	LU1093756598 
The charges are the fees the fund charges to investors to cover the costs of running the Fund. Additional costs, including transaction fees, will also be incurred. These costs are paid out by the Fund, which will impact on the overall return of the Fund.
Fund charges will be incurred in multiple currencies, meaning that payments may increase or decrease as a result of currency exchange fluctuations.
| Tel | Fax | E-Mail | Web |
| --- | --- | --- | --- |
| +352 46 66 67 1 | +352 46 66 76 | lucs@franklintempleton.com | 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
USD

## La performance passée ne permet pas de prédire les rendements futurs.
Performance sur 5 ans en devise de la part (%)
Actif net total (USD)	1,15 milliards
Date de création	15.09.2014
Indice de référence		ICE BofA US 3-Month Treasury Bill Index, HFRX Global Hedge Fund Index
Domicile du fonds	Luxembourg Type de fonds		UCITS
Souscription	Quotidiennement
Rachat	Quotidiennement
Investissement minimum	5 000 USD ou l’équivalent
dans la devise de la part
concernée
| Date d'agrément AMF	10. | 10.2014 | Performances annuelles gl | issantes en devise d | e la pa | rt (%) |  |
| --- | --- | --- | --- | --- | --- | --- |
| Catégorie SFDR | Article 8 |  | 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 |
| Résumé des objectifs d'investissement |  | A (Ydis) USD | -4,85 | 0,17 | 5,56  3,79 -2,12  5,99  7,22 -3,67	N/A | N/A |

Catégorie Morningstar™	Multistratégie (USD)
Franklin K2 Alternative Strategies Fund A (Ydis) USD	ICE BofA US 3-Month Treasury Bill Index HFRX Global Hedge Fund Index
120
100
80 01/18	07/18	01/19	07/19	01/20	07/20	01/21	07/21	01/22	07/22  01/23
| L’objectif d’investissement du fonds est d’assurer la valorisation du capital et d’enregistrer une volatilité relative | ICE BofA US 3-Month Treasury Bill Index en	1,78 USD | 0,04 | 0,54 | 2,22 | 1,95 | 0,93 | 0,37 | 0,05 | N/A | N/A |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| moins importante que celles des grands marchés actions. | HFRX Global Hedge Fund Index en USD	-1,36 | 2,30 | 6,20 | 6,80 | -7,01 | 8,04 | 5,95 | -6,03 | N/A | N/A |
| Le fonds cherche à atteindre son objectif d’investissement en allouant ses actifs dans de très nombreuses stratégies | Performance en devise de la part (%) |  |  |  |  |  |  |  |  |  |
| de gestion non traditionnelles ou « alternatives ». | Cumulée |  |  |  |  |  |  |  |  |  |

Équipe de gestion
Brooks Ritchey: USA Robert Christian: USA
Allocation par stratégie (% du capital investi)
Anthony M Zanolla, CFA: USA
|  | 1 mois | 3 mois | YTD | 1 an | 3 ans | 5 ans | Depuis création |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A (Ydis) USD | 1,40 | 2,57 | 1,40 | -4,85 | 0,61 | 2,21 | 15,82 |
| ICE BofA US 3-Month Treasury Bill Index en USD | 0,31 | 1,00 | 0,31 | 1,78 | 2,37 | 6,68 | 8,13 |
| HFRX Global Hedge Fund Index en USD | 1,67 | 1,76 | 1,67 | -1,36 | 7,17 | 6,42 | 11,49 |

Objectif	Réel
| Long Short Equity | 25-40 | 21,49 |  |  | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Event Driven | 10-30 | 20,58 |  | A (Ydis) USD | -8,20 | 1,97 | 6,00 | 6,38 | -2,96 | 5,59 | 2,93 | -0,48 |
| Valeur Relative | 30-45 | 35,83 |  | ICE BofA US 3-Month Treasury Bill | 1,46 | 0,05 | 0,67 | 2,28 | 1,87 | 0,86 | 0,33 | 0,05 |
| Global Macro | 0-30 | 22,09 |  | Index en USD |  |  |  |  |  |  |  |  |
|  |  |  |  | HFRX Global Hedge Fund Index en | -4,41 | 3,65 | 6,81 | 8,62 | -6,72 | 5,99 | 2,50 | -3,64 |

Exposition Brute	200,49
Exposition Nette	57,67
Position acheteuse	129,08
Position vendeuse	-71,41
USD
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.
Consultez « Indices de performance » au recto de cette page pour prendre connaissance d’informations importantes sur les indices présentés.
| Principales expositions  (% du total) |  |  | Statistiques sur le compart | iment |
| --- | --- | --- | --- | --- |
| Expositions à long terme (capitaux propres uniquement) |  |  | Valeur à risque (VAR) | -1.93% |
| Nom de l’émetteur (Actions) |  |  | Ecart type (5 ans) | 5,37% |
| COUPA SOFTWARE INC | 1,06 |  | Ratio de Sharpe (5 ans) | -0,16 |
| DCP MIDSTREAM LLC | 0,83 |  | Alpha (5 ans) | -2,55% |
| STORE CAPITAL CORP | 0,79 |  | Beta (5 ans) | 0,26 |
| ENERGY HARBOR CORP | 0,73 |  | R² (5 ans) | 76,90% |
| SHAW COMMUNICATIONS INC | 0,65 |  | Corrélation (5 ans) | 0,88 |
| Expositions à court terme (capitaux propres uniquement) Nom de l’émetteur (Actions) |  |  | % de recul maximal (5 ans) Période de recul: 07/21-08/22 | -10,27% |
| PLUG POWER INC | -0,31 |  |
| PAN AMERICAN SILVER CORP | -0,29 |
| EAGLE BULK SHIPPING INC | -0,26 |
| MSPSIWM | -0,24 |
| COPA HOLDINGS SA | -0,23 |

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