# For Professional Client Use Only. Not for distribution to Retail Clients.
Composition of Fund
Franklin Euro High Yield Fund ICE BofA Euro High Yield Constrained Index
Geographic (Market Value)	
% of Total
Sector (Market Value)	
% of Total
| United States | 19.99 | / | 9.66 |  | Finance | 22.72 | / | 18.09 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Spain | 15.68 | / | 9.85 |  | Health Care | 7.00 | / | 7.12 |
| Italy | 13.96 | / | 15.46 |  | Wireless | 6.59 | / | 7.83 |
| France | 13.16 | / | 16.26 |  | Industrial | 5.91 | / | 5.29 |
| United Kingdom | 5.10 | / | 5.83 |  | Transportation | 5.71 | / | 4.57 |
| Germany | 4.38 | / | 12.06 |  | Automotive | 5.52 | / | 9.88 |
| Luxembourg | 4.08 | / | 4.34 |  | Chemicals | 5.20 | / | 3.33 |
| Switzerland | 4.04 | / | 1.23 |  | Building | 4.21 | / | 1.14 |
| Greece | 3.38 | / | 2.62 |  | Consumer Products | 4.11 | / | 0.92 |
| Others | 11.36 | / | 22.70 |  | Others | 28.19 | / | 41.83 |
| Cash & Cash Equivalents | 4.86 | / | 0.00 |  | Cash & Cash Equivalents | 4.86 | / | 0.00 |
| Currency (Notional Exposure) Euro | % of Total 100.03 / 100.00 |  | Credit Quality (Market Value) A- | 0.36 | % of / | Total 0.00 |
| U.S. Dollar | 0.11 /  0.00 |  | BBB | 3.70 | / | 0.00 |
| British Pound | -0.13 /  0.00 |  | BBB- | 2.40 | / | 0.00 |

BB+	11.23 / 31.02
| Duration (Notional Exposure) |  | % of Total |  | BB | 11.21 | / | 23.81 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 0 to 1 Year | 11.69 | /  6.25 |  | BB- | 15.68 | / | 12.43 |
| 1 to 2 Years | 12.27 | / 21.73 |  | B+ | 13.11 | / | 10.14 |
| 2 to 3 Years | 17.33 | / 23.93 |  | B | 24.74 | / | 12.21 |
| 3 to 5 Years | 47.18 | / 37.78 |  | B- | 6.50 | / | 4.11 |
| 5 to 7 Years | 10.44 | /  8.51 |  | CCC+ | 0.91 | / | 4.10 |
| 7 to 10 Years | 1.08 | /  1.66 |  | CCC | 4.20 | / | 1.50 |
| N/A | 0.00 | /  0.14 |  | CCC- | 0.00 | / | 0.17 |
|  | CC+ | 0.00 | / | 0.45 |
| C | 0.00 | / | 0.06 |
| Not Rated | 1.09 | / | 0.00 |
| Not Applicable | 0.01 | / | 0.00 |
| Cash & Cash Equivalents | 4.86 | / | 0.00 |

Maturity (Market Value)	
% of Total
0 to 1 Year	8.29 /  3.15
1 to 2 Years	8.48 / 16.86
2 to 3 Years	10.72 / 20.53
3 to 5 Years	41.92 / 37.46
5 to 7 Years	27.63 / 18.02
7 to 10 Years	2.96 /  3.10
10 to 15 Years	0.00 /  0.25
30+ Years	0.00 /  0.62
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 through certain 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 (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.
What Are the Key Risks?
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 mainly in lower-quality debt securities denominated in euro. Such securities have historically been subject to price movements, generally due to interest rates or movements in the bond market in general. As a result, the performance of the Fund can fluctuate over time. The Fund may distribute income gross of expenses. Whilst this might allow more income to be distributed, it may also have the effect of reducing capital. Other significant risks include: credit risk, derivative instruments risk, liquidity 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 Investment Funds.
Important Information
This fund has been classified as Article 8 under the Regulation on sustainability related disclosures in the financial services sector (EU) 2019/2088. These are Funds which have an ESG integration approach and, in addition, have binding environmental and/or social characteristics in their investment process.
Further information in relation to the sustainability-related aspects of the Fund can be found at www.franklinresources.com/countries. Please review all of the fund's objectives and characteristics before investing.
Issued by Franklin Templeton International Services, S.à r.l. Franklin Templeton Investment 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, Arabic, Czech, Danish, Dutch, Estonian, Finnish, French, German, Greek, Hungarian, Icelandic, Italian, Latvian, Lithuanian, Norwegian, Polish, Portuguese, Romanian, Slovak, Slovenian, Spanish and Swedish 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-funds of FTIF are notified for marketing in multiple EU Member States under the UCITS Directive. FTIF 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.
The index data referenced herein is the property of Intercontinental Exchange (“ICE”) and/or its licensors and has been licensed for use by Franklin Templeton. ICE and its licensors accept no liability in connection with this use. See www.franklintempletondatasources.com for a full copy of the Disclaimer.
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 5 ans en devise de la part (%)
Actif net total (EUR)	256 millions
Date de création	17.04.2000
Nombre de positions	140
Indice de référence	ICE BofA Euro High Yield Constrained Index
Catégorie Morningstar™	Obligations High Yield EUR
Franklin Euro High Yield Fund I (Ydis) EUR	ICE BofA Euro High Yield Constrained Index
120
100
Rendement distribué – I (Ydis) EUR
2,28%
Date d'agrément AMF	16.06.2000
Catégorie SFDR	Article 8
|  |
| --- |
| Résumé des objectifs d'investissement	 80 01/18	07/18	01/19	07/19	01/20	07/20	01/21	07/21	01/22	07/22  01/23 Le compartiment cherche à obtenir un revenu courant élevé	 Performances annuelles glissantes en devise de la part (%) |
| en investissant principalement, soit directement, soit par le |  |  | 01/22 | 01/21 | 01/20 | 01/19 | 01/18 | 01/17 | 01/16 | 01/15 | 01/14 | 01/13 |
| biais d'instruments financiers dérivés, dans des obligations |  |  | 01/23 | 01/22 | 01/21 | 01/20 | 01/19 | 01/18 | 01/17 | 01/16 | 01/15 | 01/14 |
| d'émetteurs européens ou non européens. |  | I (Ydis) EUR | -5,34 | 0,33 | 2,00 | 7,33 | -1,49 | 5,33 | 8,98 | -1,32 | 4,83 | 8,35 |
| Équipe de gestion |  | Indice de référence en EUR | -7,22 | 1,34 | 2,93 | 8,99 | -1,79 | 6,36 | 11,19 | -1,37 | 5,71 | 10,43 |

Patricia O'Connor, CFA: USA Piero del Monte: Royaume-Uni Rod MacPhee, CFA: Royaume-Uni Emmanuel Teissier: Royaume-Uni
Performance en devise de la part (%)
Cumulée
Depuis
Notations - I (Ydis) EUR	
Notation Morningstar: 
Allocation d’actifs (valeur de marché)
%
	1 mois	3 mois	YTD	1 an	3 ans	5 ans	10 ans  création
| I (Ydis) EUR | 3,21 | 7,60 | 3,21 | -5,34 | -3,13 | 2,43 | 31,79	94,83 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Indice de référence en EUR | 3,21 | 6,26 | 3,21 | -7,22 | -3,22 | 3,59 | 41,05	154,63 |
| Performance par année civile en devise de la part (%)	 |
|  | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016	2015 | 2014 | 2013 |
| I (Ydis) EUR | -9,69 | 2,33 | 1,78 | 9,23 | -3,31 | 5,66 | 7,16	1,16 | 4,09 | 8,03 |
| Indice de | -11,47 | 3,35 | 2,73 | 11,24 | -3,60 | 6,72 | 9,10	0,73 | 5,34 | 10,05 |
| référence en EUR |  |  |  |  |  |  |  |  |  |

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 compar | iment |
| --- | --- |
| Notation de crédit moyenne | BB- |
| Duration moyenne | 3,25 ans |
| Echéance moyenne pondérée | 3,91 ans |
| Rendement à échéance | 7,09% |
| Ecart type (5 ans) | 8,56% |
| Ratio de Sharpe (5 ans) | 0,11 |
| Ecart de suivi (5 ans) | 1,39% |
| Ratio d'information (5 ans) | -0,16 |
| Beta (5 ans) | 0,91 |

t
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 |

 I (Ydis) EUR	26.09.2005	8,35 EUR	0,87 	N/A	0,60	  annuelle	08.07.2022	0,1900	 TEMHYID LX LU0229041164
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