# EDGAR Filing Document

**Accession Number:** 0001124459
**File Stem:** 0001133228-25-010205
**Filing Date:** 2025-9
**Character Count:** 251387
**Document Hash:** 57fdafb818bcd69d9fb97162e81ec4db
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-25-010205.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001133228-25-010205

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**EFFECTIVENESS DATE**: 20250926

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Global Trust
- **CENTRAL INDEX KEY:** 0001124459

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10157
- **FILM NUMBER:** 251349536

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN GLOBAL TRUST
- **DATE OF NAME CHANGE:** 20000922

## Series and Classes Contracts Data

### Franklin Emerging Market Debt Opportunities Fund (Series ID: S000012347)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000033574 | Franklin Emerging Market Debt Opportunities Fund | FEMDX           |

### Franklin International Growth Fund (Series ID: S000022425)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000064524 | Class A       | FNGAX           |
| C000067641 | Class C       | FNGDX           |
| C000067642 | Class R       | FNGRX           |
| C000067643 | Advisor Class | FNGZX           |
| C000128792 | Class R6      | FILRX           |

?xml version='1.0' encoding='ASCII'? 2025-08-1974200005700_FranklinInternationalGrowthFund_ClassA_TSRAnnual

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number **811-10157**

**Franklin Global Trust**

(Exact name of registrant as specified in charter)

**One Franklin Parkway, San Mateo, CA 94403-1906**

(Address of principal executive offices) (Zip code)

Alison Baur

Franklin Templeton

One Franklin Parkway

San Mateo, CA 94403-1906

(Name and address of agent for service)

Registrant's telephone number, including area code: **(650) 312-2000**

Date of fiscal year end: **July 31**

Date of reporting period: **July 31, 2025**

ITEM 1. REPORT TO STOCKHOLDERS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is filed herewith

---

| | |
|:---|:---|
| **Franklin International Growth Fund**  | ![image](img2199_202405220716489.jpg) |
| Class A [FNGAX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| July 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Franklin International Growth Fund for the period August 1, 2024, to July 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class A | $114 | 1.11% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended July 31, 2025, Class A shares of Franklin International Growth Fund returned 5.28%. The Fund compares its performance to the MSCI EAFE Index-NR, which returned 12.77% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Canada-based e-commerce infrastructure provider Shopify boosted returns as its results underlined the company's continued momentum internationally and moving upmarket, as well as allaying previous fears that it would be impacted by weaker consumer spending. |
| ↑ | CyberArk Software, an Israel-based provider of identity security software solutions, performed strongly after delivering impressive growth that reflected robust demand for its products. Towards the end of the period, the company agreed to a takeover bid from fellow cybersecurity firm Palo Alto Networks. |
| ↑ | Shares in Germany-based MTU Aero Engines rose after it delivered significant increases in sales and earnings during the period, with particularly strong growth in its commercial aircraft business. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | German apparel and footwear manufacturer PUMA detracted after struggling to execute on the strategy outlined early in 2024, as it grappled with weaker consumer spending, tariff uncertainty and slowing growth in Latin America, where its profit margins are relatively high. |
| ↓ | Daiichi Sankyo, a Japanese drugmaker, weighed on returns amid disappointment that the company had not increased its earnings guidance despite several new drug approvals. Uncertainty around the path forward for the company's lung cancer drug Dato-DXd was a further headwind. |
| ↓ | U.K.-based industrial and electronics components and products distributor RS Group had a negative impact mainly due to concerns about a weak industrial backdrop, especially in Europe, and the uncertain timing of a potential inflection point in the current destocking cycle. |

---

Franklin International Growth Fund PAGE 1 429-ATSR-0925

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT ($** **9,450 AFTER MAXIMUM APPLICABLE SALES CHARGE) –**

**Class A** 7/31/2015 — 7/31/2025

![image](ts4788img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended July 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class A**  | 5.28 | 1.24 | 6.16 |
| **Class A (with sales charge)**  | -0.52 | 0.10 | 5.56 |
| **MSCI All Country World ex-U.S. Index-NR**  | 14.73 | 9.11 | 6.12 |
| **MSCI EAFE Index-NR**  | 12.77 | 10.34 | 6.14 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

Performance for periods prior to September 10, 2018, has been restated to reflect the current maximum sales charge, which is lower than the maximum sales charge prior to that date.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of July 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $859600752 |
| **Total Number of Portfolio Holdings**<sup>\*</sup>  | 36 |
| **Total Management Fee Paid** | $6021460 |
| **Portfolio Turnover Rate** | 25.70% |

---

\* Does not include derivatives, except purchased options, if any.

Franklin International Growth Fund PAGE 2 429-ATSR-0925

------

**WHAT DID THE FUND INVEST IN?** (as of July 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts4788img004.jpg)

\* Does not include derivatives, except purchased options, if any.

**HOW HAS THE FUND CHANGED?**

On December 1, 2024, disclosure was added to the Fund's principal investment strategies to reflect the Fund's increased exposure to securities in the industrials sector.

Related disclosure regarding the risks of investing in securities in the industrials sector was also added to the Fund's principal risks.

In addition, effective June 30, 2025, John Remmert stepped down as a portfolio manager of the Fund and Samantha Mathews was added as a portfolio manager of the Fund.

This is a summary of certain changes to the Fund since August 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by December 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or

prospectus.us.franklintempleton@fisglobal.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Franklin International Growth Fund PAGE 3 429-ATSR-0925

9450937511222132121286516148205051431515391163151717710000944611241119091163811715149691268414386157881811410000924710890115871128611097144601239014471160931814854.821.87.15.65.43.51.8 ------

---

| | |
|:---|:---|
| **Franklin International Growth Fund**  | ![image](img2199_202405220716489.jpg) |
| Class C [FNGDX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| July 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Franklin International Growth Fund for the period August 1, 2024, to July 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class C | $190 | 1.86% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended July 31, 2025, Class C shares of Franklin International Growth Fund returned 4.48%. The Fund compares its performance to the MSCI EAFE Index-NR, which returned 12.77% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Canada-based e-commerce infrastructure provider Shopify boosted returns as its results underlined the company's continued momentum internationally and moving upmarket, as well as allaying previous fears that it would be impacted by weaker consumer spending. |
| ↑ | CyberArk Software, an Israel-based provider of identity security software solutions, performed strongly after delivering impressive growth that reflected robust demand for its products. Towards the end of the period, the company agreed to a takeover bid from fellow cybersecurity firm Palo Alto Networks. |
| ↑ | Shares in Germany-based MTU Aero Engines rose after it delivered significant increases in sales and earnings during the period, with particularly strong growth in its commercial aircraft business. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | German apparel and footwear manufacturer PUMA detracted after struggling to execute on the strategy outlined early in 2024, as it grappled with weaker consumer spending, tariff uncertainty and slowing growth in Latin America, where its profit margins are relatively high. |
| ↓ | Daiichi Sankyo, a Japanese drugmaker, weighed on returns amid disappointment that the company had not increased its earnings guidance despite several new drug approvals. Uncertainty around the path forward for the company's lung cancer drug Dato-DXd was a further headwind. |
| ↓ | U.K.-based industrial and electronics components and products distributor RS Group had a negative impact mainly due to concerns about a weak industrial backdrop, especially in Europe, and the uncertain timing of a potential inflection point in the current destocking cycle. |

---

Franklin International Growth Fund PAGE 1 248-ATSR-0925

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class C** 7/31/2015 — 7/31/2025

![image](ts4789img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended July 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class C**  | 4.48 | 0.48 | 5.36 |
| **Class C (with sales charge)**  | 3.48 | 0.48 | 5.36 |
| **MSCI All Country World ex-U.S. Index-NR**  | 14.73 | 9.11 | 6.12 |
| **MSCI EAFE Index-NR**  | 12.77 | 10.34 | 6.14 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of July 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $859600752 |
| **Total Number of Portfolio Holdings**<sup>\*</sup>  | 36 |
| **Total Management Fee Paid** | $6021460 |
| **Portfolio Turnover Rate** | 25.70% |

---

\* Does not include derivatives, except purchased options, if any.

Franklin International Growth Fund PAGE 2 248-ATSR-0925

------

**WHAT DID THE FUND INVEST IN?** (as of July 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts4789img004.jpg)

\* Does not include derivatives, except purchased options, if any.

**HOW HAS THE FUND CHANGED?**

On December 1, 2024, disclosure was added to the Fund's principal investment strategies to reflect the Fund's increased exposure to securities in the industrials sector.

Related disclosure regarding the risks of investing in securities in the industrials sector was also added to the Fund's principal risks.

In addition, effective June 30, 2025, John Remmert stepped down as a portfolio manager of the Fund and Samantha Mathews was added as a portfolio manager of the Fund.

This is a summary of certain changes to the Fund since August 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by December 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or

prospectus.us.franklintempleton@fisglobal.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Franklin International Growth Fund PAGE 3 248-ATSR-0925

10000984511700136621320516457207421436715336161321685510000944611241119091163811715149691268414386157881811410000924710890115871128611097144601239014471160931814854.821.87.15.65.43.51.8 ------

---

| | |
|:---|:---|
| **Franklin International Growth Fund**  | ![image](img2199_202405220716489.jpg) |
| Class R [FNGRX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| July 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Franklin International Growth Fund for the period August 1, 2024, to July 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class R | $139 | 1.36% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended July 31, 2025, Class R shares of Franklin International Growth Fund returned 5.04%. The Fund compares its performance to the MSCI EAFE Index-NR, which returned 12.77% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Canada-based e-commerce infrastructure provider Shopify boosted returns as its results underlined the company's continued momentum internationally and moving upmarket, as well as allaying previous fears that it would be impacted by weaker consumer spending. |
| ↑ | CyberArk Software, an Israel-based provider of identity security software solutions, performed strongly after delivering impressive growth that reflected robust demand for its products. Towards the end of the period, the company agreed to a takeover bid from fellow cybersecurity firm Palo Alto Networks. |
| ↑ | Shares in Germany-based MTU Aero Engines rose after it delivered significant increases in sales and earnings during the period, with particularly strong growth in its commercial aircraft business. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | German apparel and footwear manufacturer PUMA detracted after struggling to execute on the strategy outlined early in 2024, as it grappled with weaker consumer spending, tariff uncertainty and slowing growth in Latin America, where its profit margins are relatively high. |
| ↓ | Daiichi Sankyo, a Japanese drugmaker, weighed on returns amid disappointment that the company had not increased its earnings guidance despite several new drug approvals. Uncertainty around the path forward for the company's lung cancer drug Dato-DXd was a further headwind. |
| ↓ | U.K.-based industrial and electronics components and products distributor RS Group had a negative impact mainly due to concerns about a weak industrial backdrop, especially in Europe, and the uncertain timing of a potential inflection point in the current destocking cycle. |

---

Franklin International Growth Fund PAGE 1 868-ATSR-0925

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class R** 7/31/2015 — 7/31/2025

![image](ts4791img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended July 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class R**  | 5.04 | 0.99 | 5.89 |
| **MSCI All Country World ex-U.S. Index-NR**  | 14.73 | 9.11 | 6.12 |
| **MSCI EAFE Index-NR**  | 12.77 | 10.34 | 6.14 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of July 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $859600752 |
| **Total Number of Portfolio Holdings**<sup>\*</sup>  | 36 |
| **Total Management Fee Paid** | $6021460 |
| **Portfolio Turnover Rate** | 25.70% |

---

\* Does not include derivatives, except purchased options, if any.

**WHAT DID THE FUND INVEST IN?** (as of July 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts4791img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Franklin International Growth Fund PAGE 2 868-ATSR-0925

------

**HOW HAS THE FUND CHANGED?**

On December 1, 2024, disclosure was added to the Fund's principal investment strategies to reflect the Fund's increased exposure to securities in the industrials sector.

Related disclosure regarding the risks of investing in securities in the industrials sector was also added to the Fund's principal risks.

In addition, effective June 30, 2025, John Remmert stepped down as a portfolio manager of the Fund and Samantha Mathews was added as a portfolio manager of the Fund.

This is a summary of certain changes to the Fund since August 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by December 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or

prospectus.us.franklintempleton@fisglobal.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Franklin International Growth Fund PAGE 3 868-ATSR-0925

10000989011823138731347316873213781488415961168781772810000944611241119091163811715149691268414386157881811410000924710890115871128611097144601239014471160931814854.821.87.15.65.43.51.8 ------

---

| | |
|:---|:---|
| **Franklin International Growth Fund**  | ![image](img2199_202405220716489.jpg) |
| Class R6 [FILRX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| July 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Franklin International Growth Fund for the period August 1, 2024, to July 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class R6 | $77 | 0.75% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended July 31, 2025, Class R6 shares of Franklin International Growth Fund returned 5.68%. The Fund compares its performance to the MSCI EAFE Index-NR, which returned 12.77% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Canada-based e-commerce infrastructure provider Shopify boosted returns as its results underlined the company's continued momentum internationally and moving upmarket, as well as allaying previous fears that it would be impacted by weaker consumer spending. |
| ↑ | CyberArk Software, an Israel-based provider of identity security software solutions, performed strongly after delivering impressive growth that reflected robust demand for its products. Towards the end of the period, the company agreed to a takeover bid from fellow cybersecurity firm Palo Alto Networks. |
| ↑ | Shares in Germany-based MTU Aero Engines rose after it delivered significant increases in sales and earnings during the period, with particularly strong growth in its commercial aircraft business. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | German apparel and footwear manufacturer PUMA detracted after struggling to execute on the strategy outlined early in 2024, as it grappled with weaker consumer spending, tariff uncertainty and slowing growth in Latin America, where its profit margins are relatively high. |
| ↓ | Daiichi Sankyo, a Japanese drugmaker, weighed on returns amid disappointment that the company had not increased its earnings guidance despite several new drug approvals. Uncertainty around the path forward for the company's lung cancer drug Dato-DXd was a further headwind. |
| ↓ | U.K.-based industrial and electronics components and products distributor RS Group had a negative impact mainly due to concerns about a weak industrial backdrop, especially in Europe, and the uncertain timing of a potential inflection point in the current destocking cycle. |

---

Franklin International Growth Fund PAGE 1 368-ATSR-0925

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class R6** 7/31/2015 — 7/31/2025

![image](ts4790img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended July 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class R6**  | 5.68 | 1.61 | 6.57 |
| **MSCI All Country World ex-U.S. Index-NR**  | 14.73 | 9.11 | 6.12 |
| **MSCI EAFE Index-NR**  | 12.77 | 10.34 | 6.14 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of July 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $859600752 |
| **Total Number of Portfolio Holdings**<sup>\*</sup>  | 36 |
| **Total Management Fee Paid** | $6021460 |
| **Portfolio Turnover Rate** | 25.70% |

---

\* Does not include derivatives, except purchased options, if any.

**WHAT DID THE FUND INVEST IN?** (as of July 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts4790img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Franklin International Growth Fund PAGE 2 368-ATSR-0925

------

**HOW HAS THE FUND CHANGED?**

On December 1, 2024, disclosure was added to the Fund's principal investment strategies to reflect the Fund's increased exposure to securities in the industrials sector.

Related disclosure regarding the risks of investing in securities in the industrials sector was also added to the Fund's principal risks.

In addition, effective June 30, 2025, John Remmert stepped down as a portfolio manager of the Fund and Samantha Mathews was added as a portfolio manager of the Fund.

This is a summary of certain changes to the Fund since August 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by December 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or

prospectus.us.franklintempleton@fisglobal.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Franklin International Growth Fund PAGE 3 368-ATSR-0925

10000996111979141531383417442222271557416806178741888910000944611241119091163811715149691268414386157881811410000924710890115871128611097144601239014471160931814854.821.87.15.65.43.51.8 ------

---

| | |
|:---|:---|
| **Franklin International Growth Fund**  | ![image](img2199_202405220716489.jpg) |
| Advisor Class [FNGZX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| July 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Franklin International Growth Fund for the period August 1, 2024, to July 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Advisor Class | $88 | 0.86% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended July 31, 2025, Advisor Class shares of Franklin International Growth Fund returned 5.59%. The Fund compares its performance to the MSCI EAFE Index-NR, which returned 12.77% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Canada-based e-commerce infrastructure provider Shopify boosted returns as its results underlined the company's continued momentum internationally and moving upmarket, as well as allaying previous fears that it would be impacted by weaker consumer spending. |
| ↑ | CyberArk Software, an Israel-based provider of identity security software solutions, performed strongly after delivering impressive growth that reflected robust demand for its products. Towards the end of the period, the company agreed to a takeover bid from fellow cybersecurity firm Palo Alto Networks. |
| ↑ | Shares in Germany-based MTU Aero Engines rose after it delivered significant increases in sales and earnings during the period, with particularly strong growth in its commercial aircraft business. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | German apparel and footwear manufacturer PUMA detracted after struggling to execute on the strategy outlined early in 2024, as it grappled with weaker consumer spending, tariff uncertainty and slowing growth in Latin America, where its profit margins are relatively high. |
| ↓ | Daiichi Sankyo, a Japanese drugmaker, weighed on returns amid disappointment that the company had not increased its earnings guidance despite several new drug approvals. Uncertainty around the path forward for the company's lung cancer drug Dato-DXd was a further headwind. |
| ↓ | U.K.-based industrial and electronics components and products distributor RS Group had a negative impact mainly due to concerns about a weak industrial backdrop, especially in Europe, and the uncertain timing of a potential inflection point in the current destocking cycle. |

---

Franklin International Growth Fund PAGE 1 649-ATSR-0925

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Advisor Class** 7/31/2015 — 7/31/2025

![image](ts4787img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended July 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Advisor Class**  | 5.59 | 1.50 | 6.41 |
| **MSCI All Country World ex-U.S. Index-NR**  | 14.73 | 9.11 | 6.12 |
| **MSCI EAFE Index-NR**  | 12.77 | 10.34 | 6.14 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of July 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $859600752 |
| **Total Number of Portfolio Holdings**<sup>\*</sup>  | 36 |
| **Total Management Fee Paid** | $6021460 |
| **Portfolio Turnover Rate** | 25.70% |

---

\* Does not include derivatives, except purchased options, if any.

**WHAT DID THE FUND INVEST IN?** (as of July 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts4787img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Franklin International Growth Fund PAGE 2 649-ATSR-0925

------

**HOW HAS THE FUND CHANGED?**

On December 1, 2024, disclosure was added to the Fund's principal investment strategies to reflect the Fund's increased exposure to securities in the industrials sector.

Related disclosure regarding the risks of investing in securities in the industrials sector was also added to the Fund's principal risks.

In addition, effective June 30, 2025, John Remmert stepped down as a portfolio manager of the Fund and Samantha Mathews was added as a portfolio manager of the Fund.

This is a summary of certain changes to the Fund since August 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by December 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or

prospectus.us.franklintempleton@fisglobal.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Franklin International Growth Fund PAGE 3 649-ATSR-0925

10000993811929140741373017285220061539616597176351862110000944611241119091163811715149691268414386157881811410000924710890115871128611097144601239014471160931814854.821.87.15.65.43.51.8 ------

---

| | |
|:---|:---|
| **Franklin Emerging Market Debt Opportunities Fund**  | ![image](img2199_202405220716489.jpg) |
| Advisor Class [FEMDX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| July 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Franklin Emerging Market Debt Opportunities Fund for the period August 1, 2024, to July 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 321-8563.

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Advisor Class | $106 | 1.00% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended July 31, 2025, Advisor Class shares of Franklin Emerging Market Debt Opportunities Fund returned 11.88%. The Fund compares its performance to the JP Morgan EMBI Global Diversified Index, the JP Morgan EMBI Global Diversified ex-GCC Index, the JP Morgan GBI-EM Broad Diversified Index and the ICE BofA Emerging Market Corporate Plus (USD Hedged) Index, which returned 9.32%, 10.15%, 10.44% and 7.15%, respectively, for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Allocation to Ukraine U.S. dollar bonds, which outperformed due to the successful conclusion of debt restructuring negotiations for Ukraine's outstanding Eurobonds, as well as increased optimism about an end to the war, following the U.S. presidential election. |
| ↑ | Allocation to El Salvador U.S. dollar bonds, which performed strongly due to debt management exercises and fiscal consolidation, resulting in an International Monetary Fund program. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | Exposure to the Kazakhstani tenge, which depreciated on looser fiscal policy and a deteriorating inflation outlook. |
| ↓ | Exposure to the Turkish lira, which weakened on heightened political risk that prompted emergency central bank tightening measures. |

---

Franklin Emerging Market Debt Opportunities Fund PAGE 1 699-ATSR-0925

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **50,000 INVESTMENT –** **Advisor Class** 7/31/2015 — 7/31/2025

![image](ts4798img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended July 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Advisor Class**  | 11.88 | 7.44 | 5.79 |
| **Bloomberg Global Aggregate Index**  | 4.40 | -2.07 | 1.00 |
| **JP Morgan EMBI Global Diversified Index**  | 9.32 | 1.31 | 3.61 |
| **JP Morgan EMBI Global Diversified ex-GCC Index**<sup>†</sup>  | 10.15 | 1.31 | N/A |
| **JP Morgan GBI-EM Broad Diversified Index**  | 10.44 | 1.95 | 2.83 |
| **ICE BofA Emerging Market Corporate Plus (USD Hedged)** **Index**  | 7.15 | 1.30 | 3.44 |

---

† Due
 to data availability, performance for the JPM EMBI Global Diversified ex-GCC Index is shown starting 12/31/15 using the Fund's
 value on that date. Values prior
 to 12/31/2015 reflect the performance of the Fund.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) 321-8563 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of July 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $106536735 |
| **Total Number of Portfolio Holdings**<sup>\*</sup>  | 128 |
| **Total Management Fee Paid** | $583895 |
| **Portfolio Turnover Rate** | 39.41% |

---

\* Does not include derivatives, except purchased options, if any.

Franklin Emerging Market Debt Opportunities Fund PAGE 2 699-ATSR-0925

------

**WHAT DID THE FUND INVEST IN?** (as of July 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts4798img004.jpg)

\* Does not include derivatives, except purchased options, if any.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 321-8563. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Franklin Emerging Market Debt Opportunities Fund PAGE 3 699-ATSR-0925

5000053206582056055665426615787095459945692447878487805500005472454025537645684461304617855277551347528875521550000556085841158453648706679869543561385971265196712735000054249570145706563319643346717252573566396234668672500005242956645553396007760008624535249859413598366608050000536175635456591620516574968639581896011065448701305.44.94.64.53.73.63.33.23.23.03.02.72.42.42.42.32.32.22.231.27.5 ------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

ITEM 2. CODE OF ETHICS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant has adopted a code of ethics that applies to its principal executive officers and principal financial and accounting officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) N/A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) N/A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Pursuant to Item 19(a) (1), the Registrant is attaching as an exhibit a copy of its code of ethics that applies to its principal executive officers and principal financial and accounting officer.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

The Board of Trustees of the Registrant has determined that Mary C. Choksi, possesses the technical attributes identified in Item 3 to Form N-CSR to qualify as an "audit committee financial expert," and has designated Mary C. Choksi as the Audit Committee's financial expert. Mary C. Choksi is an "independent" Trustee pursuant to paragraph (a)(2) of Item 3 to Form N-CSR.

Under applicable securities laws, a person determined to be an audit committee financial expert will not be deemed an "expert" for any purpose, including without limitation for the purposes of Section 11 of the Securities Act of 1933, as a result of being designated or identified as an audit committee financial expert. The designation or identification of a person as an audit committee financial expert does not impose on such person any duties, obligations, or liabilities greater than the duties, obligations, and liabilities imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification. The designation or identification of a person as an audit committee financial expert does not affect the duties, obligations, or liability of any other member of the audit committee or board of directors.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Audit Fees</u>. The aggregate fees billed in the last two fiscal years ending July 31, 2024 and July 31, 2025 (the "Reporting Periods") for professional services rendered by the Registrant's principal accountant (the "Auditor") for the audit of the Registrant's annual financial statements, or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $115,550 in July 31, 2024 and $135,594 in July 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Audit-Related Fees</u>. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the Registrant's financial statements were $0 in July 31, 2024 and $0 in July 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Tax Fees</u>. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice and tax planning ("Tax Services") were $0 in July 31, 2024 and $20,750 in July 31, 2025. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held or proposed to be acquired or held.

The aggregate fees billed for tax services by the Auditors to the Registrant's investment manager and any entity controlling, controlled by, or under common control with the

investment manager that provides ongoing services to the Registrant ("Service Affiliates") during the Reporting Periods that required pre-approval by the Audit Committee were $140,000 in July 31, 2024 and $0 in July 31, 2025. The services for which these fees were paid included global access to tax platform International Tax View.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>All Other Fees</u>. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor to the Registrant, other than the services reported in paragraphs (a) through (c) of this item, were $0 in July 31, 2024 and $0 in July 31, 2025.

The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor to the Service Affiliates, other than the services reported in paragraphs (a) through (c) of this item, were $197,871 in July 31, 2024 and $0 in July 31, 2025. The services for which these fees were paid included professional fees in connection with SOC 1 reports.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Audit Committee's pre-approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Registrant's Audit Committee is directly responsible for approving the services to be provided by the Auditors, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) pre-approval of all audit and audit related services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) pre-approval of all non-audit related services to be provided to the Registrant by the Auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) pre-approval of all non-audit related services to be provided by the Auditors to the Registrant and the Service Affiliates where the non-audit services relate directly to the operations or financial reporting of the Registrant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) establishment by the Audit Committee, if deemed necessary or appropriate, as an alternative to committee pre-approval of services to be provided by the Auditors, as required by paragraphs (ii) and (iii) above, of policies and procedures to permit such services to be pre-approved by other means, such as through establishment of guidelines or by action of a designated member or members of the committee; provided the policies and procedures are detailed as to the particular service and the committee is informed of each service and such policies and procedures do not include delegation of Audit Committee responsibilities, as contemplated under the Securities Exchange Act of 1934, to management; subject, in the case of (ii) through (iv), to any waivers, exceptions or exemptions that may be available under applicable law or rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) None of the services described in paragraphs (b) through (d) of this Item were performed in reliance on paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Non-audit fees billed by the Auditor for services rendered to the Registrant and the Service Affiliates during the reporting period were $337,871 in July 31, 2024 and $416,052 in July 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Yes. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor's independence. All services provided by the Auditor to the Registrant or to the Service Affiliates, which were required to be pre-approved, were pre-approved as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable*.*

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 7 of this Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

#### Franklin

#### Global

#### Trust

#### Financial

#### Statements

#### and

#### Other

#### Important

#### Information

#### Annual
\|

July

31,

2025

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund

#### Table

#### of

#### Contents

#### ftinstitutional.com

#### \|

#### franklintempleton.com
Financial

Statements

and

Other

Important

Information—Annual

Financial

Highlights

and

Schedule

of

Investments

#### 2
Financial

Statements

#### 16
Notes

to

Financial

Statements

#### 20
Report

of

Independent

Registered

Public

Accounting

Firm

#### 39
Tax

Information

#### 40
Changes

In

and

Disagreements

with

Accountants

#### 41
Results

of

Meeting(s)

of

Shareholders

Remuneration

Paid

to

Directors,

Officers

and

Others

Board

Approval

of

Management

and

Subadvisory

Agreements

Franklin

Global

Trust

Consolidated

Financial

Highlights

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

consolidated

financial

statements.

a

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$11.55

$10.46

$9.91

$11.73

$10.19

Income

from

investment

operations

a

:

Net

investment

income

b

.........................

1.02 0.85 0.79 0.77 0.71 Net

realized

and

unrealized

gains

(losses)

...........

0.31 0.58 0.66 (2.59)

0.83 Total

from

investment

operations

....................

1.33 1.43 1.45 (1.82)

1.54 Less

distributions

from:

Net

investment

income

..........................

(0.53)

(0.34)

(0.90)

—

—

Net

asset

value,

end

of

year

.......................

$12.35

$11.55

$10.46

$9.91

$11.73

Total

return

....................................

11.88%

13.78%

15.51%

(15.52)%

15.11%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

1.15%

1.24%

1.04%

1.14%

1.24%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.00%

1.00%

1.00%

c

1.00%

c

1.00%

c

Net

investment

income

...........................

8.60%

7.85%

7.96%

6.90%

6.34%

#### Supplemental

#### data
Net

assets,

end

of

year

(000's)

.....................

$106,537

$68,318

$41,116

$55,697

$135,374

Portfolio

turnover

rate

............................

39.41%

75.07%

29.79%

43.31%

61.28%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Consolidated

Statements

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

Global

Trust

Consolidated

Schedule

of

Investments,

July

31,

2025

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Shares
a

#### Value
a

a

#### a
a

#### Common

#### Stocks

#### 0.0%

#### Broadline

#### Retail

#### 0.0%
a,b,c

K2016470219

South

Africa

Ltd.,

A

.......................

South

Africa

55,882,058

$

—

a,b,c

K2016470219

South

Africa

Ltd.,

B

.......................

South

Africa

5,561,052

—

—

#### Financial

#### Services

#### 0.0%
a,b,c

Astana

Finance

JSC,

GDR,

144A

.......................

Kazakhstan

193,625

—

#### Total

#### Common

#### Stocks

#### (Cost

#### $433,378)

#### .......................................

#### —

#### Warrants

#### 2.0%

#### Financial

#### Services

#### 2.0%
d,e,f

Ukraine

Government,

VRI,

GDP

Linked

Security,

Senior

Bond,

Reg

S,

8/01/41

....................................

Ukraine

1,950,000

1,451,921

a,b,g

Venezuela

Government,

Oil

Value

Recovery,

4/15/20

.........

Venezuela

925,920

691,095

2,143,016

#### Total

#### Warrants

#### (Cost

#### $18,406,656)

#### ...........................................

#### 2,143,016

#### Units

#### Private

#### Limited

#### Partnership

#### Funds

#### 0.0%

#### Capital

#### Markets

#### 0.0%
a,b,g,h

Global

Distressed

Alpha

Fund

III

LP

.....................

United

States

4,424,861

—

#### Total

#### Private

#### Limited

#### Partnership

#### Funds

#### (Cost

#### $4,600,000)

#### .....................

#### —

#### Principal

#### Amount

#### \*

#### Quasi-Sovereign

#### Bonds

#### 9.2%

#### Financial

#### Services

#### 0.5%
a

Meridiam

Eastern

Europe

Investments

SAS

,

8.85 %

,

6/10/28

...

Turkiye

428,571

EUR

502,464

a,c,e,i

Sphynx

Capital

Markets

PCC

(National

Investment

Bank

of

Ghana)

,

PTN

,

Secured

Note

,

Reg

S,

Zero

Cpn.,

2/05/09

.....

Ghana

8,000,000

—

502,464

#### Municipal

#### Bonds

#### 2.6%
d

Argentina

Provincia

de

Tierra

del

Fuego

,

Senior

Secured

Bond

,

144A,

8.95 %

,

1/21/30

...............................

Argentina

338,100

322,463

d

Istanbul

Metropolitan

Municipality

,

Senior

Note,

144A,

10.75%,

4/12/27

...................

Turkiye

250,000

264,583

Senior

Note,

144A,

10.5%,

12/06/28

...................

Turkiye

945,000

1,024,211

d

Provincia

del

Chubut

Argentina

,

Senior

Secured

Bond

,

144A,

7.75 %

,

7/26/30

...................................

Argentina

1,228,113

1,194,340

2,805,597

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### 5.4%
Ecopetrol

SA

,

Senior

Bond

,

4.625 %

,

11/02/31

..............

Colombia

850,000

734,602

d

Heritage

Petroleum

Co.

Ltd.

,

Senior

Secured

Note

,

144A,

%

,

8/12/29

.........................................

Trinidad

and

Tobago

650,000

670,443

d

KazMunayGas

National

Co.

JSC

,

Senior

Bond

,

144A,

5.75 %

,

4/19/47

.........................................

Kazakhstan

1,680,000

1,476,583

Petroleos

Mexicanos

,

Senior

Note

,

6.7 %

,

2/16/32

...........

Mexico

1,750,000

1,669,191

d

Uzbekneftegaz

JSC

,

Senior

Bond

,

144A,

8.75 %

,

5/07/30

......

Uzbekistan

1,150,000

1,209,957

5,760,776

Franklin

Global

Trust

Consolidated

Schedule

of

Investments

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Quasi-Sovereign

#### Bonds
(continued)

#### Transportation

#### Infrastructure

#### 0.7%
d,j

PA

Autopista

Rio

Magdalena

,

Index

Linked,

Senior

Secured

Bond

,

144A,

6.05 %

,

6/15/36

...............................

Colombia

3,622,219,561

COP

$

722,585

#### Total

#### Quasi-Sovereign

#### Bonds

#### (Cost

#### $12,663,673)
..............................

#### 9,791,422

#### Corporate

#### Bonds

#### 10.1%

#### Banks

#### 0.2%
d

Ipoteka-Bank

ATIB

,

Senior

Note

,

Reg

S,

20.5 %

,

4/25/27

......

Uzbekistan

2,500,000,000

UZS

202,340

#### Broadline

#### Retail

#### 0.0%
a,d,e

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

%

,

12/31/22

........................................

South

Africa

4,842,864

—

a,d,e

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

%

,

12/31/22

....................................

South

Africa

2,133,302

—

—

#### Chemicals

#### 0.8%
d

Braskem

Idesa

SAPI

,

Senior

Secured

Bond

,

144A,

6.99 %

,

2/20/32

.........................................

Mexico

1,340,000

901,365

#### Commercial

#### Services

#### &

#### Supplies

#### 0.9%
d

Ambipar

Lux

SARL

,

Senior

Note,

144A,

9.875%,

2/06/31

...................

Brazil

421,000

381,973

Senior

Note,

144A,

10.875%,

2/05/33

..................

Brazil

600,000

541,414

923,387

#### Diversified

#### Telecommunication

#### Services

#### 0.4%
d

IHS

Holding

Ltd.

,

Senior

Note

,

144A,

8.25 %

,

11/29/31

........

Nigeria

400,000

409,323

#### Electric

#### Utilities

#### 2.4%
d

Adani

Electricity

Mumbai

Ltd.

,

Senior

Secured

Bond

,

144A,

3.949 %

,

2/12/30

...................................

India

1,606,000

1,478,788

d

GDZ

Elektrik

Dagitim

A/S

,

Senior

Note

,

144A,

%

,

10/15/29

...

Turkiye

1,100,000

1,068,925

2,547,713

#### Food

#### Products

#### 1.6%
d

Frigorifico

Concepcion

SA

,

Senior

Secured

Note

,

144A,

7.7 %

,

7/21/28

.........................................

Paraguay

1,500,000

1,127,722

d

MHP

Lux

SA

,

Senior

Bond

,

Reg

S,

6.25 %

,

9/19/29

..........

Ukraine

650,000

530,423

1,658,145

#### Metals

#### &

#### Mining

#### 0.7%
d

Petra

Diamonds

US

Treasury

plc

,

Senior

Secured

Note

,

144A,

9.75 %

,

3/08/26

...................................

South

Africa

1,415,350

791,850

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### 2.0%
d

Kosmos

Energy

Ltd.

,

Senior

Note,

144A,

7.75%,

5/01/27

....................

Ghana

600,000

567,918

Senior

Note,

144A,

8.75%,

10/01/31

...................

Ghana

1,150,000

887,506

d

MC

Brazil

Downstream

Trading

SARL

,

Senior

Secured

Note

,

144A,

7.25 %

,

6/30/31

...............................

Brazil

866,598

708,011

2,163,435

#### Real

#### Estate

#### Management

#### &

#### Development

#### 0.2%
d,e

Country

Garden

Holdings

Co.

Ltd.

,

Senior

Secured

Note

,

Reg

S,

7.25 %

,

4/08/26

...................................

China

1,940,000

169,226

Franklin

Global

Trust

Consolidated

Schedule

of

Investments

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Wireless

#### Telecommunication

#### Services

#### 0.9%
Telecommunications

Services

of

Trinidad

&

Tobago

Ltd.

,

d

Senior

Secured

Bond,

144A,

8.875%,

10/18/29

...........

Trinidad

and

Tobago

970,000

$

978,609

978,609

#### Total

#### Corporate

#### Bonds

#### (Cost

#### $18,491,744)
....................................

#### 10,745,393
k

#### Loan

#### Participations

#### and

#### Assignments

#### 0.0%
a,d,e

Alfa

Bank

AO

Via

Alfa

Bond

Issuance

plc

,

Sub.

Bond

,

144A,

5.95 %

,

4/15/30

...................................

Russia

1,000,000

—

a,g,l,m

Global

Distressed

Alpha

Fund

III

LP

,

PIK,

12%,

Perpetual

................................

United

States

1,986,930

—

#### Total

#### Loan

#### Participations

#### and

#### Assignments

#### (Cost

#### $2,480,358)
..................

#### —

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### 65.5%
d

Angola

Government

Bond

,

Senior

Bond

,

144A,

8.75 %

,

4/14/32

.

Angola

3,070,000

2,797,893

Argentina

Government

Bond

,

Senior

Bond,

4.125%,

7/09/35

........................

Argentina

1,335,000

884,438

Senior

Note,

1%,

7/09/29

............................

Argentina

928,392

756,175

d

Armenia

Government

Bond

,

Senior

Bond,

144A,

3.95%,

9/26/29

....................

Armenia

1,580,000

1,456,625

Senior

Bond,

144A,

3.6%,

2/02/31

.....................

Armenia

200,000

174,181

d

Benin

Government

Bond

,

Senior

Bond,

144A,

4.875%,

1/19/32

...................

Benin

533,000

EUR

568,553

Senior

Bond,

144A,

8.375%,

1/23/41

...................

Benin

1,000,000

988,911

d

BOI

Finance

BV

,

Senior

Note

,

144A,

7.5 %

,

2/16/27

..........

Nigeria

850,000

EUR

994,802

Brazil

Government

Bond

,

Senior

Bond,

4.75%,

1/14/50

.........................

Brazil

1,420,000

1,002,963

j

B,

Index

Linked,

6%,

5/15/35

.........................

Brazil

13,125,137

BRL

2,135,012

d

Bulgaria

Government

Bond

,

Senior

Bond

,

Reg

S,

1.375 %

,

9/23/50

.........................................

Bulgaria

1,640,000

EUR

1,105,959

d

Cameroon

Government

Bond

,

Senior

Bond

,

144A,

5.95 %

,

7/07/32

.........................................

Cameroon

1,630,000

EUR

1,487,194

Colombia

Government

Bond

,

Senior

Bond,

9.85%,

6/28/27

.........................

Colombia

1,500,000,000

COP

355,700

Senior

Bond,

7.5%,

2/02/34

..........................

Colombia

1,100,000

1,118,700

Colombia

Titulos

de

Tesoreria

,

B

,

13.25 %

,

2/09/33

..........

Colombia

3,350,000,000

COP

854,460

d

Dominican

Republic

Government

Bond

,

Senior

Bond,

144A,

13.625%,

2/03/33

..................

Dominican

Republic

54,650,000

DOP

1,073,065

Senior

Bond,

144A,

6.4%,

6/05/49

.....................

Dominican

Republic

1,100,000

1,049,675

Egypt

Government

Bond

,

25.318%,

8/13/27

..................................

Egypt

27,600,000

EGP

576,241

n

24.458%,

10/01/27

.................................

Egypt

61,275,000

EGP

1,259,905

d

Senior

Bond,

144A,

7.3%,

9/30/33

.....................

Egypt

475,000

423,676

d

Senior

Bond,

144A,

7.5%,

2/16/61

.....................

Egypt

1,510,000

1,105,009

d

El

Salvador

Government

Bond

,

Senior

Bond,

Reg

S,

7.65%,

6/15/35

...................

El

Salvador

2,460,000

2,366,520

Senior

Note,

144A,

0.25%,

4/17/30

.....................

El

Salvador

1,200,000

26,733

d,e

Ethiopia

Government

Bond

,

Senior

Bond,

144A,

6.625%,

12/11/24

..................

Ethiopia

2,050,000

1,887,404

Senior

Bond,

Reg

S,

6.625%,

12/11/24

..................

Ethiopia

370,000

340,654

d

Gabon

Government

Bond

,

Senior

Bond,

144A,

6.625%,

2/06/31

...................

Gabon

1,940,000

1,599,786

Franklin

Global

Trust

Consolidated

Schedule

of

Investments

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities
(continued)

d

Gabon

Government

Bond,

(continued)

Senior

Bond,

144A,

7%,

11/24/31

......................

Gabon

950,000

$

775,393

d

Grenada

Government

Bond

,

Senior

Bond

,

144A,

%

,

5/12/30

..

Grenada

718,774

693,617

d

Guatemala

Government

Bond

,

Senior

Bond

,

Reg

S,

6.125 %

,

6/01/50

.........................................

Guatemala

1,350,000

1,238,605

d

Honduras

Government

Bond

,

Senior

Bond

,

144A,

5.625 %

,

6/24/30

.........................................

Honduras

1,145,000

1,090,899

Iraq

Government

Bond

,

d

Senior

Bond,

Reg

S,

5.8%,

1/15/28

....................

Iraq

2,528,125

2,513,762

d

Ivory

Coast

Government

Bond

,

Senior

Bond

,

144A,

4.875 %

,

1/30/32

.........................................

Ivory

Coast

2,040,000

EUR

2,158,207

Jamaica

Government

Bond

,

Senior

Note

,

9.625 %

,

11/03/30

....

Jamaica

78,500,000

JMD

510,690

d

Jordan

Government

Bond

,

Senior

Bond,

144A,

5.85%,

7/07/30

....................

Jordan

1,000,000

973,117

Senior

Bond,

144A,

7.375%,

10/10/47

..................

Jordan

1,450,000

1,313,568

Kazakhstan

MEOKAM

,

10.5%,

8/04/26

...................................

Kazakhstan

291,200,000

KZT

510,262

13.9%,

9/16/26

...................................

Kazakhstan

394,713,000

KZT

710,978

Kazakhstan

MEUKAM

,

Senior

Bond

,

%

,

4/18/28

...........

Kazakhstan

560,000,000

KZT

787,450

Mexican

Bonos

Desarr

Fixed

Rate

,

M,

7.75%,

5/29/31

.................................

Mexico

9,620,000

o

MXN

484,231

M,

8%,

11/07/47

...................................

Mexico

47,820,000

o

MXN

2,093,150

d

Montenegro

Government

Bond

,

Senior

Note

,

144A,

4.875 %

,

4/01/32

.........................................

Montenegro

1,100,000

EUR

1,244,434

d

Mozambique

Government

Bond

,

144A,

%

,

9/15/31

.........

Mozambique

1,871,000

1,638,144

d

Nigeria

Government

Bond

,

Senior

Bond

,

Reg

S,

7.625 %

,

11/28/47

........................................

Nigeria

1,400,000

1,140,472

d

Pakistan

Government

Bond

,

Senior

Bond

,

144A,

7.375 %

,

4/08/31

Pakistan

1,110,000

1,043,816

Panama

Government

Bond

,

Senior

Bond

,

%

,

3/01/38

.......

Panama

800,000

868,000

d

Romania

Government

Bond

,

Senior

Bond,

Reg

S,

3.875%,

10/29/35

.................

Romania

1,350,000

EUR

1,318,377

Senior

Bond,

Reg

S,

5.625%,

2/22/36

..................

Romania

1,120,000

EUR

1,252,663

d,e

Saderea

DAC

,

Senior

Secured

Bond

,

Reg

S,

12.5 %

,

11/30/26

..

Ghana

962,882

683,647

d

Serbia

Government

Bond

,

Senior

Bond,

144A,

1.5%,

6/26/29

.....................

Serbia

950,000

EUR

1,002,819

Senior

Bond,

Reg

S,

1.65%,

3/03/33

...................

Serbia

560,000

EUR

533,708

South

Africa

Government

Bond

,

Senior

Bond,

8.75%,

2/28/48

.........................

South

Africa

51,490,000

ZAR

2,348,334

Senior

Bond,

5.75%,

9/30/49

.........................

South

Africa

1,050,000

778,990

d

Suriname

Government

Bond

,

p

Senior

Bond,

144A,

FRN,

9%,

12/31/50

.................

Suriname

1,084,000

1,268,551

l

Senior

Note,

144A,

PIK,

7.95%,

7/15/33

.................

Suriname

777,538

774,493

Tunisia

Government

Bond

,

Senior

Bond,

4.2%,

3/17/31

..........................

Tunisia

260,000,000

1,522,629

d

Senior

Note,

Reg

S,

6.375%,

7/15/26

...................

Tunisia

700,000

EUR

793,374

Turkiye

Government

Bond

,

36%,

8/12/26

.....................................

Turkiye

75,500,000

TRY

1,832,111

Senior

Bond,

4.875%,

4/16/43

........................

Turkiye

1,400,000

1,001,919

Uganda

Government

Bond

,

14.25 %

,

8/23/29

...............

Uganda

3,800,000,000

UGX

1,012,155

d

Ukraine

Government

Bond

,

Senior

Bond,

144A,

2/01/35

..........................

Ukraine

265,892

124,072

Senior

Bond,

144A,

1.75%,

2/01/35

....................

Ukraine

539,491

276,578

Senior

Bond,

144A,

2/01/36

..........................

Ukraine

221,577

103,396

Senior

Bond,

144A,

1.75%,

2/01/36

....................

Ukraine

693,632

343,438

Senior

Note,

144A,

2/01/34

..........................

Ukraine

314,639

118,665

Senior

Note,

144A,

1.75%,

2/01/34

.....................

Ukraine

758,281

384,294

Franklin

Global

Trust

Consolidated

Schedule

of

Investments

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities
(continued)

d

Uzbekistan

Government

Bond

,

Senior

Note,

144A,

16.625%,

5/29/27

...................

Uzbekistan

13,430,000,000

UZS

$

1,084,184

Senior

Note,

144A,

15.5%,

2/25/28

.....................

Uzbekistan

8,100,000,000

UZS

643,602

d,e

Venezuela

Government

Bond

,

Senior

Bond

,

Reg

S,

7.65 %

,

4/21/25

.........................................

Venezuela

2,000,000

370,200

#### Total

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### (Cost

#### $67,453,059)
............

#### 69,751,228

#### Supranational

#### 4.5%
Asian

Development

Bank

,

Senior

Note

,

5.55 %

,

9/12/25

.......

Supranational

q

6,000,000

PLN

1,609,508

d

Banque

Ouest

Africaine

de

Developpement

,

Sub.

Bond

,

144A,

8.2%

to

2/12/30,

FRN

thereafter

,

2/13/55

................

Supranational

q

1,000,000

1,013,306

d

Corp.

Andina

de

Fomento

,

Senior

Bond

,

Reg

S,

7.5 %

,

6/10/30

.

Supranational

q

8,630,000

MXN

424,377

a

European

Bank

for

Reconstruction

&

Development

,

Senior

Note

,

8.5 %

,

6/26/28

....................................

Supranational

q

400,000

AZN

236,741

Inter-American

Development

Bank

,

Senior

Note

,

5.1 %

,

11/17/26

Supranational

q

7,000,000,000

IDR

422,289

International

Bank

for

Reconstruction

&

Development

,

Senior

Note

,

4.6 %

,

2/09/26

................................

Supranational

q

14,100,000,000

IDR

851,788

a

International

Finance

Corp.

,

%

,

7/23/27

..................

Supranational

q

500,000

AZN

295,433

#### Total

#### Supranational

#### (Cost

#### $4,773,381)
........................................

#### 4,853,442

#### Shares
a

#### Escrows

#### and

#### Litigation

#### Trusts

#### 0.0%

#### †
a,b

K2016470219

South

Africa

Ltd.,

Escrow

Account

............

South

Africa

275,106

3,982

#### Total

#### Escrows

#### and

#### Litigation

#### Trusts

#### (Cost

#### $–)

#### .................................

#### 3,982

#### Total

#### Long

#### Term

#### Investments

#### (Cost

#### $129,302,249)

#### .............................

#### 97,288,483

#### a

#### Short

#### Term

#### Investments

#### 7.5%
a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### 1.2%
r

Kazakhstan

MEKKAM,

15.62%,

5/15/26

..................

Kazakhstan

170,000,000

KZT

279,430

r

Nigeria

Treasury

Bills

,

23.52%,

2/24/26

...................................

Nigeria

900,000,000

NGN

515,622

19.66%,

3/03/26

...................................

Nigeria

900,000,000

NGN

524,161

1,039,783

#### Total

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### (Cost

#### $1,348,986)

#### .............

#### 1,319,213

#### Shares

#### Money

#### Market

#### Funds

#### 6.3%
s,t

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.254%

..

United

States

6,669,994

6,669,994

#### Total

#### Money

#### Market

#### Funds

#### (Cost

#### $6,669,994)

#### .................................

#### 6,669,994

#### Total

#### Short

#### Term

#### Investments

#### (Cost

#### $8,018,980

####)
...............................

#### 7,989,207

#### a

#### Total

#### Investments

#### (Cost

#### $137,321,229)

#### 98.8%

#### .................................

#### $105,277,690

#### Other

#### Assets,

#### less

#### Liabilities

#### 1.2%

#### ...........................................

#### 1,259,045

#### Net

#### Assets

#### 100.0%

#### .........................................................

#### $106,536,735

#### a
Franklin

Global

Trust

Consolidated

Schedule

of

Investments

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

At

July

31,

2025,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

(d).

\*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Fair

valued

using

significant

unobservable

inputs.

See

Note

regarding

fair

value

measurements.

b

Non-income

producing.

c

See

Note

regarding

restricted

securities.

d

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933. 144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933. Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

July

31,

2025,

the

aggregate

value

of

these

securities

was

$66,866,897,

representing

62.8%

of

net

assets.

e

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

See

Note

6. f

The

principal

represents

the

notional

amount.

See

Note

1(d)

regarding

value

recovery

instruments.

g

The

security

is

owned

by

Alternative

Strategies

(FT)

Ltd.,

a

wholly-owned

subsidiary

of

the

Fund.

See

Note

1(f).

h

The

Global

Distressed

Alpha

Fund

III

LP

is

a

fund

focused

on

the

purchase

of

and

the

recovery

on

private

distressed

commercial,

sovereign

and

sovereign-related

debt

claims

around

the

world,

principally

in

Africa

and

Asia.

i

Represents

claims

that

have

been

filed

with

a

Ghanaian

court

against

National

Investment

Bank

of

Ghana.

j

Principal

amount

of

security,

redemption

price

at

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

See

Note

1(h).

k

See

Note

1(e)

regarding

loan

participations

and

assignments.

l

Income

may

be

received

in

additional

securities

and/or

cash.

m

Perpetual

security

with

no

stated

maturity

date.

n

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

See

Note

1(c).

o

Principal

amount

is

stated

in

Mexican

Peso

Units.

p

The

coupon

rate

shown

represents

the

rate

at

period

end.

q

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

r

The

rate

shown

represents

the

yield

at

period

end.

s

See

Note

3(f)

regarding

investments

in

affiliated

management

investment

companies.

t

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

#### Forward

#### Exchange

#### Contracts

#### Currency

#### Counter-

#### party

#### a

#### Type

#### Quantity

#### Contract

#### Amount

#### \*

#### Settlement

#### Date

#### Unrealized

#### Appreciation

#### Unrealized

#### Depreciation

#### a

#### OTC

#### Forward

#### Exchange

#### Contracts
Euro

.............

CITI

Buy

930,000

1,092,718

9/09/25

$

—

$

(28,769)

Euro

.............

CITI

Sell

13,950,000

16,110,379

9/09/25

151,143

—

Japanese

Yen

......

CITI

Sell

221,000,000

1,543,933

9/09/25

72,305

—

Total

Forward

Exchange

Contracts

...................................................

$223,448

$(28,769)

Net

unrealized

appreciation

(depreciation)

............................................

$194,679

\*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

See

Note 9 regarding

other

derivative

information.

See

Abbreviations

on

.

Franklin

Global

Trust

Financial

Highlights

#### Franklin

#### International

#### Growth

#### Fund
ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

L

a

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### A

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$17.48

$16.49

$15.60

$22.76

$18.34

Income

from

investment

operations

a

:

Net

investment

income

(loss)

b

....................

—

c

(—)

c

—

c

(0.06)

(0.09)

Net

realized

and

unrealized

gains

(losses)

...........

0.89 0.99 1.14 (6.72)

4.99 Total

from

investment

operations

....................

0.89 0.99 1.14 (6.78)

4.90 Less

distributions

from:

Net

investment

income

..........................

(0.30)

—

—

(0.17)

—

Net

realized

gains

.............................

—

—

(0.25)

(0.21)

(0.48)

Total

distributions

...............................

(0.30)

—

(0.25)

(0.38)

(0.48)

Net

asset

value,

end

of

year

.......................

$18.07

$17.48

$16.49

$15.60

$22.76

Total

return

d

...................................

5.28%

6.00%

7.52%

(30.19)%

26.98%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

1.20%

1.19%

1.16%

1.15%

1.13%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.11%

1.11%

1.11%

e

1.11%

1.11%

e

Net

investment

income

(loss)

......................

0.02%

(0.02)%

0.01%

(0.32)%

(0.41)%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$357,586

$397,432

$462,018

$528,966

$961,676

Portfolio

turnover

rate

............................

25.70%

17.56%

18.23%

17.92%

14.47%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Amount

rounds

to

less

than

$0.01

per

share.

d

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

Global

Trust

Financial

Highlights

#### Franklin

#### International

#### Growth

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### C

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$16.21

$15.41

$14.70

$21.48

$17.46

Income

from

investment

operations

a

:

Net

investment

(loss)

b

..........................

(0.12)

(0.11)

(0.11)

(0.20)

(0.23)

Net

realized

and

unrealized

gains

(losses)

...........

0.83 0.91 1.07 (6.34)

4.73 Total

from

investment

operations

....................

0.71 0.80 0.96 (6.54)

4.50 Less

distributions

from:

Net

investment

income

..........................

(0.15)

—

—

(0.03)

—

Net

realized

gains

.............................

—

—

(0.25)

(0.21)

(0.48)

Total

distributions

...............................

(0.15)

—

(0.25)

(0.24)

(0.48)

Net

asset

value,

end

of

year

.......................

$16.77

$16.21

$15.41

$14.70

$21.48

Total

return

c

...................................

4.48%

5.19%

6.74%

(30.73)%

26.04%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

1.95%

1.94%

1.91%

1.90%

1.88%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.86%

1.86%

1.86%

d

1.86%

1.86%

d

Net

investment

(loss)

............................

(0.75)%

(0.78)%

(0.74)%

(1.08)%

(1.15)%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$17,374

$22,189

$27,894

$32,663

$62,560

Portfolio

turnover

rate

............................

25.70%

17.56%

18.23%

17.92%

14.47%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

d

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

Global

Trust

Financial

Highlights

#### Franklin

#### International

#### Growth

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### R

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$17.13

$16.20

$15.37

$22.48

$18.16

Income

from

investment

operations

a

:

Net

investment

(loss)

b

..........................

(0.04)

(0.04)

(0.04)

(0.10)

(0.12)

Net

realized

and

unrealized

gains

(losses)

...........

0.88 0.97 1.12 (6.64)

4.92 Total

from

investment

operations

....................

0.84 0.93 1.08 (6.74)

4.80 Less

distributions

from:

Net

investment

income

..........................

(0.26)

—

—

(0.16)

—

Net

realized

gains

.............................

—

—

(0.25)

(0.21)

(0.48)

Total

distributions

...............................

(0.26)

—

(0.25)

(0.37)

(0.48)

Net

asset

value,

end

of

year

.......................

$17.71

$17.13

$16.20

$15.37

$22.48

Total

return

....................................

5.04%

5.74%

7.24%

(30.37)%

26.69%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

1.45%

1.44%

1.41%

1.40%

1.38%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.36%

1.36%

1.36%

c

1.36%

1.35%

c

Net

investment

(loss)

............................

(0.21)%

(0.27)%

(0.24)%

(0.55)%

(0.58)%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$4,667

$4,702

$5,594

$5,940

$8,630

Portfolio

turnover

rate

............................

25.70%

17.56%

18.23%

17.92%

14.47%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

Global

Trust

Financial

Highlights

#### Franklin

#### International

#### Growth

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### R6

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$17.74

$16.68

$15.72

$22.94

$18.44

Income

from

investment

operations

a

:

Net

investment

income

(loss)

b

....................

0.06 0.04 0.06 0.01 (0.01)

Net

realized

and

unrealized

gains

(losses)

...........

0.91 1.02 1.15 (6.76)

5.01 Total

from

investment

operations

....................

0.97 1.06 1.21 (6.75)

5.00 Less

distributions

from:

Net

investment

income

..........................

(0.37)

—

—

(0.26)

(0.02)

Net

realized

gains

.............................

—

—

(0.25)

(0.21)

(0.48)

Total

distributions

...............................

(0.37)

—

(0.25)

(0.47)

(0.50)

Net

asset

value,

end

of

year

.......................

$18.34

$17.74

$16.68

$15.72

$22.94

Total

return

....................................

5.68%

6.35%

7.91%

(29.93)%

27.44%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

0.83%

0.82%

0.81%

0.80%

0.78%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

0.75%

0.75%

0.75%

c

0.75%

0.73%

c

Net

investment

income

(loss)

......................

0.37%

0.28%

0.39%

0.04%

(0.03)%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$154,601

$191,179

$321,629

$346,328

$548,647

Portfolio

turnover

rate

............................

25.70%

17.56%

18.23%

17.92%

14.47%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

Global

Trust

Financial

Highlights

#### Franklin

#### International

#### Growth

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Advisor

#### Class

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$17.66

$16.62

$15.68

$22.89

$18.40

Income

from

investment

operations

a

:

Net

investment

income

(loss)

b

....................

0.04 0.02 0.04 (0.01)

(0.04)

Net

realized

and

unrealized

gains

(losses)

...........

0.91 1.02 1.15 (6.76)

5.01 Total

from

investment

operations

....................

0.95 1.04 1.19 (6.77)

4.97 Less

distributions

from:

Net

investment

income

..........................

(0.34)

—

—

(0.23)

(—)

c

Net

realized

gains

.............................

—

—

(0.25)

(0.21)

(0.48)

Total

distributions

...............................

(0.34)

—

(0.25)

(0.44)

(0.48)

Net

asset

value,

end

of

year

.......................

$18.27

$17.66

$16.62

$15.68

$22.89

Total

return

....................................

5.59%

6.26%

7.80%

(30.04)%

27.31%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

0.95%

0.94%

0.91%

0.90%

0.88%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

0.86%

0.86%

0.86%

d

0.86%

0.86%

d

Net

investment

income

(loss)

......................

0.26%

0.16%

0.26%

(0.07)%

(0.17)%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$325,372

$400,524

$784,288

$975,415

$1,665,974

Portfolio

turnover

rate

............................

25.70%

17.56%

18.23%

17.92%

14.47%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Amount

rounds

to

less

than

$0.01

per

share.

d

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

Global

Trust

Schedule

of

Investments,

July

31,

2025

#### Franklin

#### International

#### Growth

#### Fund
ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Shares
a

#### Value
a

a

#### a
a

#### Common

#### Stocks

#### 98.1%

#### Aerospace

#### &

#### Defense

#### 3.7%
MTU

Aero

Engines

AG

...............................

Germany

73,000

$

31,489,190

#### Air

#### Freight

#### &

#### Logistics

#### 3.7%
DSV

A/S

..........................................

Denmark

142,000

31,820,072

#### Biotechnology

#### 4.9%
a

Argenx

SE

,

ADR

....................................

Netherlands

45,000

30,164,850

a

BioNTech

SE

,

ADR

..................................

Germany

108,000

11,610,000

41,774,850

#### Broadline

#### Retail

#### 3.5%
a

MercadoLibre,

Inc.

..................................

Brazil

12,800

30,385,792

#### Capital

#### Markets

#### 8.4%
ICG

plc

...........................................

United

Kingdom

1,220,503

34,946,136

Macquarie

Group

Ltd.

................................

Australia

190,000

26,312,233

Swissquote

Group

Holding

SA

..........................

Switzerland

16,000

10,631,130

71,889,499

#### Chemicals

#### 3.2%
Sika

AG

..........................................

Switzerland

118,000

27,845,603

#### Containers

#### &

#### Packaging

#### 2.7%
SIG

Group

AG

.....................................

Switzerland

1,450,000

23,459,235

#### Electronic

#### Equipment,

#### Instruments

#### &

#### Components

#### 1.6%
Inficon

Holding

AG

..................................

Switzerland

65,000

7,821,192

VusionGroup

.......................................

France

22,000

5,655,188

13,476,380

#### Entertainment

#### 3.3%
CTS

Eventim

AG

&

Co.

KGaA

..........................

Germany

250,000

28,231,114

#### Health

#### Care

#### Equipment

#### &

#### Supplies

#### 7.9%
Alcon

AG

.........................................

United

States

375,800

32,945,626

Cochlear

Ltd.

......................................

Australia

170,000

34,706,017

67,651,643

#### Hotels,

#### Restaurants

#### &

#### Leisure

#### 2.9%
Amadeus

IT

Group

SA

...............................

Spain

310,000

24,891,092

#### Interactive

#### Media

#### &

#### Services

#### 3.1%
b

Scout24

SE

,

144A

,

Reg

S

.............................

Germany

200,000

26,728,345

#### IT

#### Services

#### 3.4%
a

Shopify,

Inc.

,

A

.....................................

Canada

240,000

29,330,400

#### Life

#### Sciences

#### Tools

#### &

#### Services

#### 2.0%
Lonza

Group

AG

....................................

Switzerland

25,000

17,424,226

#### Machinery

#### 6.7%
Georg

Fischer

AG

...................................

Switzerland

160,000

12,516,595

Interroll

Holding

AG

..................................

Switzerland

10,841

30,527,940

b

VAT

Group

AG

,

144A

,

Reg

S

...........................

Switzerland

42,000

14,707,930

57,752,465

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### 0.9%
Secure

Waste

Infrastructure

Corp.

.......................

Canada

716,900

7,833,333

#### Pharmaceuticals

#### 2.6%
AstraZeneca

plc

....................................

United

Kingdom

155,000

22,613,209

#### Professional

#### Services

#### 3.0%
Experian

plc

.......................................

United

States

485,000

25,555,015

Franklin

Global

Trust

Schedule

of

Investments

#### Franklin

#### International

#### Growth

#### Fund
(continued)

ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

See

Abbreviations

on

.

a

a

#### Country

#### Shares
a

#### Value
a

a

#### a
a

#### Common

#### Stocks
(continued)

#### Semiconductors

#### &

#### Semiconductor

#### Equipment

#### 9.8%
ASML

Holding

NV

...................................

Netherlands

40,000

$

27,722,946

Disco

Corp.

........................................

Japan

113,000

33,394,518

a

Nova

Ltd.

.........................................

Israel

90,000

23,633,100

84,750,564

#### Software

#### 16.6%
a

CyberArk

Software

Ltd.

...............................

United

States

82,813

34,075,065

a

Kinaxis,

Inc.

.......................................

Canada

199,700

29,637,924

a

Monday.com

Ltd.

....................................

United

States

105,000

27,540,450

a

Nice

Ltd.

,

ADR

.....................................

Israel

155,000

24,187,750

SAP

SE

..........................................

Germany

95,000

27,165,801

142,606,990

#### Specialty

#### Retail

#### 1.6%
Fast

Retailing

Co.

Ltd.

................................

Japan

45,000

13,726,338

#### Trading

#### Companies

#### &

#### Distributors

#### 2.6%
RS

Group

plc

......................................

United

Kingdom

3,050,000

22,444,822

#### Total

#### Common

#### Stocks

#### (Cost

#### $

#### 604,612,039

####)
...................................

#### 843,680,177

#### Short

#### Term

#### Investments

#### 1.8%
a

a

#### Country

#### Shares
a

#### Value
a

a

#### a
a

#### Money

#### Market

#### Funds

#### 1.8%
c,d

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

4.254 %

..

United

States

15,291,485

15,291,485

#### Total

#### Money

#### Market

#### Funds

#### (Cost

#### $

#### 15,291,485

####)
................................

#### 15,291,485

#### Total

#### Short

#### Term

#### Investments

#### (Cost

#### $

#### 15,291,485

####)
..............................

#### 15,291,485

#### a

#### Total

#### Investments

#### (Cost

#### $

#### 619,903,524

####)
99.9 #### %
.................................

#### $858,971,662

#### Other

#### Assets,

#### less

#### Liabilities
0.1 #### %
...........................................

#### 629,090

#### Net

#### Assets

#### 100.0%

#### .........................................................

#### $859,600,752

#### a
a

Non-income

producing.

b

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933. 144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933. Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

July

31,

2025,

the

aggregate

value

of

these

securities

was

$41,436,275,

representing

4.8%

of

net

assets.

c

See

Note

3(f)

regarding

investments

in

affiliated

management

investment

companies.

d

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Franklin

Global

Trust

Financial

Statements

Statements

of

Assets

and

Liabilities

July

31,

2025

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### a

#### Franklin

#### International

#### Growth

#### Fund
Assets:

Investments

in

securities:

Cost

-

Unaffiliated

issuers

..................................................

$130,651,235

$604,612,039

Cost

-

Non-controlled

affiliates

(Note

f)

.......................................

6,669,994

15,291,485

Value

-

Unaffiliated

issuers

.................................................

$98,607,696

$843,680,177

Value

-

Non-controlled

affiliates

(Note

f)

.......................................

6,669,994

15,291,485

Foreign

currency,

at

value

(cost

$–

and

$44,

respectively)

............................

—

Receivables:

Investment

securities

sold

..................................................

495,839

2,921,145

Capital

shares

sold

.......................................................

60,823

285,625

Dividends

and

interest

....................................................

2,650,614

2,593,146

Deposits

with

brokers

for:

OTC

derivative

contracts

.................................................

20,000

—

Unrealized

appreciation

on

OTC

forward

exchange

contracts

.........................

223,448

—

Total

assets

.........................................................

108,728,414

864,771,853

Liabilities:

Payables:

Investment

securities

purchased

.............................................

103,308

3,184,594

Capital

shares

redeemed

..................................................

1,705,377

648,965

Management

fees

........................................................

18,218

638,484

Distribution

fees

.........................................................

—

95,639

Transfer

agent

fees

.......................................................

403,665

Trustees'

fees

and

expenses

................................................

3,164

Funds

advanced

by

custodian

................................................

182,539

—

Unrealized

depreciation

on

OTC

forward

exchange

contracts

.........................

28,769

—

Deferred

taxes

on

unrealized

appreciation

.......................................

1,594

—

Accrued

expenses

and

other

liabilities

..........................................

151,285

196,590

Total

liabilities

........................................................

2,191,679

5,171,101

Net

assets,

at

value

................................................

$106,536,735

$859,600,752

Net

assets

consist

of:

Paid-in

capital

............................................................

$215,612,099

$617,842,051

Total

distributable

earnings

(losses)

............................................

(109,075,364)

241,758,701

Net

assets,

at

value

................................................

$106,536,735

$859,600,752

Shares

outstanding

........................................................

8,626,802

Net

asset

value

per

share

b

...................................................

$12.35

a

Consolidated

financial

statement.

See

Note

1(f).

b

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Franklin

Global

Trust

Financial

Statements

Statements

of

Assets

and

Liabilities

(continued)

July

31,

2025

ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

#### Franklin

#### International

#### Growth

#### Fund

#### Class

#### A:
Net

assets,

at

value

.......................................................................

$357,586,231

Shares

outstanding

........................................................................

19,789,809

Net

asset

value

per

share

a,b

..................................................................

$18.07

Maximum

offering

price

per

share

(net

asset

value

per

share

÷

94.50%)

b

................................

$19.12

#### Class

#### C:
Net

assets,

at

value

.......................................................................

$17,374,395

Shares

outstanding

........................................................................

1,035,992

Net

asset

value

and

maximum

offering

price

per

share

a,b

............................................

$16.77

#### Class

#### R:
Net

assets,

at

value

.......................................................................

$4,667,495

Shares

outstanding

........................................................................

263,594

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$17.71

#### Class

#### R6:
Net

assets,

at

value

.......................................................................

$154,600,765

Shares

outstanding

........................................................................

8,430,215

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$18.34

#### Advisor

#### Class:
Net

assets,

at

value

.......................................................................

$325,371,866

Shares

outstanding

........................................................................

17,810,545

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$18.27

a

Redemption

price

is

equal

to

net

asset

value

less

contingent

deferred

sales

charges,

if

applicable.

b

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Franklin

Global

Trust

Financial

Statements

Statements

of

Operations

for

the

year

ended

July

31,

2025

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### a

#### Franklin

#### International

#### Growth

#### Fund
Investment

income:

Dividends:

(net

of

foreign

taxes

of

$–

and

$660,619,

respectively)

Unaffiliated

issuers

.......................................................

$—

$9,276,553

Non-controlled

affiliates

(Note

f)

............................................

198,766

852,025

Interest:

(net

of

foreign

taxes

of

$127,577

and

$—,

respectively)

Unaffiliated

issuers

.......................................................

7,791,444

—

Total

investment

income

..................................................

7,990,210

10,128,578

Expenses:

Management

fees

(Note

a)

..................................................

707,327

6,766,567

Distribution

fees:

(Note

3c)

&nbsp;&nbsp;&nbsp;&nbsp;Class

A

...............................................................

—

911,810

&nbsp;&nbsp;&nbsp;&nbsp;Class

C

...............................................................

—

187,930

&nbsp;&nbsp;&nbsp;&nbsp;Class

R

...............................................................

—

21,399

Transfer

agent

fees:

(Note

3e)

&nbsp;&nbsp;&nbsp;&nbsp;Class

A

...............................................................

—

539,895

&nbsp;&nbsp;&nbsp;&nbsp;Class

C

...............................................................

—

27,689

Class

R

...............................................................

—

6,372

&nbsp;&nbsp;&nbsp;&nbsp;Class

R6

..............................................................

—

53,735

&nbsp;&nbsp;&nbsp;&nbsp;Advisor

Class

...........................................................

—

513,650

Transfer

agent

fees:

(Not

e

3e)

................................................

18,195

—

Custodian

fees

...........................................................

3,534

25,348

Reports

to

shareholders

fees

.................................................

7,559

78,454

Registration

and

filing

fees

...................................................

55,394

162,022

Professional

fees

..........................................................

147,833

88,020

Trustees'

fees

and

expenses

.................................................

1,074

13,261

Other

...................................................................

14,595

57,106

Total

expenses

........................................................

955,511

9,453,258

Expenses

waived/paid

by

affiliates

(Note

f

and

g)

.............................

(123,432)

(765,849)

Net

expenses

........................................................

832,079

8,687,409

Net

investment

income

...............................................

7,158,131

1,441,169

Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

(net

of

foreign

taxes

of

$10,751

and

$–,

respectively)

Unaffiliated

issuers

.....................................................

(91,577)

50,404,386

Foreign

currency

transactions

...............................................

(33,463)

(165,160)

Forward

exchange

contracts

................................................

(636,800)

—

Net

realized

gain

(loss)

.................................................

(761,840)

50,239,226

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

.....................................................

2,825,868

(10,330,676)

Translation

of

other

assets

and

liabilities

denominated

in

foreign

currencies

.............

(5,367)

61,387

Forward

exchange

contracts

................................................

213,528

—

Change

in

deferred

taxes

on

unrealized

appreciation

..............................

5,914

—

Net

change

in

unrealized

appreciation

(depreciation)

...........................

3,039,943

(10,269,289)

Net

realized

and

unrealized

gain

(loss)

...........................................

2,278,103

39,969,937

Net

increase

(decrease)

in

net

assets

resulting

from

operations

.........................

$9,436,234

$41,411,106

a

Consolidated

financial

statement.

See

Note

1(f).

Franklin

Global

Trust

Financial

Statements

Statements

of

Changes

in

Net

Assets

ftinstitutional.com

\|

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### a

#### Franklin

#### International

#### Growth

#### Fund

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### Year

#### Ended

#### July

#### 31,

#### 2024

#### Year

#### Ended

#### July

#### 31,

#### 2025

#### Year

#### Ended

#### July

#### 31,

#### 2024
Increase

(decrease)

in

net

assets:

Operations:

Net

investment

income

............

$7,158,131

$3,565,934

$1,441,169

$1,177,644

Net

realized

gain

(loss)

............

(761,840)

(2,392,676)

50,239,226

92,435,844

Net

change

in

unrealized

appreciation

(depreciation)

.................

3,039,943

4,349,714

(10,269,289)

(87,283,791)

Net

increase

(decrease)

in

net

assets

resulting

from

operations

.

9,436,234

5,522,972

41,411,106

6,329,697

Distributions

to

shareholders:

Class

A

........................

—

—

(6,440,770)

—

Class

C

........................

—

—

(181,399)

—

Class

R

........................

—

—

(63,195)

—

Class

R6

.......................

—

—

(3,470,484)

—

Advisor

Class

...................

—

—

(6,982,478)

—

Distributions

to

shareholders

.........

(3,296,796)

(1,425,538)

—

—

Total

distributions

to

shareholders

.....

(3,296,796)

(1,425,538)

(17,138,326)

—

Capital

share

transactions:

(Note

2)

Class

A

........................

—

—

(50,621,890)

(82,621,681)

Class

C

........................

—

—

(5,305,016)

(6,492,102)

Class

R

........................

—

—

(187,610)

(1,096,127)

Class

R6

.......................

—

—

(40,862,889)

(132,245,861)

Advisor

Class

...................

—

—

(83,720,644)

(369,269,735)

Capital

share

transactions:

(Not

e

2)

....

32,079,473

23,104,370

—

—

Total

capital

share

transactions

.......

32,079,473

23,104,370

(180,698,049)

(591,725,506)

Net

increase

(decrease)

in

net

assets

.....................

38,218,911

27,201,804

(156,425,269)

(585,395,809)

Net

assets:

Beginning

of

year

..................

68,317,824

41,116,020

1,016,026,021

1,601,421,830

End

of

year

......................

$106,536,735

$68,317,824

$859,600,752

$1,016,026,021

a

Consolidated

financial

statement.

See

Note

1(f).

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
Franklin

Global

Trust

(Trust)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

an

open-

end

management

investment

company,

consisting

of two

separate

funds

(Funds).

The Funds

follow

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and apply

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946. Franklin

International

Growth

Fund offers

five

classes

of

shares:

Class

A,

Class

C,

Class

R,

Class

R6

and

Advisor

Class.

Class

C

shares

automatically

convert

to

Class

A

shares

on

a

monthly

basis,

after

they

have

been

held

for

years. Each

class

of

shares

may

differ

by

its

initial

sales

load,

contingent

deferred

sales

charges,

voting

rights

on

matters

affecting

a

single

class,

its

exchange

privilege

and

fees

due

to

differing

arrangements

for

distribution

and

transfer

agent

fees.

The

following

summarizes

the Funds'

significant

accounting

policies

.

a. #### Financial

#### Instrument

#### Valuation
The Funds'

investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The Funds calculate the

net

asset

value

(NAV)

per

share

each

business

day

as

of

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier. Under

compliance

policies

and

procedures

approved

by

the

Trust's

Board

of

Trustees

(the

Board),

the

Board

has

designated

the

Funds'

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Funds'

administrator

in

performing

this

responsibility,

including

leading

the

cross-

functional

Valuation

Committee

(VC).

The

Funds

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value.

Equity

securities

listed

on

an

exchange

or

on

the

NASDAQ

National

Market

System

are

valued

at

the

last

quoted

sale

price

or

the

official

closing

price of

the

day,

respectively.

Foreign

equity

securities

are

valued

as

of

the

close

of

trading

on

the

foreign

stock

exchange

on

which

the

security

is

primarily

traded,

or

as

of

p.m.

Eastern

time.

The

value

is

then

converted

into

its

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

p.m.

Eastern

time

on

the

day

that

the

value

of

the

security

is

determined.

Over-the-counter

(OTC)

securities

are

valued

within

the

range

of

the

most

recent

quoted

bid

and

ask

prices.

Securities

that

trade

in

multiple

markets

or

on

multiple

exchanges

are

valued

according

to

the

broadest

and

most

representative

market.

Certain

equity

securities

are

valued

based

upon

fundamental

characteristics

or

relationships

to

similar

securities.

Debt

securities

generally

trade

in

the

OTC

market rather

than

on

a

securities

exchange.

The

Funds'

pricing

services

use

multiple

valuation

techniques

to

determine

fair

value.

In

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

a

market-based

approach

through

which

quotes

from

market

makers

are

used

to

determine

fair

value.

In

instances

where

sufficient

market

activity

may

not

exist

or

is

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

as

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

of

principal

repayments,

underlying

collateral,

and

other

unique

security

features

in

order

to

estimate

the

relevant

cash

flows,

which

are

then

discounted

to

calculate

the

fair

value.

Securities

denominated

in

a

foreign

currency

are

converted

into

their

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

p.m.

Eastern

time

on

the

date

that

the

values

of

the

foreign

debt

securities

are

determined.

Investments

in open-end mutual

funds

are

valued

at

the

closing

NAV.

Certain

derivative

financial

instruments

trade

in

the

OTC

market.

The

Funds'

pricing

services

use

various

techniques

including

industry

standard

option

pricing

models

and

proprietary

discounted

cash

flow

models

to

determine

the

fair

value

of

those

instruments.

The

Funds'

net

benefit

or

obligation

under

the

derivative

contract,

as

measured

by

the

fair

value

of

the

contract,

is

included

in

net

assets.

The

Funds

have

procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the

Funds

primarily

employ

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

to

determine

the

fair

value

of

the

investment.

An

income-based

valuation

approach

may

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

also

be

used

in

which

the

anticipated

future

cash

flows

of

the

investment

are

discounted

to

calculate

fair

value.

Discounts

may

also

be

applied

due

to

the

nature

or

duration

of

any

restrictions

on

the

disposition

of

the

investments.

Due

to

the

inherent

uncertainty

of

valuations

of

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

an

active

market

existed.

Trading

in

securities

on

foreign

securities

stock

exchanges

and

OTC

markets

may

be

completed

before

p.m.

Eastern

time.

In

addition,

trading

in

certain

foreign

markets

may

not

take

place

on

every

Funds'

business

day.

Events

can occur

between

the

time

at

which

trading

in

a

foreign

security

is

completed

and

p.m.

Eastern

time

that

might

call

into

question

the

reliability

of

the

value

of

a

portfolio

security

held

by

the

Fund.

As

a

result,

differences

may

arise

between

the

value

of

the

Funds'

portfolio

securities

as

determined

at

the

foreign

market

close

and

the

latest

indications

of

value

at

p.m.

Eastern

time.

In

order

to

minimize

the

potential

for

these

differences,

an

independent

pricing

service

may

be

used

to

adjust

the

value

of

the

Funds'

portfolio

securities

to

the

latest

indications

of

fair

value

at

p.m.

Eastern

time.

At

July

31,

2025,

certain

securities

may

have

been

fair

valued

using

these

procedures,

in

which

case

the

securities

were

categorized

as

Level

within

the

fair

value

hierarchy

(referred

to

as

"market

level

fair

value").

See

the

Fair

Value

Measurements

note

for

more

information.

When

the

last

day

of

the

reporting

period

is

a

non-business

day,

certain

foreign

markets

may

be

open

on

those

days

that

the

Funds'

NAV

is

not

calculated,

which

could

result

in

differences

between

the

value

of

the

Funds'

portfolio

securities

on

the

last

business

day

and

the

last

calendar

day

of

the

reporting

period.

Any

security

valuation

changes

due

to

an

open

foreign

market

are

adjusted

and

reflected

by

the

Funds

for

financial

reporting

purposes.

b. #### Foreign

#### Currency

#### Translation
Portfolio

securities

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

based

on

the

exchange

rate

of

such

currencies

against

U.S.

dollars

on

the

date

of

valuation.

The

Funds

may

enter

into

foreign

currency

exchange

contracts

to

facilitate

transactions

denominated

in

a

foreign

currency.

Purchases

and

sales

of

securities,

income

and

expense

items

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

in

effect

on

the

transaction

date.

Portfolio

securities

and

assets

and

liabilities

denominated

in

foreign

currencies

contain

risks

that

those

currencies

will

decline

in

value

relative

to

the

U.S.

dollar.

Occasionally,

events

may

impact

the

availability

or

reliability

of

foreign

exchange

rates

used

to

convert

the

U.S.

dollar

equivalent

value.

If

such

an

event

occurs,

the

foreign

exchange

rate

will

be

valued

at

fair

value

using

procedures

established

and

approved

by

the

Board.

The

Funds

do

not

separately

report

the

effect

of

changes

in

foreign

exchange

rates

from

changes

in

market

prices

on

securities

held.

Such

changes

are

included

in

net

realized

and

unrealized

gain

or

loss

from

investments

in

the

Statements

of

Operations.

Realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

between

the

trade

and

settlement

dates

on

securities

transactions

and

the

difference

between

the

recorded

amounts

of

dividends,

interest,

and

foreign

withholding

taxes

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

foreign

exchange

rates

on

foreign

denominated

assets

and

liabilities

other

than

investments

in

securities

held

at

the

end

of

the

reporting

period.

c. #### Securities

#### Purchased

#### on

#### a

#### When-Issued,

#### Forward Commitment or

#### Delayed

#### Delivery

#### Basis

#### and

#### TBA

#### Basis
Certain

or

all

Funds

may

purchase

securities

on

a

when-

issued,

forward

commitment

or

delayed

delivery

basis,

with

payment

and

delivery

scheduled

for

a

future

date.

These

transactions

are

subject

to

market

fluctuations

and

are

subject

to

the

risk

that

the

value

at

delivery

may

be

more

or

less

than

the

trade

date

purchase

price.

Although

the

Funds

will

generally

purchase

these

securities

with

the

intention

of

holding

the

securities, they

may

sell

the

securities

before

the

settlement

date.

d. #### Derivative

#### Financial

#### Instruments
Certain

or

all

Funds

invested

in

derivative

financial

instruments

in

order

to

manage

risk

or

gain

exposure

to

various

other

investments

or

markets.

Derivatives

are

financial

contracts

based

on

an

underlying

or

notional

amount,

require

no

initial

investment

or

an

initial

net

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

a. #### Financial

#### Instrument

#### Valuation
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

investment

that

is

smaller

than

would

normally

be

required

to

have

a

similar

response

to

changes

in

market

factors,

and

require

or

permit

net

settlement.

Derivatives

contain

various

risks

including

the

potential

inability

of

the

counterparty

to

fulfill

their

obligations

under

the

terms

of

the

contract,

the

potential

for

an

illiquid

secondary

market,

and/or

the

potential

for

market

movements

which

expose

the

Fund

to

gains

or

losses

in

excess

of

the

amounts

shown

in

the

Statements

of

Assets

and

Liabilities.

Realized

gain

and

loss

and

unrealized

appreciation

and

depreciation

on

these

contracts

for

the

period

are

included

in

the

Statements

of

Operations.

Derivative

counterparty

credit

risk

is

managed

through

a

formal

evaluation

of

the

creditworthiness

of

all

potential

counterparties.

Certain

or

all Funds

attempt

to

reduce their

exposure

to

counterparty

credit

risk

on

OTC

derivatives,

whenever

possible,

by

entering

into

International

Swaps

and

Derivatives

Association

(ISDA)

master

agreements

with

certain

counterparties.

These

agreements

contain

various

provisions,

including

but

not

limited

to

collateral

requirements,

events

of

default,

or

early

termination.

Termination

events

applicable

to

the

counterparty

include

certain

deteriorations

in

the

credit

quality

of

the

counterparty.

Termination

events

applicable

to

the

Funds

include

failure

of

the

Funds

to

maintain

certain

net

asset

levels

and/or

limit

the

decline

in

net

assets

over

various

periods

of

time.

In

the

event

of

default

or

early

termination,

the

ISDA

master

agreement

gives

the

non-defaulting

party

the

right

to

net

and

close-out

all

transactions

traded,

whether

or

not

arising

under

the

ISDA

agreement,

to

one

net

amount

payable

by

one

counterparty

to

the

other.

However,

absent

an

event

of

default

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

in

the

Statements

of

Assets

and

Liabilities.

Early

termination

by

the

counterparty

may

result

in

an

immediate

payment

by

the

Funds

of

any

net

liability

owed

to

that

counterparty

under

the

ISDA

agreement.

Collateral

requirements

differ

by

type

of

derivative.

Collateral

terms

are

contract

specific

for

OTC

derivatives.

For

OTC

derivatives

traded

under

an

ISDA

master

agreement,

posting

of

collateral

is

required

by

either

the

Fund

or

the

applicable

counterparty

if

the

total

net

exposure

of

all

OTC

derivatives

with

the

applicable

counterparty

exceeds

the

minimum

transfer

amount,

which

typically

ranges

from

$100,000

to

$250,000,

and

can

vary

depending

on

the

counterparty

and

the

type

of agreement.

Generally,

collateral

is

determined

at

the

close

of

Fund

business

each

day

and

any

additional

collateral

required

due

to

changes

in

derivative

values

may

be

delivered

by

the

Fund

or

the

counterparty

the

next

business

day,

or

within

a

few

business

days.

Collateral

pledged

and/or

received

by

the

Fund,

if

any,

is

held

in

segregated

accounts

with

the

Fund's

custodian/counterparty

broker

and

can

be

in

the

form

of

cash

and/or

securities.

Unrestricted

cash

may

be

invested

according

to

the

Funds'

investment

objectives.

To

the

extent

that

the

amounts

due

to

the

Fund

from

its

counterparties

are

not

subject

to

collateralization

or

are

not

fully

collateralized,

the

Fund

bears

the

risk

of

loss

from

counterparty

non-performance.

Certain

or

all

Funds

entered

into

OTC

forward

exchange

contracts

primarily

to

manage

and/or

gain

exposure

to

certain

foreign

currencies.

A

forward

exchange

contract

is

an

agreement

between

the

Fund

and

a

counterparty

to

buy

or

sell

a

foreign

currency at

a

specific

exchange

rate

on

a

future

date. Forward

exchange

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Funds'

Schedule

of

Investments.

Certain

or

all

Funds

invest

in

value

recovery

instruments

(VRI)

primarily

to

gain

exposure

to

economic

growth.

Periodic

payments

from

VRI

are

dependent

on

established

benchmarks

for

underlying

variables.

VRI

has

a

notional

amount,

which

is

used

to

calculate

amounts

of

payments

to

holders.

Payments

are

recorded

upon

receipt

as

realized

gains

in

the

Statements

of

Operations.

The

risks

of

investing

in

VRI

include

growth

risk,

liquidity,

and

the

potential

loss

of

investment.

VRI

outstanding

at

period

end,

if

any,

are

listed

in

the

Funds'

Schedules

of

Investments.

e. #### Loan

#### Participation

#### Notes
Certain

or

all

Funds may

invest

in

debt

instruments

which

are

interests

in

amounts

owed

to

lenders

or

lending

syndicates

by

corporate,

governmental,

or

other

borrowers.

The

Funds

investments

in

loans

may

be

in

the

form

of

participations

in

loans

or

assignments

of

all

or

portion

of

loans

from

third

parties.

A

loan

is

often

administered

by

a

bank

or

other

financial

institution

(the

Lender)

that

acts

as

agent

for

all

holders.

The

agent

administers

the

terms

of

the

loan,

as

specified

in

the

loan

agreement.

The

Funds

may

invest

in

multiple

series

or

tranches

of

a

loan,

which

may

have

varying

terms

and

carry

different

associated

risks.

When

investing

in

a

loan

participation, the

Funds

have

the

right

to

receive

payments

of

principal,

interest

and

any

fees

only

from

the

lender

selling

the

loan

and

only

upon

receipt

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

d. #### Derivative

#### Financial

#### Instruments
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

of

payments

from

the

borrower.

The

Funds

generally

have

no

right

to

enforce

compliance

with

the

terms

of

the

loan

agreement

with

the

borrower.

As

a

result,

the

Funds

may

be

subject

to

credit

risk

of

both

the

borrower

and

the

lender

that

is

selling

the

loan.

When

the

Funds

purchase

assignments

from

lenders they

acquire

direct

rights

against

the

borrower

of

the

loan.

f. #### Investments

#### in

#### Alternative

#### Strategies
(FT)

#### Ltd.

#### (FT

#### Subsidiary)
Certain

or

all

Funds

may

invests

in

certain

financial

instruments,

warrants

or

commodities

through

its

investments

in

FT

Subsidiary.

FT

Subsidiary

is

a

Cayman

Islands

exempted

company

with

limited

liability,

is

a

wholly-

owned

subsidiary

of

the

Fund,

and

is

able

to

invest

in

certain

financial

instruments

consistent

with

the

investment

objective

of

the

Fund.

At

July

31,

2025,

FT

Subsidiary's

investments,

as

well

as

any

other

assets

and

liabilities

of

FT

Subsidiary

are

reflected

in

the

Fund's

Consolidated

Schedule

of

Investments

and

Consolidated

Statement

of

Assets

and

Liabilities.

All

intercompany

transactions

and

balances

have

been

eliminated.

At

July

31,

2025,

the

net

assets

of

FT

Subsidiary

were

$693,789,

representing 0.65% of

the

Fund's

consolidated

net

assets.

The

Fund's

investment

in

FT

Subsidiary

is

limited

to

25%

of

consolidated

assets.

g. #### Income

#### and

#### Deferred

#### Taxes
It

is each

Fund's

policy

to

qualify

as

a

regulated

investment

company

under

the

Internal

Revenue

Code. Each

Fund

intends

to

distribute

to

shareholders

substantially

all

of

its

taxable

income

and

net

realized

gains

to

relieve

it

from

federal

income

and excise

taxes.

As

a

result,

no

provision

for

U.S.

federal

income

taxes

is

required.

The

Funds

may

be

subject

to

foreign

taxation

related

to

income

received,

capital

gains

on

the

sale

of

securities

and

certain

foreign

currency

transactions

in

the

foreign

jurisdictions

in

which

the

Funds

invest.

Foreign

taxes,

if

any,

are

recorded

based

on

the

tax

regulations

and

rates

that

exist

in

the

foreign

markets

in

which

the

Funds

invest.

When

a

capital

gain

tax

is

determined

to

apply,

certain

or

all

Funds

record

an

estimated

deferred

tax

liability

in

an

amount

that

would

be

payable

if

the

securities

were

disposed

of

on

the

valuation

date.

Each

Fund

may

recognize

an

income

tax

liability

related

to

its

uncertain

tax

positions

under

U.S.

GAAP

when

the

uncertain

tax

position

has

a

less

than

50%

probability

that

it

will

be

sustained

upon

examination

by

the

tax

authorities

based

on

its

technical

merits.

As

of

July

31,

2025, each

Fund

has

determined

that

no

tax

liability

is

required

in

its

financial

statements

related

to

uncertain

tax

positions

for

any

open

tax

years

(or

expected

to

be

taken

in

future

tax

years).

Open

tax

years

are

those

that

remain

subject

to

examination

and

are

based

on

the

statute

of

limitations

in

each

jurisdiction

in

which

the

Fund

invests.

h. #### Security

#### Transactions,

#### Investment

#### Income,

#### Expenses

#### and

#### Distributions
Security

transactions

are

accounted

for

on

trade

date.

Realized

gains

and

losses

on

security

transactions

are

determined

on

a

specific

identification basis.

Interest

income

(including

interest

income

from

payment-in-kind

securities,

if

any)

and

estimated

expenses

are

accrued

daily.

Amortization

of

premium

and

accretion

of

discount

on

debt

securities

are

included

in

interest

income.

Dividend

income

is recorded

on

the

ex-dividend

date

except

for

certain

dividends

from

securities

where

the

dividend

rate

is

not available.

In

such

cases,

the

dividend

is

recorded

as

soon

as

the

information

is

received

by

the Fund.

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

Distributions

from

realized

capital

gains

and

other

distributions,

if

any,

are

recorded

on

the

ex-dividend

date.

Distributable

earnings are

determined

according

to

income

tax

regulations

(tax

basis)

and

may

differ

from

earnings recorded

in

accordance

with

U.S.

GAAP.

These

differences

may

be

permanent

or

temporary.

Permanent differences

are

reclassified

among

capital

accounts

to

reflect

their

tax

character.

These reclassifications

have

no

impact

on

net

assets

or

the

results

of

operations.

Temporary

differences are

not

reclassified,

as

they

may

reverse

in

subsequent

periods.

Common

expenses

incurred

by

the

Trust

are

allocated

among

the

Funds

based

on

the

ratio

of

net

assets

of

each

Fund

to

the

combined

net

assets

of

the

Trust

or

based

on

the

ratio

of

number

of

shareholders

of

each

Fund

to

the

combined

number

of

shareholders

of

the

Trust.

Fund

specific

expenses

are

charged

directly

to

the

Fund

that

incurred

the

expense.

Realized

and

unrealized

gains

and

losses

and

net

investment

income,

excluding

class

specific

expenses,

are

allocated

daily

to

each

class

of

shares

based

upon

the

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

e. #### Loan

#### Participation

#### Notes
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

relative

proportion

of

net

assets

of

each

class.

Differences

in

per

share

distributions

by

class

are

generally

due

to

differences

in

class

specific

expenses.

Inflation-indexed

bonds

are

adjusted

for

inflation

through

periodic

increases

or

decreases

in

the

security's

interest

accruals,

face

amount,

or

principal

redemption

value,

by

amounts

corresponding

to

the

rate

of

inflation

as

measured

by

an

index.

Any

increase

or

decrease

in

the

face

amount

or

principal

redemption

value

will

be

included

as

interest

income in

the

Statements of

Operations.

i. #### Accounting

#### Estimates
The

preparation

of

financial

statements

in

accordance

with

U.S.

GAAP

requires

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

at

the

date

of

the

financial

statements

and

the

amounts

of

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

j. #### Guarantees

#### and

#### Indemnifications
Under

the Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

by

the Trust against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

Additionally,

in

the

normal

course

of

business,

the Trust,

on

behalf

of

the

Funds, enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Trust

that

have

not

yet

occurred.

Currently,

the Trust

expects

the

risk

of

loss

to

be

remote.

2. #### Shares

#### of

#### Beneficial

#### Interest
At

July

31,

2025,

there

were

an

unlimited

number

of

shares

authorized

(without

par value).

Transactions

in

the

Funds'

shares

were

as

follows:

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Shares

#### Amount
Advisor

Class

Year

ended

July

31,

2025

Shares

sold

...................................

4,456,531

$52,813,518

Shares

issued

in

reinvestment

of

distributions

..........

285,323

3,292,625

Shares

redeemed

...............................

(2,027,814)

(24,026,670)

Net

increase

(decrease)

..........................

2,714,040

$32,079,473

Year

ended

July

31,

2024

Shares

sold

...................................

6,040,052

$66,494,452

Shares

issued

in

reinvestment

of

distributions

..........

132,746

1,423,042

Shares

redeemed

...............................

(4,189,148)

(44,813,124)

Net

increase

(decrease)

..........................

1,983,650

$23,104,370

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

h. #### Security

#### Transactions,

#### Investment

#### Income,

#### Expenses

#### and

#### Distributions
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

#### Franklin

#### International

#### Growth

#### Fund

#### Shares

#### Amount
Class

A

#### Class

#### A

#### Shares:
Year

ended

July

31,

2025

Shares

sold

a

...................................

1,551,293

$26,595,021

Shares

issued

in

reinvestment

of

distributions

..........

394,160

6,409,036

Shares

redeemed

...............................

(4,898,185)

(83,625,947)

Net

increase

(decrease)

..........................

(2,952,732)

$(50,621,890)

Year

ended

July

31,

2024

Shares

sold

a

...................................

1,993,323

$31,472,003

Shares

redeemed

...............................

(7,271,995)

(114,093,684)

Net

increase

(decrease)

..........................

(5,278,672)

$(82,621,681)

Class

C

#### Class

#### C

#### Shares:
Year

ended

July

31,

2025

Shares

sold

...................................

71,891

$1,137,849

Shares

issued

in

reinvestment

of

distributions

..........

11,930

180,855

Shares

redeemed

a

..............................

(417,046)

(6,623,720)

Net

increase

(decrease)

..........................

(333,225)

$(5,305,016)

Year

ended

July

31,

2024

Shares

sold

...................................

160,881

$2,359,099

Shares

redeemed

a

..............................

(602,328)

(8,851,201)

Net

increase

(decrease)

..........................

(441,447)

$(6,492,102)

Class

R

#### Class

#### R

#### Shares:
Year

ended

July

31,

2025

Shares

sold

...................................

74,666

$1,275,881

Shares

issued

in

reinvestment

of

distributions

..........

3,959

63,195

Shares

redeemed

...............................

(89,564)

(1,526,686)

Net

increase

(decrease)

..........................

(10,939)

$(187,610)

Year

ended

July

31,

2024

Shares

sold

...................................

47,759

$734,741

Shares

redeemed

...............................

(118,511)

(1,830,868)

Net

increase

(decrease)

..........................

(70,752)

$(1,096,127)

Class

R6

#### Class

#### R6

#### Shares:
Year

ended

July

31,

2025

Shares

sold

...................................

1,285,731

$22,196,453

Shares

issued

in

reinvestment

of

distributions

..........

176,331

2,904,178

Shares

redeemed

...............................

(3,809,919)

(65,963,520)

Net

increase

(decrease)

..........................

(2,347,857)

$(40,862,889)

Year

ended

July

31,

2024

Shares

sold

...................................

2,322,713

$36,663,302

Shares

redeemed

...............................

(10,832,136)

(168,909,163)

Net

increase

(decrease)

..........................

(8,509,423)

$(132,245,861)

Advisor

Class

2. #### Shares

#### of

#### Beneficial

#### Interest
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

3. #### Transactions

#### with

#### Affiliates
Franklin

Resources,

Inc.

is

the

holding

company

for

various

subsidiaries

that

together

are

referred

to

as

Franklin

Templeton.

Certain

officers

and

trustees

of

the Trust are

also

officers

and/or

directors

of

the

following

subsidiaries:

a. #### Management

#### Fees
Franklin

Emerging

Market

Debt

Opportunities

Fund

pays

an

investment

management fee,

calculated

daily and

paid

monthly,

to FTIML based

on the

average

daily

net

assets

of

the

Fund

as

follows:

FT

Subsidiary pays

an

investment

management fee,

calculated

daily and

paid

monthly,

to FTIML based

on the

average

daily

net

assets

of

the

FT

Subsidiary as

follows:

#### Franklin

#### International

#### Growth

#### Fund

#### Shares

#### Amount

#### Advisor

#### Class

#### Shares:
Year

ended

July

31,

2025

Shares

sold

...................................

2,959,074

$51,019,666

Shares

issued

in

reinvestment

of

distributions

..........

314,519

5,164,402

Shares

redeemed

...............................

(8,140,877)

(139,904,712)

Net

increase

(decrease)

..........................

(4,867,284)

$(83,720,644)

Year

ended

July

31,

2024

Shares

sold

...................................

5,168,585

$80,269,463

Shares

redeemed

...............................

(29,677,277)

(449,539,198)

Net

increase

(decrease)

..........................

(24,508,692)

$(369,269,735)

a

May

include

a

portion

of

Class

C

shares

that

were

automatically

converted

to

Class

A. #### Subsidiary

#### Affiliation
Franklin

Templeton

Investment

Management

Limited

(FTIML)

Investment

manager

Franklin

Templeton

Institutional,

LLC

(FT

Institutional)

Investment

manager

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

Franklin

Distributors,

LLC

(Distributors)

Principal

underwriter

Franklin

Templeton

Investor

Services,

LLC

(Investor

Services)

Transfer

agent

#### Annualized

#### Fee

#### Rate

#### Net

#### Assets
0.850%

Up

to

and

including

$500

million

0.800%

Over

$500

million,

up

to

and

including

$1

billion

0.750%

In

excess

of

$1

billion

#### Annualized

#### Fee

#### Rate

#### Net

#### Assets
1.000%

Up

to

and

including

$500

million

0.900%

Over

$500

million,

up

to

and

including

$1

billion

0.850%

In

excess

of

$1

billion

2. #### Shares

#### of

#### Beneficial

#### Interest
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

Management

fees

paid

by

the

Fund

were

reduced

on

assets

invested

in

FT

Subsidiary,

in

an

amount

equal

to

the

management

fees

paid

by

FT

Subsidiary.

Franklin

International

Growth

Fund

pays

an

investment

management fee,

calculated

daily and

paid

monthly,

to FT

Institutional

based

on the

average

daily

net

assets

of

the

Fund

as

follows:

For

the

year

ended

July

31,

2025,

each

Fund's

gross

effective

investment

management

fee

rate

based

on

average

daily

net

assets

was

as

follows:

b. #### Administrative

#### Fees
Under

an

agreement

with

FTIML,

FT

Services

provides

administrative

services

to

the

Franklin

Emerging

Market

Debt

Opportunities Fund and

FT

Subsidiary.

The

fee

is

paid

by

FTIML

based

on

the

Fund's

and

FT

Subsidiary's average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund

or

FT

Subsidiary.

Under

an

agreement

with

FT

Institutional,

FT

Services

provides

administrative

services

to

the

Franklin

International

Growth

Fund.

The

fee

is

paid

by

FT

Institutional

based

on

the

Fund's

average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund.

c. #### Distribution

#### Fees
The

Board

for

Franklin

International

Growth

Fund

has

adopted

distribution

plans

for

each

share

class,

with

the

exception

of

Class

R6

and

Advisor

Class

shares,

pursuant

to

Rule

12b-1

under

the

1940

Act.

Under

the

Fund's

Class

A

reimbursement

distribution

plan,

the

Fund

reimburses

Distributors

for

costs

incurred

in

connection

with

the

servicing,

sale

and

distribution

of

the

Fund's

shares

up

to

the

maximum

annual

plan

rate.

Under

the

Class

A

reimbursement

distribution

plan,

costs

exceeding

the

maximum

for

the

current

plan

year

cannot

be

reimbursed

in

subsequent

periods.

In

addition,

under

the

Fund's

Class

C

and

R

compensation

distribution

plans,

the

Fund

pays

Distributors

for

costs

incurred

in

connection

with

the

servicing,

sale

and

distribution

of

the

Fund's

shares

up

to

the

maximum

annual

plan

rate

for

each

class.

The

plan

year,

for

purposes

of

monitoring

compliance

with

the

maximum

annual

plan

rates,

is

February

through

January

31. #### Annualized

#### Fee

#### Rate

#### Net

#### Assets
0.760%

Up

to

and

including

$500

million

0.740%

Over

$500

million,

up

to

and

including

$1

billion

0.720%

Over

$1

billion,

up

to

and

including

$1.5

billion

0.700%

Over

$1.5

billion,

up

to

and

including

$6.5

billion

0.675%

Over

$6.5

billion,

up

to

and

including

$11.5

billion

0.655%

Over

$11.5

billion,

up

to

and

including

$16.5

billion

0.635%

Over

$16.5

billion,

up

to

and

including

$19

billion

0.615%

Over

$19

billion,

up

to

and

including

$21.5

billion

0.600%

In

excess

of

$21.5

billion

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
Gross

effective

investment

management

fee

rate

........

0.850%

0.751%

3. #### Transactions

#### with

#### Affiliates
(continued)

a. #### Management

#### Fees
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

The

Board

has

set

the

current

rate

at

0.25%

per

year

for

Class

A

shares

until

further

notice

and

approval

by

the

Board.

d. #### Sales

#### Charges/Underwriting

#### Agreements
Front-end

sales

charges

and

contingent

deferred

sales

charges

(CDSC)

do

not

represent

expenses

of

the

Funds.

These

charges

are

deducted

from

the

proceeds

of

sales

of

fund

shares

prior

to

investment

or

from

redemption

proceeds

prior

to

remittance,

as

applicable.

Distributors

has

advised

Franklin

International

Growth

Fund

of

the

following

commission

transactions

related

to

the

sales

and

redemptions

of

its

shares

for

the

year:

e. #### Transfer

#### Agent

#### Fees
Each

class

of

shares

pays

transfer

agent

fees,

calculated

monthly

and

paid

monthly, to

Investor

Services

for

its

performance

of

shareholder

servicing

obligations. The

fees

are based

on

a

fixed

margin

earned

by

Investor

Services

and

are allocated

to

the Funds

based

upon

relative

assets

and

relative

transactions. In

addition,

each

class reimburses

Investor

Services

for

out

of

pocket

expenses

incurred

and,

except

for

Class

R6, reimburses

shareholder

servicing

fees

paid

to

third

parties.

These

fees

paid

to

third

parties

are

accrued

and

allocated

daily

based

upon

their

relative

proportion

of

such

classes'

aggregate

net

assets.

Class

R6

pays

Investor

Services

transfer

agent

fees

allocated

specifically

to

that

class

based

upon

its

relative

assets

and

relative

transactions.

For

the

year

ended

July

31,

2025,

the Funds

paid

transfer

agent

fees

as

noted

in

the

Statements of

Operations

of

which

the

following

amounts

were

retained

by

Investor

Services:

#### Franklin

#### International

#### Growth

#### Fund
Class

A

..................................................................................

0.35%

Class

C

..................................................................................

1.00%

Class

R

..................................................................................

0.50%

#### Franklin

#### International

#### Growth

#### Fund
Sales

charges

retained

net

of

commissions

paid

to

unaffiliated

brokers/dealers

..................

$33,309

CDSC

retained

...........................

$1,522

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
Transfer

agent

fees

........................

$18,195

$320,139

3. #### Transactions

#### with

#### Affiliates
(continued)

c. #### Distribution

#### Fees
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

f. #### Investments

#### in

#### Affiliated

#### Management

#### Investment

#### Companies
Certain

or

all

Funds

invest

in

one

or

more

affiliated

management

investment

companies.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

"Controlled

Affiliate"

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund's

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Funds

do

not

invest

for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

Management

fees

paid

by

the

Funds

are

waived

on

assets

invested

in

the

affiliated

management

investment

companies,

as

noted

in

the

Statements

of

Operations,

in

an

amount

not

to

exceed

the

management

and

administrative

fees,

if

applicable, paid

directly

or

indirectly

by

each

affiliate.

During

the

year

ended

July

31,

2025,

investments

in

affiliated

management

investment

companies

were

as

follows:

g. #### Waiver

#### and

#### Expense

#### Reimbursements
FTIML has contractually

agreed

in

advance

to

waive

or

limit

its fees

and

to

assume

as

its

own

expense

certain

expenses

otherwise

payable

by

the Franklin

Emerging

Market

Debt

Opportunities

Fund

so

that

the

operating expenses

(excluding

interest

expense,

acquired

fund

fees

and

expenses

and

certain

non-routine

expenses

or

costs,

including

those

relating

to

litigation,

indemnification,

reorganizations,

and

liquidations)

of

the

Fund

do

not

exceed 1.00%,

based

on

the

average

net

assets

until November

30,

2025. Total

expenses

waived

or

paid

are

not

subject

to

recapture

subsequent

to

the

Fund's

fiscal

year

end.

FT

Institutional has contractually

agreed

in

advance

to

waive

or

limit

its fees

and

to

assume

as

its

own

expense

certain

expenses

otherwise

payable

by

the Franklin

International

Growth

Fund

so

that

the

operating expenses

(excluding

interest

expense,

distribution

fees,

acquired

fund

fees

and

expenses

and

certain

non-routine

expenses

or

costs,

including

those

relating

to

litigation,

indemnification,

reorganizations,

and

liquidations)

for Class

A,

Class

C,

Class

R

and

Advisor

Class

of

the Fund

do

not

exceed 0.86%

and

for

Class

R6

do

not

exceed

0.75%

based

on

the

average

net

assets

of

each

class

until November

30,

2025. Total

expenses

waived

or

paid

are

not

subject

to

recapture

subsequent

to

the

Fund's

fiscal

year

end.

Transfer

agent

fees

on

Class

R6

shares

of

Franklin

International

Growth

Fund

have

been

capped

so

that

transfer

agent

fees

for

that

class

do

not

exceed

0.02%

based

on

the

average

net

assets

of

the

class

until

November

30,

2025. #### &nbsp;&nbsp;&nbsp;&nbsp;aa

#### Value

#### at

#### Beginning

#### of

#### Year

#### Purchases

#### Sales

#### Realized

#### Gain
(Loss)

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### Value

#### at

#### End

#### of

#### Year

#### Number

#### of

#### Shares

#### Held

#### at

#### End

#### of

#### Year

#### Investment

#### Income

#### a&nbsp;&nbsp;&nbsp;&nbsp;

#### a

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Non-Controlled

#### Affiliates
Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.254%

$4,436,272

$55,021,168

$(52,787,446)

$—

$—

$6,669,994

6,669,994

$198,766

#### Total

#### Affiliated

#### Securities

#### ...
$4,436,272

$55,021,168

$(52,787,446)

$—

$—

$6,669,994

$198,766

#### Franklin

#### International

#### Growth

#### Fund

#### Non-Controlled

#### Affiliates
Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.254%

$8,423,880

$277,151,559

$(270,283,954)

$—

$—

$15,291,485

15,291,485

$852,025

#### Total

#### Affiliated

#### Securities

#### ...
$8,423,880

$277,151,559

$(270,283,954)

$—

$—

$15,291,485

$852,025

3. #### Transactions

#### with

#### Affiliates
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

4. #### Income

#### Taxes
For

tax

purposes,

capital

losses

may

be

carried

over

to

offset

future

capital

gains.

At

July

31,

2025,

the

capital

loss

carryforwards

were

as

follows:

During

the

year

ended July

31,

2025,

the

utilized

capital

loss

carryforwards

were

as

follows:

The

tax

character

of

distributions

paid

during

the

years

ended

July

31,

2025

and

2024,

was

as

follows:

At

July

31,

2025,

the

cost

of

investments,

net

unrealized

appreciation

(depreciation),

undistributed

ordinary

income

and

undistributed

long

term

capital

gains for

income

tax

purposes

were

as

follows:

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund

Capital

loss

carryforwards

not

subject

to

expiration:

Short

term

.............................

$

13,605,730

$

—

Long

term

.............................

61,664,849

—

Total

capital

loss

carryforwards

............

$75,270,579

$—

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
Capital

loss

utilized

carryforwards

....

$660,659

$30,263,382

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund

#### 2025

#### 2024

#### 2025

#### 2024
Distributions

paid

from:

Ordinary

income

........................

$3,296,796

$1,425,538

$17,138,326

$—

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
a

a

a

Cost

of

investments

.......................

$147,522,956

$640,631,980

Unrealized

appreciation

.....................

$5,641,394

$297,004,736

Unrealized

depreciation

.....................

(47,691,981)

(78,665,054)

Net

unrealized

appreciation

(depreciation)

.......

$(42,050,587)

$218,339,682

Distributable

earnings:

Undistributed

ordinary

income

................

$8,006,907

$3,265,991

Undistributed

long

term

capital

gains

...........

—

20,109,911

Total

distributable

earnings

..................

$8,006,907

$23,375,902

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

Differences

between

income

and/or

capital

gains

as

determined

on

a

book

basis

and

a

tax

basis

are

primarily

due

to

differing

treatments

of

defaulted

securities,

foreign

currency

transactions,

wash

sales,

passive

foreign

investment

company

shares,

paydown

losses,

payments-in-kind,

bond

discounts

and

premiums,

tax

straddles,

investments

in

the

Alternative

Strategies

Fund

and

inflation

adjustments.

5. #### Investment

#### Transactions
Purchases

and

sales

of

investments

(excluding

short

term

securities)

for

the

year

ended

July

31,

2025,

were

as

follows:

6. #### Credit

#### Risk

#### and

#### Defaulted

#### Securities
At

July

31,

2025,

Franklin

Emerging

Market

Debt

Opportunities

Fund

had

69.8%

of

its

portfolio

invested

in

high

yield

securities

rated

below

investment

grade

and

unrated

securities.

These

securities

may

be

more

sensitive

to

economic

conditions

causing

greater

price

volatility

and

are

potentially

subject

to

a

greater

risk

of

loss

due

to

default

than

higher

rated

securities.

Certain

or

all

Funds

held

defaulted

securities

and/or

other

securities

for

which

the

income

has

been

deemed

uncollectible.

At

July

31,

2025,

the

aggregate

value

of

these

securities

for

Franklin

Emerging

Market

Debt

Opportunities

Fund

was

$4,903,052,

representing

4.6%

of

the

Fund's

net

assets.

The

Funds

discontinue

accruing

income

on

securities

for

which

income

has

been

deemed

uncollectible

and

provides

an

estimate

for

losses

on

interest

receivable.

The

securities

have

been

identified

in

the

accompanying

Schedules

of

Investments.

7. #### Concentration

#### of

#### Risk
Investing

in

foreign

securities

may

include

certain

risks

and

considerations

not

typically

associated

with

investing

in

U.S.

securities,

such

as

fluctuating

currency

values

and

changing

local,

regional

and

global

economic,

political

and

social

conditions,

which

may

result

in

greater

market

volatility.

Political

and

financial

uncertainty

in

many

foreign

regions

may

increase

market

volatility

and

the

economic

risk

of

investing

in

foreign

securities.

In

addition,

certain

foreign

securities

may

not

be

as

liquid

as

U.S.

securities.

Investments

in

issuers

domiciled

or

with

significant

operations

in

developing

or

emerging

market

countries

may

be

subject

to

higher

risks

than

investments

in

developed

countries.

These

risks

include

fluctuating

currency

values,

underdeveloped

legal

or

business

systems,

and

changing

local

and

regional

economic,

political

and

social

conditions,

which

may

result

in

greater

market

volatility.

In

addition,

certain

foreign

securities

may

not

be

as

liquid

as

U.S.

securities.

Currencies

of

developing

or

emerging

market

countries

may

be

subject

to

significantly

greater

risks

than

currencies

of

developed

countries,

including

the

potential

inability

to

repatriate

those

currencies

into

U.S.

dollars.

Russia's

military

invasion

of

Ukraine

in

February

2022,

the

resulting

responses

by

the

United

States

and

other

countries,

and

the

potential

for

wider

conflict

could

increase

volatility

and

uncertainty

in

the

financial

markets

and

adversely

affect

regional

and

global

economies.

The

United

States

and

other

countries

have

imposed

broad-ranging

economic

sanctions

on

Russia

and

certain

Russian

individuals,

banking

entities

and

corporations

as

a

response

to

its

invasion

of

Ukraine.

The

United

States

and

other

countries

have

also

imposed

economic

sanctions

on

Belarus

and

may

impose

sanctions

on

other

countries

that

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
Purchases

..............................

$58,864,454

$227,199,740

Sales

..................................

$29,327,722

$418,120,342

4. #### Income

#### Taxes
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

support

Russia's

military

invasion.

These

sanctions,

as

well

as

any

other

economic

consequences

related

to

the

invasion,

such

as

additional

sanctions,

boycotts

or

changes

in

consumer

or

purchaser

preferences

or

cyberattacks

on

governments,

companies

or

individuals,

may

further

decrease

the

value

and

liquidity

of

certain

Russian

securities

and

securities

of

issuers

in

other

countries

that

are

subject

to

economic

sanctions

related

to

the

invasion.

To

the

extent

that

the

Funds

have

exposure

to

Russian

investments

or

investments

in

countries

affected

by

the

invasion,

the

Funds'

ability

to

price,

buy,

sell,

receive

or

deliver

such

investments

was

impaired.

The

Funds

could

determine

at

any

time

that

certain

of

the

most

affected

securities

have

little

or

no

value.

In

addition,

any

exposure

that

the

Fund

may

have

to

counterparties

in

Russia

or

in

countries

affected

by

the

invasion

could

negatively

impact

the

Fund's

portfolio.

The

extent

and

duration

of

Russia's

military

actions

and

the

repercussions

of

such

actions

(including

any

retaliatory

actions

or

countermeasures

that

may

be

taken

by

those

subject

to

sanctions)

are

impossible

to

predict,

but

could

result

in

significant

market

disruptions,

including

in

the

oil

and

natural

gas

markets,

and

may

negatively

affect

global

supply

chains,

inflation

and

global

growth.

These

and

any

related

events

could

significantly

impact

the

Funds'

performance

and

the

value

of

an

investment

in

the

Fund,

even

beyond

any

direct

exposure

the

Funds

may

have

to

Russian

issuers

or

issuers

in

other

countries

affected

by

the

invasion.

At

July

31,

2025,

Franklin

Emerging

Market

Debt

Opportunities

Fund

had

0.0%

of

its

net

assets

invested

in

securities

with

significant

economic

risk

or

exposure

to

Russia.

8. #### Restricted

#### Securities
Certain

or

all

Funds

invest

in

securities

that

are

restricted

under

the

Securities

Act

of

1933

(1933

Act).

Restricted

securities

are

often

purchased

in

private

placement

transactions,

and

cannot

be

sold

without

prior

registration

unless

the

sale

is

pursuant

to

an

exemption

under

the

1933

Act.

Disposal

of

these

securities

may

require

greater

effort

and

expense,

and

prompt

sale

at

an

acceptable

price

may

be

difficult.

The

Funds

may

have

registration

rights

for

restricted

securities.

The

issuer

generally

incurs

all

registration

costs.

At

July

31,

2025,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

1933

Act,

were

as

follows:

See

abbreviations

on

page

38. #### Principal

#### Amount

#### \*

#### /

#### Shares

#### Issuer

#### Acquisition

#### Date

#### Cost

#### Value

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
193,625

Astana

Finance

JSC,

GDR,

144A

................

5/22/15

$

—

$

—

55,882,058

a

K2016470219

South

Africa

Ltd.,

A

...............

2/08/13

-

2/01/17

429,249

—

5,561,052

a

K2016470219

South

Africa

Ltd.,

B

...............

2/01/17

4,129

—

8,000,000

Sphynx

Capital

Markets

PCC

(National

Investment

Bank

of

Ghana),

PTN,

Secured

Note,

Reg.

S,

Zero

Cpn

.,

2/05/09

..................................

10/12/09

-

10/13/11

3,100,000

—

#### Total

#### Restricted

#### Securities
(Value

is

—%

of

Net

Assets)

#### ...............
$3,533,378

$—

\*

In

U.S.

dollars

unless

otherwise

indicated.

a

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$3,982

as

of

July

31,

2025. 7. #### Concentration

#### of

#### Risk
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

9. #### Other

#### Derivative

#### Information
At

July

31,

2025,

investments

in

derivative

contracts

are

reflected

in

the

Statements

of

Assets

and

Liabilities

as

follows:

For

the

year

ended

July

31,

2025,

the

effect

of

derivative

contracts

in

the

Statements

of

Operations

was

as

follows:

For

the

year

ended

July

31,

2025

,

the

average

month

end contract

value

and

fair

value

of

forward

exchange contracts

and

VRI

were

as

follows:

See

Note

1(d) regarding

derivative

financial

instruments.

See

abbreviations

on

page

38. #### Asset

#### Derivatives

#### Liability

#### Derivatives

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Consolidated

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Consolidated

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
Foreign

exchange

contracts

..

Unrealized

appreciation

on

OTC

forward

exchange

contracts

$

223,448

Unrealized

depreciation

on

OTC

forward

exchange

contracts

$

28,769

Value

recovery

instruments

...

Investments

in

securities,

at

value

1,451,921

a

Investments

in

securities,

at

value

—

Total

....................

$1,675,369

$28,769

a

VRI

are

included

in

investments

in

securities,

at

value

in

the

Statements

of

Assets

and

Liabilities.

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Consolidated

#### Statement

#### of

#### Operations

#### Location

#### Net

#### Realized

#### Gain
(Loss)

#### for

#### the

#### Year

#### Consolidated

#### Statement

#### of

#### Operations

#### Location

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### for

#### the

#### Year

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
Net

realized

gain

(loss)

from:

Net

change

in

unrealized

&nbsp;&nbsp;&nbsp;&nbsp;appreciation

(depreciation)

on:

Foreign

exchange

contracts

.....

Forward

exchange

contracts

$(636,800)

Forward

exchange

contracts

$213,528

Value

recovery

instruments

Investments

—

Investments

$278,709

a

Total

.......................

$(636,800)

$492,237

a

VRI

are

included

in

net

realized

gain

(loss)

from

investments

and

net

change

in

unrealized

appreciation

(depreciation)

on

investments

in

the

Statements

of

Operations.

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
Forwards

exchange

contracts

.................

$

14,887,555

VRI

.....................................

1,452,555

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

10. #### Credit

#### Facility
The

Funds,

together

with

other

U.S.

registered

and

foreign

investment

funds

(collectively,

Borrowers),

managed

by

Franklin

Templeton,

are

borrowers

in

a

joint

syndicated

senior

unsecured

credit

facility

totaling

$2.995

billion

(Global

Credit

Facility)

which

matures

on

January

30,

2026. This

Global

Credit

Facility

provides

a

source

of

funds

to

the

Borrowers

for

temporary

and

emergency

purposes,

including

the

ability

to

meet

future

unanticipated

or

unusually

large

redemption

requests.

Under

the

terms

of

the

Global

Credit

Facility,

the

Funds

may,

in

addition

to

interest

charged

on

any

borrowings

made

by

the

Funds

and

other

costs

incurred

by

the

Funds,

pay

their

share

of

fees

and

expenses

incurred

in

connection

with

the

implementation

and

maintenance

of

the

Global

Credit

Facility,

based

upon

their

relative

share

of

the

aggregate

net

assets

of

all

of

the

Borrowers,

including

an

annual

commitment

fee

of

0.15%

based

upon

the

unused

portion

of

the

Global

Credit

Facility.

These

fees

are

reflected

in

other

expenses

in

the

Statements

of

Operations.

During

the

year ended

July

31,

2025,

the

Funds

did

not

use

the

Global

Credit

Facility.

11. #### Fair

#### Value

#### Measurements
The Funds

follow

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Funds'

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the Funds' financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Level

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

–

significant

unobservable

inputs

(including

the Funds'

own

assumptions

in

determining

the

fair

value

of

financial

instruments)

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

A

summary

of

inputs

used

as

of

July

31,

2025,

in

valuing

the

Funds'

assets

and

liabilities carried

at

fair

value,

is

as

follows:

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Total

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Assets:
Investments

in

Securities:

Common

Stocks

.........................

$

—

$

—

$

—

a

$

—

Warrants

:

Financial

Services

......................

—

1,451,921

691,095

2,143,016

Private

Limited

Partnership

Funds

............

—

—

—

a

—

Quasi-Sovereign

Bonds

:

Financial

Services

......................

—

—

502,464

a

502,464

Municipal

Bonds

.......................

—

2,805,597

—

2,805,597

Oil,

Gas

&

Consumable

Fuels

.............

—

5,760,776

—

5,760,776

Transportation

Infrastructure

..............

—

722,585

—

722,585

Corporate

Bonds

:

Banks

...............................

—

202,340

—

202,340

Broadline

Retail

.......................

—

—

—

a

—

Chemicals

...........................

—

901,365

—

901,365

Commercial

Services

&

Supplies

...........

—

923,387

—

923,387

Diversified

Telecommunication

Services

.....

—

409,323

—

409,323

Electric

Utilities

........................

—

2,547,713

—

2,547,713

Food

Products

........................

—

1,658,145

—

1,658,145

Metals

&

Mining

.......................

—

791,850

—

791,850

Oil,

Gas

&

Consumable

Fuels

.............

—

2,163,435

—

2,163,435

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Total

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund
(continued)

#### Assets:
(continued)

Investments

in

Securities:

(continued)

Corporate

Bonds:

(continued)

Real

Estate

Management

&

Development

....

$

—

$

169,226

$

—

$

169,226

Wireless

Telecommunication

Services

.......

—

978,609

—

978,609

Loan

Participations

and

Assignments

.........

—

—

—

a

—

Foreign

Government

and

Agency

Securities

....

—

69,751,228

—

69,751,228

Supranational

...........................

—

4,321,268

532,174

4,853,442

Escrows

and

Litigation

Trusts

...............

—

—

3,982

3,982

Short

Term

Investments

...................

6,669,994

1,319,213

—

7,989,207

Total

Investments

in

Securities

...........

$6,669,994

$96,877,981

$1,729,715

$105,277,690

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$223,448

$—

$223,448

Total

Other

Financial

Instruments

.........

$—

$223,448

$—

$223,448

#### Liabilities:
Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

—

28,769

—

28,769

Total

Other

Financial

Instruments

.........

$—

$28,769

$—

$28,769

#### Franklin

#### International

#### Growth

#### Fund

#### Assets:
Investments

in

Securities:

Common

Stocks

:

Aerospace

&

Defense

...................

—

31,489,190

—

31,489,190

Air

Freight

&

Logistics

...................

—

31,820,072

—

31,820,072

Biotechnology

.........................

41,774,850

—

—

41,774,850

Broadline

Retail

.......................

30,385,792

—

—

30,385,792

Capital

Markets

........................

—

71,889,499

—

71,889,499

Chemicals

...........................

—

27,845,603

—

27,845,603

Containers

&

Packaging

.................

—

23,459,235

—

23,459,235

Electronic

Equipment,

Instruments

&

Components

........................

—

13,476,380

—

13,476,380

Entertainment

.........................

—

28,231,114

—

28,231,114

Health

Care

Equipment

&

Supplies

.........

—

67,651,643

—

67,651,643

Hotels,

Restaurants

&

Leisure

.............

—

24,891,092

—

24,891,092

Interactive

Media

&

Services

..............

—

26,728,345

—

26,728,345

IT

Services

...........................

29,330,400

—

—

29,330,400

Life

Sciences

Tools

&

Services

............

—

17,424,226

—

17,424,226

Machinery

............................

—

57,752,465

—

57,752,465

Oil,

Gas

&

Consumable

Fuels

.............

7,833,333

—

—

7,833,333

Pharmaceuticals

.......................

—

22,613,209

—

22,613,209

Professional

Services

...................

—

25,555,015

—

25,555,015

Semiconductors

&

Semiconductor

Equipment

.

23,633,100

61,117,464

—

84,750,564

Software

.............................

115,441,189

27,165,801

—

142,606,990

Specialty

Retail

........................

—

13,726,338

—

13,726,338

Trading

Companies

&

Distributors

..........

—

22,444,822

—

22,444,822

Short

Term

Investments

...................

15,291,485

—

—

15,291,485

Total

Investments

in

Securities

...........

$263,690,149

$595,281,513

b

$—

$858,971,662

a

Includes

financial

instruments

determined

to

have

no

value.

b

Includes

foreign

securities

valued

at

$595,281,513,

which

were

categorized

as

Level

as

a

result

of

the

application

of

market

level

fair

value

procedures.

See

the

Financial

Instrument

Valuation

note

for

more

information.

11. #### Fair

#### Value

#### Measurements
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

A

reconciliation

in

which

Level

inputs

are

used

in

determining

fair

value

is

presented

when

there

are

significant

Level

assets

and/or

liabilities

at

the

beginning

and/or

end

of

the

year.

At

July

31,

2025,

the

reconciliation

is

as

follows:

Significant

unobservable

valuation

inputs

for

material

Level

3 assets

and/or

liabilities and

impact

to

fair

value

as

a

result

of

changes

in

unobservable

valuation

inputs

as

of

July

31,

2025,

are

as

follows:

#### Balance

#### at

#### Beginning

#### of

#### Year

#### Purchases

#### a

#### Sales

#### b

#### Transfer

#### Into

#### Level

#### 3

#### Transfer

#### Out

#### of

#### Level

#### 3

#### Net

#### Accretion

#### (#### Amortiza

#### -

#### tion

####)

#### Net

#### Realized

#### Gain
(Loss)

#### Net

#### Unr

#### ealized

#### Appreciatio

#### n

#### (#### Depreciation

####)

#### Balance

#### at

#### End

#### of

#### Year

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### on

#### Assets

#### Held

#### at

#### Year

#### End

#### a

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Assets:
Investments

in

Securities:

Common

Stocks

:

Broadline

Retail

.....

$

—

c

$

—

$

—

$

—

$

—

$

—

$

—

$

—

$

—

c

$

—

Financial

Services

...

—

c

—

—

—

—

—

—

—

—

c

—

Warrants

:

Financial

Services

...

580,816

—

—

—

—

—

—

110,279

691,095

110,279

Private

Limited

Partnership

Funds

:

Capital

Markets

.....

—

c

—

—

—

—

—

—

—

—

c

—

Quasi-Sovereign

Bonds

:

620,346

c

—

(156,983)

—

—

—

(12,595)

51,696

502,464

c

37,204

Corporate

Bonds

:

Broadline

Retail

.....

—

c

—

—

—

—

—

—

—

—

c

—

Loan

Participations

and

Assignments

:

486,606

c

103,631

—

—

—

—

(590,328)

—

c

(590,328)

Supranational:

—

531,740

—

—

—

(35) —

532,174

Escrows

and

Litigation

Trusts

:

—

c

—

—

—

—

—

—

3,982

3,982

3,982

Total

Investments

in

Securities

............

$1,687,768

$635,371

$(156,983)

$—

$—

$56

$(12,595)

$(423,902)

$1,729,715

$(438,394)

a

Purchases

include

all

purchases

of

securities

and

securities

received

in

corporate

actions.

b

Sales

include

all

sales

of

securities,

maturities,

paydowns

and

securities

tendered

in

corporate

actions.

c

Includes

financial

instruments

determined

to

have

no

value.

#### Description

#### Fair

#### Value

#### at

#### End

#### of

#### Year

#### Valuation

#### Technique

#### Unobservable

#### Inputs

#### Amount

#### Impact

#### to

#### Fair

#### Value

#### if

#### Input

#### Increases

#### a

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Assets:
Investments

in

Securities:

Warrants:

Financial

Services

........

$691,095

Recovery

value

Implied

recovery

4.1%

Increase

All

Other

..................

1,038,620

b,c

Total

.........................

$1,729,715

11. #### Fair

#### Value

#### Measurements
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

12. #### Operating

#### Segments
The Funds

have

adopted

the

FASB

Accounting

Standards

Update

(ASU)

2023-07,

*Segment* 

*Reporting* 

*(Topic* 

*280)* 

*-* 

*Improvements* 

*to* 

*Reportable* 

*Segment* 

*Disclosures.*

The

update

is

limited

to

disclosure

requirements

and

does

not

impact

the Funds'

financial

position

or

results

of

operations.

Each

Fund

operates

as

a

single

operating

segment,

which

is

an

investment

portfolio.

The

Funds'

Investment

manager

serves

as

the

Chief

Operating

Decision

Maker

(CODM),

evaluating

fund-wide

results

and

performance

under

a

unified

investment

strategy.

The

CODM

uses

these

measures

to

assess

fund

performance

and

allocate

resources

effectively.

Internal

reporting

provided

to

the

CODM

aligns

with

the

accounting

policies

and

measurement

principles

used

in

the

financial

statements.

For

information

regarding

segment

assets,

segment

profit

or

loss,

and

significant

expenses,

refer

to

the

Statements

of

Assets

and

Liabilities

and

the

Statements

of

Operations,

along

with

the

related

notes

to

the

financial

statements.

The

Schedules

of

Investments

provides

details

of

the

Funds'

investments

that

generate

returns

such

as

interest,

dividends,

and

realized

and

unrealized

gains

or

losses.

Performance

metrics,

including

portfolio

turnover

and

expense

ratios,

are

disclosed

in

the

Financial

Highlights.

13. #### New

#### Accounting

#### Pronouncements
In

December

2023,

the

FASB

issued

ASU

No.

2023-09,

Income

Taxes

(Topic

740)

–

Improvements

to

Income

Tax

Disclosures.

The

amendments

enhance

income

tax

disclosures

by

requiring

greater

disaggregation

in

the

rate

reconciliation

and

income

taxes

paid

by

jurisdiction,

while

removing

certain

disclosure

requirements.

The

ASU

is

effective

for

annual

periods

beginning

after

December

15,

2024,

with

early

adoption

permitted.

Management

is

currently

evaluating

the

impact

and

believes

that

the

adoption

of

the

ASU

will

not

have

a

material

impact

on

the

financial

statements.

14. #### Subsequent

#### Events
The

Funds

have

evaluated

subsequent

events

through

the

issuance

of

the

financial

statements

and

determined

that

no

events

have

occurred

that

require

disclosure.

a

Represents

the

directional

change

in

the

fair

value

of

the

Level

financial

instruments

that

would

result

from

a

significant

and

reasonable

increase

in

the

corresponding

input.

A

significant

and

reasonable

decrease

in

the

input

would

have

the

opposite

effect.

Significant

increases

and

decreases

in

these

inputs

in

isolation

could

result

in

significantly

higher

or

lower

fair

value

measurements.

b

Includes

the

fair

value

of

immaterial

assets

and/or

liabilities

developed

using

various

valuation

techniques

and

unobservable

inputs.

c

Includes

financial

instruments

determined

to

have

no

value.

11. #### Fair

#### Value

#### Measurements
(continued)

Franklin

Global

Trust

Notes

to

Financial

Statements

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#### Abbreviations

#### Counterparty

#### CITI
Citibank

NA

#### Selected

#### Portfolio

#### ADR
American

Depositary

Receipt

#### FRN
Floating

Rate

Note

#### GDP
Gross

Domestic

Product

#### GDR
Global

Depositary

Receipt

#### PIK
Payment-In-Kind

#### PTN
Pass-through

Note

#### VRI
Value

Recovery

Instrument

#### Cu

#### r

#### rency

#### AZN
Azerbaijani

Manat

#### BRL
Brazilian

Real

#### COP
Colombian

Peso

#### DOP
Dominican

Peso

#### EGP
Egyptian

Pound

#### EUR
Euro

#### IDR
Indonesian

Rupiah

#### JMD
Jamaican

Dollar

#### KZT
Kazakhstani

Tenge

#### MXN
Mexican

Peso

#### NGN
Nigerian

Naira

#### PLN
Polish

Zloty

#### TRY
Turkish

Lira

#### UGX
Uganda

Shilling

#### UZS
Uzbekistani

Som

#### ZAR
South

African

Rand

Franklin

Global

Trust

Report

of

Independent

Registered

Public

Accounting

Firm

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To

the

Board

of

Trustees

of

Franklin

Global

Trust

and

Shareholders

of

Franklin

Emerging

Market

Debt

Opportunities

Fund

and

Franklin

International

Growth

Fund

#### Opinions

#### on

#### the

#### Financial

#### Statements
We

have

audited

the

accompanying

statements

of

assets

and

liabilities,

including

the

schedules

of

investments,

of

each

of

the

funds

listed

in

the

table

below

(constituting

Franklin

Global

Trust,

hereafter

collectively

referred

to

as

the

"Funds")

as

of

July

31,

2025,

the

related

statements

of

operations

for

the

year

ended

July

31,

2025,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

July

31,

2025,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

July

31,

2025

(collectively

referred

to

as

the

"financial

statements").

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

listed

in

the

table

below

as

of

July

31,

2025,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

July

31,

2025

and

each

of

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

July

31,

2025

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

(a) The

financial

statements

for

Franklin

Emerging

Market

Debt

Opportunities

Fund

are

presented

on

a

consolidated

basis.

#### Basis

#### for

#### Opinions
These

financial

statements

are

the

responsibility

of

the

Funds'

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds'

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

July

31,

2025

by

correspondence

with

the

custodian,

transfer

agent,

private

placement

agents

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/PricewaterhouseCoopers

LLP

San

Francisco,

California

September

18,

2025

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

Franklin

Templeton

Group

of

Funds

since

1948. Franklin

Emerging

Market

Debt

Opportunities

Fund

(a) Franklin

International

Growth

Fund

Franklin

Global

Trust

Tax

Information

(unaudited)

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By

mid-February,

tax

information

related

to

a

shareholder's

proportionate

share

of

distributions

paid

during

the

preceding

calendar

year

will

be

received,

if

applicable.

Please

also

refer

to

www.franklintempleton.com

for

per

share

tax

information

related

to

any

distributions

paid

during

the

preceding

calendar

year.

Shareholders

are

advised

to

consult

with

their

tax

advisors

for

further

information

on

the

treatment

of

these

amounts

on

their

tax

returns.

The

following

tax

information

for

the

Funds

is

required

to

be

furnished

to

shareholders

with

respect

to

income

earned

and

distributions

paid

during their

fiscal

year.

The

Funds

hereby

report

the

following

amounts,

or

if

subsequently

determined

to

be

different,

the

maximum

allowable

amounts,

for

the

fiscal

year

ended

July

31,

2025:

Under

Section

853

of

the

Internal

Revenue

Code,

the

Funds

below intend

to

elect

to

pass

through

to

their

shareholders

the

following

amounts,

or

amounts

as

finally

determined,

of

foreign

taxes

paid

and

foreign

source

income

earned

by

the

Funds

during

the

fiscal

year

ended

July

31,

2025:

#### Pursuant

#### to:

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
Qualified

Dividend

Income

Earned

(QDI)

§854(b)(1)(B)

—

$8,027,845

Section

163(j)

Interest

Dividends

Earned

§163(j)

$7,654,300

$264,965

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
Foreign

Taxes

Paid

$144,160

$609,157

Foreign

Source

Income

Earned

$6,875,108

$9,730,062

Franklin

Global

Trust

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#### BOARD

#### APPROVAL

#### OF

#### INVESTMENT

#### MANAGEMENT

#### AGREEMENTS
(unaudited)

#### FRANKLIN

#### GLOBAL

#### TRUST

#### Franklin

#### Emerging

#### Market

#### Debt

#### Opportunities

#### Fund

#### Franklin

#### International

#### Growth

#### Fund
(each

a

Fund)

At

an

in-person

meeting

held

on

May

28-29,

2025

(Meeting),

the

Board

of

Trustees

(Board)

of

Franklin

Global

Trust

(Trust),

including

a

majority

of

the

trustees

who

are

not

"interested

persons"

as

defined

in

the

Investment

Company

Act

of

1940

(Independent

Trustees),

reviewed

and

approved

the

continuance

of

the

investment

management

agreement

between

Franklin

Templeton

Investment

Management

Limited

(FTIML)

and

the

Trust,

on

behalf

of

the

Franklin

Emerging

Market

Debt

Opportunities

Fund

and

the

investment

management

agreement

between

Franklin

Templeton

Institutional,

LLC

(FTIL)

and

the

Trust,

on

behalf

of

the

Franklin

International

Growth

Fund

(each

a

Management

Agreement)

for

an

additional

one-year

period.

The

Independent

Trustees

received

advice

from

and

met

separately

with

Independent

Trustee

counsel

to

consider

the

renewal

of

each

Management

Agreement.

Although

the

Management

Agreements

for

the

Funds

were

considered

at

the

same

Board

meeting,

the

Board

considered

the

information

provided

to

it

about

the

Funds

together

and

with

respect

to

each

Fund

separately

as

the

Board

deemed

appropriate.

FTIML

and

FTIL

are

each

referred

to

herein

as

a

Manager.

In

considering

the

continuance

of

each

Management

Agreement,

the

Board

reviewed

and

considered

information

provided

by

the

Manager

at

the

Meeting

and

throughout

the

year

at

meetings

of

the

Board

and

its

committees.

The

Board

also

reviewed

and

considered

information

provided

in

response

to

a

detailed

set

of

requests

for

information

submitted

to

the

Manager

by

Independent

Trustee

counsel

on

behalf

of

the

Independent

Trustees

in

connection

with

the

annual

contract

renewal

process.

In

addition,

prior

to

the

Meeting,

the

Independent

Trustees

held

a

virtual

contract

renewal

meeting

at

which

the

Independent

Trustees

first

conferred

amongst

themselves

and

Independent

Trustee

counsel

about

contract

renewal

matters,

and

then

met

with

management

to

request

additional

information

that

the

Independent

Trustees

also

considered

prior

to

and

at

the

#### Changes

#### In

#### and

#### Disagreements

#### with

#### Accountants
For

the

period

covered

by

this

report

Not

applicable.

#### Results

#### of

#### Meeting(s)

#### of

#### Shareholders
For

the

period

covered

by

this

report

Not

applicable.

#### Remuneration

#### Paid

#### to

#### Directors,

#### Officers

#### and

#### Others
For

the

period

covered

by

this

report

Refer

to

the

financial

statements

included

herein.

Remuneration

to

officers

is

paid

by

the

Fund's

investment

manager

according

to

the

terms

of

the

agreement.

#### Board

#### Approval

#### of

#### Management

#### and

#### Subadvisory

#### Agreements
For

the

period

covered

by

this

report

Franklin

Global

Trust

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Meeting.

The

Board

further

considered

all

of

the

factors

it

deemed

relevant

in

approving

the

continuance

of

each

Management

Agreement,

including,

but

not

limited

to:

(i) the

nature,

extent

and

quality

of

the

services

provided

by

the

Manager;

(ii) the

investment

performance

of

each

Fund;

(iii) the

costs

of

the

services

provided

and

profits

realized

by

the

Manager

and

its

affiliates

from

the

relationship

with

each

Fund;

(iv) the

extent

to

which

economies

of

scale

are

realized

as

each

Fund

grows;

and

(v) whether

fee

levels

reflect

these

economies

of

scale

for

the

benefit

of

Fund

investors.

In

approving

the

continuance

of

each

Management

Agreement,

the

Board,

including

a

majority

of

the

Independent

Trustees,

determined,

through

the

exercise

of

its

business

judgment,

that

the

terms

of

the

Management

Agreement

are

fair

and

reasonable

and

that

the

continuance

of

the

Management

Agreement

is

in

the

best

interests

of

the

applicable

Fund

and

its

shareholders.

While

attention

was

given

to

all

information

furnished,

the

following

discusses

some

primary

factors

relevant

to

the

Board's

determination.

#### Nature,

#### Extent

#### and

#### Quality

#### of

#### Services
The

Board

reviewed

the

information

it

received

regarding

the

nature,

extent

and

quality

of

investment

management

services

provided

by

the

Manager

and

its

affiliates

to

the

Funds

and

their

shareholders.

This

information

included,

among

other

things,

the

qualifications,

background

and

experience

of

the

senior

management

and

investment

personnel

of

the

Manager,

as

well

as

information

on

succession

planning

where

appropriate;

the

structure

of

investment

personnel

compensation;

oversight

of

third-

party

service

providers;

investment

performance

reports

and

related

financial

information

for

each

Fund;

reports

on

expenses

and

shareholder

services;

legal

and

compliance

matters;

risk

controls;

pricing

and

other

services

provided

by

the

Manager

and

its

affiliates;

and

management

fees

charged

by

the

Manager

and

its

affiliates

to

US

funds

and

other

accounts,

including

management's

explanation

of

differences

among

accounts

where

relevant.

The

Board

also

reviewed

and

considered

an

annual

report

on

payments

made

by

Franklin

Templeton

(FT)

or

the

Funds

to

financial

intermediaries,

as

well

as

a

memorandum

relating

to

third-party

servicing

arrangements.

The

Board

acknowledged

the

ongoing

integration

of

acquired

third-party

fund

families

into

the

FT

family

of

funds

and

management's

continued

development

of

strategies

to

address

evolving

changes

in

domestic

policy

and

continuing

geopolitical

concerns.

The

Board

also

considered

the

investment

management

services

that

the

Manager

provides

to

the

Cayman

Islands-based

company,

Alternative

Strategies

(FT)

Ltd.

(Cayman

Subsidiary),

which

is

wholly

owned

by

the

Franklin

Emerging

Market

Debt

Opportunities

Fund.

The

Board

also

reviewed

and

considered

the

benefits

provided

to

Fund

shareholders

of

investing

in

a

fund

that

is

part

of

the

FT

family

of

funds.

The

Board

noted

the

financial

position

of

Franklin

Resources,

Inc.

(FRI),

the

Manager's

parent,

and

its

commitment

to

the

mutual

fund

business

as

evidenced

by

its

continued

reassessment

of

the

fund

offerings

in

response

to

FT

acquisitions

and

the

market

environment,

as

well

as

its

evaluation

of

ways

to

incorporate

private

assets

into

more

traditional

investment

vehicles.

The

Board

specifically

noted

FT's

commitment

to

technological

innovation

and

advancement,

including

its

continued

focus

on

developing

potential

use

cases

for

tokenization

and

the

blockchain

and

the

use

of

artificial

intelligence

tools

to

help

streamline

day-to-day

tasks.

Following

consideration

of

such

information,

the

Board

was

satisfied

with

the

nature,

extent

and

quality

of

services

provided

by

each

Manager

and

its

affiliates

to

the

Funds

and

their

shareholders.

#### Fund

#### Performance
The

Board

reviewed

and

considered

the

performance

results

of

each

Fund

over

various

time

periods

ended

December

31,

2024. The

Board

considered

the

performance

returns

for

each

Fund

in

comparison

to

the

performance

returns

of

mutual

funds

deemed

comparable

to

the

Fund

included

in

a

universe

(Performance

Universe)

selected

by

Broadridge

Financial

Solutions,

Inc.

(Broadridge),

an

independent

provider

of

investment

company

data.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

a

Performance

Universe.

The

Board

also

reviewed

and

considered

Fund

performance

reports

provided

and

discussions

that

occurred

with

portfolio

managers

at

Board

meetings

throughout

the

year.

A

summary

of

each

Fund's

performance

results

is

below.

Franklin

Global

Trust

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*Franklin* 

*Emerging* 

*Market* 

*Debt* 

*Opportunities* 

*Fund*

-

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

retail

and

institutional

emerging

markets

hard

currency

debt

funds.

The

Board

noted

that

the

Fund's

annualized

total

return

for

the

one-,

three-,

five-

and

10-year

periods

was

above

the

median

and

in

the

first

(best)

quintile

of

its

Performance

Universe.

The

Board

concluded

that

the

Fund's

performance

was

satisfactory.

*Franklin* 

*International* 

*Growth* 

*Fund*

-

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

retail

and

institutional

international

multi-cap

growth

funds.

The

Board

noted

that

the

Fund's

annualized

total

return

for

the

10-year

period

was

above

the

median

of

its

Performance

Universe,

but

for

the

one-,

three-

and

five-year

periods

was

below

the

median

of

its

Performance

Universe.

The

Board

discussed

the

Fund's

performance

with

management

and

management

explained

that

the

Fund

generally

invests

in

higher

growth

companies

and

has

a

portfolio

with

a

lower

weighted

average

(mid-cap)

market

capitalization

relative

to

its

Performance

Universe

peers.

Management

further

explained

that

the

three-

and

five-year

underperformance

was

substantially

driven

by

underperformance

in

2022,

in

which

the

Fund's

style

differences

versus

peers

had

a

meaningful

impact

and

continued

to

adversely

impact

the

Fund's

performance

in

2023

and

2024. Management

also

explained

that

underperformance

in

2024

was

driven

by

weak

stock

selection

in

the

health

care

sector.

The

Board

noted

management's

conviction

in

the

Fund's

investment

strategies.

Management

discussed

with

the

Board

the

actions

that

are

being

taken/have

been

taken

in

an

effort

to

improve

the

overall

performance

of

the

Fund,

including,

among

others,

certain

personnel

changes.

The

Board

further

noted

that,

although

below

median,

the

Fund's

annualized

total

return

for

the

one-year

period

was

positive.

The

Board

concluded

that

the

Fund's

Management

Agreement

should

be

continued

for

an

additional

one-

year

period,

while

management's

efforts

continue

to

be

closely

monitored.

#### Comparative

#### Fees

#### and

#### Expenses
The

Board

reviewed

and

considered

information

regarding

each

Fund's

actual

total

expense

ratio

and

its

various

components,

including,

as

applicable,

management

fees;

transfer

agent

expenses;

underlying

fund

expenses;

Rule

12b-1

and

non-Rule

12b-1

service

fees;

and

other

non-management

fees.

The

Board

also

noted

the

quarterly

and

annual

reports

it

receives

on

all

marketing

support

payments

made

by

FT

to

financial

intermediaries.

The

Board

considered

the

actual

total

expense

ratio

and,

separately,

the

contractual

management

fee

rate,

without

the

effect

of

fee

waivers,

if

any

(Management

Rate)

of

each

Fund

in

comparison

to

the

median

expense

ratio

and

median

Management

Rate,

respectively,

of

other

mutual

funds

deemed

comparable

to

and

with

a

similar

expense

structure

to

the

Fund

selected

by

Broadridge

(Expense

Group).

Broadridge

fee

and

expense

data

is

based

upon

information

taken

from

each

fund's

most

recent

annual

or

semi-annual

report,

which

reflects

historical

asset

levels

that

may

be

quite

different

from

those

currently

existing,

particularly

in

a

period

of

market

volatility.

While

recognizing

such

inherent

limitation

and

the

fact

that

expense

ratios

and

Management

Rates

generally

increase

as

assets

decline

and

decrease

as

assets

grow,

the

Board

believed

the

independent

analysis

conducted

by

Broadridge

to

be

an

appropriate

measure

of

comparative

fees

and

expenses.

The

Broadridge

Management

Rate

includes

administrative

charges,

and

the

actual

total

expense

ratio,

for

comparative

consistency,

was

shown

(i) for

Institutional

Class,

Class

I,

Class

Y

and

Class

SI

shares

for

funds

in

the

Expense

Group

for

the

Franklin

Emerging

Market

Debt

Opportunities

Fund;

and

(ii) for

Class

A

shares

for

the

Franklin

International

Growth

Fund

and

each

other

fund

in

its

Expense

Group.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

an

Expense

Group.

The

Board

also

considered

the

investment

management

services

that

the

Manager

provides

to

the

Cayman

Subsidiary

and

the

related

fee

waivers

that

were

in

place.

*Franklin* 

*Emerging* 

*Market* 

*Debt* 

*Opportunities* 

*Fund*

-

The

Expense

Group

for

the

Fund

included

the

Fund

and

nine

other

emerging

markets

hard

currency

debt

funds.

The

Board

noted

that

the

Management

Rate

and

actual

total

expense

ratio

for

the

Fund

were

above

the

medians

of

its

Expense

Group.

The

Board

acknowledged

management's

explanation

that

there

are

additional

complexities

and

expenses

associated

with

the

management

of

the

portfolio,

which

is

highly

differentiated

from

its

Expense

Group

peers

as

it

invests

in

a

wider

range

of

countries

and

issuers

and,

at

times,

smaller,

less

liquid

issuers.

The

Board

also

noted

that

the

Fund's

actual

total

expense

ratio

reflected

an

expense

cap

on

operating

expenses.

The

Board

concluded

that

the

Management

Rate

charged

to

the

Fund

is

reasonable.

Franklin

Global

Trust

ftinstitutional.com

\|

franklintempleton.com

Annual

Report

*Franklin* 

*International* 

*Growth* 

*Fund*

-

The

Expense

Group

for

the

Fund

included

the

Fund

and

eight

other

international

multi-

cap

growth

funds.

The

Board

noted

that

the

Management

Rate

and

actual

total

expense

ratio

were

below

the

medians

of

its

Expense

Group.

The

Board

also

noted

that

the

Fund's

actual

total

expense

ratio

reflected

an

expense

cap

on

operating

expenses.

The

Board

concluded

that

the

Management

Rate

charged

to

the

Fund

is

reasonable.

#### Profitability
The

Board

reviewed

and

considered

information

regarding

the

profits

realized

by

each

Manager

and

its

affiliates

in

connection

with

the

operation

of

each

Fund.

In

this

respect,

the

Board

considered

the

Fund

profitability

analysis

provided

by

the

Managers

that

addresses

the

overall

profitability

of

FT's

US

fund

business,

as

well

as

its

profits

in

providing

investment

management

and

other

services

to

each

of

the

individual

funds

during

the

12-month

period

ended

September

30,

2024,

being

the

most

recent

fiscal

year-end

for

FRI.

The

Board

noted

that

although

management

continually

makes

refinements

to

its

methodologies

used

in

calculating

profitability

in

response

to

organizational

and

product-related

changes,

the

overall

methodology

has

remained

consistent

with

that

used

in

the

Funds'

profitability

report

presentations

from

prior

years.

The

Board

also

noted

that

an

independent

registered

public

accounting

firm

has

been

engaged

by

the

Managers

to

periodically

review

and

assess

the

allocation

methodologies

to

be

used

solely

by

the

Funds'

Board

with

respect

to

the

profitability

analysis.

The

Board

noted

management's

belief

that

costs

incurred

in

establishing

the

infrastructure

necessary

for

the

type

of

mutual

fund

operations

conducted

by

the

Manager

and

its

affiliates

may

not

be

fully

reflected

in

the

expenses

allocated

to

each

Fund

in

determining

its

profitability,

as

well

as

the

fact

that

the

level

of

profits,

to

a

certain

extent,

reflected

operational

cost

savings

and

efficiencies

initiated

by

management.

As

part

of

this

evaluation,

the

Board

considered

management's

outsourcing

of

certain

operations,

which

effort

has

required

considerable

up-front

expenditures

by

the

Manager,

but

over

the

long

run

is

expected

to

result

in

greater

efficiencies.

The

Board

also

noted

management's

expenditures

in

improving

shareholder

services

provided

to

the

Funds,

as

well

as

the

need

to

implement

systems

and

meet

additional

regulatory

and

compliance

requirements

resulting

from

recent

US

Securities

and

Exchange

Commission

and

other

regulatory

requirements.

The

Board

also

considered

the

extent

to

which

each

Manager

and

its

affiliates

might

derive

ancillary

benefits

from

fund

operations,

including

revenues

generated

from

transfer

agent

services,

potential

benefits

resulting

from

personnel

and

systems

enhancements

necessitated

by

fund

growth,

as

well

as

increased

leverage

with

service

providers

and

counterparties.

Based

upon

its

consideration

of

all

these

factors,

the

Board

concluded

that

the

level

of

profits

realized

by

each

Manager

and

its

affiliates

from

providing

services

to

each

Fund

was

not

excessive

in

view

of

the

nature,

extent

and

quality

of

services

provided

to

each

Fund.

#### Economies

#### of

#### Scale
The

Board

reviewed

and

considered

the

extent

to

which

each

Manager

may

realize

economies

of

scale,

if

any,

as

each

Fund

grows

larger

and

whether

each

Fund's

management

fee

structure

reflects

any

economies

of

scale

for

the

benefit

of

shareholders.

With

respect

to

possible

economies

of

scale,

the

Board

noted

the

existence

of

management

fee

breakpoints,

which

operate

generally

to

share

any

economies

of

scale

with

a

Fund's

shareholders

by

reducing

the

Fund's

effective

management

fees

as

the

Fund

grows

in

size.

The

Board

considered

the

Manager's

view

that

any

analyses

of

potential

economies

of

scale

in

managing

a

particular

fund

are

inherently

limited

in

light

of

the

joint

and

common

costs

and

investments

the

Manager

incurs

across

the

FT

family

of

funds

as

a

whole.

The

Board

noted

that

the

Franklin

Emerging

Market

Debt

Opportunities

Fund

does

not

currently

have

an

asset

size

that

would

likely

enable

the

Fund

to

achieve

economies

of

scale

and

that

the

Franklin

International

Growth

Fund

had

experienced

a

significant

decrease

in

assets

and

would

not

be

expected

to

demonstrate

additional

economies

of

scale

in

the

near

term,

but

concluded

that

to

the

extent

economies

of

scale

may

be

realized

by

each

Manager

and

its

affiliates,

each

Fund's

management

fee

structure

provided

a

sharing

of

benefits

with

the

Fund

and

its

shareholders

as

the

Fund

grows.

#### Conclusion
Based

on

its

review,

consideration

and

evaluation

of

all

factors

it

believed

relevant,

including

the

above-described

factors

and

conclusions,

the

Board

unanimously

approved

the

continuance

of

each

Management

Agreement

for

an

additional

one-year

period.

FGT-AFSOI

09/25©

2025

Franklin

Templeton.

All

rights

reserved.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR, as applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

---

| | |
|:---|:---|
| ITEM 15. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |

---

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees that would require disclosure herein.

ITEM 16. CONTROLS AND PROCEDURES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's chief executive officer and chief financial officer have concluded that the Registrant's disclosure controls
 and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective
 as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their
 evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange
 Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940
 Act) that occurred during the period covered by this report that have materially affected or are likely to materially affect the Registrant's
 internal control over financial reporting.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 19. EXHIBITS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(a) (1) Code of Ethics attached hereto.](fgt2f-efp17541_ex99code.htm)

Exhibit 99.CODE ETH

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(a) (3) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.](fgt2f-efp17541_ex99cert.htm)

Exhibit 99.CERT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.](fgt2f-efp17541_ex99906cert.htm)

Exhibit 99.906CERT

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

**Franklin Global Trust**

---

| | |
|:---|:---|
| By: | /s/ Christopher Kings |
|  | Christopher Kings |
|  | Chief Executive Officer – Finance and Administration |
| Date: | September 26, 2025 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Christopher Kings |
|  | Christopher Kings |
|  | Chief Executive Officer – Finance and Administration |
| Date: | September 26, 2025 |

---

---

| | |
|:---|:---|
| By: | /s/ Jeffrey White |
|  | Jeffrey White |
|  | Chief Financial Officer, Chief Accounting Officer and Treasurer |
| Date: | September 26, 2025 |

---

## Ex-99.Codeeth

**Code of Ethics for Principal Executives & Senior Financial Officers**

---

| | |
|:---|:---|
| **Procedures** | &nbsp;&nbsp;&nbsp;Revised [September 27, 2024] |

---

**FRANKLIN TEMPLETON AFFILIATED FUNDS**

**CODE OF ETHICS FOR PRINCIPAL EXECUTIVES AND**

**SENIOR FINANCIAL OFFICERS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. Covered Officers
 and Purpose of the Code

This code of ethics (the "Code") applies to the Principal Executive Officers, Principal Financial Officer and Principal Accounting Officer (the "Covered Officers") of each investment company advised by a Franklin Resources subsidiary and that is registered with the United States Securities & Exchange Commission ("SEC") (collectively, "FT Funds") for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Honest
 and ethical conduct, including the ethical resolution of actual or apparent conflicts of
 interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Full,
 fair, accurate, timely and understandable disclosure in reports and documents that a registrant
 files with, or submits to, the SEC and in other public communications made by or on behalf
 of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Compliance
 with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 prompt internal reporting of violations of the Code to an appropriate person or persons identified
 in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accountability
 for adherence to the Code.

Each Covered Officer will be expected to adhere to a high standard of business ethics and must be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

*\** Rule 38a-1 under the Investment Company Act of 1940 ("1940 Act") and Rule 206(4)-7 under the Investment Advisers Act of 1940 ("Advisers Act") (together the "Compliance Rule") require registered investment companies and registered investment advisers to, among other things, adopt and implement written policies and procedures reasonably designed to prevent violations of the federal securities laws ("Compliance Rule Policies and Procedures").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;II. Other Policies
 and Procedures

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder.

Franklin Resources, Inc. has separately adopted the <u>Code of Ethics and Business Conduct</u> ("Business Conduct"), which is applicable to all officers, directors and employees of Franklin Resources, Inc., including Covered Officers. It summarizes the values, principles and business practices that guide the employee's business conduct and also provides a set of basic principles to guide officers, directors and employees regarding the minimum ethical requirements expected of them. It supplements the values, principles and business conduct identified in the Code and other existing employee policies.

Additionally, the Franklin Templeton Funds have separately adopted the <u>FTI Personal Investments and Insider Trading Policy</u> governing personal securities trading and other related matters. The Code for Insider Trading provides for separate requirements that apply to the Covered Officers and others, and therefore is not part of this Code.

Insofar as other policies or procedures of Franklin Resources, Inc., the Funds, the Funds' adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. Please review these other documents or consult with the Legal Department if have questions regarding the applicability of these policies to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;III. Covered
 Officers Should Handle Ethically Actual and Apparent Conflicts of Interest

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to, the FT Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of a position with the FT Funds.

Certain conflicts of interest arise out of the relationships between Covered Officers and the FT Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940 ("Investment Company Act") and the Investment Advisers Act of 1940 ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the FT Funds because of their status as "affiliated persons" of the FT Funds. The FT Funds' and the investment advisers' compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the FT Funds, the investment advisers and the fund administrator of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the FT Funds, for the adviser, the administrator, or for all three), be involved in establishing policies and implementing decisions that will have different effects on the

adviser, administrator and the FT Funds. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the FT Funds, the adviser, and the administrator and is consistent with the performance by the Covered Officers of their duties as officers of the FT Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the FT Funds' Boards of Directors ("Boards") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the FT Funds.

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Not
 use his or her personal influence or personal relationships improperly to influence investment
 decisions or financial reporting by the FT Funds whereby the Covered Officer would benefit
 personally to the detriment of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Not
 cause the FT Funds to take action, or fail to take action, for the individual personal benefit
 of the Covered Officer rather than the benefit of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Not
 retaliate against any other Covered Officer or any employee of the FT Funds or their affiliated
 persons for reports of potential violations that are made in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Report
 at least annually the following affiliations or other relationships:<sup>1</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• all
 directorships for public companies and all companies that are required to file reports with
 the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 direct or indirect business relationship with any independent directors of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 direct or indirect business relationship with any independent public accounting firm (which
 are not related to the routine issues related to the firm's service as the Covered
 Persons accountant); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 direct or indirect interest in any transaction with any FT Fund that will benefit the officer
 (not including benefits derived from the advisory, sub-advisory, distribution or service
 agreements with affiliates of Franklin Resources).

These reports will be reviewed by the Legal Department for compliance with the Code.

There are some conflict of interest situations that should always be approved in writing by Franklin Resources General Counsel or Deputy General Counsel, if material. Examples of these include<sup>2</sup>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Service
 as a director on the board of any public or private Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 receipt of any gifts in excess of $100 from any person, from any corporation or association.

<sup>1</sup> Reporting of these affiliations or other relationships shall be made by completing the annual Directors and Officers Questionnaire and returning the questionnaire to Franklin Resources Inc, General Counsel or Deputy General Counsel.

<sup>2</sup> Any activity or relationship that would present a conflict for a Covered Officer may also present a conflict for the Covered Officer if a member of the Covered Officer's immediate family engages in such an activity or has such a relationship. The Covered Person should also obtain written approval by FT's General Counsel in such situations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 receipt of any entertainment from any Company with which the FT Funds has current or prospective
 business dealings unless such entertainment is business related, reasonable in cost, appropriate
 as to time and place, and not so frequent as to raise any question of impropriety. Notwithstanding
 the foregoing, the Covered Officers must obtain prior approval from the Franklin Resources
 General Counsel for any entertainment with a value in excess of $1000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any
 ownership interest in, or any consulting or employment relationship with, any of the FT Fund's
 service providers, other than an investment adviser, principal underwriter, administrator
 or any affiliated person thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A
 direct or indirect financial interest in commissions, transaction charges or spreads paid
 by the FT Funds for effecting portfolio transactions or for selling or redeeming shares other
 than an interest arising from the Covered Officer's employment, such as compensation
 or equity ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin
 Resources General Counsel or Deputy General Counsel, or the Chief Compliance Officer, will
 provide a report to the FT Funds Audit Committee of any approvals granted at the next regularly
 scheduled meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. Disclosure
 and Compliance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each
 Covered Officer should familiarize himself with the disclosure requirements generally applicable
 to the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each
 Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts
 about the FT Funds to others, whether within or outside the FT Funds, including to the FT
 Funds' directors and auditors, and to governmental regulators and self- regulatory
 organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each
 Covered Officer should, to the extent appropriate within his or her area of responsibility,
 consult with other officers and employees of the FT Funds, the FT Fund's adviser and
 the administrator with the goal of promoting full, fair, accurate, timely and understandable
 disclosure in the reports and documents the FT Funds file with, or submit to, the SEC and
 in other public communications made by the FT Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• It
 is the responsibility of each Covered Officer to promote compliance with the standards and
 restrictions imposed by applicable laws, rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V. Reporting
 and Accountability

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Upon
 becoming a covered officer affirm in writing to the Board that he or she has received, read,
 and understands the Code (see Exhibit A);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annually
 thereafter affirm to the Board that he has complied with the requirements of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Notify
 Franklin Resources' General Counsel or Deputy General Counsel promptly if he or she
 knows of any violation of this Code. Failure to do so is itself is a violation of this Code.

Franklin Resources' General Counsel and Deputy General Counsel are responsible for applying this Code to specific situations in which questions are presented under it and have the authority to interpret this Code in any particular situation.<sup>3</sup> However, the Independent Directors of the respective FT Funds will consider any approvals or waivers<sup>4</sup> sought by any Chief Executive Officers of the Funds.

The FT Funds will follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin
 Resources General Counsel or Deputy General Counsel will take all appropriate action to investigate
 any potential violations reported to the Legal Department;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If,
 after such investigation, the General Counsel or Deputy General Counsel believes that no
 violation has occurred, The General Counsel is not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any
 matter that the General Counsel or Deputy General Counsel believes is a violation will be
 reported to the Independent Directors of the appropriate FT Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If
 the Independent Directors concur that a violation has occurred, it will inform and make a
 recommendation to the Board of the appropriate FT Fund or Funds, which will consider appropriate
 action, which may include review of, and appropriate modifications to, applicable policies
 and procedures; notification to appropriate personnel of the investment adviser or its board;
 or a recommendation to dismiss the Covered Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 Independent Directors will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any
 changes to or waivers of this Code will, to the extent required, are disclosed as provided
 by SEC rules.<sup>5</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VI. Other
 Policies and Procedures

This Code shall be the sole code of ethics adopted by the FT Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the FT Funds, the FT Funds' advisers, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The FTI Personal Investments and Insider Trading Policy, adopted by the FT Funds, FT investment advisers and FT Fund's principal underwriter pursuant to Rule 17j-1 under the Investment Company Act, the Code of Ethics and Business Conduct and more detailed policies and procedures set forth in FT's Employee Handbook are separate requirements applying to the Covered Officers and others, and are not part of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VII. Amendments

Any amendments to this Code must be approved or ratified by a majority vote of the FT Funds' Board including a majority of independent directors.

<sup>3</sup> Franklin Resources General Counsel and Deputy General Counsel are authorized to consult, as appropriate, with members of the Audit Committee, counsel to the FT Funds and counsel to the Independent Directors, and are encouraged to do so.

<sup>4</sup> Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer" of the registrant. See Part X.

<sup>5</sup> See Part X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VIII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the FT Funds' Board and their counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IX. Internal
 Use

The Code is intended solely for the internal use by the FT Funds and does not constitute an admission, by or on behalf of any FT Funds, as to any fact, circumstance, or legal conclusion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X. Disclosure
 on Form N-CSR

Item 2 of Form N-CSR requires a registered management investment company to disclose annually whether, as of the end of the period covered by the report, it has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these officers are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, it must explain why it has not done so.

The registrant must also: (1) file with the SEC a copy of the code as an exhibit to its annual report; (2) post the text of the code on its Internet website and disclose, in its most recent report on Form N-CSR, its Internet address and the fact that it has posted the code on its Internet website; or (3) undertake in its most recent report on Form N-CSR to provide to any person without charge, upon request, a copy of the code and explain the manner in which such request may be made. Disclosure is also required of amendments to, or waivers (including implicit waivers) from, a provision of the code in the registrant's annual report on Form N-CSR or on its website. If the registrant intends to satisfy the requirement to disclose amendments and waivers by posting such information on its website, it will be required to disclose its Internet address and this intention.

The Legal Department shall be responsible for ensuring that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a
 copy of the Code is filed with the SEC as an exhibit to each Fund's annual report;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 amendments to, or waivers (including implicit waivers) from, a provision of the Code is disclosed
 in the registrant's annual report on Form N-CSR.

In the event that the foregoing disclosure is omitted or is determined to be incorrect, the Legal Department shall promptly file such information with the SEC as an amendment to Form N- CSR.

In such an event, the Fund Chief Compliance Officer shall review the Code and propose such changes to the Code as are necessary or appropriate to prevent reoccurrences.

**Exhibit A**

**ACKNOWLEDGMENT FORM**

**Franklin Templeton Funds Code of Ethics**

**For Principal Executives and Senior Financial Officers**

**Instructions:**

&nbsp;&nbsp;&nbsp;&nbsp;1. Complete
 all sections of this form.

&nbsp;&nbsp;&nbsp;&nbsp;2. Print
 the completed form, sign, and date.

&nbsp;&nbsp;&nbsp;&nbsp;3. Submit
 completed form to FT's General Counsel c/o Code of Ethics Administration within 10
 days of becoming a Covered Officer and by February 15<sup>th</sup> of each subsequent year.

---

| | |
|:---|:---|
| **E-mail:** | Code of Ethics Inquiries & Requests (internal address);<br> lpreclear@franklintempleton.com (external address) |

---

---

| |
|:---|
| **Covered Officer's Name:** |
| **Title:** |
| **Department:** |
| **Location:** |
| **Certification for Year Ending:** |

---

***To: Franklin Resources General Counsel, Legal Department***

I acknowledge receiving, reading and understanding the Franklin Templeton Fund's Code of Ethics for Principal Executive Officers and Senior Financial Officers (the "Code"). I will comply fully with all provisions of the Code to the extent they apply to me during the period of my employment. I further understand and acknowledge that any violation of the Code may subject me to disciplinary action, including termination of employment.

---

| | |
|:---|:---|
| ***Signature*** | ***Date signed*** |

---

## Ex-99.Cert

CERTIFICATIONS PURSUANT TO SECTION 302

EX-99.CERT

**<u>CERTIFICATIONS</u>**

I, Christopher Kings, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of **Franklin Global Trust;** 

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

Date: September 26, 2025

---

| |
|:---|
| /s/ Christopher Kings |
| Christopher Kings |
| Chief Executive Officer – Finance and Administration |

---

**<u>CERTIFICATIONS</u>**

I, Jeffrey White, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of **Franklin Global Trust**;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial information included in this report, and the financial statements
on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes
in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of,
and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's
ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: September 26, 2025

---

| |
|:---|
| /s/ Jeffrey White |
| Jeffrey White |
| Chief Financial Officer, Chief Accounting Officer and Treasurer |

---

## Exhibit 99.906

CERTIFICATIONS PURSUANT TO SECTION 906

EX-99.906CERT

**CERTIFICATION**

**Christopher Kings,** Chief Executive Officer – Finance and Administration, and **Jeffrey White,** Chief Financial Officer, Chief Accounting Officer and Treasurer of **Franklin Global Trust** (the "Registrant"), each certify to the best of their knowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Registrant's periodic report on Form N-CSR for the period ended **July 31, 2025** (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

---

| | |
|:---|:---|
| **Chief Executive Officer –** | **Chief Financial Officer, Chief** |
| **Finance and Administration** | **Accounting Officer and Treasurer** |
| Franklin Global Trust | Franklin Global Trust |
| /s/ Christopher Kings | /s/ Jeffrey White |
| Christopher Kings | Jeffrey White |

---

Date: September 26, 2025 Date: September 26, 2025

This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Commission.