# EDGAR Filing Document

**Accession Number:** 0000837274
**File Stem:** 0001752724-23-053156
**Filing Date:** 2023-3
**Character Count:** 976011
**Document Hash:** 68bd1bb1c33a698e211c45bf7fb6345d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-053156.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001752724-23-053156

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**EFFECTIVENESS DATE**: 20230313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000837274
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05583
- **FILM NUMBER:** 23727041

**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 VALUEMARK FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN VALUEMARK ANNUITY FUNDS
- **DATE OF NAME CHANGE:** 19881129

## Series and Classes Contracts Data

### FRANKLIN DYNATECH VIP FUND (Series ID: S000007312)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020093 | Class 2      |  |
| C000061775 | Class 4      |  |

### FRANKLIN RISING DIVIDENDS VIP FUND (Series ID: S000007313)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020094 | Class 1      |  |
| C000020095 | Class 2      |  |
| C000061776 | Class 4      |  |

### FRANKLIN SMALL-MID CAP GROWTH VIP FUND (Series ID: S000007314)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020096 | Class 1      |  |
| C000020097 | Class 2      |  |
| C000061777 | Class 4      |  |

### FRANKLIN SMALL CAP VALUE VIP FUND (Series ID: S000007315)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020098 | Class 1      |  |
| C000020099 | Class 2      |  |
| C000061778 | Class 4      |  |

### FRANKLIN STRATEGIC INCOME VIP FUND (Series ID: S000007316)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020100 | Class 1      |  |
| C000020101 | Class 2      |  |
| C000061779 | Class 4      |  |

### FRANKLIN U.S. GOVERNMENT SECURITIES VIP FUND (Series ID: S000007317)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020102 | Class 1      |  |
| C000020103 | Class 2      |  |

### FRANKLIN MUTUAL GLOBAL DISCOVERY VIP FUND (Series ID: S000007319)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020106 | Class 1      |  |
| C000020107 | Class 2      |  |
| C000061781 | Class 4      |  |

### FRANKLIN MUTUAL SHARES VIP FUND (Series ID: S000007320)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020108 | Class 1      |  |
| C000020109 | Class 2      |  |
| C000061782 | Class 4      |  |

### TEMPLETON DEVELOPING MARKETS VIP FUND (Series ID: S000007321)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020110 | Class 1      |  |
| C000020111 | Class 2      |  |
| C000061783 | Class 4      |  |

### TEMPLETON FOREIGN VIP FUND (Series ID: S000007322)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020113 | Class 1      |  |
| C000020114 | Class 2      |  |
| C000061784 | Class 4      |  |

### TEMPLETON GLOBAL BOND VIP FUND (Series ID: S000007325)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020120 | Class 1      |  |
| C000020121 | Class 2      |  |
| C000061787 | Class 4      |  |

### TEMPLETON GROWTH VIP FUND (Series ID: S000007326)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020123 | Class 1      |  |
| C000020124 | Class 2      |  |
| C000061788 | Class 4      |  |

### FRANKLIN GROWTH AND INCOME VIP FUND (Series ID: S000007327)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020125 | Class 1      |  |
| C000020126 | Class 2      |  |

### FRANKLIN INCOME VIP FUND (Series ID: S000007329)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020129 | Class 1      |  |
| C000020130 | Class 2      |  |
| C000061791 | Class 4      |  |

### FRANKLIN LARGE CAP GROWTH VIP FUND (Series ID: S000007330)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020131 | Class 1      |  |
| C000020132 | Class 2      |  |

### FRANKLIN GLOBAL REAL ESTATE VIP FUND (Series ID: S000007333)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020136 | Class 1      |  |
| C000020137 | Class 2      |  |

### Franklin Allocation VIP Fund (Series ID: S000017299)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047853 | Class 1      |  |
| C000047854 | Class 2      |  |
| C000061795 | Class 4      |  |

### Franklin VolSmart Allocation VIP Fund (Series ID: S000040299)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000125189 | Class 2      |  |
| C000125190 | Class 5      |  |
| C000234919 | Class 1      |  |

## Exempt

```

SEC Releases, In the Matter of Age High Income Fund, Inc., et al.,
777 Mariners Island Boulevard, San Mateo, CA 94404, Securities and
 Exchange Commission, (Jan. 13, 1987)
SEC Releases
 Click to open document in a browser
37 SEC-DOCKET 569-02
Release No. IC-15534
File No. 812-6505
January 13, 1987
ORDER PERMITTING JOINT TRADING ACCOUNTS
AGE High Income Fund, Inc; Birr, Wilson Money Fund; Franklin
 California Tax-Free Income Fund, Inc.; Franklin New York Tax-Free
Income Fund, Inc; Franklin California Tax-Free Trust; Franklin
Tax-Free Trust; Franklin Corporate Cash Management Fund; Franklin
 Custodian Funds, Inc; Franklin Equity Fund; Franklin Federal Money
 Fund; Franklin Federal Tax-Free Income Fund; Franklin Gold Fund;
Franklin Money Fund; Franklin Option Fund; Franklin Tax-Exempt Money
 Fund; Franklin New York Tax-Exempt Money Fund; Franklin
Pennsylvania Investors Fund; and Institutional Fiduciary Trust
("Funds") and Franklin Advisers, Inc., filed an application on
 October 17, 1986, and an amendment thereto on November 24,
1986, requesting an order of the Commission under Section 17(d)
 of the Investment Company Act of 1940 ("Act") and Rule 17d-1
 thereunder to permit the Funds, as well as future investment
 companies for which subsidiaries or affiliates of Franklin
 Resources, Inc. serve as investment managers, to deposit
their cash balances remaining uninvested at the end of each
trading day into a single joint account whose daily balance
would be used to enter into one or more repurchase agreements
 in a total amount equal to the aggregate daily balance in
 the account ("Joint Accounts").
On December 17, 1986, a notice was issued (Investment Company
Act Release No. 15485) of the filing of the application. The
 notice gave interested persons an opportunity to request a
hearing and stated that an order disposing of the application
would be issued as of course unless a hearing should be ordered.
 No request for a hearing has been filed, and the Commission has
 not ordered a hearing.
The matter having been considered, it is found that the
participation of the Funds in the Joint Accounts is consistent
 with the provisions, policies and purposes of the Act and that
 their participation in the Joint Accounts is not on a basis less
 advantageous than that of any other participant. Accordingly,
IT IS ORDERED, pursuant to Section 17(d) of the Act and Rule 17d-1
 thereunder that the application to permit the Funds to participate
 in the Joint Accounts as described in the application, be, and
hereby is granted, effective forthwith.
For the Commission, by the Division of Investment Management,
under delegated authority.
Jonathan G. Katz
Secretary

```

## Exempt

```

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940 Release No. 30698 / September 24,
 2013
In the Matter of
FRANKLIN TEMPLETON INTERNATIONAL TRUST FRANKLIN TEMPLETON VARIABLE
 INSURANCE PRODUCTS
TRUST
TEMPLETON INCOME TRUST
TEMPLETON GLOBAL INVESTMENT TRUST FRANKLIN ALTERNATIVE STRATEGIES
 FUNDS
K2/D&S MANAGEMENT CO., L.L.C. TEMPLETON ASSET MANAGEMENT LTD.
FRANKLIN ADVISERS, INC. One Franklin Parkway
San Mateo, CA 94403-1906
(File No. 812-14167)
ORDER UNDER SECTION 6(c) OF THE INVESTMENT COMPANY ACT OF 1940
GRANTING AN EXEMPTION FROM SECTION 15(a) OF THE ACT AND RULE 18f-2
UNDER THE ACT AND CERTAIN DISCLOSURE REQUIREMENTS
Franklin Templeton International Trust, Franklin Templeton Variable
 Insurance Products Trust,
Templeton Income Trust, Templeton Global Investment Trust, Franklin
 Alternative Strategies
Funds, K2/D&S Management Co., L.L.C., Templeton Asset Management
Ltd., and Franklin
Advisers, Inc. filed an application on June 13, 2013, and an
amendment
 to the application on
August 27, 2013, requesting an order under section 6(c) of the
Investment Company Act of 1940
(the "Act") for an exemption from section 15(a) of the Act and
rule 18f-2 under the Act, as well
as from certain disclosure requirements. The order supersedes a
prior order1 and permits
applicants to enter into and materially amend subadvisory agreements
 without shareholder
approval and also grants relief from certain disclosure
requirements.
1 Franklin Advisers, Inc. and Franklin Templeton International
Trust, Investment Company Act Release Nos.
30105 (Jun. 18, 2012) (notice) and 30138 (Jul. 17, 2012) (order).
2
On August 27, 2013, a notice of the filing of the application was
issued (Investment Company
Act Release No. 30679. The notice gave interested persons an
opportunity to request a hearing
and stated that an order granting the application would be issued
unless a hearing was ordered.
No request for a hearing has been filed, and the Commission has
not ordered a hearing.
The matter has been considered and it is found, on the basis of
the information set forth in the
application, as amended, that granting the requested exemption is
 appropriate in the public
interest and consistent with the protection of investors and the
purposes fairly intended by the
policy and provisions of the Act.
Accordingly,
IT IS ORDERED, under section 6(c) of the Act, that the relief
 requested by Franklin Templeton
International Trust, et al. (File No. 812-14167) is granted,
effective immediately, subject to the
conditions contained in the application, as amended.
For the Commission, by the Division of Investment Management,
under delegated authority.
Kevin M. O'Neill
Deputy Secretary

```

## Exempt

```

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release no. 32722/July 3, 2017
________________________________________________
In the Matter of :
:
Franklin Fund Allocator Series :
Franklin Advisers, Inc. :
Franklin Templeton Distributors, Inc. :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14611) :
________________________________________________:
ORDER UNDER SECTION 12(d)(1)(J) OF THE INVESTMENT COMPANY ACT OF
 1940 GRANTING AN EXEMPTION FROM SECTIONS 12(d)(1)(A), (B), AND
 (C) OF THE ACT, UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN EXEMPTION FROM SECTION 17(a) OF THE ACT, AND UNDER
 SECTION 6(C) OF THE ACT FOR AN EXEMPTION FROM RULE 12d1-2(a)
UNDER THE ACT
Franklin Fund Allocator Series, Franklin Advisers, Inc., and
 Franklin Templeton Distributors, Inc. filed an application
on February 9, 2016, and an amendment to the application on
May 23, 2017, requesting an order under section 12(d)(1)(J)
of the Investment Company Act of 1940 (the "Act") granting
 an exemption from sections 12(d)(1)(A), (B), and (C) of the
 Act, under sections 6(c) and 17(b) of the Act granting an
exemption from section 17(a) of the Act, and under section
6(c) of the Act for an exemption from rule 12d1-2(a) under
the Act. The order would permit (a) certain registered open-end
management investment companies that operate as "funds of funds"
 to acquire shares of certain registered open-end management
 investment companies, registered closed-end management investment
 companies, "business development companies," as defined by section
 2(a)(48) of the Act, and registered unit investment trusts that
 are within and outside the same group of investment companies as
 the acquiring investment companies and (b) certain registered
 open-end management investment companies relying on rule 12d1-2
 under the Act to invest in certain financial instruments.
On June 5, 2017, a notice of the filing of the application was
issued (Investment Company Act Release No. 32669). The notice
 gave interested persons an opportunity to request a hearing
 and stated that an order granting the application would be
issued unless a hearing was ordered. No request for a hearing
 has been filed, and the Commission has not ordered a hearing.
2
The matter has been considered and it is found, on the basis
of the information set forth in the application, as amended,
that granting the requested exemption is appropriate in and
consistent with the public interest and consistent with the
protection of investors and the purposes fairly intended by
 the policy and provisions of the Act.
It is also found that the terms of the proposed transactions
 are reasonable and fair and do not involve overreaching, and
 the proposed transactions are consistent with the policies of
 each registered investment company concerned and with the
 general purposes of the Act.
Accordingly,
IT IS ORDERED, that the relief requested under section 12(d)(1)(J)
 of the Act from sections 12(d)(1)(A), (B), and (C) of the Act,
 under sections 6(c) and 17(b) of the Act from section 17(a) of
the Act, and under section 6(c) of the Act for an exemption from
 rule 12d1-2(a) under the Act by Franklin Fund Allocator Series,
et al. (File No. 812-14611) is granted, effective immediately,
subject to the conditions contained in the application, as amended.
For the Commission, by the Division of Investment Management,
 under delegated authority.
Eduardo Aleman
Assistant Secretary

```

## Internal

```

Report of Independent Registered Public Accounting
Firm

To the Board of Trustees of Franklin Templeton Variable
Insurance Products Trust and Shareholders of Franklin Allocation
VIP Fund, Franklin DynaTech VIP Fund, Franklin Global Real
Estate VIP Fund, Franklin Growth and Income VIP Fund, Franklin
Income VIP Fund, Franklin Large Cap Growth VIP Fund, Franklin
Mutual Global Discovery VIP Fund, Franklin Mutual Shares VIP
Fund, Franklin Rising Dividends VIP Fund, Franklin Small Cap
Value VIP Fund, Franklin Small-Mid Cap Growth VIP Fund,
Franklin Strategic Income VIP Fund, Franklin U.S. Government
Securities VIP Fund, Franklin VolSmart Allocation VIP Fund,
Templeton Developing Markets VIP Fund, Templeton Foreign VIP
Fund, Templeton Global Bond VIP Fund and Templeton Growth
VIP Fund.

In planning and performing our audits of the financial statements
of Franklin Allocation VIP Fund, Franklin DynaTech VIP Fund,
Franklin Global Real Estate VIP Fund, Franklin Growth and
Income VIP Fund, Franklin Income VIP Fund, Franklin Large Cap
Growth VIP Fund, Franklin Mutual Global Discovery VIP Fund,
Franklin Mutual Shares VIP Fund, Franklin Rising Dividends VIP
Fund, Franklin Small Cap Value VIP Fund, Franklin Small-Mid
Cap Growth VIP Fund, Franklin Strategic Income VIP Fund,
Franklin U.S. Government Securities VIP Fund, Franklin VolSmart
Allocation VIP Fund, Templeton Developing Markets VIP Fund,
Templeton Foreign VIP Fund, Templeton Global Bond VIP Fund
and Templeton Growth VIP Fund (constituting Franklin
Templeton Variable Insurance Products Trust, hereafter
collectively referred to as the "Funds") as of and for the year ended
December 31, 2022, in accordance with the standards of the Public
Company Accounting Oversight Board (United States) (PCAOB),
we considered the Funds' internal control over financial reporting,
including controls over safeguarding securities, as a basis for
designing our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the
requirements of Form N-CEN, but not for the purpose of
expressing an opinion on the effectiveness of the Funds' internal
control over financial reporting.  Accordingly, we do not express
an opinion on the effectiveness of the Funds' internal control over
financial reporting.

The management of the Funds is responsible for establishing and
maintaining effective internal control over financial reporting. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A company's internal control over
financial reporting is a process designed 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. A
company's internal control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made
only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company's assets that could
have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are
subject to the risk that controls may become inadequate because of
changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency, or a combination
of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement
of the company's annual or interim financial statements will not be
prevented or detected on a timely basis.

Our consideration of the Funds' internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control over financial reporting that might be material
weaknesses under standards established by the PCAOB. However,
we noted no deficiencies in the Funds' internal control over
financial reporting and its operation, including controls over
safeguarding securities, that we consider to be a material weakness
as defined above as of December 31, 2022.

This report is intended solely for the information and use of the
Board of Trustees of Franklin Templeton Variable Insurance
Products Trust and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than
these specified parties.

/s/PricewaterhouseCoopers LLP
San Francisco, California
February 17, 2023

```

## Exempt

```

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release No. 33117 / June 5, 2018
__________________________________________________________________
In the Matter of :
:
FRANKLIN ALTERNATIVE STRATEGIES FUNDS :
FRANKLIN CALIFORNIA TAX-FREE INCOME FUND :
FRANKLIN CALIFORNIA TAX-FREE TRUST :
FRANKLIN CUSTODIAN FUNDS :
FRANKLIN ETF TRUST :
FRANKLIN FEDERAL TAX-FREE INCOME FUND :
FRANKLIN FLOATING RATE MASTER TRUST :
FRANKLIN FUND ALLOCATOR SERIES :
FRANKLIN GLOBAL TRUST :
FRANKLIN GOLD AND PRECIOUS METALS FUND :
FRANKLIN HIGH INCOME TRUST :
FRANKLIN INVESTORS SECURITIES TRUST :
FRANKLIN MANAGED TRUST :
FRANKLIN U.S. GOVERNMENT MONEY FUND :
FRANKLIN MUNICIPAL SECURITIES TRUST :
FRANKLIN MUTUAL SERIES FUNDS :
FRANKLIN NEW YORK TAX-FREE INCOME FUND :
FRANKLIN NEW YORK TAX-FREE TRUST :
FRANKLIN REAL ESTATE SECURITIES TRUST :
FRANKLIN STRATEGIC MORTGAGE PORTFOLIO :
FRANKLIN STRATEGIC SERIES :
FRANKLIN TAX-FREE TRUST :
FRANKLIN TEMPLETON ETF TRUST :
FRANKLIN TEMPLETON GLOBAL TRUST :
FRANKLIN TEMPLETON INTERNATIONAL TRUST :
FRANKLIN TEMPLETON MONEY FUND TRUST :
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST :
FRANKLIN VALUE INVESTORS TRUST :
INSTITUTIONAL FIDUCIARY TRUST :
TEMPLETON CHINA WORLD FUND :
TEMPLETON DEVELOPING MARKETS TRUST :
TEMPLETON FUNDS :
TEMPLETON GLOBAL INVESTMENT TRUST :
TEMPLETON GLOBAL OPPORTUNITIES TRUST :
TEMPLETON GLOBAL SMALLER COMPANIES FUND :
TEMPLETON GROWTH FUND, INC. :
TEMPLETON INCOME TRUST :
TEMPLETON INSTITUTIONAL FUNDS :
THE MONEY MARKET PORTFOLIOS :
FRANKLIN LIMITED DURATION INCOME TRUST :
2
FRANKLIN UNIVERSAL TRUST :
TEMPLETON DRAGON FUND, INC. :
TEMPLETON EMERGING MARKETS FUND :
TEMPLETON EMERGING MARKETS INCOME FUND :
TEMPLETON GLOBAL INCOME FUND :
FRANKLIN ADVISERS, INC. :
FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED :
K2/D&S MANAGEMENT CO., L.L.C. :
FASA LLC :
FRANKLIN TEMPLETON INSTITUTIONAL, LLC :
FRANKLIN ADVISORY SERVICES, LLC :
FRANKLIN MUTUAL ADVISERS, LLC :
TEMPLETON INVESTMENT COUNSEL, LLC :
TEMPLETON ASSET MANAGEMENT LTD. :
TEMPLETON GLOBAL ADVISORS LIMITED :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14819) :
__________________________________________________________________:
ORDER UNDER SECTION 6(c) OF THE INVESTMENT COMPANY ACT OF 1940
GRANTING AN EXEMPTION FROM SECTIONS 18(f) AND 21(b) OF THE ACT;
UNDER
SECTION 12(d)(1)(J) OF THE ACT GRANTING AN EXEMPTION FROM SECTION
12(d)(1) OF THE ACT; UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN
EXEMPTION FROM SECTIONS 17(a)(1), 17(a)(2), AND 17(a)(3) OF THE
 ACT; AND
UNDER SECTION 17(d) OF THE ACT AND RULE 17d-1 UNDER THE ACT TO
 PERMIT
CERTAIN JOINT ARRANGEMENTS AND TRANSACTIONS
Franklin Alternative Strategies Funds, Franklin California Tax-Free
 Income Fund, Franklin
California Tax-Free Trust, Franklin Custodian Funds, Franklin ETF
Trust, Franklin Federal Tax-
Free Income Fund, Franklin Floating Rate Master Trust, Franklin Fund
 Allocator Series, Franklin
Global Trust, Franklin Gold and Precious Metals Fund, Franklin High
 Income Trust, Franklin
Investors Securities Trust, Franklin Managed Trust, Franklin U.S.
 Government Money Fund,
Franklin Municipal Securities Trust, Franklin Mutual Series Funds,
 Franklin New York Tax-Free
Income Fund, Franklin New York Tax-Free Trust, Franklin Real Estate
 Securities Trust, Franklin
Strategic Mortgage Portfolio, Franklin Strategic Series, Franklin
 Tax-Free Trust, Franklin
Templeton ETF Trust, Franklin Templeton Global Trust, Franklin
Templeton International Trust,
Franklin Templeton Money Fund Trust, Franklin Templeton Variable
 Insurance Products Trust,
Franklin Value Investors Trust, Institutional Fiduciary Trust,
 Templeton China World Fund,
Templeton Developing Markets Trust, Templeton Funds, Templeton
 Global Investment Trust,
Templeton Global Opportunities Trust, Templeton Global Smaller
 Companies Fund, Templeton
Growth Fund, Inc., Templeton Income Trust, Templeton Institutional
Funds, The Money Market
Portfolios, Franklin Limited Duration Income Trust, Franklin
 Universal Trust, Templeton Dragon
Fund, Inc., Templeton Emerging Markets Fund, Templeton Emerging
 Markets Income Fund, and
Templeton Global Income Fund, Franklin Advisers, Inc., Franklin
 Templeton Investment
Management Limited, K2/D&S Management Co., L.L.C., FASA LLC,
Franklin Templeton
Institutional, LLC, Franklin Advisory Services, LLC, Franklin
Mutual Advisers, LLC, Templeton
3
Investment Counsel, LLC, Templeton Asset Management Ltd., and
 Templeton Global Advisors
Limited filed an application on September 14, 2017, and an
amendment on March 9, 2018.
Applicants requested an order under section 6(c) of the Investment
 Company Act of 1940 (the
"Act") for an exemption from sections 18(f) and 21(b) of the Act,
 under section 12(d)(1)(J) of
the Act for an exemption from section 12(d)(1) of the Act, under
 sections 6(c) and 17(b) of the
Act for an exemption from sections 17(a)(1), 17(a)(2), and 17(a)(3)
 of the Act, and under section
17(d) of the Act and rule 17d-1 under the Act to permit certain
joint arrangements and
transactions. The order supersedes a prior order1 and permits
certain registered management
investment companies to participate in a joint lending and
borrowing facility.
On May 10, 2018, a notice of the filing of the application was
 issued (Investment Company Act
Release No. 33095). The notice gave interested persons an
 opportunity to request a hearing and
stated that an order disposing of the application would be issued
unless a hearing was ordered.
No request for a hearing has been filed, and the Commission has
not ordered a hearing.
The matter has been considered and it is found, on the basis of
the information set forth in the
application, as amended, that granting the requested exemption
 is consistent with and appropriate
in the public interest, and consistent with the protection of
investors and the purposes fairly
intended by the policy and provisions of the Act.
It is also found that the terms of the proposed transactions,
including the consideration to be paid
or received, are reasonable and fair and do not involve
overreaching on the part of any person
concerned, and that the proposed transactions are consistent
with the policy of each registered
investment company concerned and the general purposes of the
 Act.
It is further found that the participation of each registered
 investment company in the proposed
credit facility is consistent with the provisions, policies,
and purposes of the Act, and not on a
basis different from or less advantageous than that of other
participants.
Accordingly, in the matter of Franklin Alternative Strategies
Funds, et al., (File No. 812-14819),
IT IS ORDERED, under section 6(c) of the Act, that the requested
 exemptions from sections
18(f) and 21(b) of the Act are granted, effective immediately,
 subject to the conditions in the
application, as amended.
IT IS FURTHER ORDERED, under section 12(d)(1)(J) of the Act,
that the requested exemption
from section 12(d)(1) of the Act is granted, effective immediately,
 subject to the conditions in
the application, as amended.
IT IS FURTHER ORDERED, under sections 6(c) and 17(b) of the Act,
 that the requested
exemptions from sections 17(a)(1), 17(a)(2), and 17(a)(3) of the
 Act are granted, effective
immediately, subject to the conditions in the application, as
amended.
1 Franklin Gold Fund, et al., Investment Company Act Release Nos.
 24016 (Sept. 16, 1999) (notice) and
24080 (Oct. 13, 1999) (order).
4
IT IS FURTHER ORDERED, under section 17(d) of the Act and rule
17d-1 under the Act, that
the proposed transactions are approved, effective immediately,
 subject to the conditions in the
application, as amended.
For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman
Assistant Secretary

```

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000837274

## N-CEN: Series/Class (Contract) Information

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2022-12-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Franklin Templeton Variable Insurance Products Trust

- **Item B.1.b - Investment Company Act file number:** 811-05583

- **Item B.1.c - CIK:** 0000837274

- **Item B.1.d - LEI:** 549300PIBKZH7YTTWU55

- **Item B.2.a - Street 1:** One Franklin Parkway

- **Item B.2.b - City:** San Mateo

- **Item B.2.c - State:** CA

- **Item B.2.e - Zip Code:** 94403-1906

- **Item B.2.f - Telephone:** 650-312-2000

- **Item B.2.g - Public Website:** franklintempleton.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Franklin Mutual Advisers, LLC

- **b. Street 1:** 101 John F. Kennedy Parkway

- **Street 2:** Short Hills

- **c. City:** New Jersey

- **d. State, if applicable:** NJ

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 07078-2789

- **g. Telephone number:** 973-912-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** ClearBridge Investments, LLC

- **b. Street 1:** 620 Eighth Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10018

- **g. Telephone number:** 212-805-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 390 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-464-1909

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Custodian

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** Templeton Global Advisors Limited

- **b. Street 1:** Lyford Cay

- **c. City:** Nassau New Providence

- **f. Zip code and zip code extension, or foreign postal code:** N7759

- **g. Telephone number:** 242-362-4600

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** Templeton Asset Management Ltd.

- **b. Street 1:** 7 Temasek Boulevard

- **Street 2:** #38-03 Suntec Tower One

- **c. City:** Singapore

- **f. Zip code and zip code extension, or foreign postal code:** 038987

- **g. Telephone number:** 656-241-0777

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Brandywine Global Investment Management, LLC

- **b. Street 1:** 1735 Market Street

- **Street 2:** Suite 1800

- **c. City:** Philadelphia

- **d. State, if applicable:** PA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 19103

- **g. Telephone number:** 215-609-3500

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 380 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-270-6000

- **h. Briefly describe the books and records kept at this location:** Records relating to its functions as Sub-Administrator and Fund Accounting Agent

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Administrative manager

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Institutional, LLC

- **b. Street 1:** 280 Park Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-632-3000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company, LLC

- **b. Street 1:** 385 East Colorado Boulevard

- **Street 2:** Pasadena

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 91101

- **g. Telephone number:** 626-844-9400

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 11**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company, Limited

- **b. Street 1:** 10 Exchange Square

- **Street 2:** Primrose Street

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** EC2A 2EN

- **g. Telephone number:** 44-20-7422-3000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 12**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Investor Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Transfer agent

**Location books Record: 13**

- **a. Name of person (e.g., a custodian of records):** Templeton Investment Counsel, LLC

- **b. Street 1:** 300 S.E. 2nd Street

- **c. City:** Fort Lauderdale

- **d. State, if applicable:** FL

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 33301-1923

- **g. Telephone number:** 954-527-7500

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 14**

- **a. Name of person (e.g., a custodian of records):** FIS Investor Services, LLC /TA

- **b. Street 1:** 4249 Easton Way Suite 400

- **c. City:** Columbus

- **d. State, if applicable:** OH

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 43219

- **g. Telephone number:** 614-337-6605

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Sub-Transfer agent

**Location books Record: 15**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Principal underwriter

**Location books Record: 16**

- **a. Name of person (e.g., a custodian of records):** Franklin Advisers, Inc.

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 17**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Investment Management Limited

- **b. Street 1:** Cannon Place

- **Street 2:** 78 Cannon Street

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** EC4N 6HL

- **g. Telephone number:** 44-20-7073-8500

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 18**

- **a. Name of person (e.g., a custodian of records):** The Bank of New York Mellon

- **b. Street 1:** 111 Sanders Creek Parkway

- **c. City:** East Syracuse

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 13057

- **g. Telephone number:** 855-231-1706

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Custodian

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Franklin Templeton Group of Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 18

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                   | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                                                                                       |
|:---|:---|:---|
| Valerie M. Williams    | No                      | 811-01608, 811-04149, 811-04356, 811-03479, 811-04986, 811-07288, 811-02605, 811-06243, 811-08034, 811-07851, 811-10157, 811-21357, 811-01700, 811-04267, 811-07038, 811-04894, 811-05583, 811-04787, 811-03395, 811-00537, 811-02790, 811-06481, 811-05569, 811-09869                                                                                                                                                                      |
| Edith E. Holiday       | No                      | 811-04787, 811-07876, 811-07851, 811-21357, 811-06135, 811-01608, 811-02781, 811-06378, 811-05569, 811-04985, 811-05583, 811-04986, 811-04149, 811-05459, 811-08394, 811-10157, 811-04892, 811-09869, 811-00537, 811-04706, 811-02790, 811-02605, 811-06481, 811-08034, 811-03395, 811-03479, 811-07038, 811-04267, 811-08226, 811-06243, 811-04894, 811-07866, 811-04356, 811-03143, 811-01700, 811-07288                                  |
| Rupert H. Johnson, Jr. | Yes                     | 811-04267, 811-04986, 811-08394, 811-08226, 811-05569, 811-09869, 811-04787, 811-02605, 811-07288, 811-05459, 811-03395, 811-03143, 811-01700, 811-04985, 811-06378, 811-08034, 811-10157, 811-07876, 811-05583, 811-03479, 811-06243, 811-04706, 811-01608, 811-07866, 811-21357, 811-07038, 811-04892, 811-02781, 811-04894, 811-06481, 811-00537, 811-07851, 811-02790, 811-04149, 811-04356, 811-06135                                  |
| J. Michael Luttig      | No                      | 811-04894, 811-04706, 811-07866, 811-02790, 811-07876, 811-05459, 811-03143, 811-02781, 811-02605, 811-03479, 811-03395, 811-04267, 811-04356, 811-04986, 811-07288, 811-08034, 811-05569, 811-08394, 811-07851, 811-06378, 811-04787, 811-06243, 811-04149, 811-04985, 811-04892, 811-06135, 811-05583, 811-21357, 811-00537, 811-10157, 811-01608, 811-07038, 811-08226, 811-01700, 811-09869, 811-06481                                  |
| Harris J. Ashton       | No                      | 811-02790, 811-04985, 811-07038, 811-06135, 811-05459, 811-01608, 811-07876, 811-04356, 811-04267, 811-07851, 811-07866, 811-04706, 811-03479, 811-02781, 811-00537, 811-06378, 811-05569, 811-21357, 811-08226, 811-06481, 811-02605, 811-06243, 811-04892, 811-09869, 811-04149, 811-04894, 811-10157, 811-03143, 811-03395, 811-04986, 811-04787, 811-01700, 811-08394, 811-07288, 811-05583, 811-08034                                  |
| Larry D. Thompson      | No                      | 811-04706, 811-04267, 811-08394, 811-03395, 811-05569, 811-04149, 811-04356, 811-02790, 811-01608, 811-04986, 811-04892, 811-01700, 811-21357, 811-08034, 811-03143, 811-05583, 811-07038, 811-09869, 811-06135, 811-06243, 811-07851, 811-10157, 811-04787, 811-07876, 811-02781, 811-02605, 811-00537, 811-06481, 811-03479, 811-07866, 811-05459, 811-08226, 811-07288, 811-06378, 811-04894, 811-04985                                  |
| Mary C. Choksi         | No                      | 811-21357, 811-04149, 811-01700, 811-06481, 811-04985, 811-02605, 811-04894, 811-10157, 811-06378, 811-04787, 811-02781, 811-04986, 811-07038, 811-00537, 811-03479, 811-04267, 811-05459, 811-07851, 811-04356, 811-05569, 811-04892, 811-08394, 811-08034, 811-06243, 811-07866, 811-04706, 811-03395, 811-01608, 811-02790, 811-08226, 811-07876, 811-06135, 811-09869, 811-07288, 811-05583, 811-03143                                  |
| Gregory E. Johnson     | Yes                     | 811-03143, 811-04787, 811-05387, 811-04892, 811-02781, 811-01700, 811-21357, 811-04356, 811-05583, 811-08394, 811-05878, 811-06378, 811-10157, 811-05569, 811-04149, 811-04706, 811-08034, 811-01608, 811-07866, 811-00537, 811-22641, 811-09869, 811-07288, 811-06135, 811-03479, 811-07876, 811-02790, 811-04894, 811-08226, 811-07851, 811-05459, 811-02605, 811-04985, 811-04986, 811-04267, 811-03395, 811-06481, 811-06243, 811-07038 |
| Terrence J. Checki     | No                      | 811-03395, 811-01700, 811-02790, 811-02605, 811-10157, 811-05569, 811-06243, 811-07038, 811-06481, 811-04986, 811-09869, 811-04787, 811-21357, 811-04356, 811-08034, 811-01608, 811-00537, 811-07851, 811-04267, 811-04894, 811-07288, 811-03479, 811-05583, 811-04149                                                                                                                                                                      |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Breda M. Beckerle

- **b. CRD Number, if any:** N/A

- **c. Street Address 1:** 280 Park Avenue

- **d. City:** New York

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 10017

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-32722
  - IC-15534
  - IC-33117
  - IC-30698

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 8-5889

- **iii. CRD number:** 000000332

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PRICEWATERHOUSECOOPERS LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Franklin Small Cap Value VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Small Cap Value VIP Fund

- **b. Series identification number, if any:** S000007315

- **c. LEI:** 549300MV3JXN6V8BPD91

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020098                                | N/A                          |
|                           2 | Class 2                 | C000020099                                | N/A                          |
|                           3 | Class 4                 | C000061778                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Mutual Advisers, LLC

- **ii. SEC file number:** 801-53068

- **iii. CRD number:** 000111376

- **iv. LEI, if any:** 549300700KN6X7XAH545

- **v. State, if applicable:** NJ

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** CITIBANK EUROPE PLC GREECE BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 14**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 20**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $38,133.36

**Brokers Record: 2**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $29,463.91

**Brokers Record: 3**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $91,350.37

**Brokers Record: 4**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $54,713.53

**Brokers Record: 5**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $33,862.53

**Brokers Record: 6**

- **i. Full name of broker:** Wallachbeth Capital LLC

- **ii. SEC file number:** 8-67936

- **iii. CRD number:** 000147853

- **iv. LEI, if any:** 549300R371KUKXEXC133

- **v. State, if applicable:** NJ

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $30,055.45

**Brokers Record: 7**

- **i. Full name of broker:** Keefe, Bruyette & Woods, Inc.

- **ii. SEC file number:** 8-10888

- **iii. CRD number:** 000000481

- **iv. LEI, if any:** 549300OM47DQV01G4854

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $26,264.20

**Brokers Record: 8**

- **i. Full name of broker:** Credit Suisse Securities (USA) LLC

- **ii. SEC file number:** 8-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $23,397.81

**Brokers Record: 9**

- **i. Full name of broker:** Wall Street Access

- **ii. SEC file number:** 8-25936

- **iii. CRD number:** 000010012

- **iv. LEI, if any:** 549300Z0MOT47D6OQV22

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $26,325.35

**Brokers Record: 10**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INCORPORATED

- **ii. SEC file number:** 8-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

- **v. State, if applicable:** WI

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,483.32

**Aggregate Commission:** $634,488.99

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Sanford C. Bernstein & Co., LLC       | 8-52942           | 000104474    | 549300I7JYZHT7D5CO04 | NY      | US        | $12.69                    |
| Needham & Company, LLC                | 8-33772           | 000016360    | 254900J2GFQ4J4NK1J89 | NY      | US        | $1,274.44                 |
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $557,662,771.30           |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $291,288.89               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $557,955,347.32

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $1,091,760,989.17

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 2 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 4 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 5 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 6 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 8 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 9 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 10 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 11 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 13 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 14 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 16 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 17 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 18 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 19 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 20 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Natural Resources Fund                                | 811-06243         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Total Return Fund                                     | 811-04986         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| ClearBridge Value Trust                                        | 811-22338         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Templeton China World Fund                                     | 811-07876         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Templeton Global Bond Fund                                     | 811-04706         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Managed Income fund                                   | 811-04986         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| International Equity Series                                    | 811-06135         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin International Growth Fund                             | 811-10157         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Franklin Income VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Income VIP Fund

- **b. Series identification number, if any:** S000007329

- **c. LEI:** EC5RL2TXCF76ZEXHFH77

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020129                                | N/A                          |
|                           2 | Class 4                 | C000061791                                | N/A                          |
|                           3 | Class 2                 | C000020130                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $10,476,088.20

- **g. Provide the net income from securities lending activities:** $212,058.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** IHS Markit Group Holdings Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 13**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 16**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** HSBC BANK (CHINA) COMPANY LIMITED

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $24,306.91

**Brokers Record: 2**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $61,384.53

**Brokers Record: 3**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $84,322.12

**Brokers Record: 4**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $36,012.45

**Brokers Record: 5**

- **i. Full name of broker:** Wells Fargo Securities, LLC

- **ii. SEC file number:** 8-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $39,000.14

**Brokers Record: 6**

- **i. Full name of broker:** BMO Nesbitt Burns Securities Ltd.

- **ii. SEC file number:** 8-50538

- **iii. CRD number:** 000044057

- **iv. LEI, if any:** M3LKFDNSJGJ7TMLH6Z15

- **vii. Gross commissions paid by the Fund for the reporting period:** $25,047.53

**Brokers Record: 7**

- **i. Full name of broker:** Credit Suisse Securities (USA) LLC

- **ii. SEC file number:** 8-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $34,622.80

**Brokers Record: 8**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $28,230.71

**Brokers Record: 9**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $33,507.65

**Brokers Record: 10**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,676.81

**Aggregate Commission:** $520,922.89

**Item C.17.a. Principal transaction counterparties.**

| Name                               | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Citadel Securities LLC             | 8-53574           | 000116797    | 12UUJYTN7D3SW8KCSG25 | IL      | US        | $119,762,109.38           |
| Bank of New York Mellon Corp.      | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $2,717,878,496.22         |
| J.P. Morgan Securities LLC         | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $419,983,459.04           |
| Citigroup Global Markets Inc.      | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $238,103,850.31           |
| Goldman Sachs & Co. LLC            | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $159,751,738.65           |
| BNP Paribas Securities Corp.       | 8-32682           | 000015794    | RCNB6OTYUAMMP879YW96 | NY      | US        | $144,097,845.51           |
| BofA Securities, Inc.              | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $190,642,680.24           |
| Credit Suisse Securities (USA) LLC | 8-00422           | 000000816    | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $131,627,994.73           |
| Barclays Capital, Inc.             | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $433,832,855.97           |
| RBC Capital Markets, LLC           | 8-45411           | 000031194    | 549300LCO2FLSSVFFR64 | NY      | US        | $166,984,755.58           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $5,438,067,687.02

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $3,304,082,731.18

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 5 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 6 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 7 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 8 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 9 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 11 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 14 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 15 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 17 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 18 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 19 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 20 Name of institution:** ROYAL BANK OF CANADA

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Mutual European Fund                                  | 811-05387         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| ClearBridge Value Trust                                        | 811-22338         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Western Asset Total Return ETF                                 | 811-23096         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Global Equity Fund                                    | 811-06444         |
| International Equity Series                                    | 811-06135         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Total Return Fund                                     | 811-04986         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Templeton World Fund                                           | 811-02781         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Templeton China World Fund                                     | 811-07876         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Templeton Foreign Fund                                         | 811-02781         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Templeton International Bond Fund                              | 811-04706         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Western Asset California Municipals Fund                       | 811-04254         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 3 - Templeton Developing Markets VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Templeton Developing Markets VIP Fund

- **b. Series identification number, if any:** S000007321

- **c. LEI:** 549300EAXT75AUVWZ721

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 2                 | C000020111                                | N/A                          |
|                           2 | Class 4                 | C000061783                                | N/A                          |
|                           3 | Class 1                 | C000020110                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $1,201,764.20

- **g. Provide the net income from securities lending activities:** $3,430.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Templeton Asset Management Ltd.

- **ii. SEC file number:** 801-46997

- **iii. CRD number:** 000111382

- **iv. LEI, if any:** 7AYVD3NQFQ1OTZURH567

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** Standard Chartered Bank Korea Limited

- **ii. LEI, if any:** NUXTG47HHHM1K2L0SG39

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** HSBC Bank Middle East Limited

- **ii. LEI, if any:** 549300F99IL9YJDWH369

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** Citibank, N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** UniCredit Bank Czech Republic and Slovakia, a.s.

- **ii. LEI, if any:** KR6LSKV3BTSJRD41IF75

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** HSBC Bank Bermuda Limited

- **ii. LEI, if any:** 0W1U67PTV5WY3WYWKD79

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** Stanbic Bank Tanzania Limited

- **ii. LEI, if any:** 254900KTPAR5XL4FSN64

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** Standard Chartered Bank Ghana Limited

- **ii. LEI, if any:** 549300WFGKTC3MGDCX95

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** HSBC Bank (Vietnam) Ltd.

- **ii. LEI, if any:** 213800H95OG9OHRT4Y78

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** HSBC Bank Malaysia Berhad

- **ii. LEI, if any:** P3RPN9OJFCXUPJWB1Q09

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** UniCredit Bank Czech Republic and Slovakia, a.s.

- **ii. LEI, if any:** KR6LSKV3BTSJRD41IF75

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** HSBC Bank Oman S.A.O.G.

- **ii. LEI, if any:** 213800YRPSOSH9OA2V29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** Mizuho Bank, Ltd.

- **ii. LEI, if any:** RB0PEZSDGCO3JS6CEU02

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** HSBC Bank Argentina S.A.

- **ii. LEI, if any:** 549300K52NF2S4SQDO82

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** Citibank A.S.

- **ii. LEI, if any:** CWZ8NZDH5SKY12Q4US31

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** J.P. Morgan Bank International (Limited Liability Company)

- **ii. LEI, if any:** 549300B831LSRSI6RA15

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** FirstRand Bank Limited

- **ii. LEI, if any:** ZAYQDKTCATIXF9OQY690

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** Bank Leumi le-Israel B.M.

- **ii. LEI, if any:** 7JDSZWRGUQY2DSTWCR57

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** Standard Chartered Bank Zambia Plc

- **ii. LEI, if any:** 549300247QDZHDI30A83

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** Standard Chartered Bank (Pakistan) Limited

- **ii. LEI, if any:** 549300YTOMKUNPUTB551

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** Banco BCT, S.A.

- **ii. LEI, if any:** 25490061PVFNGN0YMO97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** Banco Itau Uruguay S.A.

- **ii. LEI, if any:** 549300HU8OQS1VTVXN55

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** Standard Chartered Bank

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** Unicredit Bank Srbija a.d.

- **ii. LEI, if any:** 52990001O0THU00TYK59

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 28**

- **i. Full name:** HSBC France Athens Branch

- **ii. LEI, if any:** MP6I5ZYZBEU3UXPYFY54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** Standard Chartered Bank Botswana Limited

- **ii. LEI, if any:** 5493007VY27WWF8FF542

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** HSBC Bank Middle East Limited

- **ii. LEI, if any:** 549300F99IL9YJDWH369

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** Bank Handlowy w. Warszawie S.A.

- **ii. LEI, if any:** XLEZHWWOI4HFQDGL4793

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** J.P. Morgan Saudi Arabia Company

- **ii. LEI, if any:** 549300HST49806XTCK29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 36**

- **i. Full name:** CACEIS Bank Spain, S.A.U.

- **ii. LEI, if any:** 95980020140005970915

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** Stanbic IBTC Bank Plc

- **ii. LEI, if any:** 029200098C3K8BI2D551

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 39**

- **i. Full name:** Standard Bank Namibia Limited

- **ii. LEI, if any:** 254900K6TJFDYKSQWV49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** Royal Bank of Canada

- **ii. LEI, if any:** ES7IP3U3RHIGC71XBU11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** HSBC Bank Middle East Limited

- **ii. LEI, if any:** 549300F99IL9YJDWH369

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 42**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 43**

- **i. Full name:** HSBC Bank (China) Company Limited

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 44**

- **i. Full name:** Banco Nacional de Mexico, S.A.

- **ii. LEI, if any:** 2SFFM4FUIE05S37WFU55

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 45**

- **i. Full name:** Banco Santander Chile

- **ii. LEI, if any:** 3YJP8HORPAEXJ80D6368

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 46**

- **i. Full name:** PT Bank HSBC Indonesia

- **ii. LEI, if any:** 213800HW5IDIRLWH1203

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 47**

- **i. Full name:** BNP Paribas Securities Services S.C.A.

- **ii. LEI, if any:** 549300WCGB70D06XZS54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 48**

- **i. Full name:** Euroclear

- **ii. LEI, if any:** 549300OZ46BRLZ8Y6F65

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 49**

- **i. Full name:** Deutsche Bank AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 50**

- **i. Full name:** Cititrust Colombia S.A.

- **ii. LEI, if any:** 549300242J3IJCOSGI49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 51**

- **i. Full name:** HSBC Bank Middle East Limited

- **ii. LEI, if any:** 549300F99IL9YJDWH369

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 52**

- **i. Full name:** UBS Switzerland AG

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 53**

- **i. Full name:** Citibank del Peru S.A.

- **ii. LEI, if any:** MYTK5NHHP1G8TVFGT193

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 54**

- **i. Full name:** Standard Chartered Bank (Thai) Public Company Limited

- **ii. LEI, if any:** 549300O1LQYCQ7G1IM57

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 55**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 56**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 57**

- **i. Full name:** BNP Paribas Securities Services S.C.A.

- **ii. LEI, if any:** 549300WCGB70D06XZS54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 58**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 59**

- **i. Full name:** UniCredit Bank Austria AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 60**

- **i. Full name:** DBS Bank Ltd

- **ii. LEI, if any:** ATUEL7OJR5057F2PV266

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 61**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 62**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 63**

- **i. Full name:** Societe Generale Marocaine de Banques

- **ii. LEI, if any:** 549300WHIMVBNIDQWK21

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 64**

- **i. Full name:** Standard Chartered Bank Kenya Limited

- **ii. LEI, if any:** 549300RBHWW5EJIRG629

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 65**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 66**

- **i. Full name:** J.P. Morgan S.A. DTVM

- **ii. LEI, if any:** 5493001LS7J56NZZ3G07

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 67**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 68**

- **i. Full name:** Deutsche Bank AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,527.22

**Brokers Record: 2**

- **i. Full name of broker:** CITIC Securities International USA, LLC

- **ii. SEC file number:** 8-68887

- **iii. CRD number:** 000158266

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,052.22

**Brokers Record: 3**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,685.50

**Brokers Record: 4**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,301.42

**Brokers Record: 5**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,239.55

**Brokers Record: 6**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,662.37

**Brokers Record: 7**

- **i. Full name of broker:** Credit Suisse Securities (USA) LLC

- **ii. SEC file number:** 8-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $12,269.53

**Brokers Record: 8**

- **i. Full name of broker:** Bay Crest Partners, LLC

- **ii. SEC file number:** 8-48931

- **iii. CRD number:** 000039944

- **iv. LEI, if any:** 549300CTRRO8C3BU3H64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,892.45

**Brokers Record: 9**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,840.30

**Brokers Record: 10**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,113.41

**Aggregate Commission:** $101,161.78

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $94,679.74                |
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $104,503,955.25           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $105,520,031.95

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $248,538,560.01

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 8 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 9 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 10 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 11 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 13 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 14 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 15 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 16 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 17 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 18 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 19 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 20 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset Income Fund                                      | 811-04254         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| International Equity Series                                    | 811-06135         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Select Fund                                        | 811-06444         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin International Equity Fund                             | 811-22338         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Templeton Developing Markets Trust                             | 811-06378         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Total Return Fund                                     | 811-04986         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Managed Income fund                                   | 811-04986         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Templeton International Bond Fund                              | 811-04706         |
| Templeton International Climate Change Fund                    | 811-02781         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Income Fund                                           | 811-00537         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Templeton Foreign Fund                                         | 811-02781         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 4 - Franklin Rising Dividends VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Rising Dividends VIP Fund

- **b. Series identification number, if any:** S000007313

- **c. LEI:** 5493003Y1ZI4IWT5WO58

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 4                 | C000061776                                | N/A                          |
|                           2 | Class 1                 | C000020094                                | N/A                          |
|                           3 | Class 2                 | C000020095                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 15**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** HSBC BANK (CHINA) COMPANY LIMITED

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,914.50

**Brokers Record: 2**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,512.50

**Brokers Record: 3**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 8-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

- **v. State, if applicable:** FL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,278.75

**Brokers Record: 4**

- **i. Full name of broker:** Wells Fargo Securities, LLC

- **ii. SEC file number:** 8-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,787.75

**Brokers Record: 5**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,679.30

**Brokers Record: 6**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,640.00

**Brokers Record: 7**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,262.50

**Brokers Record: 8**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,050.25

**Brokers Record: 9**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,713.75

**Brokers Record: 10**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $12,386.00

**Aggregate Commission:** $85,677.74

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $771,683,704.25           |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $340,951.30               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $772,024,655.55

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $1,386,720,334.91

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 2 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 3 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 7 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 8 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 10 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 11 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 13 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 14 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 15 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 17 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 18 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 19 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 20 Name of institution:** STANDARD CHARTERED BANK

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| ClearBridge Select Fund                                        | 811-06444         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| International Equity Series                                    | 811-06135         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Western Asset Income Fund                                      | 811-04254         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Templeton International Bond Fund                              | 811-04706         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Utilities Fund                                        | 811-00537         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Growth Fund                                           | 811-00537         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Mutual European Fund                                  | 811-05387         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset Total Return ETF                                 | 811-23096         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 5 - Templeton Growth VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Templeton Growth VIP Fund

- **b. Series identification number, if any:** S000007326

- **c. LEI:** 549300415YWG9GLE3697

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 4                 | C000061788                                | N/A                          |
|                           2 | Class 1                 | C000020123                                | N/A                          |
|                           3 | Class 2                 | C000020124                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $11,532,980.68

- **g. Provide the net income from securities lending activities:** $92,036.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Templeton Global Advisors Limited

- **ii. SEC file number:** 801-42343

- **iii. CRD number:** 000111383

- **iv. LEI, if any:** HV4XALAFPV7TLW1V3873

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** Royal Bank of Canada

- **ii. LEI, if any:** ES7IP3U3RHIGC71XBU11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** Deutsche Bank AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** Bank Leumi le-Israel B.M.

- **ii. LEI, if any:** 7JDSZWRGUQY2DSTWCR57

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** FirstRand Bank Limited

- **ii. LEI, if any:** ZAYQDKTCATIXF9OQY690

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** Citibank, N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** BNP Paribas Securities Services S.C.A.

- **ii. LEI, if any:** 549300WCGB70D06XZS54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** Euroclear

- **ii. LEI, if any:** 549300OZ46BRLZ8Y6F65

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 14**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 15**

- **i. Full name:** Bank Handlowy w. Warszawie S.A.

- **ii. LEI, if any:** XLEZHWWOI4HFQDGL4793

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** Citibank del Peru S.A.

- **ii. LEI, if any:** MYTK5NHHP1G8TVFGT193

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** Standard Chartered Bank Korea Limited

- **ii. LEI, if any:** NUXTG47HHHM1K2L0SG39

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** Citibank Europe plc

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** Deutsche Bank AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** CACEIS Bank Spain, S.A.U.

- **ii. LEI, if any:** 95980020140005970915

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** PT Bank HSBC Indonesia

- **ii. LEI, if any:** 213800HW5IDIRLWH1203

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** HSBC Bank Argentina S.A.

- **ii. LEI, if any:** 549300K52NF2S4SQDO82

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** Standard Chartered Bank (Thai) Public Company Limited

- **ii. LEI, if any:** 549300O1LQYCQ7G1IM57

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** J.P. Morgan S.A. DTVM

- **ii. LEI, if any:** 5493001LS7J56NZZ3G07

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** UBS Switzerland AG

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** Banco Nacional de Mexico, S.A.

- **ii. LEI, if any:** 2SFFM4FUIE05S37WFU55

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** HSBC Bank Bermuda Limited

- **ii. LEI, if any:** 0W1U67PTV5WY3WYWKD79

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** BNP Paribas Securities Services S.C.A.

- **ii. LEI, if any:** 549300WCGB70D06XZS54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 36**

- **i. Full name:** HSBC Bank (China) Company Limited

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** DBS Bank Ltd

- **ii. LEI, if any:** ATUEL7OJR5057F2PV266

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** Mizuho Bank, Ltd.

- **ii. LEI, if any:** RB0PEZSDGCO3JS6CEU02

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 39**

- **i. Full name:** UniCredit Bank Austria AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** UniCredit Bank Czech Republic and Slovakia, a.s.

- **ii. LEI, if any:** KR6LSKV3BTSJRD41IF75

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 42**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 43**

- **i. Full name:** HSBC France Athens Branch

- **ii. LEI, if any:** MP6I5ZYZBEU3UXPYFY54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 44**

- **i. Full name:** EUROCLEAR

- **ii. LEI, if any:** 549300OZ46BRLZ8Y6F65

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 45**

- **i. Full name:** Citibank A.S.

- **ii. LEI, if any:** CWZ8NZDH5SKY12Q4US31

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $11,777.40

**Brokers Record: 2**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,048.69

**Brokers Record: 3**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,146.59

**Brokers Record: 4**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $19,351.97

**Brokers Record: 5**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $19,508.18

**Brokers Record: 6**

- **i. Full name of broker:** Liquidnet, Inc.

- **ii. SEC file number:** 8-52461

- **iii. CRD number:** 000103987

- **iv. LEI, if any:** 213800HSKBBO1GCVRG79

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,928.56

**Brokers Record: 7**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,302.57

**Brokers Record: 8**

- **i. Full name of broker:** Credit Suisse Securities (USA) LLC

- **ii. SEC file number:** 8-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,681.52

**Brokers Record: 9**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,619.66

**Brokers Record: 10**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,369.13

**Aggregate Commission:** $170,376.72

**Item C.17.a. Principal transaction counterparties.**

| Name                                             | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| TD SECURITIES (USA) LLC                          | 8-36747           | 000018476    | SUVUFHICNZMP2WKHG940 | NY      | US        | $750,000,000.00           |
| J.P. Morgan Securities LLC                       | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $14,699,926.04            |
| RBC Capital Markets, LLC                         | 8-45411           | 000031194    | 549300LCO2FLSSVFFR64 | NY      | US        | $2,909,300,000.00         |
| National Australia Bank Limited, New York Branch | N/A               | N/A          | 549300E2IPL06NDXMZ63 | NY      | US        | $686,600,000.00           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $4,365,742,969.40

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $399,445,402.41

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 2 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 3 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 7 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 8 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 10 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 11 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 13 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 15 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 18 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 19 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 20 Name of institution:** CREDIT SUISSE AG

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| International Equity Series                                    | 811-06135         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Income Fund                                           | 811-00537         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Templeton China World Fund                                     | 811-07876         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Templeton International Bond Fund                              | 811-04706         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| ClearBridge Value Trust                                        | 811-22338         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Managed Income fund                                   | 811-04986         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Templeton International Climate Change Fund                    | 811-02781         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 6 - Franklin Mutual Global Discovery VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Mutual Global Discovery VIP Fund

- **b. Series identification number, if any:** S000007319

- **c. LEI:** YODRUTY3CCY05H8LZY15

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 2                 | C000020107                                | N/A                          |
|                           2 | Class 4                 | C000061781                                | N/A                          |
|                           3 | Class 1                 | C000020106                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $4,303,212.19

- **g. Provide the net income from securities lending activities:** $31,151.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Mutual Advisers, LLC

- **ii. SEC file number:** 801-53068

- **iii. CRD number:** 000111376

- **iv. LEI, if any:** 549300700KN6X7XAH545

- **v. State, if applicable:** NJ

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** IHS Markit Group Holdings Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** CITIBANK EUROPE PLC HUNGARIAN BRANCH

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** CITIBANK EUROPE PLC GREECE BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 11**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** BANK POLSKA KASA OPIEKI SA - BANK PEKAO SA

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** HSBC BANK BERMUDA LIMITED

- **ii. LEI, if any:** 0W1U67PTV5WY3WYWKD79

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** STANDARD CHARTERED BANK MALAYSIA BERHAD

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** DEUTSCHE BANK A.S.

- **ii. LEI, if any:** 789000N5SE3LWDK7OI11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 36**

- **i. Full name:** BANK HAPOALIM B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** HSBC BANK (TAIWAN) LIMITED

- **ii. LEI, if any:** 549300SG184IVNYDMN03

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 39**

- **i. Full name:** CITIBANK EUROPE PLC GREECE BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** CITIBANK MAGHREB

- **ii. LEI, if any:** 5493003FVWLMBFTISI11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 42**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 43**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 44**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $31,253.10

**Brokers Record: 2**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,135.85

**Brokers Record: 3**

- **i. Full name of broker:** REDBURN (USA) LLC

- **ii. SEC file number:** 8-67320

- **iii. CRD number:** 000140564

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,519.34

**Brokers Record: 4**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,897.69

**Brokers Record: 5**

- **i. Full name of broker:** Keefe, Bruyette & Woods, Inc.

- **ii. SEC file number:** 8-10888

- **iii. CRD number:** 000000481

- **iv. LEI, if any:** 549300OM47DQV01G4854

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,727.91

**Brokers Record: 6**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $21,840.34

**Brokers Record: 7**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,318.05

**Brokers Record: 8**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $25,820.34

**Brokers Record: 9**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $30,984.24

**Brokers Record: 10**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $15,731.77

**Aggregate Commission:** $256,704.42

**Item C.17.a. Principal transaction counterparties.**

| Name                                       | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Citigroup Global Markets Inc.              | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $178,880.00               |
| Barclays Capital, Inc.                     | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $2,662,605.42             |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | 8-07221           | 000007691    | 8NAV47T0Y26Q87Y0QP81 | NY      | US        | $260,730.00               |
| Goldman Sachs & Co. LLC                    | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $336,793.94               |
| Credit Suisse Securities (USA) LLC         | 8-00422           | 000000816    | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $331,300,000.00           |
| J.P. Morgan Securities LLC                 | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $18,405,225.12            |
| INTL FCStone Financial Inc.                | 8-51269           | 000045993    | 549300LNKU6K5TJCRG93 | FL      | US        | $258,290.67               |
| RBC Capital Markets, LLC                   | 8-45411           | 000031194    | 549300LCO2FLSSVFFR64 | NY      | US        | $188,750.00               |
| Jefferies LLC                              | 8-15074           | 000002347    | 58PU97L1C0WSRCWADL48 | NY      | US        | $582,414,627.06           |
| Bank of New York Mellon Corp.              | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $554,443,717.20           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,490,523,005.13

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $453,594,784.84

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 3 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 5 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 6 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 7 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 8 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 9 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 10 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 11 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 12 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 13 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 14 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 15 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 16 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 17 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 18 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 19 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 20 Name of institution:** MORGAN STANLEY BANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Total Return Fund                                     | 811-04986         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Utilities Fund                                        | 811-00537         |
| Western Asset Income Fund                                      | 811-04254         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Templeton International Bond Fund                              | 811-04706         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Managed Income fund                                   | 811-04986         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Equity Income Fund                                    | 811-04986         |
| ClearBridge Select Fund                                        | 811-06444         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Global Equity Fund                                    | 811-06444         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| International Equity Series                                    | 811-06135         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin International Small Cap Fund                          | 811-10157         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| ClearBridge International Growth Fund                          | 811-22338         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Floating Rate Master Series                           | 811-09869         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 7 - Franklin Global Real Estate VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Global Real Estate VIP Fund

- **b. Series identification number, if any:** S000007333

- **c. LEI:** 549300LR72E5IYXZC867

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 2

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020136                                | N/A                          |
|                           2 | Class 2                 | C000020137                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $979,947.03

- **g. Provide the net income from securities lending activities:** $5,281.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Templeton Institutional, LLC

- **ii. SEC file number:** 801-60684

- **iii. CRD number:** 000117384

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** STANDARD CHARTERED BANK MALAYSIA BERHAD

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 27**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,129.89

**Brokers Record: 2**

- **i. Full name of broker:** BTIG, LLC

- **ii. SEC file number:** 8-65473

- **iii. CRD number:** 000122225

- **iv. LEI, if any:** 549300GTG9PL6WO3EC51

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,595.20

**Brokers Record: 3**

- **i. Full name of broker:** Instinet, LLC

- **ii. SEC file number:** 8-23669

- **iii. CRD number:** 000007897

- **iv. LEI, if any:** 549300MGMN3RKMU8FT57

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,023.75

**Brokers Record: 4**

- **i. Full name of broker:** Credit Suisse Securities (USA) LLC

- **ii. SEC file number:** 8-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,347.17

**Brokers Record: 5**

- **i. Full name of broker:** Mizuho Securities USA LLC

- **ii. SEC file number:** 8-37710

- **iii. CRD number:** 000019647

- **iv. LEI, if any:** 7TK5RJIZDFROZCA6XF66

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,110.50

**Brokers Record: 6**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INCORPORATED

- **ii. SEC file number:** 8-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

- **v. State, if applicable:** WI

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,740.97

**Brokers Record: 7**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,518.10

**Brokers Record: 8**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,622.58

**Brokers Record: 9**

- **i. Full name of broker:** Evercore Group L.L.C.

- **ii. SEC file number:** 8-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,568.49

**Brokers Record: 10**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,110.92

**Aggregate Commission:** $39,025.00

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| J.P. Morgan Securities LLC    | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $199,665.00               |
| Exane, Inc.                   | 8-49569           | 000041784    | 6SDWK6FV8H98XAGSYS75 | NY      | US        | $156,492.98               |
| Bank of New York Mellon Corp. | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $217,000,074.47           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $217,356,232.45

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $126,118,641.24

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 2 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 3 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 6 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 7 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 8 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 11 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 12 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 13 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 15 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 16 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 17 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 18 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 19 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 20 Name of institution:** STANDARD CHARTERED BANK

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Templeton Global Bond Fund                                     | 811-04706         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin International Growth Fund                             | 811-10157         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| International Equity Series                                    | 811-06135         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Templeton International Bond Fund                              | 811-04706         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Templeton China World Fund                                     | 811-07876         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset Corporate Bond Fund                              | 811-04254         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 8 - Franklin Small-Mid Cap Growth VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Small-Mid Cap Growth VIP Fund

- **b. Series identification number, if any:** S000007314

- **c. LEI:** 549300EJP5P7UN3DQF32

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020096                                | N/A                          |
|                           2 | Class 2                 | C000020097                                | N/A                          |
|                           3 | Class 4                 | C000061777                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $1,850,377.44

- **g. Provide the net income from securities lending activities:** $31,397.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 22**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,099.40

**Brokers Record: 2**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,915.80

**Brokers Record: 3**

- **i. Full name of broker:** Evercore Group L.L.C.

- **ii. SEC file number:** 8-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,458.58

**Brokers Record: 4**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,800.44

**Brokers Record: 5**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,771.39

**Brokers Record: 6**

- **i. Full name of broker:** Wells Fargo Securities, LLC

- **ii. SEC file number:** 8-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,887.58

**Brokers Record: 7**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $15,750.38

**Brokers Record: 8**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,310.85

**Brokers Record: 9**

- **i. Full name of broker:** State Street Global Markets, LLC

- **ii. SEC file number:** 8-69862

- **iii. CRD number:** 000285852

- **iv. LEI, if any:** 549300FDEDF5ORXCMQ56

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $21,826.16

**Brokers Record: 10**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,818.75

**Aggregate Commission:** $152,431.11

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $60,900.00                |
| Direct Investment India               | N/A               | N/A          | N/A                  |  |  | $399,998.73               |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $240,299.35               |
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $193,999,474.04           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $194,700,672.12

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $417,941,371.31

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 2 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 3 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 7 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 8 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 11 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 12 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 13 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 14 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 15 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 16 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 17 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 18 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 19 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 20 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Templeton International Bond Fund                              | 811-04706         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Managed Income fund                                   | 811-04986         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Total Return Fund                                     | 811-04986         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| International Equity Series                                    | 811-06135         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| ClearBridge Value Trust                                        | 811-22338         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 9 - Franklin Strategic Income VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Strategic Income VIP Fund

- **b. Series identification number, if any:** S000007316

- **c. LEI:** JKDEJYWPH1AMTBKZ6M57

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020100                                | N/A                          |
|                           2 | Class 2                 | C000020101                                | N/A                          |
|                           3 | Class 4                 | C000061779                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $469,155.26

- **g. Provide the net income from securities lending activities:** $4,653.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4(f)(17 CFR 270.18f-4(f))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** IHS Markit Group Holdings Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Kroll, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 549300W01Z54L5RHPJ40

- **iii. State, if applicable:** IL

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** HSBC BANK EGYPT S.A.E

- **ii. LEI, if any:** 2138001Q77JDLESS4Y50

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** DEUTSCHE BANK A.S.

- **ii. LEI, if any:** 789000N5SE3LWDK7OI11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** STANBIC BANK ZAMBIA LTD.

- **ii. LEI, if any:** 549300HF45VBQ8L4HF36

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** BANK HAPOALIM B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** LANDSBANKINN HF

- **ii. LEI, if any:** 549300TLZPT6JELDWM92

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** CITIBANK EUROPE PLC, POBOCKA ZAHRAN ICNEJ BANKY

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** STANBIC BANK GHANA LIMITED

- **ii. LEI, if any:** 549300M3N5M3E5WDG321

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** BANCO ITAU

- **ii. LEI, if any:** 549300HU8OQS1VTVXN55

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** STANDARD CHARTERED BANK MALAYSIA BERHAD

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 28**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** PRIVREDNA BANKA ZAGREB D.D.

- **ii. LEI, if any:** 549300ZHFZ4CSK7VS460

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** BANK POLSKA KASA OPIEKI SA - BANK PEKAO SA

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** BANCO SANTANDER CHILE

- **ii. LEI, if any:** 3YJP8HORPAEXJ80D6368

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** CITIBANK EUROPE PLC GREECE BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 36**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** STANBIC BANK BOTSWANA LIMITED

- **ii. LEI, if any:** 254900CFACP5V9H8W758

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 39**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 42**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 43**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 44**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 45**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 46**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** US Bank National Association

- **ii. LEI, if any, or other identifying number:** 5493001WC5CQQI9L9G80

- **iii. State, if applicable:** OH

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 3**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,137.50

**Brokers Record: 2**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,746.74

**Aggregate Commission:** $4,884.24

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $45,285,832.21            |
| Citigroup Global Markets Inc.         | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $53,733,019.94            |
| BofA Securities, Inc.                 | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $36,744,229.70            |
| Barclays Capital, Inc.                | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $22,624,713.03            |
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $246,690,722.33           |
| HSBC Securities (USA) Inc.            | 8-41562           | 000019585    | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $44,095,277.52            |
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $35,708,262.66            |
| Wells Fargo Securities, LLC           | 8-65876           | 000126292    | VYVVCKR63DVZZN70PB21 | NC      | US        | $31,669,932.85            |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $44,878,053.44            |
| Nomura Securities International, Inc. | 8-15255           | 000004297    | OXTKY6Q8X53C9ILVV871 | NY      | US        | $22,602,859.38            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $668,605,500.01

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $334,267,505.58

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 2 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 4 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 6 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 7 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 9 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 10 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 11 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 13 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 14 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 15 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 18 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 19 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 20 Name of institution:** STATE STREET BANK AND TRUST COMPANY

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| International Equity Series                                    | 811-06135         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Global Allocation Fund                                | 811-07851         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin Income Fund                                           | 811-00537         |
| Templeton Developing Markets Trust                             | 811-06378         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Equity Income Fund                                    | 811-04986         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Western Asset Total Return ETF                                 | 811-23096         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Total Return Fund                                     | 811-04986         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin International Equity Fund                             | 811-22338         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Income Fund                                      | 811-04254         |
| ClearBridge Value Trust                                        | 811-22338         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 10 - Templeton Foreign VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Templeton Foreign VIP Fund

- **b. Series identification number, if any:** S000007322

- **c. LEI:** 549300A6DH63HSLHNQ25

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020113                                | N/A                          |
|                           2 | Class 4                 | C000061784                                | N/A                          |
|                           3 | Class 2                 | C000020114                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $20,414,920.77

- **g. Provide the net income from securities lending activities:** $227,193.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Templeton Investment Counsel, LLC

- **ii. SEC file number:** 801-15125

- **iii. CRD number:** 000111370

- **iv. LEI, if any:** D8ZZMLBMZO5UV5R9DG61

- **v. State, if applicable:** FL

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** BNP Paribas Securities Services S.C.A.

- **ii. LEI, if any:** 549300WCGB70D06XZS54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** Standard Chartered Bank (Thai) Public Company Limited

- **ii. LEI, if any:** 549300O1LQYCQ7G1IM57

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** Deutsche Bank AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** Euroclear

- **ii. LEI, if any:** 549300OZ46BRLZ8Y6F65

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 7**

- **i. Full name:** Bank Leumi le-Israel B.M.

- **ii. LEI, if any:** 7JDSZWRGUQY2DSTWCR57

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 9**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** HSBC Bank (China) Company Limited

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** Deutsche Bank AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** DBS Bank Ltd

- **ii. LEI, if any:** ATUEL7OJR5057F2PV266

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** Standard Chartered Bank Kenya Limited

- **ii. LEI, if any:** 549300RBHWW5EJIRG629

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** UniCredit Bank Czech Republic and Slovakia, a.s.

- **ii. LEI, if any:** KR6LSKV3BTSJRD41IF75

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** Standard Chartered Bank Korea Limited

- **ii. LEI, if any:** NUXTG47HHHM1K2L0SG39

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** Citibank A.S.

- **ii. LEI, if any:** CWZ8NZDH5SKY12Q4US31

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** HSBC Bank Bermuda Limited

- **ii. LEI, if any:** 0W1U67PTV5WY3WYWKD79

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** Citibank, N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** Royal Bank of Canada

- **ii. LEI, if any:** ES7IP3U3RHIGC71XBU11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** EUROCLEAR

- **ii. LEI, if any:** 549300OZ46BRLZ8Y6F65

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 28**

- **i. Full name:** Bank Handlowy w. Warszawie S.A.

- **ii. LEI, if any:** XLEZHWWOI4HFQDGL4793

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** J.P. Morgan Bank Luxembourg S.A.

- **ii. LEI, if any:** 549300ZK53CNGEEI6A29

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** CACEIS Bank Spain, S.A.U.

- **ii. LEI, if any:** 95980020140005970915

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** Standard Chartered Bank Botswana Limited

- **ii. LEI, if any:** 5493007VY27WWF8FF542

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** J.P. Morgan S.A. DTVM

- **ii. LEI, if any:** 5493001LS7J56NZZ3G07

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** Mizuho Bank, Ltd.

- **ii. LEI, if any:** RB0PEZSDGCO3JS6CEU02

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** UBS Switzerland AG

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 36**

- **i. Full name:** FirstRand Bank Limited

- **ii. LEI, if any:** ZAYQDKTCATIXF9OQY690

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 39**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** BNP Paribas Securities Services S.C.A.

- **ii. LEI, if any:** 549300WCGB70D06XZS54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 42**

- **i. Full name:** Citibank del Peru S.A.

- **ii. LEI, if any:** MYTK5NHHP1G8TVFGT193

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 43**

- **i. Full name:** UniCredit Bank Austria AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 44**

- **i. Full name:** Banco Nacional de Mexico, S.A.

- **ii. LEI, if any:** 2SFFM4FUIE05S37WFU55

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 45**

- **i. Full name:** HSBC France Athens Branch

- **ii. LEI, if any:** MP6I5ZYZBEU3UXPYFY54

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $20,864.90

**Brokers Record: 2**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $28,625.60

**Brokers Record: 3**

- **i. Full name of broker:** CITIC Securities International USA, LLC

- **ii. SEC file number:** 8-68887

- **iii. CRD number:** 000158266

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $40,078.99

**Brokers Record: 4**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $22,816.78

**Brokers Record: 5**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $21,479.95

**Brokers Record: 6**

- **i. Full name of broker:** Credit Suisse Securities (USA) LLC

- **ii. SEC file number:** 8-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $33,067.83

**Brokers Record: 7**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $18,437.05

**Brokers Record: 8**

- **i. Full name of broker:** Macquarie Group Limited

- **ii. SEC file number:** N/A

- **iii. CRD number:** N/A

- **iv. LEI, if any:** ACMHD8HWFMFUIQQ8Y590

- **vii. Gross commissions paid by the Fund for the reporting period:** $20,429.23

**Brokers Record: 9**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $36,589.10

**Brokers Record: 10**

- **i. Full name of broker:** CanAccord Genuity Wealth Management (USA) Inc.

- **ii. SEC file number:** 8-21025

- **iii. CRD number:** 000007449

- **iv. LEI, if any:** 5493002DR5KW4JP7YS87

- **vii. Gross commissions paid by the Fund for the reporting period:** $20,849.70

**Aggregate Commission:** $357,443.25

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $382,476,367.24           |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $456,661.81               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $382,933,029.05

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $906,445,101.44

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 2 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 3 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 4 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 8 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 10 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 11 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 12 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 13 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 14 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 16 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 17 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 19 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 20 Name of institution:** GOLDMAN SACHS BANK USA

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Templeton China World Fund                                     | 811-07876         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin International Growth Fund                             | 811-10157         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Western Asset Income Fund                                      | 811-04254         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Templeton Global Total Return Fund                             | 811-04706         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Total Return Fund                                     | 811-04986         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| International Equity Series                                    | 811-06135         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin International Equity Fund                             | 811-22338         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| ClearBridge Select Fund                                        | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Global Allocation Fund                                | 811-07851         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Dynatech Fund                                         | 811-00537         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Templeton Foreign Fund                                         | 811-02781         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 11 - Franklin DynaTech VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin DynaTech VIP Fund

- **b. Series identification number, if any:** S000007312

- **c. LEI:** 549300DEK8IHVZ4VM091

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 2

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 2                 | C000020093                                | N/A                          |
|                           2 | Class 4                 | C000061775                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $226,094.30

- **g. Provide the net income from securities lending activities:** $2,319.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** HSBC BANK (CHINA) COMPANY LIMITED

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** BANK POLSKA KASA OPIEKI SA - BANK PEKAO SA

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 18**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 20**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,430.48

**Brokers Record: 2**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,440.47

**Brokers Record: 3**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,060.41

**Brokers Record: 4**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,246.53

**Brokers Record: 5**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,204.76

**Brokers Record: 6**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 8-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

- **v. State, if applicable:** FL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,339.05

**Brokers Record: 7**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,947.82

**Brokers Record: 8**

- **i. Full name of broker:** Wells Fargo Securities, LLC

- **ii. SEC file number:** 8-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,248.25

**Brokers Record: 9**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,254.29

**Brokers Record: 10**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,023.62

**Aggregate Commission:** $22,684.75

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $18,900.00                |
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $53,507,142.19            |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $29,242.72                |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $53,555,284.91

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $110,739,301.07

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 2 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 3 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 4 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 5 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 6 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 9 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 11 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 12 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 13 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 14 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 17 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 19 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 20 Name of institution:** STATE STREET BANK AND TRUST COMPANY

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Total Return ETF                                 | 811-23096         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Managed Income fund                                   | 811-04986         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| International Equity Series                                    | 811-06135         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Templeton International Bond Fund                              | 811-04706         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Templeton China World Fund                                     | 811-07876         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Global Allocation Fund                                | 811-07851         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Income Fund                                      | 811-04254         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 12 - Franklin Growth and Income VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Growth and Income VIP Fund

- **b. Series identification number, if any:** S000007327

- **c. LEI:** 54930062WZFE42YV6G91

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 2

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020125                                | N/A                          |
|                           2 | Class 2                 | C000020126                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $475,544.25

- **g. Provide the net income from securities lending activities:** $2,524.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 18f-4 (17 CFR 270.18f-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 11**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $578.64

**Brokers Record: 2**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $612.18

**Brokers Record: 3**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $345.56

**Brokers Record: 4**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $328.22

**Brokers Record: 5**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $390.24

**Brokers Record: 6**

- **i. Full name of broker:** Credit Suisse Securities (USA) LLC

- **ii. SEC file number:** 8-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $254.48

**Brokers Record: 7**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 8-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

- **v. State, if applicable:** FL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $253.86

**Brokers Record: 8**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $314.31

**Brokers Record: 9**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $363.51

**Brokers Record: 10**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $258.51

**Aggregate Commission:** $4,854.05

**Item C.17.a. Principal transaction counterparties.**

| Name                               | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Barclays Capital, Inc.             | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $420,130.07               |
| UBS Securities LLC                 | 8-22651           | 000007654    | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $287,210.00               |
| BNP Paribas Securities Corp.       | 8-32682           | 000015794    | RCNB6OTYUAMMP879YW96 | NY      | US        | $594,681.17               |
| Bank of New York Mellon Corp.      | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $260,792,239.76           |
| BofA Securities, Inc.              | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $1,124,909.07             |
| Citigroup Global Markets Inc.      | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $1,073,530.99             |
| J.P. Morgan Securities LLC         | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $118,458.35               |
| Goldman Sachs & Co. LLC            | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $299,638.94               |
| Credit Suisse Securities (USA) LLC | 8-00422           | 000000816    | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $790,714.64               |
| RBC Capital Markets, LLC           | 8-45411           | 000031194    | 549300LCO2FLSSVFFR64 | NY      | US        | $1,106,164.71             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $266,690,971.96

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $41,548,682.12

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 2 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 5 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 6 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 7 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 8 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 10 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 11 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 13 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 14 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 15 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 16 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 18 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 19 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 20 Name of institution:** THE BANK OF NEW YORK MELLON

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| International Equity Series                                    | 811-06135         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin International Growth Fund                             | 811-10157         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Utilities Fund                                        | 811-00537         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| ClearBridge International Value Fund                           | 811-06444         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Total Return Fund                                     | 811-04986         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Templeton Foreign Fund                                         | 811-02781         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Value Trust                                        | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 13 - Franklin Large Cap Growth VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Large Cap Growth VIP Fund

- **b. Series identification number, if any:** S000007330

- **c. LEI:** 549300IGPXJX836OZC92

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 2

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 2                 | C000020132                                | N/A                          |
|                           2 | Class 1                 | C000020131                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $1,590,769.22

- **g. Provide the net income from securities lending activities:** $85,732.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 5**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** MKM Partners LLC

- **ii. SEC file number:** 8-53436

- **iii. CRD number:** 000114666

- **iv. LEI, if any:** 25490041O5W104HFWA62

- **v. State, if applicable:** CT

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $805.95

**Brokers Record: 2**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,537.08

**Brokers Record: 3**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,654.11

**Brokers Record: 4**

- **i. Full name of broker:** Wells Fargo Securities, LLC

- **ii. SEC file number:** 8-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $699.12

**Brokers Record: 5**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,652.86

**Brokers Record: 6**

- **i. Full name of broker:** BTIG, LLC

- **ii. SEC file number:** 8-65473

- **iii. CRD number:** 000122225

- **iv. LEI, if any:** 549300GTG9PL6WO3EC51

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $965.26

**Brokers Record: 7**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,055.44

**Brokers Record: 8**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $764.02

**Brokers Record: 9**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $983.56

**Brokers Record: 10**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $822.66

**Aggregate Commission:** $16,236.69

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Bank of New York Mellon Corp. | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $457,087,108.13           |
| Goldman Sachs & Co. LLC       | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $14,700.00                |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $457,101,808.13

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $94,973,435.69

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 2 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 3 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 7 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 8 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 9 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 10 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 11 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 12 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 13 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 14 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 15 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 16 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 19 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 20 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Floating Rate Master Series                           | 811-09869         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin High Income Fund                                      | 811-01608         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Templeton International Climate Change Fund                    | 811-02781         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Natural Resources Fund                                | 811-06243         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Total Return Fund                                     | 811-04986         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| International Equity Series                                    | 811-06135         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| ClearBridge International Growth Fund                          | 811-22338         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 14 - Franklin VolSmart Allocation VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin VolSmart Allocation VIP Fund

- **b. Series identification number, if any:** S000040299

- **c. LEI:** 549300F0GLSXLHBC7574

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 1

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 2                 | C000125189                                | N/A                          |
|                           2 | Class 5                 | C000125190                                | N/A                          |
|                           3 | Class 1                 | C000234919                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** HSBC BANK (CHINA) COMPANY LIMITED

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** PRIVREDNA BANKA ZAGREB D.D.

- **ii. LEI, if any:** 549300ZHFZ4CSK7VS460

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 12**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** STANDARD CHARTERED BANK MALAYSIA BERHAD

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** BANK HAPOALIM B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** HSBC BANK BERMUDA LIMITED

- **ii. LEI, if any:** 0W1U67PTV5WY3WYWKD79

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,087.27

**Brokers Record: 2**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,835.26

**Brokers Record: 3**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $215.69

**Brokers Record: 4**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,886.94

**Brokers Record: 5**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,442.67

**Brokers Record: 6**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $469.74

**Brokers Record: 7**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $238.16

**Brokers Record: 8**

- **i. Full name of broker:** Jane Street Execution Services, LLC

- **ii. SEC file number:** 8-69254

- **iii. CRD number:** 000167280

- **iv. LEI, if any:** 549300HXJLXCPDWAH070

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,213.50

**Brokers Record: 9**

- **i. Full name of broker:** Citadel Securities LLC

- **ii. SEC file number:** 8-53574

- **iii. CRD number:** 000116797

- **iv. LEI, if any:** 12UUJYTN7D3SW8KCSG25

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $477.31

**Brokers Record: 10**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,141.26

**Aggregate Commission:** $26,100.28

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Bank of New York Mellon Corp.         | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $119,204,355.74           |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $4,960,960.22             |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $1,028,017.56             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $125,648,087.68

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $179,717,719.89

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 2 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 3 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 4 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 5 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 6 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 7 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 9 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 10 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 11 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 12 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 13 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 15 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 16 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 17 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 18 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 19 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 20 Name of institution:** UMB BANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Templeton World Fund                                           | 811-02781         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Total Return Fund                                     | 811-04986         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Templeton Foreign Fund                                         | 811-02781         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| International Equity Series                                    | 811-06135         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset California Municipals Fund                       | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Managed Income fund                                   | 811-04986         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 15 - Franklin U.S. Government Securities VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin U.S. Government Securities VIP Fund

- **b. Series identification number, if any:** S000007317

- **c. LEI:** 549300L2E6KSPGTN7F91

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 2

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 1                 | C000020102                                | N/A                          |
|                           2 | Class 2                 | C000020103                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** No

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** IHS Markit Group Holdings Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

No Brokers reported.

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| BofA Securities, Inc.         | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $19,793,779.38            |
| Wells Fargo Securities, LLC   | 8-65876           | 000126292    | VYVVCKR63DVZZN70PB21 | NC      | US        | $4,920,886.41             |
| Citigroup Global Markets Inc. | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $11,330,763.20            |
| Morgan Stanley & Co. LLC      | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $10,053,477.58            |
| Barclays Capital, Inc.        | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $59,369,405.63            |
| Bank of New York Mellon Corp. | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $7,702,914,638.27         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $7,808,382,950.47

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $666,811,699.56

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 2 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 4 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 8 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 10 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 11 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 13 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 15 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 16 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 17 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 18 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 19 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 20 Name of institution:** ROYAL BANK OF CANADA

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| International Equity Series                                    | 811-06135         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Templeton International Climate Change Fund                    | 811-02781         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| ClearBridge Select Fund                                        | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Managed Income fund                                   | 811-04986         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Total Return Fund                                     | 811-04986         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Value Trust                                        | 811-22338         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Income Fund                                      | 811-04254         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Templeton China World Fund                                     | 811-07876         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Dynatech Fund                                         | 811-00537         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin High Income Fund                                      | 811-01608         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Mutual Quest Fund                                     | 811-05387         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 16 - Franklin Allocation VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Allocation VIP Fund

- **b. Series identification number, if any:** S000017299

- **c. LEI:** 549300R5W9YDCLEGMF76

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 4                 | C000061795                                | N/A                          |
|                           2 | Class 1                 | C000047853                                | N/A                          |
|                           3 | Class 2                 | C000047854                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-8162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Western Asset Management Company, Limited

- **ii. SEC file number:** 801-21068

- **iii. CRD number:** 000110427

- **iv. LEI, if any:** 549300IVCLHPHPOYT226

- **v. Is the sub-adviser an affiliated person?:** No

- **vi. Foreign country, if applicable:** GB

**Sub-adviser Record: 3**

- **i. Full name:** Franklin Templeton Institutional, LLC

- **ii. SEC file number:** 801-60684

- **iii. CRD number:** 000117384

- **iv. LEI, if any:** 549300RQFX1DXB0AF136

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 4**

- **i. Full name:** Brandywine Global Investment Management, LLC

- **ii. SEC file number:** 801-27797

- **iii. CRD number:** 000110783

- **iv. LEI, if any:** 8GTBE30G9EQQ2JEJZ302

- **v. Is the sub-adviser an affiliated person?:** No

**Sub-adviser Record: 5**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** No

**Sub-adviser Record: 6**

- **i. Full name:** Templeton Global Advisors Limited

- **ii. SEC file number:** 801-42343

- **iii. CRD number:** 000111383

- **iv. LEI, if any:** HV4XALAFPV7TLW1V3873

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** BS

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** IHS Markit Group Holdings Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** BANK HAPOALIM B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** STANDARD CHARTERED BANK MALAYSIA BERHAD

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** CITIBANK EUROPE PLC, ORGANIZACNI SLOZKA

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** STANBIC BANK ZAMBIA LTD.

- **ii. LEI, if any:** 549300HF45VBQ8L4HF36

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** CITIBANK EUROPE PLC, POBOCKA ZAHRAN ICNEJ BANKY

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** HSBC BANK BERMUDA LIMITED

- **ii. LEI, if any:** 0W1U67PTV5WY3WYWKD79

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** STANBIC BANK GHANA LIMITED

- **ii. LEI, if any:** 549300M3N5M3E5WDG321

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 27**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** CITIBANK MAGHREB

- **ii. LEI, if any:** 5493003FVWLMBFTISI11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 31**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** STANBIC BANK BOTSWANA LIMITED

- **ii. LEI, if any:** 254900CFACP5V9H8W758

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** HSBC BANK EGYPT S.A.E

- **ii. LEI, if any:** 2138001Q77JDLESS4Y50

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 36**

- **i. Full name:** PRIVREDNA BANKA ZAGREB D.D.

- **ii. LEI, if any:** 549300ZHFZ4CSK7VS460

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** STANBIC BANK KENYA LIMITED

- **ii. LEI, if any:** 549300BEL47N4GGJM871

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 39**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** HSBC BANK (CHINA) COMPANY LIMITED

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** DEUTSCHE BANK A.S.

- **ii. LEI, if any:** 789000N5SE3LWDK7OI11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 42**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 43**

- **i. Full name:** CITIBANK EUROPE PLC HUNGARIAN BRANCH

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 44**

- **i. Full name:** HSBC BANK (TAIWAN) LIMITED

- **ii. LEI, if any:** 549300SG184IVNYDMN03

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 45**

- **i. Full name:** CITIBANK EUROPE PLC GREECE BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 46**

- **i. Full name:** BANK POLSKA KASA OPIEKI SA - BANK PEKAO SA

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 47**

- **i. Full name:** LANDSBANKINN HF

- **ii. LEI, if any:** 549300TLZPT6JELDWM92

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 48**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 49**

- **i. Full name:** PJSC ROSBANK

- **ii. LEI, if any:** HOXMZG026UQNRK6J0C60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 50**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 51**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 52**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 53**

- **i. Full name:** BANCO SANTANDER CHILE

- **ii. LEI, if any:** 3YJP8HORPAEXJ80D6368

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 54**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 55**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 56**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 57**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,591.85

**Brokers Record: 2**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $16,877.19

**Brokers Record: 3**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,811.54

**Brokers Record: 4**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,584.11

**Brokers Record: 5**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,516.16

**Brokers Record: 6**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $13,522.97

**Brokers Record: 7**

- **i. Full name of broker:** Piper Sandler & Co.

- **ii. SEC file number:** 8-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,624.07

**Brokers Record: 8**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,792.86

**Brokers Record: 9**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $13,021.01

**Brokers Record: 10**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,007.35

**Aggregate Commission:** $90,598.54

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Bank of Montreal              | N/A               | N/A          | NQQ6HPCNCCU6TUTQYE16 |  |  | $11,461,565.05            |
| Citigroup Global Markets Inc. | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $38,978,819.96            |
| Bank of New York Mellon Corp. | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $376,856,982.45           |
| BofA Securities, Inc.         | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $31,734,067.85            |
| HSBC Securities (USA) Inc.    | 8-41562           | 000019585    | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $17,925,677.34            |
| Wells Fargo Securities, LLC   | 8-65876           | 000126292    | VYVVCKR63DVZZN70PB21 | NC      | US        | $33,016,971.65            |
| Morgan Stanley & Co. LLC      | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $41,482,121.10            |
| Goldman Sachs & Co. LLC       | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $46,479,326.25            |
| J.P. Morgan Securities LLC    | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $355,620,326.00           |
| Barclays Capital, Inc.        | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $24,759,739.12            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,047,236,075.75

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $604,087,367.91

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 2 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 3 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 4 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 5 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 7 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 8 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 9 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 11 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 13 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 14 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 15 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 18 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 19 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 20 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin International Equity Fund                             | 811-22338         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Templeton Global Total Return Fund                             | 811-04706         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Growth Fund                                           | 811-00537         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Income Fund                                      | 811-04254         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| International Equity Series                                    | 811-06135         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Income Fund                                           | 811-00537         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Templeton Foreign Fund                                         | 811-02781         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Templeton World Fund                                           | 811-02781         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 17 - Franklin Mutual Shares VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Mutual Shares VIP Fund

- **b. Series identification number, if any:** S000007320

- **c. LEI:** 1DP83FR2CH0PKYUU1X44

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 4                 | C000061782                                | N/A                          |
|                           2 | Class 2                 | C000020109                                | N/A                          |
|                           3 | Class 1                 | C000020108                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $2,093,979.68

- **g. Provide the net income from securities lending activities:** $4,141.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Mutual Advisers, LLC

- **ii. SEC file number:** 801-53068

- **iii. CRD number:** 000111376

- **iv. LEI, if any:** 549300700KN6X7XAH545

- **v. State, if applicable:** NJ

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** IHS Markit Group Holdings Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** CITIBANK EUROPE PLC GREECE BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** CITIBANK EUROPE PLC GREECE BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** CITIBANK EUROPE PLC HUNGARIAN BRANCH

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** BANK POLSKA KASA OPIEKI SA - BANK PEKAO SA

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** STANDARD CHARTERED BANK MALAYSIA BERHAD

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** HSBC BANK BERMUDA LIMITED

- **ii. LEI, if any:** 0W1U67PTV5WY3WYWKD79

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** HSBC BANK (TAIWAN) LIMITED

- **ii. LEI, if any:** 549300SG184IVNYDMN03

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 36**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 39**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** BANK HAPOALIM B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $73,672.23

**Brokers Record: 2**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $63,548.20

**Brokers Record: 3**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,559.74

**Brokers Record: 4**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $143,097.75

**Brokers Record: 5**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $81,941.39

**Brokers Record: 6**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $72,019.92

**Brokers Record: 7**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $62,308.12

**Brokers Record: 8**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $57,005.02

**Brokers Record: 9**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $61,682.30

**Brokers Record: 10**

- **i. Full name of broker:** Evercore Group L.L.C.

- **ii. SEC file number:** 8-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $86,519.07

**Aggregate Commission:** $1,096,472.85

**Item C.17.a. Principal transaction counterparties.**

| Name                                     | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Jefferies LLC                            | 8-15074           | 000002347    | 58PU97L1C0WSRCWADL48 | NY      | US        | $2,610,509,559.25         |
| Goldman Sachs & Co. LLC                  | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $4,315,773.57             |
| INTL FCStone Financial Inc.              | 8-51269           | 000045993    | 549300LNKU6K5TJCRG93 | FL      | US        | $3,832,259.29             |
| RBC Capital Markets, LLC                 | 8-45411           | 000031194    | 549300LCO2FLSSVFFR64 | NY      | US        | $3,216,297.50             |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           | 000000793    | 5WUVMA08EYG4KEUPW589 | MO      | US        | $12,121,985.00            |
| Deutsche Bank Securities Inc.            | 8-17822           | 000002525    | 9J6MBOOO7BECTDTUZW19 | NY      | US        | $14,089,501.92            |
| Credit Suisse Securities (USA) LLC       | 8-00422           | 000000816    | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $1,909,800,000.00         |
| Barclays Capital, Inc.                   | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $765,477,662.85           |
| J.P. Morgan Securities LLC               | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $120,255,514.75           |
| Bank of New York Mellon Corp.            | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $3,028,006,299.92         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $8,477,040,548.71

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $2,247,874,822.63

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 2 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 3 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 4 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 8 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 9 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 11 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 13 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 14 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 15 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 16 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 17 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 18 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 19 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 20 Name of institution:** JPMORGAN CHASE BANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Foreign Smaller Companies Series                               | 811-06135         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Mutual European Fund                                  | 811-05387         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Growth Fund                                           | 811-00537         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| International Equity Series                                    | 811-06135         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Managed Income fund                                   | 811-04986         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Franklin International Equity Fund                             | 811-22338         |
| Templeton Foreign Fund                                         | 811-02781         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Templeton China World Fund                                     | 811-07876         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Templeton World Fund                                           | 811-02781         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 18 - Templeton Global Bond VIP Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Templeton Global Bond VIP Fund

- **b. Series identification number, if any:** S000007325

- **c. LEI:** V3KXZG7K26O0II8UD472

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 3

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class 4                 | C000061787                                | N/A                          |
|                           2 | Class 1                 | C000020120                                | N/A                          |
|                           3 | Class 2                 | C000020121                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Templeton Investments Corp.

- **ii. LEI, if any:** 5493005DRTG4H4KKYJ69

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(f)(17 CFR 270.18f-4(f))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Global Markets Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 000109120

- **Description of other identifying number:** CRD

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** IHS Markit Group Holdings Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** STANBIC BANK BOTSWANA LIMITED

- **ii. LEI, if any:** 254900CFACP5V9H8W758

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** HSBC BANK EGYPT S.A.E

- **ii. LEI, if any:** 2138001Q77JDLESS4Y50

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** HSBC BANK (CHINA) COMPANY LIMITED

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** BANCO BILBAO VIZCAYA ARGENTARIA S.A

- **ii. LEI, if any:** K8MS7FD7N5Z2WQ51AZ71

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) OSLOFILIALEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 8**

- **i. Full name:** THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** BANCO SANTANDER CHILE

- **ii. LEI, if any:** 3YJP8HORPAEXJ80D6368

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** STANBIC BANK ZAMBIA LTD.

- **ii. LEI, if any:** 549300HF45VBQ8L4HF36

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** HSBC BANK AUSTRALIA LIMITED

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** PRIVREDNA BANKA ZAGREB D.D.

- **ii. LEI, if any:** 549300ZHFZ4CSK7VS460

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** STANBIC BANK UGANDA LIMITED

- **ii. LEI, if any:** 549300CU2GA4XCIHLV64

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** DEUTSCHE BANK AG, SEOUL BRANCH

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** UNICREDIT BANK AUSTRIA AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** BANCO ITAU

- **ii. LEI, if any:** 549300HU8OQS1VTVXN55

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** DEUTSCHE BANK A.S.

- **ii. LEI, if any:** 789000N5SE3LWDK7OI11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** STANBIC BANK GHANA LIMITED

- **ii. LEI, if any:** 549300M3N5M3E5WDG321

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** CITIBANK EUROPE PLC, POBOCKA ZAHRAN ICNEJ BANKY

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 28**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** STANDARD CHARTERED BANK MALAYSIA BERHAD

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** BANK HAPOALIM B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** BANK POLSKA KASA OPIEKI SA - BANK PEKAO SA

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** CITIBANK EUROPE PLC HUNGARIAN BRANCH

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 36**

- **i. Full name:** STANDARD CHARTERED BANK

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 37**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 38**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 39**

- **i. Full name:** SKANDINAVISKA ENSKILDA BANKEN AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 40**

- **i. Full name:** STANDARD BANK OF SOUTH AFRICA LIMITED,THE

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 41**

- **i. Full name:** CITIBANK N.A.

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 42**

- **i. Full name:** MUFG BANK, LTD.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 43**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 44**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 45**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 46**

- **i. Full name:** CREDIT SUISSE (SCHWEIZ) AG

- **ii. LEI, if any:** 549300CWR0W0BCS9Q144

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 47**

- **i. Full name:** DEUTSCHE BANK AG

- **ii. LEI, if any:** 7LTWFZYICNSX8D621K86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 48**

- **i. Full name:** LANDSBANKINN HF

- **ii. LEI, if any:** 549300TLZPT6JELDWM92

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 49**

- **i. Full name:** THE BANK OF NEW YORK MELLON SA/NV

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 50**

- **i. Full name:** CITIBANK EUROPE PLC PORTUGAL BRANCH

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 51**

- **i. Full name:** THE BANK OF NEW YORK MELLON

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 52**

- **i. Full name:** CITIBANK EUROPE PLC, ORGANIZACNI SLOZKA

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 53**

- **i. Full name:** HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

No Brokers reported.

**Item C.17.a. Principal transaction counterparties.**

| Name                                 | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Barclays Capital, Inc.               | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $59,967,997.27            |
| J.P. Morgan Securities LLC           | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $124,576,036.39           |
| Bank of New York Mellon Corp.        | N/A               | N/A          | WFLLPEPC7FZXENRZV188 | NY      | US        | $1,747,612,941.98         |
| BNP Paribas Securities Corp.         | 8-32682           | 000015794    | RCNB6OTYUAMMP879YW96 | NY      | US        | $371,069,372.79           |
| Santander Investment Securities Inc. | 8-47664           | 000037216    | 549300FT36TF8GQFTL08 | NY      | US        | $36,465,799.29            |
| Morgan Stanley & Co. LLC             | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $261,987,479.47           |
| HSBC Securities (USA) Inc.           | 8-41562           | 000019585    | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $279,063,094.39           |
| Citigroup Global Markets Inc.        | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $378,843,034.33           |
| Deutsche Bank Securities Inc.        | 8-17822           | 000002525    | 9J6MBOOO7BECTDTUZW19 | NY      | US        | $156,322,044.17           |
| CIMB Bank Berhad                     | N/A               | N/A          | 549300PLDYJMOW8QKZ45 |  |  | $37,203,577.12            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $3,561,818,711.97

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $1,870,006,446.49

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 4 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 7 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 8 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 10 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 11 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 13 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 14 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 15 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 16 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 17 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 18 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 19 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 20 Name of institution:** CREDIT SUISSE AG

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin MicroCap Value Fund                                   | 811-05878         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Mutual European Fund                                  | 811-05387         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| ClearBridge Select Fund                                        | 811-06444         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| International Equity Series                                    | 811-06135         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Templeton International Bond Fund                              | 811-04706         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Martin Currie International Sustainable Equity Fund            | 811-22338         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Western Asset High Yield Fund                                  | 811-06110         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Templeton Foreign Fund                                         | 811-02781         |
| BrandywineGLOBAL - Dynamic US Large Cap Value Fund             | 811-22338         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge International Growth Fund                          | 811-22338         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Multi-Asset Dynamic Multi-Strategy VIT                | 811-21128         |
| Western Asset Global High Yield Bond Fund                      | 811-04254         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Small Cap Fund                                     | 811-22338         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Franklin Templeton Variable Insurance Products Trust

**Date:** 2022-12-31

**Signature:** Ryan Wheeler

**Title:** Assistant Treasurer