FRANKLIN UNIVERSAL TRUST — Audit Report / Information 2026

Mar 25, 2026

40-17F2 1 fut17f2-20254.htm FUT 17-F2 Untitled Document PAGEBREAK_END

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-17F-2

CERTIFICATE OF ACCOUNTING OF SECURITIES AND SIMILAR

INVESTMENTS IN THE CUSTODY OF

MANAGEMENT INVESTMENT COMPANIES

PURSUANT TO RULE N-17F-2 [17 CFR 270.17f-2]

| 1.
Investment Company Act File Number: | | | | | |
| --- | --- | --- | --- | --- | --- |
| 811-05569 | | | March 16, 2026 | | |
| 2. State Identification Number: | | | | | |
| AL | AK | AZ | AR | CA | CO |
| CT | DE | DC | FL | GA | HI |
| ID | IL | IN | IA | KS | KY |
| LA | ME | MD | MA | MI | MN |
| MS | MO | MT | NE | NV | NH |
| NJ | NM | NY | NC | ND | OH |
| OK | OR | PA | RI | SC | SD |
| TN | TX | UT | VT | VA | WA |
| WV | WI | WY | PUERTO
RICO | | |
| 3. Exact name of investment company as specified in registration
statement: | | | | | |
| Franklin Universal Trust | | | | | |
| 4. Address of principal executive office: (number, street, city, state, zip code) | | | | | |

One Franklin Parkway, San Mateo, CA 94403

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[PWC Logo]

Report of Independent Accountants

To the Boards of Trustees and Management of:

Franklin Custodian Funds Franklin ETF Trust Franklin Fund Allocator Series Franklin Global Trust Franklin Gold and Precious Metals Fund Franklin High Income Trust Franklin Investors Securities Trust Franklin Limited Duration Income Trust Franklin Managed Trust Franklin Real Estate Securities Trust Franklin Strategic Series Franklin Templeton ETF Trust Franklin Templeton Variable Insurance Products Trust Franklin U.S. Government Money Fund Franklin Universal Trust Institutional Fiduciary Trust Templeton Developing Markets Trust Templeton Emerging Markets Fund Templeton Emerging Markets Income Fund Templeton Global Investment Trust Templeton Income Trust Templeton Institutional Funds

And the Boards of Directors and Management of: Templeton Dragon Fund, Inc.

We have examined management's assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that the Funds listed in Attachment A (the “Funds”) complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 (“the Act”) (the “specified requirements”) as of July 31, 2025. The Funds’ management is responsible for its assertion and the Funds' compliance with the specified requirements. Our responsibility is to express an opinion on management's assertion about the Funds' compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated in all material respects. The nature, timing and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP, 405 Howard Street, Suite 600, San Francisco, CA 94105 T: (415) 498 5000, www.pwc.com/us

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[PWC Logo]

Included among our procedures were the following tests performed as of July 31, 2025, and with respect to agreement of security purchases and sales or maturities, for the periods as indicated in Attachment A:

• Confirmation of all securities held by Franklin Templeton Investors Services, Inc. (the “Transfer Agent”), as they pertain to the security positions owned by the Funds and held in book entry form

• Reconciliation of all such securities to the books and records of the Funds and the Transfer Agent

• Agreement of 309 security purchases and 336 security sales or maturities since our last report from the books and records of the Funds to the records of the Transfer Agent confirmations

Our examination does not provide a legal determination on the Funds’ compliance with the specified requirements.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement.

In our opinion, management's assertion that the Funds complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of July 31, 2025 with respect to securities reflected in the investment accounts of the Funds are fairly stated, in all material respects.

This report is intended solely for the information and use of management and the Boards of Trustees or Boards of Directors of the Funds 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

March 16, 2026

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Attachment A

Franklin Custodian Funds:	Examination Period
Franklin DynaTech Fund	May 1, 2025 - July 31, 2025 a
Franklin Growth Fund	May
1, 2025 - July 31, 2025 a
Franklin Income Fund	May 1, 2025 - July 31, 2025 a
Franklin U.S. Government Securities Fund	May 1, 2025 - July 31, 2025 a
Franklin Utilities
Fund	May
1, 2025 - July 31, 2025 a
Franklin ETF Trust:
Franklin Short Duration U.S. Government ETF	May 1, 2025 - July
31, 2025 a
Franklin
Fund Allocator Series:
Franklin Conservative Allocation Fund	May 1, 2025 - July 31, 2025 a
Franklin Corefolio Allocation Fund	May 1, 2025 - July 31, 2025 a
Franklin Emerging
Market Core Equity (IU) Fund	May
1, 2025 - July 31, 2025 a
Franklin Global Allocation Fund	May 1, 2025 - July
31, 2025 a
Franklin Growth Allocation Fund	May 1, 2025 - July 31, 2025 a
Franklin International Core Equity (IU) Fund	May 1, 2025 - July 31, 2025 a
Franklin LifeSmart
Retirement Income Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2020 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2025 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2030 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2035 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2040 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2045 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2050 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2055 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2060 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin Moderate Allocation Fund	May 1, 2025 - July
31, 2025 a
Franklin U.S. Core Equity (IU) Fund	May 1, 2025 - July 31, 2025 a
Franklin Global Trust:
Franklin Emerging Market Debt Opportunities Fund	May 1, 2025 - July 31, 2025 a
Franklin International
Growth Fund	May
1, 2025 - July 31, 2025 a
Franklin Gold and Precious Metals Fund	May 1, 2025 - July 31, 2025 a
Franklin High Income Trust:
Franklin High Income Fund	May
1, 2025 - July 31, 2025 a
Franklin Investors Securities Trust:
Franklin Convertible
Securities Fund	May
1, 2025 - July 31, 2025 a
Franklin Equity Income Fund	May 1, 2025 - July
31, 2025 a
Franklin Floating Rate Daily Access Fund	May 1, 2025 - July
31, 2025 a
Franklin Long Duration Credit Fund	May 1, 2025 - July
31, 2025 a
Franklin Low Duration Total Return Fund	May 1, 2025 - July 31, 2025 a
Franklin Low Duration U.S. Government Securities Fund	May 1, 2025 - July 31, 2025 a
Franklin Managed
Income Fund	May 1, 2025 - July 31, 2025 a
Franklin Total Return
Fund	May
1, 2025 - July 31, 2025 a
Franklin Limited Duration Income Trust	May 1, 2025 - July 31, 2025 a
Franklin Managed Trust:
Franklin Rising Dividends Fund	May 1, 2025 - July 31, 2025 a
Franklin Real Estate Securities Trust:

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| | May 1, 2025 - July
31, 2025 a |
| --- | --- |
| Franklin
Strategic Series: | |
| Franklin Biotechnology Discovery Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Growth Opportunities Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Natural Resources
Fund | May
1, 2025 - July 31, 2025 a |
| Franklin Small Cap Growth Fund | May 1, 2025 - July
31, 2025 a |
| Franklin Small-Mid Cap Growth Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Core Plus Bond Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Templeton
SMACS: Series C | June
20, 2025 (commencement of operations) - July 31, 2025 b |
| Franklin Templeton
SMACS: Series CP | June
20, 2025 (commencement of operations) - July 31, 2025 b |
| Franklin Templeton
SMACS: Series E | May 1, 2025 - July 31, 2025 a |
| Franklin Templeton
SMACS: Series I | May
1, 2025 - July 31, 2025 a |
| Franklin Templeton ETF Trust: | |
| Franklin Emerging Market Core Dividend
Tilt Index ETF | May
1, 2025 - July 31, 2025 a |
| Franklin Exponential Data ETF | May 1, 2025 - July
31, 2025 a |
| Franklin Focused Growth ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Asia ex Japan ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Australia
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Brazil ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Canada ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE China ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Europe ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Eurozone ETF | May 1, 2025 - July
31, 2025 a |
| Franklin FTSE Germany ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE India ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Japan ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Japan Hedged ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Latin
America ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Mexico ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Saudi Arabia ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE South
Korea ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Switzerland ETF | May 1, 2025 - July
31, 2025 a |
| Franklin FTSE Taiwan ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE United Kingdom ETF | May 1, 2025 - July 31, 2025 a |
| Franklin Income Focus
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin International Core Dividend Tilt
Index ETF | May
1, 2025 - July 31, 2025 a |
| Franklin International Dividend Booster
Index ETF (formerly, Franklin International Dividend Multiplier Index ETF) | May 1, 2025 - July 31, 2025 a |
| Franklin Ultra Short
Bond ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Core Bond ETF | May 1, 2025 - July
31, 2025 a |
| Franklin U.S. Core Dividend Tilt Index ETF | May 1, 2025 - July 31, 2025 a |
| Franklin U.S. Dividend
Booster Index ETF (formerly, Franklin U.S. Dividend Multiplier Index ETF) | May 1, 2025 - July 31, 2025 a |
| Franklin U.S. Equity
Index ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Large Cap Multifactor Index
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Mid Cap Multifactor Index
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Small Cap Multifactor Index
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Treasury Bond ETF | May 1, 2025 - July
31, 2025 a |
| Franklin Templeton Variable
Insurance Products Trust: | |
| Franklin Allocation VIP Fund | May 1, 2025 - July 31, 2025 a |
| Franklin DynaTech
VIP Fund | May
1, 2025 - July 31, 2025 a |
| Franklin Income VIP Fund | May 1, 2025 - July
31, 2025 a |

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| | May
1, 2025 - July 31, 2025 b |
| --- | --- |
| Franklin Mutual Shares
VIP Fund | May
1, 2025 - July 31, 2025 b |
| Franklin Rising Dividends VIP Fund | May 1, 2025 - July
31, 2025 a |
| Franklin Small Cap Value VIP Fund | May 1, 2025 - July
31, 2025 a |
| Franklin Small-Mid Cap Growth VIP Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Strategic
Income VIP Fund | May
1, 2025 - July 31, 2025 a |
| Franklin VolSmart Allocation VIP Fund | May 1, 2025 - July
31, 2025 a |
| Templeton Developing Markets VIP Fund | May 1, 2025 - July 31, 2025 a |
| Templeton Foreign
VIP Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Global
Bond VIP Fund | May
1, 2025 - July 31, 2025 a |
| Franklin
U.S. Government Money Fund | May
1, 2025 - July 31, 2025 a |
| Franklin Universal Trust | May 1, 2025 - July 31, 2025 a |
| Institutional
Fiduciary Trust: | |
| Franklin Institutional U.S. Government Money Market Fund (formerly, Money Market
Portfolio) | May
1, 2025 - July 31, 2025 a |
| Templeton
Developing Markets Trust | May
1, 2025 - July 31, 2025 a |
| Templeton
Emerging Markets Fund | May
1, 2025 - July 31, 2025 a |
| Templeton
Emerging Markets Income Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Global Investment Trust: | |
| Franklin Templeton
SMACS: Series EM | May
1, 2025 - July 31, 2025 a |
| Templeton Emerging Markets Small Cap Fund | May 1, 2025 - July
31, 2025 a |
| Templeton Global Dynamic Income Fund (formerly,
Templeton Global Balanced Fund) | May 1, 2025 - July 31, 2025 a |
| Templeton Income Trust: | |
| Templeton Global Bond
Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Global Bond Enhanced Fund (formerly,
Templeton Global Total Return Fund) | May 1, 2025 - July 31, 2025 a |
| Templeton International
Bond Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Sustainable Emerging Markets
Bond Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Institutional Funds: | |
| International Equity Series | May 1, 2025 - July
31, 2025 a |
| Templeton
Dragon Fund, Inc. | May
1, 2025 - July 31, 2025 a |

Legend:

a: April 30, 2025 represents the date of our last examination.

b: Fund was not in scope for the April 30, 2025 examination.

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Franklin Templeton Services, LLC

3355 Data Drive

Rancho Cordova, CA 95670

tel (800) 632.2350

franklintempleton.com

Management Statement Regarding Compliance with Certain

Provisions of the Investment Company Act of 1940

We, as members of management of the Funds listed in Attachment A (the “Funds”), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of July 31, 2025, and for the periods indicated in Attachment A .

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of July 31, 2025 , and for the periods indicated in Attachment A, with respect to securities reflected in the investment account of the Funds.

By:

/s/CHRISTOPHER KINGS Christopher Kings

Chief Executive Officer - Finance and Administration Franklin Templeton Group of Funds Date March 16, 2026

/s/JEFFREY W. WHITE Jeffrey W. White

Chief Financial Officer, Chief Accounting Officer and Treasurer Franklin & Templeton Funds Boards Date March 16, 2026

/s/VIVEK PAI Vivek Pai

Chief Financial Officer, Chief Accounting Officer and Treasurer Franklin Templeton ETF Trust Franklin ETF Trust Date March 16, 2026

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Attachment A

Franklin Custodian Funds:	Examination Period
Franklin DynaTech Fund	May 1, 2025 - July 31, 2025 a
Franklin Growth Fund	May
1, 2025 - July 31, 2025 a
Franklin Income Fund	May 1, 2025 - July 31, 2025 a
Franklin U.S. Government Securities Fund	May 1, 2025 - July 31, 2025 a
Franklin Utilities
Fund	May
1, 2025 - July 31, 2025 a
Franklin ETF Trust:
Franklin Short Duration U.S. Government ETF	May 1, 2025 - July
31, 2025 a
Franklin
Fund Allocator Series:
Franklin Conservative Allocation Fund	May 1, 2025 - July 31, 2025 a
Franklin Corefolio Allocation Fund	May 1, 2025 - July 31, 2025 a
Franklin Emerging
Market Core Equity (IU) Fund	May
1, 2025 - July 31, 2025 a
Franklin Global Allocation Fund	May 1, 2025 - July
31, 2025 a
Franklin Growth Allocation Fund	May 1, 2025 - July 31, 2025 a
Franklin International Core Equity (IU) Fund	May 1, 2025 - July 31, 2025 a
Franklin LifeSmart
Retirement Income Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2020 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2025 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2030 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2035 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2040 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2045 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2050 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2055 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin LifeSmart 2060 Retirement Target
Fund	May
1, 2025 - July 31, 2025 a
Franklin Moderate Allocation Fund	May 1, 2025 - July
31, 2025 a
Franklin U.S. Core Equity (IU) Fund	May 1, 2025 - July 31, 2025 a
Franklin Global Trust:
Franklin Emerging Market Debt Opportunities Fund	May 1, 2025 - July 31, 2025 a
Franklin International
Growth Fund	May
1, 2025 - July 31, 2025 a
Franklin Gold and Precious Metals Fund	May 1, 2025 - July 31, 2025 a
Franklin High Income Trust:
Franklin High Income Fund	May
1, 2025 - July 31, 2025 a
Franklin Investors Securities Trust:
Franklin Convertible
Securities Fund	May
1, 2025 - July 31, 2025 a
Franklin Equity Income Fund	May 1, 2025 - July
31, 2025 a
Franklin Floating Rate Daily Access Fund	May 1, 2025 - July
31, 2025 a
Franklin Long Duration Credit Fund	May 1, 2025 - July
31, 2025 a
Franklin Low Duration Total Return Fund	May 1, 2025 - July 31, 2025 a
Franklin Low Duration U.S. Government Securities Fund	May 1, 2025 - July 31, 2025 a
Franklin Managed
Income Fund	May 1, 2025 - July 31, 2025 a
Franklin Total Return
Fund	May
1, 2025 - July 31, 2025 a
Franklin Limited Duration Income Trust	May 1, 2025 - July 31, 2025 a
Franklin Managed Trust:
Franklin Rising Dividends Fund	May 1, 2025 - July 31, 2025 a
Franklin Real Estate Securities Trust:

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| | May 1, 2025 - July
31, 2025 a |
| --- | --- |
| Franklin
Strategic Series: | |
| Franklin Biotechnology Discovery Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Growth Opportunities Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Natural Resources
Fund | May
1, 2025 - July 31, 2025 a |
| Franklin Small Cap Growth Fund | May 1, 2025 - July
31, 2025 a |
| Franklin Small-Mid Cap Growth Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Core Plus Bond Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Templeton
SMACS: Series C | June
20, 2025 (commencement of operations) - July 31, 2025 b |
| Franklin Templeton
SMACS: Series CP | June
20, 2025 (commencement of operations) - July 31, 2025 b |
| Franklin Templeton
SMACS: Series E | May 1, 2025 - July 31, 2025 a |
| Franklin Templeton
SMACS: Series I | May
1, 2025 - July 31, 2025 a |
| Franklin Templeton ETF Trust: | |
| Franklin Emerging Market Core Dividend
Tilt Index ETF | May
1, 2025 - July 31, 2025 a |
| Franklin Exponential Data ETF | May 1, 2025 - July
31, 2025 a |
| Franklin Focused Growth ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Asia ex Japan ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Australia
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Brazil ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Canada ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE China ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Europe ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Eurozone ETF | May 1, 2025 - July
31, 2025 a |
| Franklin FTSE Germany ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE India ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Japan ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Japan Hedged ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Latin
America ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Mexico ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE Saudi Arabia ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE South
Korea ETF | May
1, 2025 - July 31, 2025 a |
| Franklin FTSE Switzerland ETF | May 1, 2025 - July
31, 2025 a |
| Franklin FTSE Taiwan ETF | May 1, 2025 - July 31, 2025 a |
| Franklin FTSE United Kingdom ETF | May 1, 2025 - July 31, 2025 a |
| Franklin Income Focus
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin International Core Dividend Tilt
Index ETF | May
1, 2025 - July 31, 2025 a |
| Franklin International Dividend Booster
Index ETF (formerly, Franklin International Dividend Multiplier Index ETF) | May 1, 2025 - July 31, 2025 a |
| Franklin Ultra Short
Bond ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Core Bond ETF | May 1, 2025 - July
31, 2025 a |
| Franklin U.S. Core Dividend Tilt Index ETF | May 1, 2025 - July 31, 2025 a |
| Franklin U.S. Dividend
Booster Index ETF (formerly, Franklin U.S. Dividend Multiplier Index ETF) | May 1, 2025 - July 31, 2025 a |
| Franklin U.S. Equity
Index ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Large Cap Multifactor Index
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Mid Cap Multifactor Index
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Small Cap Multifactor Index
ETF | May
1, 2025 - July 31, 2025 a |
| Franklin U.S. Treasury Bond ETF | May 1, 2025 - July
31, 2025 a |
| Franklin Templeton Variable
Insurance Products Trust: | |
| Franklin Allocation VIP Fund | May 1, 2025 - July 31, 2025 a |
| Franklin DynaTech
VIP Fund | May
1, 2025 - July 31, 2025 a |
| Franklin Income VIP Fund | May 1, 2025 - July
31, 2025 a |

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| | May
1, 2025 - July 31, 2025 b |
| --- | --- |
| Franklin Mutual Shares
VIP Fund | May
1, 2025 - July 31, 2025 b |
| Franklin Rising Dividends VIP Fund | May 1, 2025 - July
31, 2025 a |
| Franklin Small Cap Value VIP Fund | May 1, 2025 - July
31, 2025 a |
| Franklin Small-Mid Cap Growth VIP Fund | May 1, 2025 - July 31, 2025 a |
| Franklin Strategic
Income VIP Fund | May
1, 2025 - July 31, 2025 a |
| Franklin VolSmart Allocation VIP Fund | May 1, 2025 - July
31, 2025 a |
| Templeton Developing Markets VIP Fund | May 1, 2025 - July 31, 2025 a |
| Templeton Foreign
VIP Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Global
Bond VIP Fund | May
1, 2025 - July 31, 2025 a |
| Franklin
U.S. Government Money Fund | May
1, 2025 - July 31, 2025 a |
| Franklin Universal Trust | May 1, 2025 - July 31, 2025 a |
| Institutional
Fiduciary Trust: | |
| Franklin Institutional U.S. Government Money Market Fund (formerly, Money Market
Portfolio) | May
1, 2025 - July 31, 2025 a |
| Templeton
Developing Markets Trust | May
1, 2025 - July 31, 2025 a |
| Templeton
Emerging Markets Fund | May
1, 2025 - July 31, 2025 a |
| Templeton
Emerging Markets Income Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Global Investment Trust: | |
| Franklin Templeton SMACS: Series EM | May 1, 2025 - July
31, 2025 a |
| Templeton Emerging Markets Small Cap Fund | May 1, 2025 - July 31, 2025 a |
| Templeton
Global Dynamic Income Fund (formerly, Templeton Global Balanced Fund) | May 1, 2025 - July 31, 2025 a |
| Templeton Income Trust: | |
| Templeton Global Bond
Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Global Bond Enhanced Fund (formerly,
Templeton Global Total Return Fund) | May 1, 2025 - July 31, 2025 a |
| Templeton International
Bond Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Sustainable Emerging Markets
Bond Fund | May
1, 2025 - July 31, 2025 a |
| Templeton Institutional Funds: | |
| International Equity Series | May 1, 2025 - July
31, 2025 a |
| Templeton
Dragon Fund, Inc. | May
1, 2025 - July 31, 2025 a |

Legend:

a: April 30, 2025 represents the date of our last examination.

b: Fund was not in scope for the April 30, 2025 examination.

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