<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001022804</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000052797</seriesId>
        <classId>C000165854</classId>
        <classId>C000165855</classId>
        <classId>C000172220</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Franklin Fund Allocator Series</regName>
      <regFileNumber>811-07851</regFileNumber>
      <regCik>0001022804</regCik>
      <regLei>5493009BPYLDNZHEMO31</regLei>
      <regStreet1>One Franklin Parkway</regStreet1>
      <regCity>San Mateo</regCity>
      <regStateConditional regCountry="US" regState="US-CA"/>
      <regZipOrPostalCode>94403-1906</regZipOrPostalCode>
      <regPhone>650-312-2000</regPhone>
      <seriesName>Franklin NextStep Conservative Fund</seriesName>
      <seriesId>S000052797</seriesId>
      <seriesLei>549300ZD5ZBMSG7E9K91</seriesLei>
      <repPdEnd>2020-05-31</repPdEnd>
      <repPdDate>2020-02-29</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>3955991.27</totAssets>
      <totLiabs>767.18</totLiabs>
      <netAssets>3955224.09</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.17000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000165855" rtn1="0.86261000" rtn2="0.81741500" rtn3="-1.08107020"/>
          <monthlyTotReturn classId="C000165854" rtn1="0.98565260" rtn2="0.81372850" rtn3="-1.07623170"/>
          <monthlyTotReturn classId="C000172220" rtn1="0.96230300" rtn2="0.90493550" rtn3="-1.07623170"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <commodityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
          </commodityContracts>
          <creditContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
          </creditContracts>
          <equityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
          </equityContracts>
          <foreignExchgContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
          </foreignExchgContracts>
          <interestRtContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
          </interestRtContracts>
          <otherContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="-44876.18000000" netUnrealizedAppr="-36203.53000000"/>
        <othMon2 netRealizedGain="-3240.51000000" netUnrealizedAppr="28184.02000000"/>
        <othMon3 netRealizedGain="-5623.02000000" netUnrealizedAppr="-53183.98000000"/>
      </returnInfo>
      <mon1Flow redemption="72453.05000000" reinvestment="62724.41000000" sales="148155.25000000"/>
      <mon2Flow redemption="337834.11000000" reinvestment="0.00000000" sales="127512.33000000"/>
      <mon3Flow redemption="102118.82000000" reinvestment="0.00000000" sales="125789.54000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>TIT-TEMPLETON GLOBAL TOTAL RETURN FUND OEMF USD NPV CL R6 **TIS A/C# 12801**</name>
        <lei>NMESL20JHN7JIFQ0PC46</lei>
        <title>TIT-TEMPLETON GLOBAL TOTAL RETURN FUND OEMF USD NPV CL R6 **TIS A/C# 12801**</title>
        <cusip>880208764</cusip>
        <identifiers>
          <ticker value="FTTRX"/>
          <other otherDesc="Internal Identifier" value="539247"/>
        </identifiers>
        <balance>25322.34000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>274494.17000000</valUSD>
        <pctVal>6.940040911815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares Core MSCI Europe ETF ETF USD NPV</name>
        <lei>549300XU2KDV0C5LCG21</lei>
        <title>iShares Core MSCI Europe ETF ETF USD NPV</title>
        <cusip>46434V738</cusip>
        <identifiers>
          <ticker value="IEUR"/>
          <other otherDesc="Internal Identifier" value="806663"/>
        </identifiers>
        <balance>1225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54451.25000000</valUSD>
        <pctVal>1.376691908245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</name>
        <lei>N/A</lei>
        <title>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</title>
        <cusip>457756500</cusip>
        <identifiers>
          <ticker value="INFXX"/>
          <other otherDesc="Internal Identifier" value="170875"/>
        </identifiers>
        <balance>87526.22200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>87526.22000000</valUSD>
        <pctVal>2.212926954538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FTETFT-Franklin LibertyQ U.S. Equity ETF ETF USD NPV TIS A/C #25773</name>
        <lei>549300OMVSYP2F5WOS42</lei>
        <title>FTETFT-Franklin LibertyQ U.S. Equity ETF ETF USD NPV TIS A/C #25773</title>
        <cusip>35473P801</cusip>
        <identifiers>
          <ticker value="FLQL"/>
          <other otherDesc="Internal Identifier" value="806063"/>
        </identifiers>
        <balance>6735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>215183.25000000</valUSD>
        <pctVal>5.440481881773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEMPLETON DEVELOPING MARKETS TRUST OEMF USD NPV CL R6 TIS A/C# 505</name>
        <lei>549300ZJC3KUG08IH343</lei>
        <title>TEMPLETON DEVELOPING MARKETS TRUST OEMF USD NPV CL R6 TIS A/C# 505</title>
        <cusip>88018W609</cusip>
        <identifiers>
          <ticker value="FDEVX"/>
          <other otherDesc="Internal Identifier" value="538724"/>
        </identifiers>
        <balance>2183.80300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43261.14000000</valUSD>
        <pctVal>1.093772160959</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin FTSE Japan ETF  ETF USD NPV TIS A/C# 26357</name>
        <lei>549300V7MZYC1Z30JS82</lei>
        <title>Franklin FTSE Japan ETF  ETF USD NPV TIS A/C# 26357</title>
        <cusip>35473P744</cusip>
        <identifiers>
          <ticker value="FLJP"/>
          <other otherDesc="Internal Identifier" value="817199"/>
        </identifiers>
        <balance>1040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24168.35000000</valUSD>
        <pctVal>0.611048816705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xtrackers USD High Yield Corporate Bond ETF ETF USD NPV</name>
        <lei>5493000ENPC36KSKPY20</lei>
        <title>Xtrackers USD High Yield Corporate Bond ETF ETF USD NPV</title>
        <cusip>233051432</cusip>
        <identifiers>
          <ticker value="HYLB"/>
          <other otherDesc="Internal Identifier" value="926166"/>
        </identifiers>
        <balance>2885.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>141740.05000000</valUSD>
        <pctVal>3.583616168761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES CORE MSCI EMERGING MARKETS ETF ETF USD NPV</name>
        <lei>5493007C24Z3ZDJ0VD06</lei>
        <title>ISHARES CORE MSCI EMERGING MARKETS ETF ETF USD NPV</title>
        <cusip>46434G103</cusip>
        <identifiers>
          <ticker value="IEMG"/>
          <other otherDesc="Internal Identifier" value="585722"/>
        </identifiers>
        <balance>517.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25183.07000000</valUSD>
        <pctVal>0.636704000252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HENNESSY JAPAN FUND OEMF USD NPV CL Institutional Income</name>
        <lei>254900M06NQALZVTK803</lei>
        <title>HENNESSY JAPAN FUND OEMF USD NPV CL Institutional Income</title>
        <cusip>425894201</cusip>
        <identifiers>
          <ticker value="HJPIX"/>
          <other otherDesc="Internal Identifier" value="800829"/>
        </identifiers>
        <balance>462.73400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16278.98000000</valUSD>
        <pctVal>0.411581736700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prudential Core Bond Fund OEMF USD NPV CL Q</name>
        <lei>N/A</lei>
        <title>Prudential Core Bond Fund OEMF USD NPV CL Q</title>
        <cusip>875921744</cusip>
        <identifiers>
          <ticker value="TPCQX"/>
          <other otherDesc="Internal Identifier" value="873186"/>
        </identifiers>
        <balance>70724.37200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>745434.88000000</valUSD>
        <pctVal>18.84684313803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Emerging Markets Equity Insights Fund OEMF USD 1 INST</name>
        <lei>549300UHNMO4HOGWYU58</lei>
        <title>Goldman Sachs Emerging Markets Equity Insights Fund OEMF USD 1 INST</title>
        <cusip>38144N569</cusip>
        <identifiers>
          <ticker value="GERIX"/>
          <other otherDesc="Internal Identifier" value="954369"/>
        </identifiers>
        <balance>4459.05400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39640.99000000</valUSD>
        <pctVal>1.002243845051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES CORE US AGGREGATE BOND ETF ETF USD NPV</name>
        <lei>549300F7VSXTKBGHJE47</lei>
        <title>ISHARES CORE US AGGREGATE BOND ETF ETF USD NPV</title>
        <cusip>464287226</cusip>
        <identifiers>
          <ticker value="AGG"/>
          <other otherDesc="Internal Identifier" value="326394"/>
        </identifiers>
        <balance>2771.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>322045.62000000</valUSD>
        <pctVal>8.142285055712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIST-FRANKLIN LOW DURATION TOTAL RETURN FUND OEMF USD NPV CL R6 TIS A/C#4991</name>
        <lei>H1JJYRV86MLGMEZLFG42</lei>
        <title>FIST-FRANKLIN LOW DURATION TOTAL RETURN FUND OEMF USD NPV CL R6 TIS A/C#4991</title>
        <cusip>353612534</cusip>
        <identifiers>
          <ticker value="FLRRX"/>
          <other otherDesc="Internal Identifier" value="542463"/>
        </identifiers>
        <balance>31514.61900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>305691.80000000</valUSD>
        <pctVal>7.728811137980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRANKLIN MUTUAL EUROPEAN FUND OEMF USD NPV CL R6 TIS A/C# 433</name>
        <lei>RLTH36HD42VD8KSXLM66</lei>
        <title>FRANKLIN MUTUAL EUROPEAN FUND OEMF USD NPV CL R6 TIS A/C# 433</title>
        <cusip>354026791</cusip>
        <identifiers>
          <ticker value="FMEUX"/>
          <other otherDesc="Internal Identifier" value="538723"/>
        </identifiers>
        <balance>3134.95200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58560.90000000</valUSD>
        <pctVal>1.480596261234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES 7-10 YEAR TREASURY BOND ETF ETF USD1</name>
        <lei>549300XS1PPZG92M8L16</lei>
        <title>ISHARES 7-10 YEAR TREASURY BOND ETF ETF USD1</title>
        <cusip>464287440</cusip>
        <identifiers>
          <ticker value="IEF"/>
          <other otherDesc="Internal Identifier" value="287239"/>
        </identifiers>
        <balance>3970.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>465522.20000000</valUSD>
        <pctVal>11.76980594290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VANGUARD TOTAL INTERNATIONAL BOND ETF ETF USD NPV</name>
        <lei>N/A</lei>
        <title>VANGUARD TOTAL INTERNATIONAL BOND ETF ETF USD NPV</title>
        <cusip>92203J407</cusip>
        <identifiers>
          <ticker value="BNDX"/>
          <other otherDesc="Internal Identifier" value="590014"/>
        </identifiers>
        <balance>4790.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>277772.10000000</valUSD>
        <pctVal>7.022916873465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Liberty U.S. Core Bond ETF ETF USD NPV TIS A/C# 28565</name>
        <lei>N/A</lei>
        <title>Franklin Liberty U.S. Core Bond ETF ETF USD NPV TIS A/C# 28565</title>
        <cusip>35473P553</cusip>
        <identifiers>
          <ticker value="FLCB"/>
          <other otherDesc="Internal Identifier" value="1006612"/>
        </identifiers>
        <balance>19100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>493725.45000000</valUSD>
        <pctVal>12.48286920703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES CORE S&amp;P 500 ETF ETF USD NPV</name>
        <lei>5493007M4YMN8XL48C14</lei>
        <title>ISHARES CORE S&amp;P 500 ETF ETF USD NPV</title>
        <cusip>464287200</cusip>
        <identifiers>
          <ticker value="IVV"/>
          <other otherDesc="Internal Identifier" value="236391"/>
        </identifiers>
        <balance>925.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>273716.75000000</valUSD>
        <pctVal>6.920385388328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIONEER FUNDAMENTAL GROWTH FUND OEMF USD NPV CL K Income</name>
        <lei>549300YST2IRKGKOMC34</lei>
        <title>PIONEER FUNDAMENTAL GROWTH FUND OEMF USD NPV CL K Income</title>
        <cusip>723695706</cusip>
        <identifiers>
          <ticker value="PFGKX"/>
          <other otherDesc="Internal Identifier" value="635960"/>
        </identifiers>
        <balance>4969.31500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125823.06000000</valUSD>
        <pctVal>3.181186631577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Columbia Contrarian Europe Fund OEMF USD NPV CL Z Income</name>
        <lei>QGWF8QTSSKW70N7W4C31</lei>
        <title>Columbia Contrarian Europe Fund OEMF USD NPV CL Z Income</title>
        <cusip>19766F712</cusip>
        <identifiers>
          <ticker value="CEEZX"/>
          <other otherDesc="Internal Identifier" value="616893"/>
        </identifiers>
        <balance>8130.57300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53336.56000000</valUSD>
        <pctVal>1.348509181435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
