SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

(Amendment No. __)

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[  ] Preliminary Proxy Statement

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[  ] Definitive Proxy Statement

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[  ] Soliciting Material Pursuant to Sec. 240.14a-12

FRANKLIN CALIFORNIA TAX-FREE INCOME FUND

FRANKLIN CALIFORNIA TAX-FREE TRUST

FRANKLIN CUSTODIAN FUNDS

FRANKLIN FEDERAL TAX-FREE INCOME FUND

FRANKLIN FUND ALLOCATOR SERIES

FRANKLIN GLOBAL TRUST

FRANKLIN GOLD AND PRECIOUS METALS FUND

FRANKLIN HIGH INCOME TRUST

FRANKLIN INVESTORS SECURITIES TRUST

FRANKLIN MUNICIPAL SECURITIES TRUST

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 GLOBAL TRUST

FRANKLIN TEMPLETON INTERNATIONAL TRUST

FRANKLIN TEMPLETON MONEY FUND TRUST

FRANKLIN U.S. GOVERNMENT MONEY FUND

INSTITUTIONAL FIDUCIARY TRUST

THE MONEY MARKET PORTFOLIOS

TEMPLETON CHINA WORLD FUND

TEMPLETON FUNDS

TEMPLETON GLOBAL INVESTMENT TRUST

TEMPLETON GLOBAL OPPORTUNITIES TRUST

TEMPLETON GLOBAL SMALLER COMPANIES FUND

TEMPLETON INCOME TRUST

TEMPLETON INSTITUTIONAL FUNDS

(Name of Registrant as Specified In Its Charter)

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Franklin Templeton Funds Countdown Script

Good (morning, afternoon, evening), my name is (AGENT’S FULL NAME).

May I please speak with (SHAREHOLDER’S FULL NAME)?

(Re-Greet If Necessary)

I am calling on a recorded line regarding your funds with Franklin Templeton Investments.

As you know, the Special Meeting of Shareholders is scheduled to take place in (X) days on December 15, 2017 and currently our records indicate your vote has not been recorded.

Your vote is very important. Adjournments of the Special Meeting may create additional solicitation costs.

At this time, would you like to vote along with the Board’s recommendation?

(Pause For Response)

(Review Voting Options with Shareholder If Necessary)

If we identify any additional accounts you own with the Franklin Templeton Investments before the meeting takes place, would you like to vote those accounts in the same manner as well?

(Pause For Response)

*Confirmation – I am recording your (Recap Voting Instructions).

For confirmation purposes:

· Please state your full name. (Pause)

· According to our records, you reside in (city, state, zip code). (Pause)

· To ensure that we have the correct address for the written confirmation, please state your street address. (Pause)

Thank you. You will receive written confirmation of your vote within 3 to 5 business days. Upon receipt, please review and retain for your records. If you should have any questions please call the toll free number listed on the confirmation. Mr. /Ms. ___________, your vote is important and your time is greatly appreciated. Thank you and have a good (morning, afternoon, evening.)

FOR INTERNAL DISTRIBUTION ONLY Updated 10-26-2017