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    <submissionType>N-MFP2</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000765485</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <notifications/>
      <notifications/>
    </filerInfo>
  </headerData>
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    <generalInfo>
      <reportDate>2018-01-31</reportDate>
      <cik>0000765485</cik>
      <seriesId>S000007358</seriesId>
      <totalShareClassesInSeries>1</totalShareClassesInSeries>
      <finalFilingFlag>N</finalFilingFlag>
      <fundAcqrdOrMrgdWthAnthrFlag>N</fundAcqrdOrMrgdWthAnthrFlag>
    </generalInfo>
    <seriesLevelInfo>
      <securitiesActFileNumber>002-96634</securitiesActFileNumber>
      <adviser>
        <adviserName>Franklin Advisers, Inc.</adviserName>
        <adviserFileNumber>801-26292</adviserFileNumber>
      </adviser>
      <indpPubAccountant>
        <name>PricewaterhouseCoopers LLP</name>
        <city>San Francisco</city>
        <stateCountry>CA</stateCountry>
      </indpPubAccountant>
      <administrator>
        <administratorName>Franklin Templeton Services, LLC</administratorName>
      </administrator>
      <transferAgent>
        <name>Franklin Templeton Investor Services, LLC</name>
        <cik>0000353291</cik>
        <fileNumber>084-01036</fileNumber>
      </transferAgent>
      <feederFundFlag>Y</feederFundFlag>
      <masterFeederFund>
        <cik>0000890089</cik>
        <name>The U.S. Government Money Market Portfolio</name>
        <seriesId>S000007450</seriesId>
      </masterFeederFund>
      <masterFundFlag>N</masterFundFlag>
      <seriesFundInsuCmpnySepAccntFlag>N</seriesFundInsuCmpnySepAccntFlag>
      <moneyMarketFundCategory>Exempt Government</moneyMarketFundCategory>
      <fundExemptRetailFlag>N</fundExemptRetailFlag>
      <averagePortfolioMaturity>6</averagePortfolioMaturity>
      <averageLifeMaturity>6</averageLifeMaturity>
      <totalValueDailyLiquidAssets>
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      <cash>0.00</cash>
      <totalValuePortfolioSecurities>17871960121.19</totalValuePortfolioSecurities>
      <amortizedCostPortfolioSecurities>17871960121.19</amortizedCostPortfolioSecurities>
      <totalValueOtherAssets>17316632.50</totalValueOtherAssets>
      <totalValueLiabilities>17392949.44</totalValueLiabilities>
      <netAssetOfSeries>17871883804.25</netAssetOfSeries>
      <numberOfSharesOutstanding>17871885935.3620</numberOfSharesOutstanding>
      <stablePricePerShare>1.0000</stablePricePerShare>
      <sevenDayGrossYield>0.0132</sevenDayGrossYield>
      <netAssetValue>
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        <ns3:fridayWeek2>1.0000</ns3:fridayWeek2>
        <ns3:fridayWeek3>1.0000</ns3:fridayWeek3>
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    </seriesLevelInfo>
    <classLevelInfo>
      <classesId>C000020209</classesId>
      <minInitialInvestment>1000.00</minInitialInvestment>
      <netAssetsOfClass>17871883804.25</netAssetsOfClass>
      <numberOfSharesOutstanding>17871885935.3620</numberOfSharesOutstanding>
      <netAssetPerShare>
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        <ns3:fridayWeek2>1.0000</ns3:fridayWeek2>
        <ns3:fridayWeek3>1.0000</ns3:fridayWeek3>
        <ns3:fridayWeek4>1.0000</ns3:fridayWeek4>
        <ns3:fridayWeek5>0.0000</ns3:fridayWeek5>
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      <fridayWeek1>
        <weeklyGrossSubscriptions>1386137629.57</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>601597052.24</weeklyGrossRedemptions>
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      <fridayWeek2>
        <weeklyGrossSubscriptions>1843269812.89</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>1462473761.77</weeklyGrossRedemptions>
      </fridayWeek2>
      <fridayWeek3>
        <weeklyGrossSubscriptions>3117779472.46</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>2735556632.29</weeklyGrossRedemptions>
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      <fridayWeek4>
        <weeklyGrossSubscriptions>2222538445.28</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>1931483120.09</weeklyGrossRedemptions>
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      <fridayWeek5>
        <weeklyGrossSubscriptions>0.00</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>0.00</weeklyGrossRedemptions>
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      <totalForTheMonthReported>
        <weeklyGrossSubscriptions>9012815793.68</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>7821581636.12</weeklyGrossRedemptions>
      </totalForTheMonthReported>
      <sevenDayNetYield>0.0095</sevenDayNetYield>
      <personPayForFundFlag>N</personPayForFundFlag>
    </classLevelInfo>
    <scheduleOfPortfolioSecuritiesInfo>
      <nameOfIssuer>TMMP-THE U.S. GOVERNMENT MONEY MARKET PORTFOLIO</nameOfIssuer>
      <titleOfIssuer>TMMP-THE U.S. GOVERNMENT MONEY MARKET PORTFOLIO</titleOfIssuer>
      <CUSIPMember>609920103</CUSIPMember>
      <investmentCategory>Investment Company</investmentCategory>
      <securityEligibilityFlag>Y</securityEligibilityFlag>
      <investmentMaturityDateWAM>2018-02-07</investmentMaturityDateWAM>
      <investmentMaturityDateWAL>2018-02-07</investmentMaturityDateWAL>
      <finalLegalInvestmentMaturityDate>2018-02-07</finalLegalInvestmentMaturityDate>
      <securityDemandFeatureFlag>N</securityDemandFeatureFlag>
      <securityGuaranteeFlag>N</securityGuaranteeFlag>
      <securityEnhancementsFlag>N</securityEnhancementsFlag>
      <yieldOfTheSecurityAsOfReportingDate>0.0116</yieldOfTheSecurityAsOfReportingDate>
      <includingValueOfAnySponsorSupport>17871960121.19</includingValueOfAnySponsorSupport>
      <excludingValueOfAnySponsorSupport>17871960121.19</excludingValueOfAnySponsorSupport>
      <percentageOfMoneyMarketFundNetAssets>1.0000</percentageOfMoneyMarketFundNetAssets>
      <securityCategorizedAtLevel3Flag>N</securityCategorizedAtLevel3Flag>
      <dailyLiquidAssetSecurityFlag>Y</dailyLiquidAssetSecurityFlag>
      <weeklyLiquidAssetSecurityFlag>Y</weeklyLiquidAssetSecurityFlag>
      <illiquidSecurityFlag>N</illiquidSecurityFlag>
      <explanatoryNotes>Item C.21 has been answered "Yes" for only 15% of holding. Issuer of shares for which response is provided has undertaken to provide redemption proceeds within one business day of up to 15% of each shareholder's total investment in the issuer.</explanatoryNotes>
    </scheduleOfPortfolioSecuritiesInfo>
    <signature>
      <registrant>Institutional Fiduciary Trust</registrant>
      <signatureDate>2018-02-07</signatureDate>
      <signature>Gaston Gardey</signature>
      <nameOfSigningOfficer>Gaston Gardey</nameOfSigningOfficer>
      <titleOfSigningOfficer>Vice President</titleOfSigningOfficer>
    </signature>
  </formData>
</edgarSubmission>
