0001379491-18-002949.txt : 20180601 0001379491-18-002949.hdr.sgml : 20180601 20180601112334 ACCESSION NUMBER: 0001379491-18-002949 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 16 FILED AS OF DATE: 20180601 DATE AS OF CHANGE: 20180601 EFFECTIVENESS DATE: 20180601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN STRATEGIC SERIES CENTRAL INDEX KEY: 0000872625 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-39088 FILM NUMBER: 18873957 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-570-3000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CALIFORNIA 250 GROWTH FUND DATE OF NAME CHANGE: 19911216 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CALIFORNIA 250 GROWTH INDEX FUND DATE OF NAME CHANGE: 19910917 0000872625 S000019837 Franklin Focused Core Equity Fund C000055670 CLASS A FCEQX C000055671 CLASS C FCEDX C000055672 CLASS R FCERX C000055673 ADVISOR CLASS FEFCX C000128866 Class R6 FCEZX 497 1 filing1416.htm PRIMARY DOCUMENT  

FSS1 P4 06/18

SUPPLEMENT DATED JUNE 1, 2018

TO THE PROSPECTUS DATED SEPTEMBER 1, 2017

OF

FRANKLIN STRATEGIC SERIES

(Franklin Select U.S. Equity Fund formerly,

Franklin Focused Core Equity Fund)

 

The prospectus of the Fund is amended as follows:

I. The name of the Fund changed from Franklin Focused Core Equity Fund to Franklin Select U.S. Equity Fund. All references to Franklin Focused Core Equity Fund will now be Franklin Select U.S. Equity Fund.

 

II. The following replaces the “Fund Summary – Principal Investment Strategies” section on page 4 of the prospectus:

Under normal market conditions, the Fund invests at least 80% of its net assets in U.S. equity securities. The Fund invests primarily to predominantly in equity securities of large capitalization companies, which are companies similar in size to those in the S&P 500® Index. The equity securities in which the Fund invests are predominantly common stock.

 

The Fund generally seeks to maintain a portfolio consisting of securities of approximately 20-50 companies. Although the Fund seeks investments across a number of sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular sectors such as information technology, healthcare and industrials. The Fund also may invest a portion of its total assets in foreign securities.

The investment manager is a research-driven, “bottom-up” fundamental investor seeking companies that exhibit a combination of growth potential, quality, and reasonable valuation.  The investment manager assesses growth potential by considering companies that it believes are positioned for growth in revenue, earnings or assets.   In assessing valuation, the investment manager considers whether security prices fully reflect the balance of the long-term growth prospects relative to business and financial risks. The investment manager places a particular emphasis on quality and assessing downside risk, believing that important attributes of quality include experienced and talented management teams, favorable competitive positioning, and financial strength reflected in metrics including profitability, free cash generation, and returns on capital employed.

 

III. The paragraph under the heading “Fund Summary – Purchase and Sale of Fund Shares” section beginning on page 7 is replaced with the following:

 

 You may purchase or redeem shares of the Fund on any business day online through our website at franklintempleton.com, by mail (Franklin Templeton Investor Services, P.O. Box 997151, Sacramento, CA 95899-7151), or by telephone at (800) 632-2301. For Class A, C and R, the minimum initial purchase for most accounts is $1,000 (or $25 under an automatic investment plan). Class R6 and Advisor Class are only available to certain qualified investors and the minimum initial investment will vary depending on the type of qualified investor, as described under "Your Account — Choosing a Share Class — Qualified Investors — Class R6" and "— Advisor Class" in the Fund's prospectus. There is no minimum investment for subsequent purchases.

 

IV. The following replaces the “Franklin Select U.S. Equity Fund – Fund Details – Principal Investment Policies and Practices” section on page 30 of the prospectus:

 

Under normal market conditions, the Fund invests at least 80% of its net assets in U.S. equity securities. Shareholders will be given at least 60 days’ advance notice of any change to the 80% policy. The Fund invests primarily to predominantly in equity securities of large capitalization companies, which are companies similar in size to those in the S&P 500® Index. That index consists of 500 leading companies in leading industries of the U.S. economy, with a median market capitalization in excess of $20.741 billion as of March 29, 2018. The equity securities in which the Fund invests are predominantly common stock.

 

The Fund generally seeks to maintain a portfolio consisting of securities of approximately 20-50 companies. Although the Fund seeks investments across a number of sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular sectors such as information technology, healthcare and industrials. The Fund also may invest a portion of its total assets in foreign securities.

 

An equity security represents a proportionate share of the ownership of a company; its value is based on the success or failure of the company's business, any income paid to stockholders, the value of its assets and general market conditions. Common stocks and preferred stocks are examples of equity securities.

 


 
 

V. The following replaces the “Franklin Select U.S. Equity Fund – Fund Details – Principal Investment Policies and Practices – Portfolio Selection” section beginning on page 30 of the prospectus: 

 

Portfolio Selection

 

The investment manager is a research-driven, “bottom-up” fundamental investor seeking companies that exhibit a combination of growth potential, quality, and reasonable valuation.  The investment manager assesses growth potential by considering companies that it believes are positioned for growth in revenue, earnings or assets.  In assessing valuation, the investment manager considers whether security prices fully reflect the balance of the long-term growth prospects relative to business and financial risks. The investment manager places a particular emphasis on quality and assessing downside risk, believing that important attributes of quality include experienced and talented management teams, favorable competitive positioning, and financial strength reflected in metrics including profitability, free cash generation, and returns on capital employed.  This quality analysis generally includes an assessment by the investment manager of the potential impacts of any material environmental, social and governance (“ESG”) factors on the long-term risk and return profile of a company.

 

The investment manager generally uses a team of analysts to help provide in-depth industry expertise and uses both qualitative and quantitative analysis to evaluate companies. 

 

VI. The following replaces the “Franklin Select U.S. Equity Fund – Fund Details – Principal Risks – Focus Risk” section beginning on page 32 of the prospectus: 

 

Focus

 

The greater the Fund's exposure to any single type of investment – including investment in a given industry, sector, region, country, issuer, or type of security – the greater the losses the Fund may experience upon any single economic, business, political, regulatory, or other occurrence. As a result, there may be more fluctuation in the price of the Fund's shares.

 

Technology companies.   Technology company stocks have been subject to abrupt or erratic price movements, especially over the short term, due to the rapid pace of product change and development affecting such companies. Technology companies are subject to significant competitive pressures, such as new market entrants, aggressive pricing and tight profit margins. Prices of technology company stocks often change collectively without regard to the merits of individual companies.

 

Healthcare companies. The activities of healthcare companies may be funded or subsidized by federal and state governments. If government funding and subsidies are reduced or discontinued, the profitability of these companies could be adversely affected. Healthcare companies may also be affected by government policies on healthcare reimbursements, regulatory approval for new drugs and medical products, and similar matters. They are also subject to legislative risk, i.e., the risks associated with the reform of the healthcare system through legislation.

 

Industrials. The stock prices of companies in the industrials sector are affected by supply and demand both for their specific product or service and for industrials sector products in general. Companies in the industrials sector may be adversely affected by changes in government regulation, world events and economic conditions. In addition, these companies are at risk for environmental damage and product liability claims. Companies in this sector could be adversely affected by commodity price volatility, changes in exchange rates, imposition of export or import controls, increased competition, depletion of resources, technological developments and labor relations.

 

Please keep this supplement with your prospectus for future reference.

 

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You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under &#147;Your Account&#148; on page 80 in the Fund&#146;s Prospectus and under &#147;Buying and Selling Shares&#148; on page 55 of the Fund&#146;s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific intermediaries is set forth in Appendix A - Intermediary Sales Charge Discounts and Waivers to the Fund&#146;s prospectus.</p><p>Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares.</p></div>Shareholder Fees (fees paid directly from your investment)~ http://www.proofPlus.com/role/ShareholderFeesS000019837_FranklinStrategicSeriesFSS124 column period compact * ~0.05750.000.000.000.000.000.01000.000.000.00<div><p>Annual Fund Operating Expenses</p><p>(expenses that you pay each year as a percentage of the value of your investment)</p></div>~ http://www.proofPlus.com/role/OperatingExpensesS000019837_FranklinStrategicSeriesFSS124 column period compact * ~0.00950.00950.00950.00950.00950.00250.01000.00420.000.000.00270.00270.00270.00110.00270.01470.02220.01640.01060.0122-0.0022-0.0022-0.0022-0.0022-0.00220.01250.02000.01420.00840.0100ExampleThis Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:69599313122214~ http://www.proofPlus.com/role/ExpenseExampleS000019837_FranklinStrategicSeriesFSS124 column period compact * ~3036731170253714549687119258631556312741023656491458If you do not sell your shares:~ http://www.proofPlus.com/role/ExpenseExampleNoRedemptionS000019837_FranklinStrategicSeriesFSS124 column period compact * ~20367311702537Portfolio Turnover0.1745<div><p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 17.45% of the average value of its portfolio.</p></div>Principal Investment Strategies<div><p>Under normal market conditions, the Fund invests at least 80% of its net assets in U.S. equity securities. The Fund invests primarily to predominantly in equity securities of large capitalization companies, which are companies similar in size to those in the S&amp;P 500&#174; Index. The equity securities in which the Fund invests are predominantly common stock.</p><p>The Fund generally seeks to maintain a portfolio consisting of securities of approximately 20-50 companies. Although the Fund seeks investments across a number of sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular sectors such as information technology, healthcare and industrials. The Fund also may invest a portion of its total assets in foreign securities.</p><p>The investment manager is a research-driven, &#147;bottom-up&#148; fundamental investor seeking companies that exhibit a combination of growth potential, quality, and reasonable valuation. The investment manager assesses growth potential by considering companies that it believes are positioned for growth in revenue, earnings or assets. In assessing valuation, the investment manager considers whether security prices fully reflect the balance of the long-term growth prospects relative to business and financial risks. The investment manager places a particular emphasis on quality and assessing downside risk, believing that important attributes of quality include experienced and talented management teams, favorable competitive positioning, and financial strength reflected in metrics including profitability, free cash generation, and returns on capital employed.</p></div>Principal Risks<div><p>You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.</p><p>Market</p><p>The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.</p><p>Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.</p><p>Focus</p><p>To the extent that the Fund focuses on particular countries, regions, industries, sectors or types of investment from time to time, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of countries, regions, industries, sectors or investments.</p><p>Core Style Investing</p><p>The Fund may have investments in both growth and value stocks, or in stocks with characteristics of both. Growth stock prices reflect projections of future earnings or revenues, and can, therefore, fall dramatically if the company fails to meet those projections. A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur. In addition, since the Fund has a fairly concentrated portfolio and invests in a relatively smaller number of companies, the Fund is subject to additional risks such as the risk that poor performance by several companies could adversely affect Fund performance more than would be the case for a fund that holds a larger number of companies.</p><p>Management</p><p>The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.</p><p>Foreign Securities</p><p>Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.</p></div>Performancefranklintempleton.com(800) DIAL BEN/342-5236The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance.Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.<div><p>The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.</p><p>Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.</p></div>Class A Annual Total Returns-0.44630.53780.1422-0.02010.08310.36370.1662-0.02790.0580~ http://www.proofPlus.com/role/AnnualTotalReturnsBarChartS000019837_FranklinStrategicSeriesFSS124 column period compact * ~Best Quarter:2009-06-300.2089Worst Quarter:2008-12-31-0.2692As of June 30, 2017, the Fund's year-to-date return was 5.55%.<table style="font: 11px sans-serif; background-color:#DDDDDD" border="0" cellspacing="0" cellpadding="5" width="745"><tr><td style="border-bottom: 2px solid #ffffff;" valign="top">Best Quarter:</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">Q2'09</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">20.89%</td></tr><tr><td style="border-bottom: 2px solid #ffffff;" valign="top">Worst Quarter:</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">Q4'08</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">-26.92%</td></tr><tr><td style="border-bottom: 2px solid #ffffff;" valign="top" colspan="3">As of June 30, 2017, the Fund's year-to-date return was 5.55%.</td></tr></table><div><p>Average Annual Total Returns<br/>(figures reflect sales charges)</p><p>For the periods ended December 31, 2016</p></div>~ http://www.proofPlus.com/role/AverageAnnualTotalReturnsS000019837_FranklinStrategicSeriesFSS124 column period compact * ~Return Before TaxesFranklin Select U.S. Equity Fund-0.00280.10790.0539Return After Taxes on DistributionsFranklin Select U.S. Equity Fund-0.00280.10350.0500Return After Taxes on Distributions and Sale of Fund SharesFranklin Select U.S. Equity Fund-0.00160.08510.04230.04040.11340.05340.05630.11880.05850.06250.11640.06030.12430.06370.11960.14650.06922007-12-132007-12-132007-12-132007-12-132007-12-132007-12-132007-12-13<div><p>The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.</p></div>Since inception May 1, 2013.There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.The investment manager has contractually agreed to waive or assume certain expenses so that total annual Fund operating expenses (excluding Rule 12b-1 fees, acquired Fund fees and expenses and certain non-routine expenses) for each class of the Fund do not exceed 1.00% until August 31, 2018. The “Fee waiver and/or expense reimbursement” and “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” line items have been restated to reflect the current fee waivers and/or expense reimbursements for the Fund for the upcoming fiscal year. Consequently, the Fund’s “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” differ from the ratio of expenses to average net assets (net of waiver and payments by affiliates) shown in the Financial Highlights. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time periods set forth above. 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Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Caption Column Label Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield 1 year Expense Example, with Redemption, 1 Year 3 years 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Registrant Name dei_EntityRegistrantName FRANKLIN STRATEGIC SERIES
Central Index Key dei_EntityCentralIndexKey 0000872625
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Apr. 24, 2018
Document Effective Date dei_DocumentEffectiveDate Jun. 01, 2018
Prospectus Date rr_ProspectusDate Jun. 01, 2018
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Fund Summary
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund
Investment Goal
Capital appreciation.
Fees and Expenses of the Fund

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 80 in the Fund’s Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific intermediaries is set forth in Appendix A - Intermediary Sales Charge Discounts and Waivers to the Fund’s prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees {- Franklin Select U.S. Equity Fund} - Franklin Strategic Series FSS1-24 - Franklin Select U.S. Equity Fund
Class A
Class C
Class R
Class R6
Advisor Class
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) 5.75% none none none none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) none [1] 1.00% none none none
[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Annual Operating Expenses {- Franklin Select U.S. Equity Fund} - Franklin Strategic Series FSS1-24 - Franklin Select U.S. Equity Fund
Class A
Class C
Class R
Class R6
Advisor Class
Management fees 0.95% 0.95% 0.95% 0.95% 0.95%
Distribution and service (12b-1) fees 0.25% 1.00% 0.42% none none
Other expenses 0.27% 0.27% 0.27% 0.11% 0.27%
Total annual Fund operating expenses 1.47% 2.22% 1.64% 1.06% 1.22%
Fee waiver and/or expense reimbursement [1] (0.22%) (0.22%) (0.22%) (0.22%) (0.22%)
Total annual Fund operating expenses after fee waiver and/or expense reimbursement [1] 1.25% 2.00% 1.42% 0.84% 1.00%
[1] The investment manager has contractually agreed to waive or assume certain expenses so that total annual Fund operating expenses (excluding Rule 12b-1 fees, acquired Fund fees and expenses and certain non-routine expenses) for each class of the Fund do not exceed 1.00% until August 31, 2018. The “Fee waiver and/or expense reimbursement” and “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” line items have been restated to reflect the current fee waivers and/or expense reimbursements for the Fund for the upcoming fiscal year. Consequently, the Fund’s “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” differ from the ratio of expenses to average net assets (net of waiver and payments by affiliates) shown in the Financial Highlights. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time periods set forth above.
Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example {- Franklin Select U.S. Equity Fund} - Franklin Strategic Series FSS1-24 - Franklin Select U.S. Equity Fund - USD ($)
Class A
Class C
Class R
Class R6
Advisor Class
1 year $ 695 $ 303 $ 145 $ 86 $ 102
3 years 993 673 496 315 365
5 years 1,312 1,170 871 563 649
10 years $ 2,214 $ 2,537 $ 1,925 $ 1,274 $ 1,458
If you do not sell your shares:
Expense Example, No Redemption {- Franklin Select U.S. Equity Fund}
Franklin Strategic Series FSS1-24
Franklin Select U.S. Equity Fund
Class C
USD ($)
1 Year $ 203
3 Years 673
5 Years 1,170
10 Years $ 2,537
Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 17.45% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund invests at least 80% of its net assets in U.S. equity securities. The Fund invests primarily to predominantly in equity securities of large capitalization companies, which are companies similar in size to those in the S&P 500® Index. The equity securities in which the Fund invests are predominantly common stock.

The Fund generally seeks to maintain a portfolio consisting of securities of approximately 20-50 companies. Although the Fund seeks investments across a number of sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular sectors such as information technology, healthcare and industrials. The Fund also may invest a portion of its total assets in foreign securities.

The investment manager is a research-driven, “bottom-up” fundamental investor seeking companies that exhibit a combination of growth potential, quality, and reasonable valuation. The investment manager assesses growth potential by considering companies that it believes are positioned for growth in revenue, earnings or assets. In assessing valuation, the investment manager considers whether security prices fully reflect the balance of the long-term growth prospects relative to business and financial risks. The investment manager places a particular emphasis on quality and assessing downside risk, believing that important attributes of quality include experienced and talented management teams, favorable competitive positioning, and financial strength reflected in metrics including profitability, free cash generation, and returns on capital employed.

Principal Risks

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Focus

To the extent that the Fund focuses on particular countries, regions, industries, sectors or types of investment from time to time, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of countries, regions, industries, sectors or investments.

Core Style Investing

The Fund may have investments in both growth and value stocks, or in stocks with characteristics of both. Growth stock prices reflect projections of future earnings or revenues, and can, therefore, fall dramatically if the company fails to meet those projections. A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur. In addition, since the Fund has a fairly concentrated portfolio and invests in a relatively smaller number of companies, the Fund is subject to additional risks such as the risk that poor performance by several companies could adversely affect Fund performance more than would be the case for a fund that holds a larger number of companies.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Foreign Securities

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Performance

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Class A Annual Total Returns
Bar Chart
Best Quarter:Q2'0920.89%
Worst Quarter:Q4'08-26.92%
As of June 30, 2017, the Fund's year-to-date return was 5.55%.

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2016

Average Annual Total Returns{- Franklin Select U.S. Equity Fund} - Franklin Strategic Series FSS1-24 - Franklin Select U.S. Equity Fund
Past 1 year
Past 5 years
Since Inception
Inception Date
Class A       Dec. 13, 2007
Class A | Return Before Taxes (0.28%) 10.79% 5.39%  
Class A | After Taxes on Distributions (0.28%) 10.35% 5.00% Dec. 13, 2007
Class A | After Taxes on Distributions and Sales (0.16%) 8.51% 4.23% Dec. 13, 2007
Class C       Dec. 13, 2007
Class C | Return Before Taxes 4.04% 11.34% 5.34%  
Class R       Dec. 13, 2007
Class R | Return Before Taxes 5.63% 11.88% 5.85%  
Class R6       Dec. 13, 2007
Class R6 | Return Before Taxes 6.25% 11.64% [1]  
Advisor Class       Dec. 13, 2007
Advisor Class | Return Before Taxes 6.03% 12.43% 6.37%  
S&P 500® Index (index reflects no deduction for fees, expenses or taxes) 11.96% 14.65% 6.92%  
[1] Since inception May 1, 2013.

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

XML 12 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FRANKLIN STRATEGIC SERIES
Prospectus Date rr_ProspectusDate Jun. 01, 2018
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Objective [Heading] rr_ObjectiveHeading Investment Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 80 in the Fund’s Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific intermediaries is set forth in Appendix A - Intermediary Sales Charge Discounts and Waivers to the Fund’s prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 17.45% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 17.45%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption If you do not sell your shares:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal market conditions, the Fund invests at least 80% of its net assets in U.S. equity securities. The Fund invests primarily to predominantly in equity securities of large capitalization companies, which are companies similar in size to those in the S&P 500® Index. The equity securities in which the Fund invests are predominantly common stock.

The Fund generally seeks to maintain a portfolio consisting of securities of approximately 20-50 companies. Although the Fund seeks investments across a number of sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular sectors such as information technology, healthcare and industrials. The Fund also may invest a portion of its total assets in foreign securities.

The investment manager is a research-driven, “bottom-up” fundamental investor seeking companies that exhibit a combination of growth potential, quality, and reasonable valuation. The investment manager assesses growth potential by considering companies that it believes are positioned for growth in revenue, earnings or assets. In assessing valuation, the investment manager considers whether security prices fully reflect the balance of the long-term growth prospects relative to business and financial risks. The investment manager places a particular emphasis on quality and assessing downside risk, believing that important attributes of quality include experienced and talented management teams, favorable competitive positioning, and financial strength reflected in metrics including profitability, free cash generation, and returns on capital employed.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Focus

To the extent that the Fund focuses on particular countries, regions, industries, sectors or types of investment from time to time, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of countries, regions, industries, sectors or investments.

Core Style Investing

The Fund may have investments in both growth and value stocks, or in stocks with characteristics of both. Growth stock prices reflect projections of future earnings or revenues, and can, therefore, fall dramatically if the company fails to meet those projections. A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur. In addition, since the Fund has a fairly concentrated portfolio and invests in a relatively smaller number of companies, the Fund is subject to additional risks such as the risk that poor performance by several companies could adversely affect Fund performance more than would be the case for a fund that holds a larger number of companies.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Foreign Securities

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone (800) DIAL BEN/342-5236
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress franklintempleton.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Class A Annual Total Returns
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:Q2'0920.89%
Worst Quarter:Q4'08-26.92%
As of June 30, 2017, the Fund's year-to-date return was 5.55%.
Performance Table Heading rr_PerformanceTableHeading

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2016

Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumCumulativeSalesChargeOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management fees rr_ManagementFeesOverAssets 0.95%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.27%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.47%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.22%) [2]
Total annual Fund operating expenses after fee waiver and/or expense reimbursement rr_NetExpensesOverAssets 1.25% [2]
1 year rr_ExpenseExampleYear01 $ 695
3 years rr_ExpenseExampleYear03 993
5 years rr_ExpenseExampleYear05 1,312
10 years rr_ExpenseExampleYear10 $ 2,214
2008 rr_AnnualReturn2008 (44.63%)
2009 rr_AnnualReturn2009 53.78%
2010 rr_AnnualReturn2010 14.22%
2011 rr_AnnualReturn2011 (2.01%)
2012 rr_AnnualReturn2012 8.31%
2013 rr_AnnualReturn2013 36.37%
2014 rr_AnnualReturn2014 16.62%
2015 rr_AnnualReturn2015 (2.79%)
2016 rr_AnnualReturn2016 5.80%
Year to Date Return, Label rr_YearToDateReturnLabel As of June 30, 2017, the Fund's year-to-date return was 5.55%.
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.89%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (26.92%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 13, 2007
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumCumulativeSalesChargeOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00%
Management fees rr_ManagementFeesOverAssets 0.95%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.27%
Total annual Fund operating expenses rr_ExpensesOverAssets 2.22%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.22%) [2]
Total annual Fund operating expenses after fee waiver and/or expense reimbursement rr_NetExpensesOverAssets 2.00% [2]
1 year rr_ExpenseExampleYear01 $ 303
3 years rr_ExpenseExampleYear03 673
5 years rr_ExpenseExampleYear05 1,170
10 years rr_ExpenseExampleYear10 2,537
1 Year rr_ExpenseExampleNoRedemptionYear01 203
3 Years rr_ExpenseExampleNoRedemptionYear03 673
5 Years rr_ExpenseExampleNoRedemptionYear05 1,170
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,537
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 13, 2007
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumCumulativeSalesChargeOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management fees rr_ManagementFeesOverAssets 0.95%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.42%
Other expenses rr_OtherExpensesOverAssets 0.27%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.64%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.22%) [2]
Total annual Fund operating expenses after fee waiver and/or expense reimbursement rr_NetExpensesOverAssets 1.42% [2]
1 year rr_ExpenseExampleYear01 $ 145
3 years rr_ExpenseExampleYear03 496
5 years rr_ExpenseExampleYear05 871
10 years rr_ExpenseExampleYear10 $ 1,925
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 13, 2007
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumCumulativeSalesChargeOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management fees rr_ManagementFeesOverAssets 0.95%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.11%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.06%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.22%) [2]
Total annual Fund operating expenses after fee waiver and/or expense reimbursement rr_NetExpensesOverAssets 0.84% [2]
1 year rr_ExpenseExampleYear01 $ 86
3 years rr_ExpenseExampleYear03 315
5 years rr_ExpenseExampleYear05 563
10 years rr_ExpenseExampleYear10 $ 1,274
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 13, 2007
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Advisor Class  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumCumulativeSalesChargeOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management fees rr_ManagementFeesOverAssets 0.95%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.27%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.22%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.22%) [2]
Total annual Fund operating expenses after fee waiver and/or expense reimbursement rr_NetExpensesOverAssets 1.00% [2]
1 year rr_ExpenseExampleYear01 $ 102
3 years rr_ExpenseExampleYear03 365
5 years rr_ExpenseExampleYear05 649
10 years rr_ExpenseExampleYear10 $ 1,458
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 13, 2007
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Return Before Taxes | Class A  
Risk/Return: rr_RiskReturnAbstract  
Column rr_AverageAnnualReturnColumnName Franklin Select U.S. Equity Fund
Label rr_AverageAnnualReturnLabel Return Before Taxes
Past 1 year rr_AverageAnnualReturnYear01 (0.28%)
Past 5 years rr_AverageAnnualReturnYear05 10.79%
Since Inception rr_AverageAnnualReturnSinceInception 5.39%
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Return Before Taxes | Class C  
Risk/Return: rr_RiskReturnAbstract  
Past 1 year rr_AverageAnnualReturnYear01 4.04%
Past 5 years rr_AverageAnnualReturnYear05 11.34%
Since Inception rr_AverageAnnualReturnSinceInception 5.34%
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Return Before Taxes | Class R  
Risk/Return: rr_RiskReturnAbstract  
Past 1 year rr_AverageAnnualReturnYear01 5.63%
Past 5 years rr_AverageAnnualReturnYear05 11.88%
Since Inception rr_AverageAnnualReturnSinceInception 5.85%
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Return Before Taxes | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Past 1 year rr_AverageAnnualReturnYear01 6.25%
Past 5 years rr_AverageAnnualReturnYear05
Since Inception rr_AverageAnnualReturnSinceInception 11.64% [3]
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | Return Before Taxes | Advisor Class  
Risk/Return: rr_RiskReturnAbstract  
Past 1 year rr_AverageAnnualReturnYear01 6.03%
Past 5 years rr_AverageAnnualReturnYear05 12.43%
Since Inception rr_AverageAnnualReturnSinceInception 6.37%
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Column rr_AverageAnnualReturnColumnName Franklin Select U.S. Equity Fund
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
Past 1 year rr_AverageAnnualReturnYear01 (0.28%)
Past 5 years rr_AverageAnnualReturnYear05 10.35%
Since Inception rr_AverageAnnualReturnSinceInception 5.00%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 13, 2007
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | After Taxes on Distributions and Sales | Class A  
Risk/Return: rr_RiskReturnAbstract  
Column rr_AverageAnnualReturnColumnName Franklin Select U.S. Equity Fund
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions and Sale of Fund Shares
Past 1 year rr_AverageAnnualReturnYear01 (0.16%)
Past 5 years rr_AverageAnnualReturnYear05 8.51%
Since Inception rr_AverageAnnualReturnSinceInception 4.23%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 13, 2007
Franklin Strategic Series FSS1-24 | Franklin Select U.S. Equity Fund | S&P 500® Index (index reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 year rr_AverageAnnualReturnYear01 11.96%
Past 5 years rr_AverageAnnualReturnYear05 14.65%
Since Inception rr_AverageAnnualReturnSinceInception 6.92%
[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.
[2] The investment manager has contractually agreed to waive or assume certain expenses so that total annual Fund operating expenses (excluding Rule 12b-1 fees, acquired Fund fees and expenses and certain non-routine expenses) for each class of the Fund do not exceed 1.00% until August 31, 2018. The “Fee waiver and/or expense reimbursement” and “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” line items have been restated to reflect the current fee waivers and/or expense reimbursements for the Fund for the upcoming fiscal year. Consequently, the Fund’s “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” differ from the ratio of expenses to average net assets (net of waiver and payments by affiliates) shown in the Financial Highlights. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time periods set forth above.
[3] Since inception May 1, 2013.
XML 13 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FRANKLIN STRATEGIC SERIES
Prospectus Date rr_ProspectusDate Jun. 01, 2018
Document Creation Date dei_DocumentCreationDate Apr. 24, 2018
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