497

099 P-1 04/14

SUPPLEMENT DATED APRIL 1, 2014

TO THE PROSPECTUS DATED OCTOBER 1, 2013

OF

FRANKLIN TEMPLETON GLOBAL ALLOCATION FUND

(Franklin Templeton International Trust)

The Prospectus is amended as follows:

I.  The third paragraph in the “Fund Summary – Principal Investment Strategies” section beginning on page 4 is replaced with the following:

The Fund is structured as a multi-manager fund, with the investment manager responsible for monitoring the Fund’s overall investment performance, managing the Fund’s allocation to commodities, managing the Fund’s tactical asset allocation, and re-balancing the Fund’s portfolio to maintain the baseline allocation to various asset classes and investment strategies. The baseline allocation also may change from time to time, at the discretion of the investment manager.

II.  The “Fund Summary – Investment Manager,” “Fund Summary – Sub-Advisors,” and “Fund Summary – Portfolio Managers,” sections beginning on page 12 are replaced with the following:

Investment Manager

Franklin Alternative Strategies Advisers, LLC (FASA)

Sub-Advisors

Franklin Advisers, Inc. (Advisers), Franklin Mutual Advisers, LLC (Franklin Mutual), Franklin Templeton Institutional, LLC (FT Institutional), Franklin Templeton Investment Management Limited (FTIML), Templeton Asset Management Ltd. (Asset Management), and Templeton Global Advisors Limited (Global Advisors). For purposes of the Fund’s investment strategies, techniques and risks, the term “investment manager” includes any Sub-Advisor.

Portfolio Managers

SAMER HABL

Portfolio Manager of FASA and lead portfolio manager of the Fund since inception (2011).

TODD SAUNDERS

Portfolio Manager of FASA and a portfolio manager of the Fund since October 2013.

MICHAEL HASENSTAB, PH.D.

Executive Vice President of Advisers and portfolio manager of the Templeton Global Bond portion of the Fund since inception (2011).

PETER A. LANGERMAN

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Chairman, President and Chief Executive Officer of Franklin Mutual and portfolio manager of the Mutual Series Equity portion of the Fund since inception (2011).

WARREN KEYSER

Portfolio Manager of FT Institutional and portfolio manager of the Franklin Templeton Global Low Duration Bond portion of the Fund since inception (2011).

MARK MOBIUS, PH.D.

Executive Chairman of Templeton Emerging Markets Group, Portfolio Manager of Asset Management and portfolio manager of the Templeton Emerging Markets Equity portion of the Fund since inception (2011).

TUCKER SCOTT, CFA

Executive Vice President of Global Advisors and portfolio manager of the Templeton Equity portion of the Fund since inception (2011).

CONRAD B. HERRMANN, CFA

Senior Vice President of Advisers and portfolio manager of the Franklin U.S. Growth Equity portion of the Fund since inception (2011).

COLEEN F. BARBEAU

Executive Vice President of FT Institutional and portfolio manager of the Franklin Non-U.S. Growth Equity portion of the Fund since inception (2011).

KENT BURNS, CFA

Portfolio Manager of Advisers and portfolio manager of the Franklin Templeton Global Low Duration Bond portion of the Fund since inception (2011).

DAVID ZAHN, CFA

Portfolio Manager of FTIML and portfolio manager of the Franklin Templeton Global Low Duration Bond portion of the Fund since inception (2011).

III.  The third paragraph in the “Fund Details – Principal Investment Policies and Practices” section on page 15 is replaced with the following:

The Fund is structured as a multi-manager fund, with the investment manager responsible for monitoring the Fund’s overall investment performance, managing the Fund’s allocation to commodities, managing the Fund’s tactical asset allocation, and re-balancing the Fund’s portfolio to maintain the baseline allocation to various asset classes and investment strategies. The baseline allocation also may change from time to time, at the discretion of the investment manager.

IV.  The twelfth paragraph in the “Fund Details – Principal Investment Policies and Practices” section beginning on page 15 is replaced with the following:

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Currently, the Fund’s investment manager utilizes ETNs to obtain exposure to commodities. The ETNs used by the investment manager are senior, unsecured unsubordinated debt securities that trade on U.S. and foreign stock exchanges at market price. In addition, investors can receive a cash payment at the ETNs’ scheduled maturity or through early redemption. The ETNs are backed by the credit of the issuer and their return is linked to the performance of an index intended to reflect the returns that are potentially available through an investment in futures contracts on the physical commodities comprising the index, plus a specified rate of interest. No periodic interest payments are made on the ETNs and there is no principal protection. The ETNs are designed to provide investors, such as the Fund, with a cost-effective investment in broad-based commodities, as measured by the index. The Fund may from time to time hold the ETNs and other commodity-linked instruments, such as commodity-linked exchange-traded funds (ETFs), in a Cayman Islands-based company that is wholly owned by the Fund (the “Subsidiary”). Investing through the Subsidiary is principally intended to allow the Fund to gain exposure to such commodity-linked instruments within the federal income tax requirements that apply to the Fund.

V.  The first paragraph under “Fund Details – Principal Risks – Regulation under the Commodity Exchange Act” section on page 31 is replaced with the following:

Regulation under the Commodity Exchange Act

The investment manager is registered as a “commodity pool operator” (CPO) under the Commodity Exchange Act (CEA) and the rules of the CFTC and is subject to CFTC regulation with respect to the Fund. The CFTC has adopted rules regarding the disclosure, reporting and recordkeeping requirements that will apply with respect to the Fund as a result of the investment manager’s registration as a CPO. Generally, these rules allow for substituted compliance with CFTC disclosure and shareholder reporting requirements, based on the investment manager’s compliance with comparable SEC requirements. This means that for most of the CFTC’s disclosure and shareholder reporting applicable to the investment manager as the Fund’s CPO, the investment manager’s compliance with SEC disclosure and shareholder reporting will be deemed to fulfill the investment manager’s CFTC compliance obligations. However, as a result of CFTC regulation with respect to the Fund, the Fund may incur additional compliance and other expenses. The investment manager is also registered as a “commodity trading adviser” (CTA), but relies on an exemption with respect to the Fund from CTA regulations available for a CTA that also serves as the Fund’s CPO. The CFTC has neither reviewed nor approved the Fund, its investment strategies or this prospectus.

VI.  The “Fund  Details – Management” section beginning on page 31 is replaced with the following:

Effective April 1, 2014, Franklin Alternative Strategies Advisers, LLC (FASA), One International Place, Boston, MA 02110, is the Fund’s investment manager. Prior to April 1, 2014, Franklin Advisers, Inc. (Advisers), One Franklin Parkway, San Mateo, CA 94403-1906, was the Fund’s investment manager. Together, FASA and its affiliates manage, as of February, 28, 2014, over $882 billion in assets, and have been in the investment management business since 1947. References throughout the remainder of this prospectus relating to information regarding the “investment manager” for periods prior to April 1, 2014 refer to Advisers.

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Under separate agreements with FASA, Advisers, Franklin Mutual Advisers, LLC (Franklin Mutual), 101 John F. Kennedy Parkway, Short Hills, NJ 07078; Franklin Templeton Institutional, LLC (FT Institutional), 600 Fifth Avenue, NY 10020; Franklin Templeton Investment Management Limited (FTIML), The Adelphi, 1-11 John Adam Street, London WC2N 6HT; Templeton Asset Management Ltd. (Asset Management), 7 Temasek Boulevard #38-03, Suntec Tower One, Singapore, 038987; and Templeton Global Advisors Limited (Global Advisors), Lyford Cay, Nassau, Bahamas, are the Fund’s Sub-Advisors and provide FASA with investment management advice and assistance. FASA, Franklin Mutual, FT Institutional, FTIML, Asset Management and Global Advisors are indirect subsidiaries of Franklin Resources, Inc. (Resources) and Advisers is a direct subsidiary of Resources. For purposes of the Fund’s investment strategies, techniques and risks, the term “investment manager” includes any Sub-Advisor.

The Fund is managed by a team of dedicated professionals. The portfolio managers of the team, including those of the Sub-Advisors, are as follows:

SAMER HABLPortfolio Manager of FASA

Mr. Habl has been lead portfolio manager of the Fund since inception (2011). He has primary responsibility for the investments of the Fund. He has final authority and responsibility over all aspects of the Fund’s investment portfolio, including but not limited to the Fund’s tactical allocation investment decisions, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which he may perform these functions, and the nature of these functions, may change from time to time. He joined Franklin Templeton Investments in 2010. Prior to joining Franklin Templeton Investments, he worked at Mellon Capital Management as managing director of Global Tactical Asset Allocation Research.

TODD SAUNDERSPortfolio Manager of FASA

Mr. Saunders has been a portfolio manager of the Fund since October 2013, providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 2011. Prior to joining Franklin Templeton Investments, he worked at Bayswater Asset Management LLC since 2007, most recently as chief financial officer and chief operating officer.

MICHAEL HASENSTAB, PH.D.Executive Vice President of Advisers

Dr. Hasenstab has been a portfolio manager of the Templeton Global Bond portion of the Fund since inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He first joined Franklin Templeton Investments in 1995, rejoining again in 2001 after a three-year leave to obtain his Ph.D.

PETER A. LANGERMANChairman, President and Chief Executive Officer of Franklin Mutual

Mr. Langerman has been a portfolio manager of the Mutual Series Equity portion of the Fund since inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 1996. Between 1986 and 1996, he was employed at Heine Securities Corporation, the predecessor of Franklin Mutual.

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WARREN KEYSERPortfolio Manager and Research Analyst of FT Institutional

Mr. Keyser has been a portfolio manager of the Franklin Templeton Global Low Duration Bond portion of the Fund since inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 1986.

MARK MOBIUS, PH.D.Executive Chairman of Templeton Emerging Markets Group and Portfolio Manager of Asset Management

Dr. Mobius has been a portfolio manager of the Templeton Emerging Markets Equity portion of the Fund since inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 1987.

TUCKER SCOTT, CFAExecutive Vice President of Global Advisors

Mr. Scott has been a portfolio manager of the Templeton Equity portion of the Fund since inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 1996.

CONRAD B. HERRMANN, CFASenior Vice President of Advisers

Mr. Herrmann has been a portfolio manager of the Franklin U.S. Growth Equity portion of the Fund since its inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 1989.

COLEEN F. BARBEAUExecutive Vice President of FT Institutional

Ms. Barbeau has been a portfolio manager of the Franklin Non-U.S. Growth Equity portion of the Fund since inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. She joined Franklin Templeton Investments in 1983.

KENT BURNS, CFAPortfolio Manager of Advisers

Mr. Burns has been a portfolio manager of the Franklin Templeton Global Low Duration Bond portion of the Fund since its inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 1994.

DAVID ZAHN, CFAPortfolio Manager of FTIML

Mr. Zahn has been a portfolio manager of the Franklin Templeton Global Low Duration Bond portion of the Fund since its inception (2011), providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 2006.

CFA^® and Chartered Financial Analyst^® are trademarks owned by CFA Institute.

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The Fund’s SAI provides additional information about portfolio manager compensation, other accounts that they manage and their ownership of Fund shares.

Effective May 1, 2013, the Fund’s investment management agreement was bundled with its fund administration agreement, including the fees of 0.20% payable thereunder, as approved by the board of trustees. As of such date, the Fund’s investment management fee became:

• 0.95% of the value of its net assets up to and including $1 billion;
• 0.93% of the value of its net assets over $1 billion up to and including $5 billion;
• 0.91% of the value of its net assets over $5 billion up to and including $10 billion;
• 0.89% of the value of its net assets over $10 billion up to and including $15 billion;
• 0.87% of the value of its net assets over $15 billion up to and including $20 billion; and
• 0.85% of the value of its net assets over $20 billion.

As of April 1, 2014, the Fund pays FASA a fee for managing the Fund’s assets. The fee is the same as the fee paid to Advisers prior to April 1, 2014.

FASA has, and prior to April 1, 2014, Advisers had, contractually agreed to waive the management fee it receives from the Fund in an amount equal to the management fee paid by the Subsidiary. This waiver may not be terminated and will remain in effect for as long as the investment manager’s contract with the Subsidiary is in place.

For the fiscal year ended May 31, 2013, Advisers agreed to reduce its fees to reflect reduced services resulting from the Fund’s investment in a Franklin Templeton money fund. FASA has agreed to continue this waiver. In addition, FASA has, and prior to April 1, 2014, Advisers had, agreed to waive or limit its fees and to assume as its own expenses otherwise payable by the Fund so that common expenses (i.e., a combination of investment management fees, administration fees, and other expenses, but excluding the Rule 12b-1 fees; acquired fund fees and expenses; and certain non-routine expenses or costs (including those relating to litigation, indemnification, reorganizations and liquidations)) for each class of the Fund do not exceed 1.00% until September 30, 2014.

The investment manager compensates each Sub-Advisor for providing investment advice and analysis and for managing that portion of the Fund’s assets allocated to it from time to time by the investment manager. The separate portions of the Fund’s assets managed by the investment manager are allocated fees that are retained from, and not in addition to, the overall investment management fee paid to the investment manager by the Fund.

A discussion regarding the basis for the board of trustees’ approving the investment management contract of the Fund is available in the Fund’s annual report to shareholders for the period ended May 31.

Manager of Managers Structure

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FASA and the Trust have received an exemptive order from the SEC that allows the Fund to operate in a “manager of managers” structure whereby FASA, as the Fund’s investment manager, can appoint and replace sub-advisors from within Franklin Templeton Investments (“affiliated sub-advisors”), and enter into, amend and terminate sub-advisory agreements with affiliated sub-advisors, each subject to board approval but without obtaining prior shareholder approval (the “Manager of Managers Structure”). The Fund will, however, inform shareholders of the hiring of any new affiliated sub-advisor within 90 days after the hiring. The SEC exemptive order provides the Fund with greater flexibility.

The use of the Manager of Managers Structure with respect to the Fund is subject to certain conditions that are set forth in the SEC exemptive order. Under the Manager of Managers Structure, FASA has the ultimate responsibility, subject to oversight by the Fund’s board of trustees, to oversee the affiliated sub-advisors and recommend their hiring, termination and replacement. FASA will also, subject to the review and approval of the Fund’s board of trustees: set the Fund’s overall investment strategy; evaluate, select and recommend affiliated sub-advisors to manage all or a portion of the Fund’s assets; allocate and, when appropriate, reallocate the Fund’s assets among affiliated sub-advisors; monitor and evaluate the affiliated sub-advisors’ performance; and implement procedures reasonably designed to ensure that each affiliated sub-advisor complies with the Fund’s investment goal, policies and restrictions.

Please keep this supplement with your prospectus for future reference.

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XML

Label

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Value

Risk/Return:

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Document Type

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Other

Document Period End Date

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May 31, 2013

Registrant Name

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FRANKLIN TEMPLETON INTERNATIONAL TRUST

Central Index Key

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0000876441

Amendment Flag

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false

Document Creation Date

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Dec. 27, 2011

Document Effective Date

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Apr. 01, 2014

Prospectus Date

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Apr. 01, 2014

Risk/Return [Heading]

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Fund Summary

Franklin Templeton Global Allocation Fund

Risk/Return:

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Objective [Heading]

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Investment Goal

Objective, Primary [Text Block]

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Total return.

Expense [Heading]

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Fees and Expenses of the Fund

Expense Narrative [Text Block]

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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 44 in the Fund's Prospectus and under “Buying and Selling Shares” on page 79 of the Fund’s Statement of Additional Information.

Shareholder Fees Caption [Text]

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SHAREHOLDER FEES (fees paid directly from your investment)

Operating Expenses Caption [Text]

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ANNUAL FUND OPERATING EXPENSES

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

Portfolio Turnover [Heading]

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Portfolio Turnover

Portfolio Turnover [Text Block]

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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 47.73% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

47.73%

Expense Breakpoint Discounts [Text]

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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.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example [Heading]

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Example

Expense Example Narrative [Text Block]

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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 waiver and/or expense reimbursement 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]

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If you do not sell your shares:

Strategy [Heading]

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Principal Investment Strategies

Strategy Narrative [Text Block]

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Under normal market conditions, the Fund seeks to achieve its investment goal by (1) investing in a diversified core portfolio of equity and fixed income investments, and (2) tactically adjusting the Fund's exposure to certain asset classes, regions, currencies and sectors independent of the investment processes of the investment strategies that comprise the core portfolio.

Under normal market conditions, the Fund’s baseline allocation between broad asset classes is:

50% Global Equity (U.S./International/Emerging)

35% Global Fixed Income (U.S./International/Emerging)

5% Commodity-linked Instruments

10% Cash and Derivative Instruments

The Fund is structured as a multi-manager fund, with the investment manager responsible for monitoring the Fund's overall investment performance, managing the Fund's allocation to commodities, managing the Fund's tactical asset allocation, and re-balancing the Fund’s portfolio to maintain the baseline allocation to various asset classes and investment strategies. The baseline allocation also may change from time to time, at the discretion of the investment manager.

The investment manager sub-contracts with various other investment managers within Franklin Templeton Investments (the "Sub-Advisors") who independently manage separate portions of the Fund's core equity and fixed income portfolio. The allocations to each strategy may change from time to time, at the discretion of the investment manager, and are subject to periodic rebalancing due to changing market values of securities held in the portfolio or at the discretion of the investment manager.

Franklin U.S. Growth Equity
The goal of this strategy is to seek capital appreciation by investing predominantly in equity securities of U.S. companies in any industry and of any market capitalization.

Templeton Global Bond
The goal of this strategy is to seek current income with capital appreciation and growth of income by investing predominantly in debt securities of governments and government agencies located around the world.

Mutual Series Equity
The goal of this strategy is to seek capital appreciation by focusing on undervalued mid- and large-cap equity securities, which may include foreign securities and, to a lesser extent, distressed securities and merger arbitrage securities.

Franklin Non-U.S. Growth Equity
The goal of this strategy is to seek capital appreciation by investing predominantly in the equity securities of mid- and large-capitalization companies outside the U.S. with long-term growth potential.

Franklin Templeton Global Low Duration Bond
The goal of this strategy is to seek to maximize long-term total return while controlling overall risk by investing primarily in investment-grade debt securities, targeting an estimated average duration of three (3) years or less, across different debt sectors around the world, including government and corporate debt securities, and mortgage and asset-backed securities.

Templeton Emerging Markets Equity
The goal of this strategy is to seek long-term capital appreciation by investing predominantly in equity securities of companies located in emerging market countries, applying a "bottom-up," value-oriented, long term approach.

Templeton Equity
The goal of this strategy is to seek long-term capital growth by investing primarily in equity securities of companies located outside the U.S., including emerging markets, applying a "bottom-up," value-oriented, long term approach.

In addition to the core portfolio, the investment manager uses various derivative instruments to make tactical investment decisions based on quantitative research and a systematic investment strategy driven by bottom-up fundamentals analysis, top-down macroeconomic analysis and short-term sentiment indicators. The Fund's tactical asset allocation is intended to adjust the Fund’s equity, fixed income, country/regional, and currency exposures. The investment manager does not attempt to time the direction of the entire market, but keeps the flexibility to shift the Fund's net exposure (the value of securities held long less the value of securities held short) depending on which market opportunities look more attractive. The Fund may, from time to time, have a net short position in certain asset classes, regions, currencies and sectors.

For purposes of pursuing its investment goal, the Fund regularly enters into various transactions involving derivative instruments. For the Fund's tactical asset allocation, the investment manager primarily uses stock index futures, government bond futures, and currency forwards and futures contracts. Stock index futures allow the Fund to obtain net long or net short exposures to a selected reference index and the underlying securities without actually having to purchase or sell such underlying securities. Bond/interest rate futures may allow the Fund to obtain net long or net short exposures to selected interest rates, durations or credit risks. Currency forwards and futures contracts may allow the Fund to obtain net long or net negative (short) exposure to selected currencies. The Fund may maintain significant positions in currency-related derivative instruments which could expose a large amount of the Fund's assets to obligations under the instruments. Derivative instruments may be used for tactical asset allocation to adjust or obtain net long or net negative (short) exposure to various asset classes, regions, currencies, sectors or securities, for hedging purposes, or to otherwise enhance Fund returns. The use of derivative instruments may allow the investment manager to make tactical allocations with fewer transaction costs than it might otherwise incur by changing allocations to the separate portions of the core portfolio.

The investment manager and some of the Sub-Advisors also may enter into various transactions involving derivative instruments with respect to the Fund's core equity and fixed income portfolio, and its allocation to commodities, to obtain exposure to various asset classes, regions, currencies, sectors or securities, for hedging purposes, or to otherwise enhance Fund returns. Exposure to commodities is currently obtained through the use of exchange-traded notes (ETNs). Because the investment decisions related to the Fund's tactical asset allocation are based on factors separate and independent from the investment decisions related to the core portfolio strategies, it is possible that the Fund's tactical asset allocation will be contrary to individual investments held in the core portfolio portion.

Risk [Heading]

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Principal Risks

Risk Narrative [Text Block]

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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 owned by the Fund will go up or down, sometimes rapidly or unpredictably. A security’s market value 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 securities. 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.

Credit

An issuer of debt securities may fail to make interest payments and repay principal when due, in whole or in part. Changes in an issuer's financial strength or in a security's credit rating may affect a security's value.

Interest Rate

When interest rates rise, debt security prices generally fall. The opposite is also generally true: debt security prices rise when interest rates fall. In general, securities with longer maturities are more sensitive to these interest rate changes.

Foreign Securities

Investing in foreign securities typically involves more risks than investing in U.S. securities, and includes risks associated with: political and economic developments - the political, economic and social structures of some foreign countries may be less stable and more volatile than those in the U.S.; trading practices - government supervision and regulation of foreign security and currency markets, trading systems and brokers may be less than in the U.S.; availability of information - foreign issuers may not be subject to the same disclosure, accounting and financial reporting standards and practices as U.S. issuers; limited markets - the securities of certain foreign issuers may be less liquid (harder to sell) and more volatile; and currency exchange rate fluctuations and policies. Although not typically subject to currency exchange rate risk, depositary receipts may be subject to the same risks as foreign securities generally. The risks of foreign investments typically are greater in less developed countries or emerging market countries.

Region 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.

Current political uncertainty surrounding the European Union (EU) and its membership may increase market volatility. The financial instability of some countries in the EU, including Greece, Italy and Spain, together with the risk of that impacting other more stable countries may increase the economic risk of investing in companies in Europe.

Currency Management Strategies

Currency management strategies may substantially change the Fund’s exposure to currency exchange rates and could result in losses to the Fund if currencies do not perform as the investment manager expects. In addition, currency management strategies, to the extent that they reduce the Fund’s exposure to currency risks, may also reduce the Fund’s ability to benefit from favorable changes in currency exchange rates. Using currency management strategies for purposes other than hedging further increases the Fund’s exposure to foreign investment losses. Currency markets generally are not as regulated as securities markets. In addition, currency rates may fluctuate significantly over short periods of time, and can reduce returns.

Emerging Markets

The Fund’s investments in emerging market countries are subject to all of the risks of foreign investing generally, and have additional heightened risks due to a lack of established legal, political, business and social frameworks to support securities markets, including: delays in settling portfolio securities transactions; currency and capital controls; greater sensitivity to interest rate changes; pervasiveness of corruption and crime; currency exchange rate volatility; and inflation, deflation or currency devaluation.

Asset Allocation

The Fund’s ability to achieve its investment goal depends upon the investment manager’s skill in determining the Fund’s asset allocation mix and selecting Sub-Advisors. There is the possibility that the investment manager’s evaluations and assumptions regarding asset classes and Sub-Advisors will not be successful in view of actual market trends.

Smaller and Midsize Companies

Securities issued by smaller and midsize companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development and limited or less developed product lines and markets. In addition, smaller and midsize companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans.

Derivative Instruments

The performance of derivative instruments depends largely on the performance of an underlying instrument, such as a currency, security or index, and such instruments often have risks similar to the underlying instrument, in addition to other risks. Derivatives involve costs and can create economic leverage in the Fund's portfolio which may result in significant volatility and cause the Fund to participate in losses (as well as gains) in an amount that significantly exceeds the Fund's initial investment. Other risks include illiquidity, mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that the Fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. Derivatives also present the risk that the other party to the transaction will fail to perform.

Growth Style Investing

Growth stock prices reflect projections of future earnings or revenues, and can, therefore, fall dramatically if the company fails to meet those projections. Prices of these companies’ securities may be more volatile than other securities, particularly over the short term.

Value Style Investing

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.

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.

Bar Chart and Performance Table [Heading]

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Performance

Performance Narrative [Text Block]

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The following bar chart and table provide some indication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance. The bar chart shows the Fund's performance for the most recent calendar year for Class A shares. 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.

The secondary indices in the table below show how the Fund's performance compares to groups of securities that align with portions of the Fund's portfolio.

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]

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The following bar chart and table provide some indication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance. The bar chart shows the Fund's performance for the most recent calendar year for Class A shares.

Performance Availability Phone [Text]

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(800) DIAL BEN/342-5236

Performance Availability Website Address [Text]

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franklintempleton.com

Performance Past Does Not Indicate Future [Text]

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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]

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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]

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Best Quarter:	Q1'12	7.90%
Worst Quarter:	Q2'12	-4.82%
As of June 30, 2013, the Fund's year-to-date return was -0.48%.

Performance Table Heading

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AVERAGE ANNUAL TOTAL RETURNS
(figures reflect sales charges)

For the periods ended December 31, 2012

Performance Table Closing [Text Block]

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No one index is representative of the Fund's portfolio.

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 Templeton Global Allocation Fund | MSCI All Country World Index

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

16.80%

Since Inception

rr_AverageAnnualReturnSinceInception

9.99%

Franklin Templeton Global Allocation Fund | Citigroup World Government Bond Index (WGBI)

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

1.65%

Since Inception

rr_AverageAnnualReturnSinceInception

(0.34%)

Franklin Templeton Global Allocation Fund | Payden & Rygel 90 Day U.S. Treasury Bill

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

0.08%

Since Inception

rr_AverageAnnualReturnSinceInception

0.06%

Franklin Templeton Global Allocation Fund | Dow Jones-UBS Commodity Index Total Return

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

(1.00%)

Since Inception

rr_AverageAnnualReturnSinceInception

(11.75%)

Franklin Templeton Global Allocation Fund | Class A

Risk/Return:

rr_RiskReturnAbstract

Maximum Cumulative Sales Charge (as a percentage of Offering Price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

5.75%

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

0.95%

^[1]

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.30%

^[2]

Other expenses of the Fund

rr_Component1OtherExpensesOverAssets

0.29%

Other expenses of the Subsidiary (including Subsidiary management fees)

rr_Component2OtherExpensesOverAssets

0.03%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[3]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.59%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.27%)

^[4]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.32%

^[3]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

702

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,023

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,367

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,334

Annual Return 2012

rr_AnnualReturn2012

10.65%

Year to Date Return, Label

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As of June 30, 2013, the Fund's year-to-date return was -0.48%.

Highest Quarterly Return, Label

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Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Mar. 31, 2012

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

7.90%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Jun. 30, 2012

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(4.82%)

Label

rr_AverageAnnualReturnLabel

Return Before Taxes

1 Year

rr_AverageAnnualReturnYear01

4.26%

Since Inception

rr_AverageAnnualReturnSinceInception

0.72%

Inception Date

rr_AverageAnnualReturnInceptionDate

Sep. 01, 2011

Franklin Templeton Global Allocation Fund | Class A | After Taxes on Distributions

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

3.80%

Since Inception

rr_AverageAnnualReturnSinceInception

0.26%

Inception Date

rr_AverageAnnualReturnInceptionDate

Sep. 01, 2011

Franklin Templeton Global Allocation Fund | Class A | After Taxes on Distributions and Sales

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

2.97%

Since Inception

rr_AverageAnnualReturnSinceInception

0.42%

Inception Date

rr_AverageAnnualReturnInceptionDate

Sep. 01, 2011

Franklin Templeton Global Allocation Fund | Class C

Risk/Return:

rr_RiskReturnAbstract

Maximum Cumulative Sales Charge (as a percentage of Offering Price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

1.00%

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

0.95%

^[1]

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

^[2]

Other expenses of the Fund

rr_Component1OtherExpensesOverAssets

0.29%

Other expenses of the Subsidiary (including Subsidiary management fees)

rr_Component2OtherExpensesOverAssets

0.03%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[3]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.29%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.27%)

^[4]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.02%

^[3]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

305

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

690

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,201

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,605

Expense Example, No Redemption, 1 Year

rr_ExpenseExampleNoRedemptionYear01

205

Expense Example, No Redemption, 3 Years

rr_ExpenseExampleNoRedemptionYear03

690

Expense Example, No Redemption, 5 Years

rr_ExpenseExampleNoRedemptionYear05

1,201

Expense Example, No Redemption, 10 Years

rr_ExpenseExampleNoRedemptionYear10

2,605

1 Year

rr_AverageAnnualReturnYear01

8.91%

Since Inception

rr_AverageAnnualReturnSinceInception

4.46%

Inception Date

rr_AverageAnnualReturnInceptionDate

Sep. 01, 2011

Franklin Templeton Global Allocation Fund | Class R

Risk/Return:

rr_RiskReturnAbstract

Maximum Cumulative Sales Charge (as a percentage of Offering Price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

0.95%

^[1]

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.50%

^[2]

Other expenses of the Fund

rr_Component1OtherExpensesOverAssets

0.29%

Other expenses of the Subsidiary (including Subsidiary management fees)

rr_Component2OtherExpensesOverAssets

0.03%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[3]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.79%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.27%)

^[4]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.52%

^[3]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

155

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

537

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

944

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,083

1 Year

rr_AverageAnnualReturnYear01

10.25%

Since Inception

rr_AverageAnnualReturnSinceInception

4.89%

Inception Date

rr_AverageAnnualReturnInceptionDate

Sep. 01, 2011

Franklin Templeton Global Allocation Fund | Advisor Class

Risk/Return:

rr_RiskReturnAbstract

Maximum Cumulative Sales Charge (as a percentage of Offering Price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

0.95%

^[1]

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

^[2]

Other expenses of the Fund

rr_Component1OtherExpensesOverAssets

0.29%

Other expenses of the Subsidiary (including Subsidiary management fees)

rr_Component2OtherExpensesOverAssets

0.03%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[3]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.29%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.27%)

^[4]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.02%

^[3]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

104

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

382

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

682

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 1,533

1 Year

rr_AverageAnnualReturnYear01

10.78%

Since Inception

rr_AverageAnnualReturnSinceInception

5.40%

Inception Date

rr_AverageAnnualReturnInceptionDate

Sep. 01, 2011

[1] Management fees and other expenses have been restated to reflect current fiscal year fees and expenses as a result of the bundling of the Fund's investment management agreement with its fund administration agreement effective May 1, 2013. Such combined investment management fees are described further under "Management" in the Fund's prospectus. Total annual fund operating expenses are not affected by such bundling. In addition, other expenses of the Fund and other expenses of the Subsidiary have been restated to exclude non-recurring prior period expenses. If such expenses were included in the table above, the amounts stated would have been greater.

[2] The Class A distribution and service (12b-1) fee has been restated to reflect the maximum annual contractual rate for the current fiscal year.

[3] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[4] The investment manager has contractually agreed to waive the management fee it receives from the Fund in an amount equal to the management fee paid by a Cayman Islands-based company that is wholly owned by the Fund (Subsidiary). This waiver may not be terminated and will remain in effect for as long as the investment manager’s contract with the Subsidiary is in place. Additionally, the investment manager and administrator have contractually agreed to waive or assume certain expenses so that common expenses (excluding Rule 12b-1 fees, acquired fund fees and expenses and certain non-routine expenses) do not exceed 1.00% until September 30, 2014. Contractual fee waiver and/or expense reimbursement agreements may not be terminated during their terms.

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Fund Summary

Franklin Templeton Global Allocation Fund

Investment Goal

Total return.

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 44 in the Fund's Prospectus and under “Buying and Selling Shares” on page 79 of the Fund’s Statement of Additional Information.

SHAREHOLDER FEES (fees paid directly from your investment)

Shareholder Fees Franklin Templeton Global Allocation Fund	Class A	Class C	Class R	Advisor Class
Maximum Cumulative Sales Charge (as a percentage of Offering Price)	5.75%	none	none	none
Maximum Deferred Sales Charge (as a percentage of Offering Price)	none	1.00%	none	none

ANNUAL FUND OPERATING EXPENSES

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

Annual Fund Operating Expenses Franklin Templeton Global Allocation Fund		Class A	Class C	Class R	Advisor Class
Management Fees (as a percentage of Assets)	[1]	0.95%	0.95%	0.95%	0.95%
Distribution and Service (12b-1) Fees	[2]	0.30%	1.00%	0.50%	none
Other expenses of the Fund		0.29%	0.29%	0.29%	0.29%
Other expenses of the Subsidiary (including Subsidiary management fees)		0.03%	0.03%	0.03%	0.03%
Acquired Fund Fees and Expenses	[3]	0.02%	0.02%	0.02%	0.02%
Expenses (as a percentage of Assets)		1.59%	2.29%	1.79%	1.29%
Fee Waiver or Reimbursement	[4]	(0.27%)	(0.27%)	(0.27%)	(0.27%)
Net Expenses (as a percentage of Assets)	[3]	1.32%	2.02%	1.52%	1.02%

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 waiver and/or expense reimbursement 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 Templeton Global Allocation Fund (USD $)	Expense Example, with Redemption, 1 Year	Expense Example, with Redemption, 3 Years	Expense Example, with Redemption, 5 Years	Expense Example, with Redemption, 10 Years
Class A	702	1,023	1,367	2,334
Class C	305	690	1,201	2,605
Class R	155	537	944	2,083
Advisor Class	104	382	682	1,533

If you do not sell your shares:

Expense Example, No Redemption (USD $)	Expense Example, No Redemption, 1 Year	Expense Example, No Redemption, 3 Years	Expense Example, No Redemption, 5 Years	Expense Example, No Redemption, 10 Years
Franklin Templeton Global Allocation Fund Class C	205	690	1,201	2,605

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 47.73% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund seeks to achieve its investment goal by (1) investing in a diversified core portfolio of equity and fixed income investments, and (2) tactically adjusting the Fund's exposure to certain asset classes, regions, currencies and sectors independent of the investment processes of the investment strategies that comprise the core portfolio.

Under normal market conditions, the Fund’s baseline allocation between broad asset classes is:

50% Global Equity (U.S./International/Emerging)

35% Global Fixed Income (U.S./International/Emerging)

5% Commodity-linked Instruments

10% Cash and Derivative Instruments

The Fund is structured as a multi-manager fund, with the investment manager responsible for monitoring the Fund's overall investment performance, managing the Fund's allocation to commodities, managing the Fund's tactical asset allocation, and re-balancing the Fund’s portfolio to maintain the baseline allocation to various asset classes and investment strategies. The baseline allocation also may change from time to time, at the discretion of the investment manager.

The investment manager sub-contracts with various other investment managers within Franklin Templeton Investments (the "Sub-Advisors") who independently manage separate portions of the Fund's core equity and fixed income portfolio. The allocations to each strategy may change from time to time, at the discretion of the investment manager, and are subject to periodic rebalancing due to changing market values of securities held in the portfolio or at the discretion of the investment manager.

Franklin U.S. Growth Equity
The goal of this strategy is to seek capital appreciation by investing predominantly in equity securities of U.S. companies in any industry and of any market capitalization.

Templeton Global Bond
The goal of this strategy is to seek current income with capital appreciation and growth of income by investing predominantly in debt securities of governments and government agencies located around the world.

Mutual Series Equity
The goal of this strategy is to seek capital appreciation by focusing on undervalued mid- and large-cap equity securities, which may include foreign securities and, to a lesser extent, distressed securities and merger arbitrage securities.

Franklin Non-U.S. Growth Equity
The goal of this strategy is to seek capital appreciation by investing predominantly in the equity securities of mid- and large-capitalization companies outside the U.S. with long-term growth potential.

Franklin Templeton Global Low Duration Bond
The goal of this strategy is to seek to maximize long-term total return while controlling overall risk by investing primarily in investment-grade debt securities, targeting an estimated average duration of three (3) years or less, across different debt sectors around the world, including government and corporate debt securities, and mortgage and asset-backed securities.

Templeton Emerging Markets Equity
The goal of this strategy is to seek long-term capital appreciation by investing predominantly in equity securities of companies located in emerging market countries, applying a "bottom-up," value-oriented, long term approach.

Templeton Equity
The goal of this strategy is to seek long-term capital growth by investing primarily in equity securities of companies located outside the U.S., including emerging markets, applying a "bottom-up," value-oriented, long term approach.

In addition to the core portfolio, the investment manager uses various derivative instruments to make tactical investment decisions based on quantitative research and a systematic investment strategy driven by bottom-up fundamentals analysis, top-down macroeconomic analysis and short-term sentiment indicators. The Fund's tactical asset allocation is intended to adjust the Fund’s equity, fixed income, country/regional, and currency exposures. The investment manager does not attempt to time the direction of the entire market, but keeps the flexibility to shift the Fund's net exposure (the value of securities held long less the value of securities held short) depending on which market opportunities look more attractive. The Fund may, from time to time, have a net short position in certain asset classes, regions, currencies and sectors.

For purposes of pursuing its investment goal, the Fund regularly enters into various transactions involving derivative instruments. For the Fund's tactical asset allocation, the investment manager primarily uses stock index futures, government bond futures, and currency forwards and futures contracts. Stock index futures allow the Fund to obtain net long or net short exposures to a selected reference index and the underlying securities without actually having to purchase or sell such underlying securities. Bond/interest rate futures may allow the Fund to obtain net long or net short exposures to selected interest rates, durations or credit risks. Currency forwards and futures contracts may allow the Fund to obtain net long or net negative (short) exposure to selected currencies. The Fund may maintain significant positions in currency-related derivative instruments which could expose a large amount of the Fund's assets to obligations under the instruments. Derivative instruments may be used for tactical asset allocation to adjust or obtain net long or net negative (short) exposure to various asset classes, regions, currencies, sectors or securities, for hedging purposes, or to otherwise enhance Fund returns. The use of derivative instruments may allow the investment manager to make tactical allocations with fewer transaction costs than it might otherwise incur by changing allocations to the separate portions of the core portfolio.

The investment manager and some of the Sub-Advisors also may enter into various transactions involving derivative instruments with respect to the Fund's core equity and fixed income portfolio, and its allocation to commodities, to obtain exposure to various asset classes, regions, currencies, sectors or securities, for hedging purposes, or to otherwise enhance Fund returns. Exposure to commodities is currently obtained through the use of exchange-traded notes (ETNs). Because the investment decisions related to the Fund's tactical asset allocation are based on factors separate and independent from the investment decisions related to the core portfolio strategies, it is possible that the Fund's tactical asset allocation will be contrary to individual investments held in the core portfolio portion.

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 owned by the Fund will go up or down, sometimes rapidly or unpredictably. A security’s market value 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 securities. 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.

Credit

An issuer of debt securities may fail to make interest payments and repay principal when due, in whole or in part. Changes in an issuer's financial strength or in a security's credit rating may affect a security's value.

Interest Rate

When interest rates rise, debt security prices generally fall. The opposite is also generally true: debt security prices rise when interest rates fall. In general, securities with longer maturities are more sensitive to these interest rate changes.

Foreign Securities

Investing in foreign securities typically involves more risks than investing in U.S. securities, and includes risks associated with: political and economic developments - the political, economic and social structures of some foreign countries may be less stable and more volatile than those in the U.S.; trading practices - government supervision and regulation of foreign security and currency markets, trading systems and brokers may be less than in the U.S.; availability of information - foreign issuers may not be subject to the same disclosure, accounting and financial reporting standards and practices as U.S. issuers; limited markets - the securities of certain foreign issuers may be less liquid (harder to sell) and more volatile; and currency exchange rate fluctuations and policies. Although not typically subject to currency exchange rate risk, depositary receipts may be subject to the same risks as foreign securities generally. The risks of foreign investments typically are greater in less developed countries or emerging market countries.

Region 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.

Current political uncertainty surrounding the European Union (EU) and its membership may increase market volatility. The financial instability of some countries in the EU, including Greece, Italy and Spain, together with the risk of that impacting other more stable countries may increase the economic risk of investing in companies in Europe.

Currency Management Strategies

Currency management strategies may substantially change the Fund’s exposure to currency exchange rates and could result in losses to the Fund if currencies do not perform as the investment manager expects. In addition, currency management strategies, to the extent that they reduce the Fund’s exposure to currency risks, may also reduce the Fund’s ability to benefit from favorable changes in currency exchange rates. Using currency management strategies for purposes other than hedging further increases the Fund’s exposure to foreign investment losses. Currency markets generally are not as regulated as securities markets. In addition, currency rates may fluctuate significantly over short periods of time, and can reduce returns.

Emerging Markets

The Fund’s investments in emerging market countries are subject to all of the risks of foreign investing generally, and have additional heightened risks due to a lack of established legal, political, business and social frameworks to support securities markets, including: delays in settling portfolio securities transactions; currency and capital controls; greater sensitivity to interest rate changes; pervasiveness of corruption and crime; currency exchange rate volatility; and inflation, deflation or currency devaluation.

Asset Allocation

The Fund’s ability to achieve its investment goal depends upon the investment manager’s skill in determining the Fund’s asset allocation mix and selecting Sub-Advisors. There is the possibility that the investment manager’s evaluations and assumptions regarding asset classes and Sub-Advisors will not be successful in view of actual market trends.

Smaller and Midsize Companies

Securities issued by smaller and midsize companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development and limited or less developed product lines and markets. In addition, smaller and midsize companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans.

Derivative Instruments

The performance of derivative instruments depends largely on the performance of an underlying instrument, such as a currency, security or index, and such instruments often have risks similar to the underlying instrument, in addition to other risks. Derivatives involve costs and can create economic leverage in the Fund's portfolio which may result in significant volatility and cause the Fund to participate in losses (as well as gains) in an amount that significantly exceeds the Fund's initial investment. Other risks include illiquidity, mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that the Fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. Derivatives also present the risk that the other party to the transaction will fail to perform.

Growth Style Investing

Growth stock prices reflect projections of future earnings or revenues, and can, therefore, fall dramatically if the company fails to meet those projections. Prices of these companies’ securities may be more volatile than other securities, particularly over the short term.

Value Style Investing

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.

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.

Performance

The following bar chart and table provide some indication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance. The bar chart shows the Fund's performance for the most recent calendar year for Class A shares. 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.

The secondary indices in the table below show how the Fund's performance compares to groups of securities that align with portions of the Fund's portfolio.

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

Best Quarter:	Q1'12	7.90%
Worst Quarter:	Q2'12	-4.82%
As of June 30, 2013, the Fund's year-to-date return was -0.48%.

AVERAGE ANNUAL TOTAL RETURNS
(figures reflect sales charges)

For the periods ended December 31, 2012

Average Annual Total Returns Franklin Templeton Global Allocation Fund	Label	1 Year	Since Inception	Inception Date
MSCI All Country World Index		16.80%	9.99%
Citigroup World Government Bond Index (WGBI)		1.65%	(0.34%)
Payden & Rygel 90 Day U.S. Treasury Bill		0.08%	0.06%
Dow Jones-UBS Commodity Index Total Return		(1.00%)	(11.75%)
Class A	Return Before Taxes	4.26%	0.72%	Sep. 01, 2011
Class A After Taxes on Distributions		3.80%	0.26%	Sep. 01, 2011
Class A After Taxes on Distributions and Sales		2.97%	0.42%	Sep. 01, 2011
Class C		8.91%	4.46%	Sep. 01, 2011
Class R		10.25%	4.89%	Sep. 01, 2011
Advisor Class		10.78%	5.40%	Sep. 01, 2011

No one index is representative of the Fund's portfolio.

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.

[1] Management fees and other expenses have been restated to reflect current fiscal year fees and expenses as a result of the bundling of the Fund's investment management agreement with its fund administration agreement effective May 1, 2013. Such combined investment management fees are described further under "Management" in the Fund's prospectus. Total annual fund operating expenses are not affected by such bundling. In addition, other expenses of the Fund and other expenses of the Subsidiary have been restated to exclude non-recurring prior period expenses. If such expenses were included in the table above, the amounts stated would have been greater.

[2] The Class A distribution and service (12b-1) fee has been restated to reflect the maximum annual contractual rate for the current fiscal year.

[3] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[4] The investment manager has contractually agreed to waive the management fee it receives from the Fund in an amount equal to the management fee paid by a Cayman Islands-based company that is wholly owned by the Fund (Subsidiary). This waiver may not be terminated and will remain in effect for as long as the investment manager’s contract with the Subsidiary is in place. Additionally, the investment manager and administrator have contractually agreed to waive or assume certain expenses so that common expenses (excluding Rule 12b-1 fees, acquired fund fees and expenses and certain non-routine expenses) do not exceed 1.00% until September 30, 2014. Contractual fee waiver and/or expense reimbursement agreements may not be terminated during their terms.