UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-08226

Templeton Global Investment Trust

(Exact name of registrant as specified in charter)

300 S.E. 2nd Street, Fort Lauderdale, FL 33301-1923

(Address of principal executive offices) (Zip code)

Alison Baur

Franklin Templeton

One Franklin Parkway

San Mateo, CA 94403-1906

(Name and address of agent for service)

Registrant’s telephone number, including area code: (954) 527-7500

Date of fiscal year end: December 31

Date of reporting period: December 31, 2024

ITEM 1. REPORT TO STOCKHOLDERS.

(a) The Report to Shareholders is filed herewith

Templeton Global Balanced Fund
Class A [TAGBX]
Annual Shareholder Report | December 31, 2024

This annual shareholder report contains important information about Templeton Global Balanced Fund for the period January 1, 2024, to December 31, 2024.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.  

WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment*
Class A	$120	1.20%

* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

For the twelve months ended December 31, 2024, Class A shares of Templeton Global Balanced Fund returned 0.44%. The Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.

PERFORMANCE HIGHLIGHTS

Top contributors to performance:
↑	Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.
↑	Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade sovereign credit.
↑	In currencies, underweighted exposure to the euro contributed to relative returns.
↑	In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the year.

Top detractors from performance:
↓	Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.
↓	In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also detracted from relative performance.
↓	An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.

Use of derivatives and the impact on performance:

The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps were used to manage duration exposure, which also detracted from performance.

Templeton Global Balanced Fund  PAGE 1  325-ATSR-0225

HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?

The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

VALUE OF A $10,000 INVESTMENT ($9,450 AFTER MAXIMUM APPLICABLE SALES CHARGE)   –
Class A 12/31/2014 — 12/31/2024

AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended December 31, 2024

	1 Year	5 Year	10 Year
Class A	0.44	-0.42	0.91
Class A (with sales charge)	-4.92	-1.57	0.34
Bloomberg Global Aggregate Index	-1.69	-1.96	0.15
MSCI All Country World Index-NR	17.49	10.06	9.23
Bloomberg Multiverse Index	-1.34	-1.76	0.35
Blended Benchmark†	7.78	4.22	4.91

† The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

Performance for periods prior to September 10, 2018, has been restated to reflect the current maximum sales charge, which is lower than the maximum sales charge prior to that date.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

KEY FUND STATISTICS (as of December 31, 2024)

Total Net Assets	$291,702,427
Total Number of Portfolio Holdings*	126
Total Management Fee Paid	$2,228,238
Portfolio Turnover Rate	43.31%

* Does not include derivatives, except purchased options, if any.  

Templeton Global Balanced Fund  PAGE 2  325-ATSR-0225

WHAT DID THE FUND INVEST IN? (as of December 31, 2024)

Portfolio Composition^* (% of Total Investments)

* Does not include derivatives, except purchased options, if any.  

	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information

HOUSEHOLDING

You will receive the Fund’s shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Templeton Global Balanced Fund  PAGE 3  325-ATSR-0225

Templeton Global Balanced Fund
Class A1 [TINCX]
Annual Shareholder Report | December 31, 2024

This annual shareholder report contains important information about Templeton Global Balanced Fund for the period January 1, 2024, to December 31, 2024.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.  

WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment*
Class A1	$120	1.20%

* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

For the twelve months ended December 31, 2024, Class A1 shares of Templeton Global Balanced Fund returned 0.44%. The Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.

PERFORMANCE HIGHLIGHTS

Top contributors to performance:
↑	Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.
↑	Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade sovereign credit.
↑	In currencies, underweighted exposure to the euro contributed to relative returns.
↑	In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the year.

Top detractors from performance:
↓	Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.
↓	In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also detracted from relative performance.
↓	An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.

Use of derivatives and the impact on performance:

The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps were used to manage duration exposure, which also detracted from performance.

Templeton Global Balanced Fund  PAGE 1  425-ATSR-0225

HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?

The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

VALUE OF A $10,000 INVESTMENT ($9,625 AFTER MAXIMUM APPLICABLE SALES CHARGE)   –
Class A1 12/31/2014 — 12/31/2024

AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended December 31, 2024

	1 Year	5 Year	10 Year
Class A1	0.44	-0.41	0.95
Class A1 (with sales charge)	-3.43	-1.16	0.56
Bloomberg Global Aggregate Index	-1.69	-1.96	0.15
MSCI All Country World Index-NR	17.49	10.06	9.23
Bloomberg Multiverse Index	-1.34	-1.76	0.35
Blended Benchmark†	7.78	4.22	4.91

† The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

Performance for periods prior to March 1, 2019, has been restated to reflect the current maximum sales charge, which is lower than the maximum sales charge prior to that date.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

KEY FUND STATISTICS (as of December 31, 2024)

Total Net Assets	$291,702,427
Total Number of Portfolio Holdings*	126
Total Management Fee Paid	$2,228,238
Portfolio Turnover Rate	43.31%

* Does not include derivatives, except purchased options, if any.  

Templeton Global Balanced Fund  PAGE 2  425-ATSR-0225

WHAT DID THE FUND INVEST IN? (as of December 31, 2024)

Portfolio Composition^* (% of Total Investments)

* Does not include derivatives, except purchased options, if any.  

	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information

HOUSEHOLDING

You will receive the Fund’s shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Templeton Global Balanced Fund  PAGE 3  425-ATSR-0225

Templeton Global Balanced Fund
Class C [FCGBX]
Annual Shareholder Report | December 31, 2024

This annual shareholder report contains important information about Templeton Global Balanced Fund for the period January 1, 2024, to December 31, 2024.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.  

WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment*
Class C	$195	1.95%

* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

For the twelve months ended December 31, 2024, Class C shares of Templeton Global Balanced Fund returned -0.33%. The Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.

PERFORMANCE HIGHLIGHTS

Top contributors to performance:
↑	Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.
↑	Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade sovereign credit.
↑	In currencies, underweighted exposure to the euro contributed to relative returns.
↑	In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the year.

Top detractors from performance:
↓	Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.
↓	In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also detracted from relative performance.
↓	An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.

Use of derivatives and the impact on performance:

The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps were used to manage duration exposure, which also detracted from performance.

Templeton Global Balanced Fund  PAGE 1  225-ATSR-0225

HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?

The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

VALUE OF A $10,000 INVESTMENT – Class C 12/31/2014 — 12/31/2024

AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended December 31, 2024

	1 Year	5 Year	10 Year
Class C	-0.33	-1.15	0.17
Class C (with sales charge)	-1.29	-1.15	0.17
Bloomberg Global Aggregate Index	-1.69	-1.96	0.15
MSCI All Country World Index-NR	17.49	10.06	9.23
Bloomberg Multiverse Index	-1.34	-1.76	0.35
Blended Benchmark†	7.78	4.22	4.91

† The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

KEY FUND STATISTICS (as of December 31, 2024)

Total Net Assets	$291,702,427
Total Number of Portfolio Holdings*	126
Total Management Fee Paid	$2,228,238
Portfolio Turnover Rate	43.31%

* Does not include derivatives, except purchased options, if any.  

Templeton Global Balanced Fund  PAGE 2  225-ATSR-0225

WHAT DID THE FUND INVEST IN? (as of December 31, 2024)

Portfolio Composition^* (% of Total Investments)

* Does not include derivatives, except purchased options, if any.  

	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information

HOUSEHOLDING

You will receive the Fund’s shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Templeton Global Balanced Fund  PAGE 3  225-ATSR-0225

Templeton Global Balanced Fund
Class C1 [TCINX]
Annual Shareholder Report | December 31, 2024

This annual shareholder report contains important information about Templeton Global Balanced Fund for the period January 1, 2024, to December 31, 2024.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.  

WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment*
Class C1	$160	1.60%

* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

For the twelve months ended December 31, 2024, Class C1 shares of Templeton Global Balanced Fund returned 0.05%. The Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.

PERFORMANCE HIGHLIGHTS

Top contributors to performance:
↑	Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.
↑	Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade sovereign credit.
↑	In currencies, underweighted exposure to the euro contributed to relative returns.
↑	In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the year.

Top detractors from performance:
↓	Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.
↓	In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also detracted from relative performance.
↓	An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.

Use of derivatives and the impact on performance:

The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps were used to manage duration exposure, which also detracted from performance.

Templeton Global Balanced Fund  PAGE 1  525-ATSR-0225

HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?

The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

VALUE OF A $10,000 INVESTMENT – Class C1 12/31/2014 — 12/31/2024

AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended December 31, 2024

	1 Year	5 Year	10 Year
Class C1	0.05	-0.79	0.54
Class C1 (with sales charge)	-0.91	-0.79	0.54
Bloomberg Global Aggregate Index	-1.69	-1.96	0.15
MSCI All Country World Index-NR	17.49	10.06	9.23
Bloomberg Multiverse Index	-1.34	-1.76	0.35
Blended Benchmark†	7.78	4.22	4.91

† The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

KEY FUND STATISTICS (as of December 31, 2024)

Total Net Assets	$291,702,427
Total Number of Portfolio Holdings*	126
Total Management Fee Paid	$2,228,238
Portfolio Turnover Rate	43.31%

* Does not include derivatives, except purchased options, if any.  

Templeton Global Balanced Fund  PAGE 2  525-ATSR-0225

WHAT DID THE FUND INVEST IN? (as of December 31, 2024)

Portfolio Composition^* (% of Total Investments)

* Does not include derivatives, except purchased options, if any.  

	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information

HOUSEHOLDING

You will receive the Fund’s shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Templeton Global Balanced Fund  PAGE 3  525-ATSR-0225

Templeton Global Balanced Fund
Class R
Annual Shareholder Report | December 31, 2024

This annual shareholder report contains important information about Templeton Global Balanced Fund for the period January 1, 2024, to December 31, 2024.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.  

WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment*
Class R	$145	1.45%

* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

For the twelve months ended December 31, 2024, Class R shares of Templeton Global Balanced Fund returned 0.21%. The Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.

PERFORMANCE HIGHLIGHTS

Top contributors to performance:
↑	Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.
↑	Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade sovereign credit.
↑	In currencies, underweighted exposure to the euro contributed to relative returns.
↑	In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the year.

Top detractors from performance:
↓	Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.
↓	In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also detracted from relative performance.
↓	An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.

Use of derivatives and the impact on performance:

The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps were used to manage duration exposure, which also detracted from performance.

Templeton Global Balanced Fund  PAGE 1  825-ATSR-0225

HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?

The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

VALUE OF A $10,000 INVESTMENT – Class R 12/31/2014 — 12/31/2024

AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended December 31, 2024

	1 Year	5 Year	10 Year
Class R	0.21	-0.57	0.70
Bloomberg Global Aggregate Index	-1.69	-1.96	0.15
MSCI All Country World Index-NR	17.49	10.06	9.23
Bloomberg Multiverse Index	-1.34	-1.76	0.35
Blended Benchmark†	7.78	4.22	4.91

† The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

KEY FUND STATISTICS (as of December 31, 2024)

Total Net Assets	$291,702,427
Total Number of Portfolio Holdings*	126
Total Management Fee Paid	$2,228,238
Portfolio Turnover Rate	43.31%

* Does not include derivatives, except purchased options, if any.  

Templeton Global Balanced Fund  PAGE 2  825-ATSR-0225

WHAT DID THE FUND INVEST IN? (as of December 31, 2024)

Portfolio Composition^* (% of Total Investments)

* Does not include derivatives, except purchased options, if any.  

	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information

HOUSEHOLDING

You will receive the Fund’s shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Templeton Global Balanced Fund  PAGE 3  825-ATSR-0225

Templeton Global Balanced Fund
Class R6 [FGGBX]
Annual Shareholder Report | December 31, 2024

This annual shareholder report contains important information about Templeton Global Balanced Fund for the period January 1, 2024, to December 31, 2024.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.  

WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment*
Class R6	$88	0.88%

* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

For the twelve months ended December 31, 2024, Class R6 shares of Templeton Global Balanced Fund returned 0.79%. The Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.

PERFORMANCE HIGHLIGHTS

Top contributors to performance:
↑	Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.
↑	Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade sovereign credit.
↑	In currencies, underweighted exposure to the euro contributed to relative returns.
↑	In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the year.

Top detractors from performance:
↓	Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.
↓	In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also detracted from relative performance.
↓	An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.

Use of derivatives and the impact on performance:

The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps were used to manage duration exposure, which also detracted from performance.

Templeton Global Balanced Fund  PAGE 1  359-ATSR-0225

HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?

The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

VALUE OF A $10,000 INVESTMENT – Class R6 12/31/2014 — 12/31/2024

AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended December 31, 2024

	1 Year	5 Year	10 Year
Class R6	0.79	-0.06	1.27
Bloomberg Global Aggregate Index	-1.69	-1.96	0.15
MSCI All Country World Index-NR	17.49	10.06	9.23
Bloomberg Multiverse Index	-1.34	-1.76	0.35
Blended Benchmark†	7.78	4.22	4.91

† The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

KEY FUND STATISTICS (as of December 31, 2024)

Total Net Assets	$291,702,427
Total Number of Portfolio Holdings*	126
Total Management Fee Paid	$2,228,238
Portfolio Turnover Rate	43.31%

* Does not include derivatives, except purchased options, if any.  

Templeton Global Balanced Fund  PAGE 2  359-ATSR-0225

WHAT DID THE FUND INVEST IN? (as of December 31, 2024)

Portfolio Composition^* (% of Total Investments)

* Does not include derivatives, except purchased options, if any.  

	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information

HOUSEHOLDING

You will receive the Fund’s shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Templeton Global Balanced Fund  PAGE 3  359-ATSR-0225

Templeton Global Balanced Fund
Advisor Class [TZINX]
Annual Shareholder Report | December 31, 2024

This annual shareholder report contains important information about Templeton Global Balanced Fund for the period January 1, 2024, to December 31, 2024.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.  

WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment*
Advisor Class	$95	0.95%

* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

For the twelve months ended December 31, 2024, Advisor Class shares of Templeton Global Balanced Fund returned 0.70%. The Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.

PERFORMANCE HIGHLIGHTS

Top contributors to performance:
↑	Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.
↑	Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade sovereign credit.
↑	In currencies, underweighted exposure to the euro contributed to relative returns.
↑	In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the year.

Top detractors from performance:
↓	Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.
↓	In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also detracted from relative performance.
↓	An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.

Use of derivatives and the impact on performance:

The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps were used to manage duration exposure, which also detracted from performance.

Templeton Global Balanced Fund  PAGE 1  625-ATSR-0225

HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?

The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

VALUE OF A $10,000 INVESTMENT – Advisor Class 12/31/2014 — 12/31/2024

AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended December 31, 2024

	1 Year	5 Year	10 Year
Advisor Class	0.70	-0.16	1.20
Bloomberg Global Aggregate Index	-1.69	-1.96	0.15
MSCI All Country World Index-NR	17.49	10.06	9.23
Bloomberg Multiverse Index	-1.34	-1.76	0.35
Blended Benchmark†	7.78	4.22	4.91

† The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index.

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

KEY FUND STATISTICS (as of December 31, 2024)

Total Net Assets	$291,702,427
Total Number of Portfolio Holdings*	126
Total Management Fee Paid	$2,228,238
Portfolio Turnover Rate	43.31%

* Does not include derivatives, except purchased options, if any.  

Templeton Global Balanced Fund  PAGE 2  625-ATSR-0225

WHAT DID THE FUND INVEST IN? (as of December 31, 2024)

Portfolio Composition^* (% of Total Investments)

* Does not include derivatives, except purchased options, if any.  

	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information

HOUSEHOLDING

You will receive the Fund’s shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) DIAL BEN/342-5236. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Templeton Global Balanced Fund  PAGE 3  625-ATSR-0225

(b) Not applicable

ITEM 2. CODE OF ETHICS.

(a) The Registrant has adopted a code of ethics that applies to its principal executive officers and principal financial and accounting officer.

(c) N/A

(d) N/A

(f) Pursuant to Item 19(a) (1), the Registrant is attaching as an exhibit a copy of its code of ethics that applies to its principal executive officers and principal financial and accounting officer.

ITEM 3.

AUDIT COMMITTEE FINANCIAL EXPERT.

The Board of Trustees of the Registrant has determined that Ann Torre Bates and David W. Niemiec possess the technical attributes identified in Instruction 2(b) of Item 3 to Form N-CSR to qualify as an “audit committee financial expert,” and has designated Ann Torre Bates and David W. Niemiec as the Audit Committee’s financial experts. Ann Torre Bates and David W. Niemiec are “independent” Trustees pursuant to paragraph (a) (2) of Item 3 to Form N-CSR.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees. The aggregate fees billed in the last two fiscal years ending December 31, 2023 and December 31, 2024 (the “Reporting Periods”) for professional services rendered by the Registrant’s principal accountant (the “Auditor”) for the audit of the Registrant’s annual financial statements, or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $66,061 in December 31, 2023 and $67,679 in December 31, 2024.

(b) Audit-Related Fees. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the Registrant’s financial statements were $0 in December 31, 2023 and $0 in December 31, 2024.

(c) Tax Fees. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice and tax planning (“Tax Services”) were $0 in December 31, 2023 and $11,000 in December 31, 2024. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held or proposed to be acquired or held.

There were no fees billed for tax services by the Auditor to the Registrant’s investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant (“Service Affiliates”) during the Reporting Periods that required pre-approval by the Audit Committee.

(d) All Other Fees. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor to the Registrant, other than the services reported in paragraphs (a) through (c) of this item, were $0 in December 31, 2023 and $0 in December 31, 2024.

There were no other non-audit services rendered by the Auditor to the Service Affiliates requiring pre-approval by the Audit Committee in the Reporting Periods.

(e) Audit Committee’s pre-approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of Regulation S-X.

(1) The Registrant’s Audit Committee is directly responsible for approving the services to be provided by the Auditors, including:

(i) pre-approval of all audit and audit related services;

(ii) pre-approval of all non-audit related services to be provided to the Registrant by the Auditors;

(iii) pre-approval of all non-audit related services to be provided by the Auditors to the Registrant and the Service Affiliates where the non-audit services relate directly to the operations or financial reporting of the Registrant; and

(iv) establishment by the Audit Committee, if deemed necessary or appropriate, as an alternative to committee pre-approval of services to be provided by the Auditors, as required by paragraphs (ii) and (iii) above, of policies and procedures to permit such services to be pre-approved by other means, such as through establishment of guidelines or by action of a designated member or members of the committee; provided the policies and procedures are detailed as to the particular service and the committee is informed of each service and such policies and procedures do not include delegation of Audit Committee responsibilities, as contemplated under the Securities Exchange Act of 1934, to management; subject, in the case of (ii) through (iv), to any waivers, exceptions or exemptions that may be available under applicable law or rules.

(2) None of the services described in paragraphs (b) through (d) of this Item were performed in reliance on paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) Non-audit fees billed by the Auditor for services rendered to the Registrant and the Service Affiliates during the Reporting Periods were $233,926 in December 31, 2023 and $584,790 in December 31, 2024.

(h) Yes. The Registrant’s audit committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor’s independence. All services provided by the Auditor to the Registrant or to the Service Affiliates, which were required to be pre-approved, were pre-approved as required.

(i) Not applicable.

(j) Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable

ITEM 6. SCHEDULE OF INVESTMENTS.

(a) Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 7 of this Form N-CSR.

(b) Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Templeton

Global

Balanced

Fund

Financial

Statements

and

Other

Important

Information

Annual

|

December

31,

2024

Table

of

Contents

franklintempleton.com

Financial

Statements

and

Other

Important

Information—Annual

1

Financial

Highlights

and

Schedule

of

Investments

2

Financial

Statements

17

Notes

to

Financial

Statements

22

Report

of

Independent

Registered

Public

Accounting

Firm

38

Tax

Information

39

Changes

In

and

Disagreements

with

Accountants

40

Results

of

Meeting(s)

of

Shareholders

40

Remuneration

Paid

to

Directors,

Officers

and

Others

40

Board

Approval

of

Management

and

Subadvisory

Agreements

40

Templeton

Global

Investment

Trust

Financial

Highlights

Templeton

Global

Balanced

Fund

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

2

a

Year

Ended

December

31,

2024

2023

2022

2021

*

2020

a

Class

A

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$2.48

$2.26

$2.72

$2.82

$2.84

Income

from

investment

operations

b

:

Net

investment

income

c

.........................

0.12

0.08

0.07

0.05

0.07

Net

realized

and

unrealized

gains

(losses)

...........

(0.11)

0.23

(0.46)

(0.09)

(0.04)

Total

from

investment

operations

....................

0.01

0.31

(0.39)

(0.04)

0.03

Less

distributions

from:

Net

investment

income

..........................

(0.05)

—

—

—

(0.05)

Tax

return

of

capital

............................

(0.07)

(0.09)

(0.07)

(0.06)

—

Total

distributions

...............................

(0.12)

(0.09)

(0.07)

(0.06)

(0.05)

Net

asset

value,

end

of

year

.......................

$2.37

$2.48

$2.26

$2.72

$2.82

Total

return

d

...................................

0.44%

13.80%

(14.28)%

(1.54)%

1.49%

Ratios

to

average

net

assets

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.25%

1.32%

1.32%

1.30%

1.30%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.20%

1.23%

1.20%

1.20%

1.26%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.20%

1.20%

1.20%

e

1.20%

e

1.26%

e

Net

investment

income

...........................

4.78%

3.53%

2.80%

1.89%

2.85%

Supplemental

data

Net

assets,

end

of

year

(000’s)

.....................

$169,356

$206,734

$210,786

$302,724

$354,879

Portfolio

turnover

rate

............................

43.31%

61.11%

56.93%

52.63%

74.03%

*

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV

from

January

1,

2021

through

April

27,

2021.

a

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV.

b

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund’s

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

c

Based

on

average

daily

shares

outstanding.

d

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Investment

Trust

Financial

Highlights

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

3

a

Year

Ended

December

31,

2024

2023

2022

2021

*

2020

a

Class

A1

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$2.49

$2.27

$2.73

$2.83

$2.84

Income

from

investment

operations

b

:

Net

investment

income

c

.........................

0.12

0.08

0.07

0.05

0.07

Net

realized

and

unrealized

gains

(losses)

...........

(0.11)

0.23

(0.46)

(0.09)

(0.03)

Total

from

investment

operations

....................

0.01

0.31

(0.39)

(0.04)

0.04

Less

distributions

from:

Net

investment

income

..........................

(0.05)

—

—

—

(0.05)

Tax

return

of

capital

............................

(0.07)

(0.09)

(0.07)

(0.06)

—

Total

distributions

...............................

(0.12)

(0.09)

(0.07)

(0.06)

(0.05)

Net

asset

value,

end

of

year

.......................

$2.38

$2.49

$2.27

$2.73

$2.83

Total

return

d

...................................

0.44%

13.75%

(14.21)%

(1.53)%

1.49%

Ratios

to

average

net

assets

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.25%

1.32%

1.32%

1.30%

1.30%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.20%

1.23%

1.20%

1.20%

1.26%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.20%

1.20%

1.20%

e

1.20%

e

1.26%

e

Net

investment

income

...........................

4.77%

3.53%

2.80%

1.89%

2.86%

Supplemental

data

Net

assets,

end

of

year

(000’s)

.....................

$83,609

$104,309

$108,558

$165,287

$198,816

Portfolio

turnover

rate

............................

43.31%

61.11%

56.93%

52.63%

74.03%

*

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV

from

January

1,

2021

through

April

27,

2021.

a

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV.

b

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund’s

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

c

Based

on

average

daily

shares

outstanding.

d

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Investment

Trust

Financial

Highlights

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

4

a

Year

Ended

December

31,

2024

2023

2022

2021

*

2020

a

Class

C

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$2.48

$2.26

$2.71

$2.81

$2.82

Income

from

investment

operations

b

:

Net

investment

income

c

.........................

0.10

0.06

0.05

0.03

0.05

Net

realized

and

unrealized

gains

(losses)

...........

(0.11)

0.23

(0.45)

(0.10)

(0.03)

Total

from

investment

operations

....................

(0.01)

0.29

(0.40)

(0.07)

0.02

Less

distributions

from:

Net

investment

income

..........................

(0.04)

—

—

—

(0.03)

Tax

return

of

capital

............................

(0.06)

(0.07)

(0.05)

(0.03)

—

Total

distributions

...............................

(0.10)

(0.07)

(0.05)

(0.03)

(0.03)

Net

asset

value,

end

of

year

.......................

$2.37

$2.48

$2.26

$2.71

$2.81

Total

return

d

...................................

(0.33)%

12.90%

(14.68)%

(2.37)%

0.68%

Ratios

to

average

net

assets

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

2.00%

2.07%

2.08%

2.04%

2.04%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.95%

1.98%

1.95%

1.95%

2.00%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.95%

1.95%

1.95%

e

1.95%

e

2.00%

e

Net

investment

income

...........................

4.02%

2.74%

2.02%

1.12%

2.02%

Supplemental

data

Net

assets,

end

of

year

(000’s)

.....................

$9,951

$13,259

$18,904

$39,982

$83,658

Portfolio

turnover

rate

............................

43.31%

61.11%

56.93%

52.63%

74.03%

*

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV

from

January

1,

2021

through

April

27,

2021.

a

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV.

b

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund’s

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

c

Based

on

average

daily

shares

outstanding.

d

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Investment

Trust

Financial

Highlights

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

5

a

Year

Ended

December

31,

2024

2023

2022

2021

*

2020

a

Class

C1

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$2.50

$2.27

$2.73

$2.83

$2.84

Income

from

investment

operations

b

:

Net

investment

income

c

.........................

0.11

0.07

0.06

0.04

0.06

Net

realized

and

unrealized

gains

(losses)

...........

(0.11)

0.24

(0.46)

(0.10)

(0.03)

Total

from

investment

operations

....................

—

0.31

(0.40)

(0.06)

0.03

Less

distributions

from:

Net

investment

income

..........................

(0.05)

—

—

—

(0.04)

Tax

return

of

capital

............................

(0.06)

(0.08)

(0.06)

(0.04)

—

Total

distributions

...............................

(0.11)

(0.08)

(0.06)

(0.04)

(0.04)

Net

asset

value,

end

of

year

.......................

$2.39

$2.50

$2.27

$2.73

$2.83

Total

return

d

...................................

0.05%

13.71%

(14.61)%

(2.06)%

1.01%

Ratios

to

average

net

assets

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.65%

1.72%

1.72%

1.68%

1.70%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.60%

1.63%

1.60%

1.60%

1.66%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.60%

1.60%

1.60%

e

1.60%

e

1.66%

e

Net

investment

income

...........................

4.35%

3.07%

2.39%

1.46%

2.32%

Supplemental

data

Net

assets,

end

of

year

(000’s)

.....................

$1,047

$1,340

$1,876

$3,535

$13,050

Portfolio

turnover

rate

............................

43.31%

61.11%

56.93%

52.63%

74.03%

*

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV

from

January

1,

2021

through

April

27,

2021.

a

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV.

b

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund’s

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

c

Based

on

average

daily

shares

outstanding.

d

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Investment

Trust

Financial

Highlights

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

6

a

Year

Ended

December

31,

2024

2023

2022

2021

*

2020

a

Class

R

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$2.50

$2.27

$2.74

$2.84

$2.85

Income

from

investment

operations

b

:

Net

investment

income

c

.........................

0.11

0.08

0.06

0.05

0.07

Net

realized

and

unrealized

gains

(losses)

...........

(0.10)

0.23

(0.46)

(0.10)

(0.03)

Total

from

investment

operations

....................

0.01

0.31

(0.40)

(0.05)

0.04

Less

distributions

from:

Net

investment

income

..........................

(0.06)

—

—

—

(0.05)

Tax

return

of

capital

............................

(0.06)

(0.08)

(0.07)

(0.05)

—

Total

distributions

...............................

(0.12)

(0.08)

(0.07)

(0.05)

(0.05)

Net

asset

value,

end

of

year

.......................

$2.39

$2.50

$2.27

$2.74

$2.84

Total

return

....................................

0.21%

13.92%

(14.77)%

(1.77)%

1.68%

Ratios

to

average

net

assets

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.50%

1.57%

1.58%

1.53%

1.43%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

1.45%

1.48%

1.45%

1.44%

1.40%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.45%

1.45%

1.45%

d

1.44%

d

1.40%

d

Net

investment

income

...........................

4.54%

3.30%

2.58%

1.66%

2.63%

Supplemental

data

Net

assets,

end

of

year

(000’s)

.....................

$634

$647

$596

$1,206

$1,591

Portfolio

turnover

rate

............................

43.31%

61.11%

56.93%

52.63%

74.03%

*

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV

from

January

1,

2021

through

April

27,

2021.

a

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV.

b

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund’s

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

c

Based

on

average

daily

shares

outstanding.

d

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Investment

Trust

Financial

Highlights

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

7

a

Year

Ended

December

31,

2024

2023

2022

2021

*

2020

a

Class

R6

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$2.49

$2.27

$2.73

$2.83

$2.85

Income

from

investment

operations

b

:

Net

investment

income

c

.........................

0.13

0.09

0.07

0.06

0.08

Net

realized

and

unrealized

gains

(losses)

...........

(0.11)

0.22

(0.45)

(0.09)

(0.04)

Total

from

investment

operations

....................

0.02

0.31

(0.38)

(0.03)

0.04

Less

distributions

from:

Net

investment

income

..........................

(0.06)

—

—

—

(0.06)

Tax

return

of

capital

............................

(0.07)

(0.09)

(0.08)

(0.07)

—

Total

distributions

...............................

(0.13)

(0.09)

(0.08)

(0.07)

(0.06)

Net

asset

value,

end

of

year

.......................

$2.38

$2.49

$2.27

$2.73

$2.83

Total

return

....................................

0.79%

14.12%

(13.90)%

(1.19)%

1.87%

Ratios

to

average

net

assets

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

0.95%

1.00%

0.98%

1.01%

0.99%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

0.88%

0.92%

0.90%

0.86%

0.90%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

0.88%

0.89%

0.90%

d

0.86%

d

0.90%

d

Net

investment

income

...........................

5.15%

3.86%

3.10%

2.23%

3.18%

Supplemental

data

Net

assets,

end

of

year

(000’s)

.....................

$2,953

$3,541

$2,388

$3,227

$4,624

Portfolio

turnover

rate

............................

43.31%

61.11%

56.93%

52.63%

74.03%

*

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV

from

January

1,

2021

through

April

27,

2021.

a

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV.

b

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund’s

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

c

Based

on

average

daily

shares

outstanding.

d

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Investment

Trust

Financial

Highlights

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

8

a

Year

Ended

December

31,

2024

2023

2022

2021

*

2020

a

Advisor

Class

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$2.50

$2.27

$2.74

$2.84

$2.85

Income

from

investment

operations

b

:

Net

investment

income

c

.........................

0.13

0.09

0.07

0.06

0.08

Net

realized

and

unrealized

gains

(losses)

...........

(0.11)

0.23

(0.46)

(0.09)

(0.03)

Total

from

investment

operations

....................

0.02

0.32

(0.39)

(0.03)

0.05

Less

distributions

from:

Net

investment

income

..........................

(0.06)

—

—

—

(0.06)

Tax

return

of

capital

............................

(0.07)

(0.09)

(0.08)

(0.07)

—

Total

distributions

...............................

(0.13)

(0.09)

(0.08)

(0.07)

(0.06)

Net

asset

value,

end

of

year

.......................

$2.39

$2.50

$2.27

$2.74

$2.84

Total

return

....................................

0.70%

14.48%

(14.32)%

(1.28)%

1.75%

Ratios

to

average

net

assets

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

1.00%

1.07%

1.07%

1.05%

1.04%

Expenses

net

of

waiver

and

payments

by

affiliates

.......

0.95%

0.98%

0.95%

0.95%

1.00%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

...............................

0.95%

0.95%

0.95%

d

0.95%

d

1.00%

d

Net

investment

income

...........................

5.03%

3.77%

3.04%

2.14%

3.00%

Supplemental

data

Net

assets,

end

of

year

(000’s)

.....................

$24,152

$29,498

$32,777

$57,537

$77,426

Portfolio

turnover

rate

............................

43.31%

61.11%

56.93%

52.63%

74.03%

*

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV

from

January

1,

2021

through

April

27,

2021.

a

Includes

the

consolidated

operations

of

FT

Holdings

Corporation

IV.

b

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund’s

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

c

Based

on

average

daily

shares

outstanding.

d

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Investment

Trust

Schedule

of

Investments,

December

31,

2024

Templeton

Global

Balanced

Fund

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

9

.

a

a

Industry

Shares

a

Value

a

Common

Stocks

53.4%

China

1.9%

a

Alibaba

Group

Holding

Ltd.

.........

Broadline

Retail

278,500

$

2,947,465

Lenovo

Group

Ltd.

...............

Technology

Hardware,

Storage

&

Peripherals

2,106,000

2,707,395

5,654,860

Germany

4.7%

Deutsche

Post

AG

................

Air

Freight

&

Logistics

77,050

2,720,049

Deutsche

Telekom

AG

.............

Diversified

Telecommunication

Services

179,505

5,378,526

Infineon

Technologies

AG

..........

Semiconductors

&

Semiconductor

Equipment

56,040

1,829,244

Siemens

AG

....................

Industrial

Conglomerates

18,872

3,679,941

13,607,760

Hungary

1.0%

Richter

Gedeon

Nyrt.

.............

Pharmaceuticals

108,183

2,833,763

Japan

6.1%

Mitsubishi

Electric

Corp.

...........

Electrical

Equipment

261,700

4,419,001

SoftBank

Corp.

..................

Wireless

Telecommunication

Services

4,808,000

6,069,324

Sumitomo

Mitsui

Financial

Group,

Inc.

.

Banks

302,400

7,257,674

17,745,999

Netherlands

1.0%

SBM

Offshore

NV

................

Energy

Equipment

&

Services

163,943

2,887,041

South

Africa

0.0%

b,c,d

K2016470219

South

Africa

Ltd.,

A

....

Broadline

Retail

32,900,733

—

b,c,d

K2016470219

South

Africa

Ltd.,

B

....

Broadline

Retail

4,646,498

—

—

South

Korea

2.7%

Samsung

Electronics

Co.

Ltd.

.......

Technology

Hardware,

Storage

&

Peripherals

125,905

4,493,148

Shinhan

Financial

Group

Co.

Ltd.

....

Banks

105,179

3,410,621

7,903,769

Switzerland

0.4%

Adecco

Group

AG

................

Professional

Services

54,593

1,348,597

Taiwan

2.0%

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

......................

Semiconductors

&

Semiconductor

Equipment

181,300

5,892,259

United

Kingdom

11.0%

AstraZeneca

plc

.................

Pharmaceuticals

41,459

5,405,412

Barratt

Redrow

plc

...............

Household

Durables

705,586

3,867,942

HSBC

Holdings

plc,

ADR

..........

Banks

96,700

4,782,782

Imperial

Brands

plc

...............

Tobacco

197,565

6,317,905

Lloyds

Banking

Group

plc

..........

Banks

5,552,353

3,791,861

Standard

Chartered

plc

............

Banks

421,397

5,187,905

Unilever

plc

.....................

Personal

Care

Products

46,245

2,627,670

31,981,477

United

States

22.6%

Alphabet,

Inc.,

A

.................

Interactive

Media

&

Services

44,059

8,340,369

Bank

of

America

Corp.

............

Banks

106,730

4,690,784

BP

plc

.........................

Oil,

Gas

&

Consumable

Fuels

731,538

3,615,970

CNH

Industrial

NV

................

Machinery

358,934

4,066,722

Delta

Air

Lines,

Inc.

...............

Passenger

Airlines

58,562

3,543,001

DuPont

de

Nemours,

Inc.

..........

Chemicals

55,237

4,211,821

Templeton

Global

Investment

Trust

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

10

a

a

Industry

Shares

a

Value

a

Common

Stocks

(continued)

United

States

(continued)

Fidelity

National

Information

Services,

Inc.

.........................

Financial

Services

79,731

$

6,439,873

Medtronic

plc

...................

Health

Care

Equipment

&

Supplies

39,900

3,187,212

PNC

Financial

Services

Group,

Inc.

(The)

........................

Banks

23,500

4,531,975

Shell

plc

.......................

Oil,

Gas

&

Consumable

Fuels

141,560

4,442,605

Stanley

Black

&

Decker,

Inc.

........

Machinery

31,422

2,522,872

UnitedHealth

Group,

Inc.

...........

Health

Care

Providers

&

Services

14,184

7,175,118

Wells

Fargo

&

Co.

................

Banks

70,544

4,955,011

Zimmer

Biomet

Holdings,

Inc.

.......

Health

Care

Equipment

&

Supplies

39,586

4,181,469

65,904,802

Total

Common

Stocks

(Cost

$128,117,921)

.....................................

155,760,327

Principal

Amount

*

a

a

a

a

a

Corporate

Bonds

0.0%

South

Africa

0.0%

b,e,f,g

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note,

144A,

PIK,

3%,

12/31/22

.....................

Broadline

Retail

2,851,217

—

Senior

Secured

Note,

144A,

PIK,

8%,

12/31/22

.....................

Broadline

Retail

2,929,327

EUR

—

b

,e,f,g

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

25%,

12/31/22

.....................

Broadline

Retail

1,782,466

—

—

Total

Corporate

Bonds

(Cost

$4,389,520)

.......................................

—

a

a

Industry

Principal

Amount

*

a

Value

Foreign

Government

and

Agency

Securities

35.6%

Australia

0.7%

Treasury

Corp.

of

Victoria

,

Senior

Bond,

2.25%,

11/20/34

.....

2,110,000

AUD

1,013,039

Senior

Bond,

2%,

11/20/37

........

2,619,000

AUD

1,103,370

2,116,409

Brazil

2.3%

Brazil

Notas

do

Tesouro

Nacional

,

10%,

1/01/31

..................

14,887,000

BRL

1,927,396

10%,

1/01/33

..................

22,573,000

BRL

2,823,236

F,

10%,

1/01/29

................

14,143,000

BRL

1,933,770

6,684,402

Colombia

2.4%

Colombia

Government

Bond,

Senior

Bond,

9.85%,

6/28/27

............

83,000,000

COP

18,513

Colombia

Titulos

de

Tesoreria

,

B,

13.25%,

2/09/33

.............

3,803,300,000

COP

933,862

B,

7.25%,

10/18/34

.............

6,802,000,000

COP

1,150,626

B,

6.25%,

7/09/36

..............

2,213,000,000

COP

325,201

B,

9.25%,

5/28/42

..............

25,330,000,000

COP

4,451,534

6,879,736

Templeton

Global

Investment

Trust

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

11

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Dominican

Republic

1.6%

g

Dominican

Republic

Government

Bond

,

Senior

Bond,

144A,

5.3%,

1/21/41

..

2,030,000

$

1,729,560

Senior

Bond,

144A,

6.4%,

6/05/49

..

760,000

716,490

Senior

Bond,

144A,

5.875%,

1/30/60

2,634,000

2,234,291

4,680,341

Ecuador

1.4%

g

Ecuador

Government

Bond

,

Senior

Bond,

144A,

5.5%,

7/31/35

..

6,135,000

3,499,731

Senior

Note,

144A,

6.9%,

7/31/30

..

962,147

672,432

4,172,163

Egypt

1.1%

Egypt

Government

Bond

,

25.151%,

4/16/27

...............

101,600,000

EGP

1,986,314

g

Senior

Bond,

144A,

8.75%,

9/30/51

.

1,030,000

814,762

g

Senior

Bond,

144A,

7.5%,

2/16/61

..

510,000

350,821

3,151,897

El

Salvador

0.0%

†

g

El

Salvador

Government

Bond,

Senior

Bond,

144A,

7.65%,

6/15/35

.......

25,000

24,264

Gabon

2.1%

g

Gabon

Government

Bond

,

Senior

Bond,

144A,

6.95%,

6/16/25

.

2,730,000

2,641,932

Senior

Bond,

144A,

6.625%,

2/06/31

2,520,000

1,881,170

Senior

Bond,

144A,

7%,

11/24/31

...

2,160,000

1,611,471

6,134,573

Ghana

0.6%

e

Ghana

Government

Bond

,

PIK,

8.35%,

2/16/27

.............

5,137,226

GHS

256,462

PIK,

8.5%,

2/15/28

..............

5,362,851

GHS

233,471

PIK,

8.65%,

2/13/29

.............

5,327,580

GHS

206,365

PIK,

8.8%,

2/12/30

..............

5,369,150

GHS

187,735

PIK,

8.95%,

2/11/31

.............

4,218,816

GHS

136,073

PIK,

9.1%,

2/10/32

..............

4,842,167

GHS

146,938

PIK,

9.25%,

2/08/33

.............

4,626,535

GHS

131,388

PIK,

9.4%,

2/07/34

..............

3,929,587

GHS

107,759

PIK,

9.55%,

2/06/35

.............

3,487,681

GHS

93,344

PIK,

9.7%,

2/05/36

..............

3,558,790

GHS

93,761

PIK,

9.85%,

2/03/37

.............

2,677,913

GHS

69,928

PIK,

10%,

2/02/38

..............

3,580,051

GHS

93,140

1,756,364

Hungary

0.5%

g

Hungary

Government

Bond

,

Senior

Bond,

Reg

S,

5.375%,

9/12/33

830,000

EUR

930,621

Senior

Bond,

Reg

S,

1.75%,

6/05/35

440,000

EUR

361,395

Senior

Bond,

Reg

S,

1.5%,

11/17/50

280,000

EUR

168,718

1,460,734

Templeton

Global

Investment

Trust

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

12

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

India

5.4%

India

Government

Bond

,

Senior

Bond,

7.26%,

8/22/32

......

664,300,000

INR

$

7,985,063

Senior

Bond,

7.18%,

8/14/33

......

221,200,000

INR

2,643,507

Senior

Note,

7.1%,

4/18/29

.......

426,000,000

INR

5,043,005

15,671,575

Ivory

Coast

0.5%

g

Cote

d'Ivoire

Government

Bond,

Senior

Bond,

144A,

6.625%,

3/22/48

......

650,000

EUR

544,500

g

Ivory

Coast

Government

Bond

,

144A,

4.875%,

1/30/32

...........

340,000

EUR

310,578

Senior

Bond,

144A,

4.875%,

1/30/32

600,000

EUR

548,078

1,403,156

Kazakhstan

3.5%

Kazakhstan

MEOKAM

,

10.67%,

1/21/26

................

159,600,000

KZT

302,654

15.35%,

11/18/27

...............

27,100,000

KZT

56,554

Kazakhstan

MEUKAM

,

9%,

7/03/27

...................

365,400,000

KZT

666,016

10.4%,

4/12/28

................

225,400,000

KZT

420,718

15.3%,

3/03/29

................

833,280,000

KZT

1,791,912

10.55%,

7/28/29

................

54,200,000

KZT

98,008

11%,

2/04/30

..................

127,900,000

KZT

241,415

12%,

3/07/30

..................

265,690,000

KZT

517,880

12%,

2/22/31

..................

354,290,000

KZT

692,057

10.3%,

3/17/31

................

1,747,020,000

KZT

3,174,095

14%,

5/12/31

..................

215,190,000

KZT

458,120

Senior

Bond,

5%,

4/18/28

........

207,450,000

KZT

326,001

Senior

Bond,

5.5%,

9/20/28

.......

388,700,000

KZT

619,126

Senior

Bond,

7.68%,

8/13/29

......

564,500,000

KZT

944,511

10,309,067

Kenya

2.2%

g

Kenya

Government

Bond,

Senior

Note,

144A,

9.75%,

2/16/31

............

6,490,000

6,427,777

Mexico

2.3%

Petroleos

Mexicanos

,

g

Senior

Bond,

Reg

S,

4.875%,

2/21/28

1,920,000

EUR

1,886,238

g

Senior

Bond,

Reg

S,

4.75%,

2/26/29

1,030,000

EUR

984,311

Senior

Note,

6.84%,

1/23/30

......

4,240,000

3,876,411

6,746,960

Mongolia

0.3%

g

Mongolia

Government

Bond,

Senior

Bond,

144A,

4.45%,

7/07/31

.......

850,000

738,924

Panama

1.4%

Panama

Government

Bond

,

Senior

Bond,

6.4%,

2/14/35

.......

590,000

537,105

Senior

Bond,

6.7%,

1/26/36

.......

2,650,000

2,465,088

Senior

Bond,

6.875%,

1/31/36

.....

1,150,000

1,082,214

4,084,407

Templeton

Global

Investment

Trust

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

13

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Rwanda

0.9%

g

Rwanda

Government

Bond,

Senior

Bond,

144A,

5.5%,

8/09/31

........

3,169,000

$

2,674,794

South

Africa

2.5%

South

Africa

Government

Bond

,

Senior

Bond,

8.875%,

2/28/35

.....

88,070,000

ZAR

4,251,796

Senior

Bond,

8.5%,

1/31/37

.......

25,320,000

ZAR

1,139,666

Senior

Bond,

9%,

1/31/40

........

40,170,000

ZAR

1,813,214

7,204,676

Sri

Lanka

0.4%

g

Sri

Lanka

Government

Bond

,

Senior

Bond,

144A,

3.6%,

6/15/35

..

246,960

179,046

Senior

Bond,

144A,

3.6%,

5/15/36

..

171,396

130,689

Senior

Bond,

144A,

3.6%,

2/15/38

..

342,936

262,792

Senior

Note,

144A,

4%,

4/15/28

....

243,608

228,699

Senior

Note,

144A,

3.1%,

1/15/30

..

186,462

154,764

Senior

Note,

144A,

3.35%,

3/15/33

..

365,742

278,439

1,234,429

Supranational

1.4%

h

Asian

Development

Bank,

Senior

Note,

11.2%,

1/31/25

.................

17,931,000,000

COP

4,069,289

Uruguay

2.1%

i

Uruguay

Government

Bond

,

Index

Linked,

Senior

Bond,

3.7%,

6/26/37

......................

49,991,931

UYU

1,175,924

Index

Linked,

Senior

Bond,

3.875%,

7/02/40

......................

208,331,164

UYU

4,996,799

6,172,723

Total

Foreign

Government

and

Agency

Securities

(Cost

$112,155,760)

.............

103,798,660

U.S.

Government

and

Agency

Securities

1.3%

United

States

1.3%

U.S.

Treasury

Bonds

,

3.375%,

8/15/42

................

3,020,000

2,493,927

3.75%,

11/15/43

................

1,550,000

1,335,124

3,829,051

Total

U.S.

Government

and

Agency

Securities

(Cost

$4,215,388)

..................

3,829,051

Shares

Escrows

and

Litigation

Trusts

0.0%

b,c

K2016470219

South

Africa

Ltd.,

Escrow

Account

......................

168,113

—

Total

Escrows

and

Litigation

Trusts

(Cost

$–)

...................................

—

Total

Long

Term

Investments

(Cost

$248,878,589)

...............................

263,388,038

Templeton

Global

Investment

Trust

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

14

Short

Term

Investments

6.9%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

4.8%

Egypt

4.8%

j

Egypt

Treasury

Bills

,

25.06%,

3/04/25

................

316,200,000

EGP

$

5,958,228

25.69%,

3/18/25

................

432,175,000

EGP

8,057,951

14,016,179

Total

Foreign

Government

and

Agency

Securities

(Cost

$14,857,242)

..............

14,016,179

Shares

Money

Market

Funds

2.1%

United

States

2.1%

k,l

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.183%

.........

5,983,330

5,983,330

Total

Money

Market

Funds

(Cost

$5,983,330)

...................................

5,983,330

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$20,840,572

)

................................

19,999,509

a

a

a

Total

Investments

(Cost

$269,719,161)

97.2%

...................................

$283,387,547

Other

Assets,

less

Liabilities

2.8%

.............................................

8,314,880

Net

Assets

100.0%

...........................................................

$291,702,427

a

a

a

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Variable

interest

entity

(VIE).

See

Note

7

regarding

investments

made

through

a

VIE

structure.

At

December

31,

2024,

the

value

of

this

security

was

$2,947,465,

represent-

ing

1.0%

of

net

assets.

b

Fair

valued

using

significant

unobservable

inputs.

See

Note

11

regarding

fair

value

measurements.

c

Non-income

producing.

d

See

Note

8

regarding

restricted

securities.

e

Income

may

be

received

in

additional

securities

and/or

cash.

f

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

See

Note

6.

g

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

December

31,

2024,

the

aggregate

value

of

these

securities

was

$32,987,287,

representing

11.3%

of

net

assets.

h

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

i

Principal

amount

of

security,

redemption

price

at

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

See

Note

1(f).

j

The

rate

shown

represents

the

yield

at

period

end.

k

See

Note

3(f)

regarding

investments

in

affiliated

management

investment

companies.

l

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Global

Investment

Trust

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

15

At

December

31,

2024,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

1

(

c

). 

Forward

Exchange

Contracts

Currency

Counter-

party

a

Type

Quantity

Contract

Amount

*

Settlement

Date

Unrealized

Appreciation

Unrealized

Depreciation

a

a

a

a

a

a

a

a

OTC

Forward

Exchange

Contracts

Japanese

Yen

......

BNDP

Buy

239,887,530

1,552,575

1/17/25

$

—

$

(25,384)

Japanese

Yen

......

BOFA

Buy

1,149,710,460

7,439,830

1/17/25

—

(120,452)

Japanese

Yen

......

DBAB

Buy

1,185,818,260

7,690,408

1/17/25

—

(141,157)

Chilean

Peso

......

HSBK

Buy

981,900,000

1,001,019

1/27/25

—

(13,948)

Chilean

Peso

......

HSBK

Buy

798,100,000

819,287

1/31/25

—

(17,021)

Chilean

Peso

......

JPHQ

Buy

902,400,000

926,156

1/31/25

—

(19,045)

Brazilian

Real

......

JPHQ

Buy

41,631,946

7,148,527

2/04/25

—

(450,946)

Malaysian

Ringgit

...

GSCO

Buy

40,100,000

9,662,651

2/04/25

—

(716,057)

Euro

.............

DBAB

Sell

1,309,906

15,490,000

NOK

2/12/25

1,512

—

Norwegian

Krone

...

DBAB

Buy

40,861,000

3,767,067

2/12/25

—

(177,881)

Norwegian

Krone

...

DBAB

Sell

15,490,000

1,364,013

2/12/25

3,388

—

Japanese

Yen

......

JPHQ

Buy

251,863,750

1,653,593

2/14/25

—

(44,876)

Chinese

Yuan

......

CITI

Sell

13,895,094

1,925,161

2/21/25

29,832

—

Chinese

Yuan

......

DBAB

Sell

13,884,554

1,925,162

2/21/25

31,269

—

Chinese

Yuan

......

JPHQ

Sell

11,046,180

1,530,503

2/24/25

23,643

—

Mexican

Peso

......

BNDP

Buy

35,665,397

1,713,299

2/24/25

—

(17,704)

Mexican

Peso

......

HSBK

Buy

74,697,515

3,606,435

2/24/25

—

(55,186)

Euro

.............

HSBK

Buy

3,970,000

4,428,747

3/03/25

—

(306,277)

Euro

.............

HSBK

Sell

3,970,000

4,238,914

3/03/25

116,443

—

Mexican

Peso

......

BNDP

Buy

12,961,169

627,038

3/10/25

—

(12,189)

Mexican

Peso

......

HSBK

Buy

40,807,000

2,009,010

3/10/25

—

(73,214)

Chilean

Peso

......

JPHQ

Buy

1,185,600,000

1,220,821

3/12/25

—

(29,646)

Chinese

Yuan

......

HSBK

Sell

23,329,346

3,233,684

3/19/25

48,635

—

Malaysian

Ringgit

...

GSCO

Buy

37,580,000

8,475,417

3/19/25

—

(77,462)

South

Korean

Won

..

DBAB

Buy

12,349,810,000

8,650,447

3/19/25

—

(267,741)

South

Korean

Won

..

HSBK

Buy

7,746,000,000

5,423,990

3/19/25

—

(166,222)

Mexican

Peso

......

CITI

Buy

132,090,000

6,359,041

3/24/25

—

(108,048)

Australian

Dollar

....

DBAB

Buy

2,688,000

1,745,004

3/25/25

—

(81,057)

Australian

Dollar

....

JPHQ

Buy

4,277,000

2,777,869

3/25/25

—

(130,286)

Japanese

Yen

......

HSBK

Buy

88,900,000

618,858

4/07/25

—

(47,607)

Japanese

Yen

......

MSCO

Buy

79,300,000

552,710

4/07/25

—

(43,145)

Norwegian

Krone

...

MSCO

Buy

18,480,000

1,736,065

4/10/25

—

(113,021)

Chinese

Yuan

......

DBAB

Sell

25,178,838

3,503,157

5/20/25

54,115

—

Chinese

Yuan

......

CITI

Sell

13,826,173

1,925,161

5/22/25

31,006

—

Hungarian

Forint

....

BNDP

Buy

3,021,200,000

7,668,994

5/27/25

—

(120,553)

Australian

Dollar

....

MSCO

Buy

6,160,000

3,940,182

6/12/25

—

(125,325)

Chinese

Yuan

......

HSBK

Sell

44,700,000

6,168,214

6/27/25

31,500

—

Chinese

Yuan

......

MSCO

Sell

48,270,000

6,661,441

6/27/25

34,613

—

Total

Forward

Exchange

Contracts

...................................................

$405,956

$(3,501,450)

Net

unrealized

appreciation

(depreciation)

............................................

$(3,095,494)

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Global

Investment

Trust

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

16

At

December

31,

2024,

the

Fund

had

the

following

interest

rate

swap

contracts

outstanding.

See

Note

1

(

c

). 

Interest

Rate

Swap

Contracts

Description

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

*

Value

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

aa

aa

aa

aa

Centrally

Cleared

Swap

Contracts

Receive

Fixed

11.38%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/04/27

14,954,986

BRL

$

(192,462)

$

—

$

(192,462)

Receive

Fixed

11.5%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/04/27

15,606,306

BRL

(194,397)

—

(194,397)

Receive

Fixed

11.342%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

6,749,967

BRL

(167,497)

—

(167,497)

Receive

Fixed

8.87%

..

Monthly

Pay

Floating

1-day

TIIEOIS

..........

Monthly

11/14/31

153,090,000

MXN

(145,886)

—

(145,886)

Total

Interest

Rate

Swap

Contracts

....................................

$(700,242)

$

—

$(700,242)

*

In

U.S.

dollars

unless

otherwise

indicated.

See

Note 

9

 regarding

other

derivative

information.

See

Abbreviations

on

page

37

.

Templeton

Global

Investment

Trust

Financial

Statements

Statement

of

Assets

and

Liabilities

December

31,

2024

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

17

Templeton

Global

Balanced

Fund

Assets:

Investments

in

securities:

Cost

-

Unaffiliated

issuers

...................................................................

$263,735,831

Cost

-

Non-controlled

affiliates

(Note

3

f

)

........................................................

5,983,330

Value

-

Unaffiliated

issuers

..................................................................

$277,404,217

Value

-

Non-controlled

affiliates

(Note

3

f

)

........................................................

5,983,330

Cash

....................................................................................

48,164

Receivables:

Capital

shares

sold

........................................................................

38,135

Dividends

and

interest

.....................................................................

4,842,447

European

Union

tax

reclaims

(Note

1

e

)

.........................................................

6,616,271

Deposits

with

brokers

for:

OTC

derivative

contracts

..................................................................

2,850,000

Centrally

cleared

swap

contracts

............................................................

547,726

Variation

margin

on

centrally

cleared

swap

contracts

...............................................

11,079

Unrealized

appreciation

on

OTC

forward

exchange

contracts

..........................................

405,956

Deferred

tax

benefit

.........................................................................

111,553

Other

assets

..............................................................................

342,615

Total

assets

..........................................................................

299,201,493

Liabilities:

Payables:

Capital

shares

redeemed

...................................................................

235,820

Management

fees

.........................................................................

162,047

Distribution

fees

..........................................................................

64,920

Transfer

agent

fees

........................................................................

93,779

Trustees'

fees

and

expenses

.................................................................

78

IRS

closing

agreement

payments

for

European

Union

tax

reclaims

(Note

1

e

)

.............................

2,729,947

Unrealized

depreciation

on

OTC

forward

exchange

contracts

..........................................

3,501,450

Deferred

taxes

on

unrealized

appreciation

........................................................

430,673

Accrued

expenses

and

other

liabilities

...........................................................

280,352

Total

liabilities

.........................................................................

7,499,066

Net

assets,

at

value

.................................................................

$291,702,427

Net

assets

consist

of:

Paid-in

capital

.............................................................................

$434,570,048

Total

distributable

earnings

(losses)

.............................................................

(142,867,621)

Net

assets,

at

value

.................................................................

$291,702,427

Templeton

Global

Investment

Trust

Financial

Statements

Statement

of

Assets

and

Liabilities

(continued)

December

31,

2024

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

18

Templeton

Global

Balanced

Fund

Class

A:

Net

assets,

at

value

.......................................................................

$169,355,929

Shares

outstanding

........................................................................

71,310,775

Net

asset

value

per

share

a

,b

..................................................................

$2.37

Maximum

offering

price

per

share

(net

asset

value

per

share

÷

94

.50

%

)

b

................................

$2.51

Class

A1:

Net

assets,

at

value

.......................................................................

$83,608,892

Shares

outstanding

........................................................................

35,140,476

Net

asset

value

per

share

a

,b

..................................................................

$2.38

Maximum

offering

price

per

share

(net

asset

value

per

share

÷

96

.25

%

)

b

................................

$2.47

Class

C:

Net

assets,

at

value

.......................................................................

$9,950,803

Shares

outstanding

........................................................................

4,198,670

Net

asset

value

and

maximum

offering

price

per

share

a

,b

............................................

$2.37

Class

C1:

Net

assets,

at

value

.......................................................................

$1,046,961

Shares

outstanding

........................................................................

438,871

Net

asset

value

and

maximum

offering

price

per

share

a

,b

............................................

$2.39

Class

R:

Net

assets,

at

value

.......................................................................

$634,319

Shares

outstanding

........................................................................

265,838

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$2.39

Class

R6:

Net

assets,

at

value

.......................................................................

$2,953,462

Shares

outstanding

........................................................................

1,241,636

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$2.38

Advisor

Class:

Net

assets,

at

value

.......................................................................

$24,152,061

Shares

outstanding

........................................................................

10,112,851

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$2.39

a

Redemption

price

is

equal

to

net

asset

value

less

contingent

deferred

sales

charges,

if

applicable.

b

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Templeton

Global

Investment

Trust

Financial

Statements

Statement

of

Operations

for

the

year

ended

December

31,

2024

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

19

Templeton

Global

Balanced

Fund

Investment

income:

Dividends:

(net

of

foreign

taxes

of

$610,708)

Unaffiliated

issuers

........................................................................

$4,667,808

Non-controlled

affiliates

(Note

3

f

)

.............................................................

579,964

Interest:

(net

of

foreign

taxes

of

$458,884)

Unaffiliated

issuers

........................................................................

14,167,751

Income

from

securities

loaned:

Unaffiliated

entities

(net

of

fees

and

rebates)

.....................................................

(40,879)

Non-controlled

affiliates

(Note

3

f

)

.............................................................

46,555

Other

income

(Note

1

e

)

......................................................................

260,474

Total

investment

income

...................................................................

19,681,673

Expenses:

Management

fees

(Note

3

a

)

...................................................................

2,387,863

Distribution

fees:

(Note

3c

)

Class

A

................................................................................

475,924

Class

A1

...............................................................................

237,131

Class

C

................................................................................

114,773

Class

C1

...............................................................................

7,524

Class

R

................................................................................

3,235

Transfer

agent

fees:

(Note

3e

)

Class

A

................................................................................

255,409

Class

A1

...............................................................................

127,383

Class

C

................................................................................

15,461

Class

C1

...............................................................................

1,555

Class

R

................................................................................

860

Class

R6

...............................................................................

2,929

Advisor

Class

............................................................................

36,848

Custodian

fees

............................................................................

57,208

Reports

to

shareholders

fees

..................................................................

16,196

Registration

and

filing

fees

....................................................................

134,409

Professional

fees

...........................................................................

209,922

Trustees'

fees

and

expenses

..................................................................

41,205

Other

....................................................................................

1,081

Total

expenses

.........................................................................

4,126,916

Expenses

waived/paid

by

affiliates

(Note

3

f

and

3

g

)

..............................................

(161,532)

Net

expenses

.........................................................................

3,965,384

Net

investment

income

................................................................

15,716,289

Templeton

Global

Investment

Trust

Financial

Statements

Statement

of

Operations

(continued)

for

the

year

ended

December

31,

2024

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

20

Templeton

Global

Balanced

Fund

Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

(net

of

foreign

taxes

of

$3,286)

Unaffiliated

issuers

......................................................................

(4,674,445)

Written

options

...........................................................................

100,227

Foreign

currency

transactions

................................................................

(487,620)

Forward

exchange

contracts

.................................................................

(4,647,701)

Swap

contracts

...........................................................................

533

Net

realized

gain

(loss)

..................................................................

(9,709,006)

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

......................................................................

3,589,285

Translation

of

other

assets

and

liabilities

denominated

in

foreign

currencies

..............................

(548,103)

Written

options

...........................................................................

27,970

Forward

exchange

contracts

.................................................................

(5,567,108)

Swap

contracts

...........................................................................

(700,242)

Change

in

deferred

taxes

on

unrealized

appreciation

...............................................

(521,006)

Net

change

in

unrealized

appreciation

(depreciation)

............................................

(3,719,204)

Net

realized

and

unrealized

gain

(loss)

............................................................

(13,428,210)

Net

increase

(decrease)

in

net

assets

resulting

from

operations

..........................................

$2,288,079

Templeton

Global

Investment

Trust

Financial

Statements

Statements

of

Changes

in

Net

Assets

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

21

Templeton

Global

Balanced

Fund

Year

Ended

December

31,

2024

Year

Ended

December

31,

2023

Increase

(decrease)

in

net

assets:

Operations:

Net

investment

income

.................................................

$15,716,289

$12,931,535

Net

realized

gain

(loss)

.................................................

(9,709,006)

(17,452,966)

Net

change

in

unrealized

appreciation

(depreciation)

...........................

(3,719,204)

51,919,818

Net

increase

(decrease)

in

net

assets

resulting

from

operations

................

2,288,079

47,398,387

Distributions

to

shareholders:

Class

A

.............................................................

(4,237,679)

—

Class

A1

............................................................

(2,105,023)

—

Class

C

.............................................................

(212,796)

—

Class

C1

............................................................

(23,425)

—

Class

R

.............................................................

(13,918)

—

Class

R6

............................................................

(82,913)

—

Advisor

Class

........................................................

(642,219)

—

Distributions

to

shareholders

from

tax

return

of

capital:

Class

A

.............................................................

(4,989,083)

(7,527,254)

Class

A1

............................................................

(2,478,274)

(3,823,929)

Class

C

.............................................................

(250,528)

(427,162)

Class

C1

............................................................

(27,579)

(45,892)

Class

R

.............................................................

(16,386)

(21,299)

Class

R6

............................................................

(97,614)

(106,261)

Advisor

Class

........................................................

(756,095)

(1,175,180)

Total

distributions

to

shareholders

..........................................

(15,933,532)

(13,126,977)

Capital

share

transactions:

(Note

2

)

Class

A

.............................................................

(29,474,893)

(23,493,866)

Class

A1

............................................................

(16,791,886)

(14,166,626)

Class

C

.............................................................

(2,829,676)

(7,142,001)

Class

C1

............................................................

(240,906)

(689,186)

Class

R

.............................................................

16,097

(6,461)

Class

R6

............................................................

(432,082)

831,066

Advisor

Class

........................................................

(4,226,008)

(6,160,499)

Total

capital

share

transactions

............................................

(53,979,354)

(50,827,573)

Net

increase

(decrease)

in

net

assets

...................................

(67,624,807)

(16,556,163)

Net

assets:

Beginning

of

year

.......................................................

359,327,234

375,883,397

End

of

year

...........................................................

$291,702,427

$359,327,234

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

Templeton

Global

Balanced

Fund

22

franklintempleton.com

Annual

Report

1.

Organization

and

Significant

Accounting

Policies

Templeton

Global

Investment

Trust (Trust)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

an

open-end

management

investment

company,

consisting

of three separate

funds.

The

Trust

follows

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946.

Templeton

Global

Balanced

Fund

(Fund)

is

included

in

this

report.

The

Fund

offers

seven classes

of

shares:

Class

A,

Class

A1,

Class

C,

Class

C1,

Class

R,

Class

R6

and

Advisor

Class. Class

C

and

Class

C1

shares

automatically

convert

to

Class

A

shares

on

a

monthly

basis,

after

they

have

been

held

for

8

years.

Each

class

of

shares

may

differ

by

its

initial

sales

load,

contingent

deferred

sales

charges,

voting

rights

on

matters

affecting

a

single

class,

its

exchange

privilege

and

fees

due

to

differing

arrangements

for

distribution

and

transfer

agent

fees. 

The

following

summarizes

the Fund's

significant

accounting

policies.

a.

Financial

Instrument

Valuation

The

Fund's

investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The

Fund

calculates

the

net

asset

value

(NAV)

per

share

each business

day as

of

4

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier.

Under

compliance

policies

and

procedures

approved

by

the Trust's

Board

of

Trustees

(the

Board),

the

Board

has

designated

the

Fund’s

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Fund’s

administrator

in

performing

this

responsibility,

including

leading

the

cross-

functional

Valuation

Committee

(VC).

The

Fund

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value. 

Equity

securities

listed

on

an

exchange

or

on

the

NASDAQ

National

Market

System

are

valued

at

the

last

quoted

sale

price

or

the

official

closing

price of

the

day,

respectively.

Foreign

equity

securities

are

valued

as

of

the

close

of

trading

on

the

foreign

stock

exchange

on

which

the

security

is

primarily

traded,

or

as

of

4

p.m.

Eastern

time.

The

value

is

then

converted

into

its

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

4

p.m.

Eastern

time

on

the

day

that

the

value

of

the

security

is

determined.

Over-the-counter

(OTC)

securities

are

valued

within

the

range

of

the

most

recent

quoted

bid

and

ask

prices.

Securities

that

trade

in

multiple

markets

or

on

multiple

exchanges

are

valued

according

to

the

broadest

and

most

representative

market.

Certain

equity

securities

are

valued

based

upon

fundamental

characteristics

or

relationships

to

similar

securities. 

Debt

securities

generally

trade

in

the OTC

market

rather

than

on

a

securities

exchange.

The

Fund's

pricing

services

use

multiple

valuation

techniques

to

determine

fair

value.

In

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

a

market-based

approach

through

which

quotes

from

market

makers

are

used

to

determine

fair

value.

In

instances

where

sufficient

market

activity

may

not

exist

or

is

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

as

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

of

principal

repayments,

underlying

collateral,

and

other

unique

security

features

in

order

to

estimate

the

relevant

cash

flows,

which

are

then

discounted

to

calculate

the

fair

value.

Securities

denominated

in

a

foreign

currency

are

converted

into

their

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

4

p.m.

Eastern

time

on

the

date

that

the

values

of

the

foreign

debt

securities

are

determined.

Investments

in open-end mutual

funds

are

valued

at

the

closing

NAV.

Certain

derivative

financial

instruments

are

centrally

cleared

or

trade

in

the

OTC

market.

The

Fund's

pricing

services

use

various

techniques

including

industry

standard

option

pricing

models

and

proprietary

discounted

cash

flow

models

to

determine

the

fair

value

of

those

instruments.

The

Fund's

net

benefit

or

obligation

under

the

derivative

contract,

as

measured

by

the

fair

value

of

the

contract,

is

included

in

net

assets.

The

Fund

has

procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the Fund

primarily

employs

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

23

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

to

determine

the

fair

value

of

the

investment.

An

income-based

valuation

approach

may

also

be

used

in

which

the

anticipated

future

cash

flows

of

the

investment

are

discounted

to

calculate

fair

value.

Discounts

may

also

be

applied

due

to

the

nature

or

duration

of

any

restrictions

on

the

disposition

of

the

investments.

Due

to

the

inherent

uncertainty

of

valuations

of

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

an

active

market

existed.

Trading

in

securities

on

foreign

securities

stock

exchanges

and

OTC

markets

may

be

completed

before

4

p.m.

Eastern

time.

In

addition,

trading

in

certain

foreign

markets

may

not

take

place

on

every

Fund's

business

day. Events

can occur

between

the

time

at

which

trading

in

a

foreign

security

is

completed

and

4

p.m.

Eastern

time

that

might

call

into

question

the

reliability

of

the

value

of

a

portfolio

security

held

by

the

Fund.

As

a

result,

differences

may

arise

between

the

value

of

the

Fund's

portfolio

securities

as

determined

at

the

foreign

market

close

and

the

latest

indications

of

value

at

4

p.m.

Eastern

time. In

order

to

minimize

the

potential

for

these

differences,

an

independent

pricing

service

may

be

used

to

adjust

the

value

of

the

Fund's

portfolio

securities

to

the

latest

indications

of

fair

value

at

4

p.m.

Eastern

time.

At

December

31,

2024,

certain

securities

may

have

been

fair

valued

using

these

procedures,

in

which

case

the

securities

were

categorized

as

Level

2

within

the

fair

value

hierarchy

(referred

to

as

“market

level

fair

value”).

See

the

Fair

Value

Measurements

note

for

more

information.

When

the

last

day

of

the

reporting

period

is

a

non-business

day,

certain

foreign

markets

may

be

open

on

those

days

that

the

Fund's

NAV

is

not

calculated,

which

could

result

in

differences

between

the

value

of

the

Fund's

portfolio

securities

on

the

last

business

day

and

the

last

calendar

day

of

the

reporting

period.

Any

security

valuation

changes

due

to

an

open

foreign

market

are

adjusted

and

reflected

by

the

Fund

for

financial

reporting

purposes.

b.

Foreign

Currency

Translation 

Portfolio

securities

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

based

on

the

exchange

rate

of

such

currencies

against

U.S.

dollars

on

the

date

of

valuation.

The

Fund

may

enter

into

foreign

currency

exchange

contracts

to

facilitate

transactions

denominated

in

a

foreign

currency.

Purchases

and

sales

of

securities,

income

and

expense

items

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

in

effect

on

the

transaction

date.

Portfolio

securities

and

assets

and

liabilities

denominated

in

foreign

currencies

contain

risks

that

those

currencies

will

decline

in

value

relative

to

the

U.S.

dollar.

Occasionally,

events

may

impact

the

availability

or

reliability

of

foreign

exchange

rates

used

to

convert

the

U.S.

dollar

equivalent

value.

If

such

an

event

occurs,

the

foreign

exchange

rate

will

be

valued

at

fair

value

using

procedures

established

and

approved

by

the

Board.

The

Fund

does

not

separately

report

the

effect

of

changes

in

foreign

exchange

rates

from

changes

in

market

prices

on

securities

held.

Such

changes

are

included

in

net

realized

and

unrealized

gain

or

loss

from

investments

in

the

Statement of

Operations.

Realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

between

the

trade

and

settlement

dates

on

securities

transactions

and

the

difference

between

the

recorded

amounts

of

dividends,

interest,

and

foreign

withholding

taxes

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

foreign

exchange

rates

on

foreign

denominated

assets

and

liabilities

other

than

investments

in

securities

held

at

the

end

of

the

reporting

period.

c.

Derivative

Financial

Instruments

The

Fund invested

in

derivative

financial

instruments

in

order

to

manage

risk

or

gain

exposure

to

various

other

investments

or

markets.

Derivatives

are

financial

contracts

based

on

an

underlying

or

notional

amount,

require

no

initial

investment

or

an

initial

net

investment

that

is

smaller

than

would

normally

be

required

to

have

a

similar

response

to

changes

in

market

factors,

and

require

or

permit

net

settlement.

Derivatives

contain

various

risks

including

the

potential

inability

of

the

counterparty

to

fulfill

their

obligations

under

the

terms

of

the

contract,

the

potential

for

an

illiquid

secondary

market,

and/or

the

potential

for

market

movements

which

expose

the

Fund

to

gains

or

losses

in

excess

of

the

amounts

shown

in

the

Statement

of

Assets

and

Liabilities.

Realized

gain

and

loss

and

unrealized

appreciation

and

depreciation

on

these

contracts

for

the

period

are

included

in

the

Statement

of

Operations.

1.

Organization

and

Significant

Accounting

Policies

(continued)

a.

Financial

Instrument

Valuation

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

24

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

Derivative

counterparty

credit

risk

is

managed

through

a

formal

evaluation

of

the

creditworthiness

of

all

potential

counterparties.

The

Fund

attempts

to

reduce

its

exposure

to

counterparty

credit

risk

on

OTC

derivatives,

whenever

possible,

by

entering

into

International

Swaps

and

Derivatives

Association

(ISDA)

master

agreements

with

certain

counterparties.

These

agreements

contain

various

provisions,

including

but

not

limited

to

collateral

requirements,

events

of

default,

or

early

termination.

Termination

events

applicable

to

the

counterparty

include

certain

deteriorations

in

the

credit

quality

of

the

counterparty.

Termination

events

applicable

to

the

Fund

include

failure

of

the

Fund

to

maintain

certain

net

asset

levels

and/or

limit

the

decline

in

net

assets

over

various

periods

of

time.

In

the

event

of

default

or

early

termination,

the

ISDA

master

agreement

gives

the

non-defaulting

party

the

right

to

net

and

close-out

all

transactions

traded,

whether

or

not

arising

under

the

ISDA

agreement,

to

one

net

amount

payable

by

one

counterparty

to

the

other.

However,

absent

an

event

of

default

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

in

the

Statement

of

Assets

and

Liabilities.

Early

termination

by

the

counterparty

may

result

in

an

immediate

payment

by

the

Fund

of

any

net

liability

owed

to

that

counterparty

under

the

ISDA

agreement.

Collateral

requirements

differ

by

type

of

derivative.

Collateral

or

initial

margin

requirements

are

set

by

the

broker

or

exchange

clearing

house

for

exchange

traded

and

centrally

cleared

derivatives.

Initial

margin

deposited

is

held

at

the

exchange

and

can

be

in

the

form

of

cash

and/or

securities.

For

OTC

derivatives

traded

under

an

ISDA

master

agreement,

posting

of

collateral

is

required

by

either

the

Fund

or

the

applicable

counterparty

if

the

total

net

exposure

of

all

OTC

derivatives

with

the

applicable

counterparty

exceeds

the

minimum

transfer

amount,

which

typically

ranges

from

$100,000

to

$250,000,

and

can

vary

depending

on

the

counterparty

and

the

type

of agreement.

Generally,

collateral

is

determined

at

the

close

of

Fund

business

each

day

and

any

additional

collateral

required

due

to

changes

in

derivative

values

may

be

delivered

by

the

Fund

or

the

counterparty

the

next

business

day,

or

within

a

few

business

days.

Collateral

pledged

and/or

received

by

the

Fund

for

OTC

derivatives,

if

any,

is

held

in

segregated

accounts

with

the

Fund's

custodian/counterparty

broker

and

can

be

in

the

form

of

cash

and/or

securities.

Unrestricted

cash

may

be

invested

according

to

the

Fund's

investment

objectives.

To

the

extent

that

the

amounts

due

to

the

Fund

from

its

counterparties

are

not

subject

to

collateralization

or

are

not

fully

collateralized,

the

Fund

bears

the

risk

of

loss

from

counterparty

non-performance.

The

Fund entered

into

OTC

forward

exchange

contracts

primarily

to

manage

and/or

gain exposure

to

certain

foreign

currencies.

A

forward

exchange

contract

is

an

agreement

between

the

Fund

and

a

counterparty

to

buy

or

sell

a

foreign

currency at

a

specific

exchange

rate

on

a

future

date.

Forward

exchange

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund entered

into

interest

rate

swap

contracts

primarily

to

manage

interest

rate

risk.

An

interest

rate

swap

is

an

agreement

between

the

Fund

and

a

counterparty

to

exchange

cash

flows

based

on

the

difference

between

two

interest

rates,

applied

to

a

notional

amount.

These

agreements

may

be

privately

negotiated

in

the

over-the-

counter

market

(OTC

interest

rate

swaps)

or

may

be

executed

on

a

registered

exchange

(centrally

cleared

interest

rate

swaps).

For

centrally

cleared

interest

rate

swaps,

required

initial

margins

are

pledged

by

the

Fund,

and

the

daily

change

in

fair

value

is

accounted

for

as

a

variation

margin

payable

or

receivable

in

the

Statement

of

Assets

and

Liabilities.

Over

the

term

of

the

contract,

contractually

required

payments

to

be

paid

and

to

be

received

are

accrued

daily

and

recorded

as

unrealized

appreciation

or

depreciation

until

the

payments

are

made,

at

which

time

they

are

realized.

Interest

rate

swap

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund purchased

or

wrote

OTC

option

contracts

primarily

to

manage

and/or

gain exposure

to

foreign

exchange

rate

risk.

An

option

is

a

contract

entitling

the

holder

to

purchase

or

sell

a

specific

amount

of

shares

or

units

of

an

asset

or

notional

amount

of

a

swap

(swaption),

at

a

specified

price.

When

an

option

is

purchased

or

written,

an

amount

equal

to

the

premium

paid

or

received

is

recorded

as

an

asset

or

liability,

respectively.

Upon

exercise

of

an

option,

the

acquisition

cost

or

sales

proceeds

of

the

underlying

investment

is

adjusted

by

any

premium

received

or

paid.

Upon

expiration

of

an

option,

any

premium

received

or

paid

is

recorded

as

a

realized

gain

or

loss.

Upon

closing

an

option

other

than

through

expiration

or

exercise,

the

difference

between

the

premium

received

or

paid

and

the

cost

to

1.

Organization

and

Significant

Accounting

Policies

(continued)

c.

Derivative

Financial

Instruments

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

25

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

close

the

position

is

recorded

as

a

realized

gain

or

loss.

Option contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

See

Note

9 regarding

other

derivative

information.

d.

Securities

Lending

The

Fund

participates

in

an

agency

based

securities

lending

program

to

earn

additional

income.

The

Fund

receives

collateral

in

the

form

of

cash

and/or

U.S.

Government

and

Agency

securities

against

the

loaned

securities

in

an

amount

equal

to

at

least

102%

of

the

fair

value

of

the

loaned

securities.

Collateral

is

maintained

over

the

life

of

the

loan

in

an

amount

not

less

than

100%

of

the

fair

value

of

loaned

securities,

as

determined

at

the

close

of

Fund

business

each

day;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the

Fund

on

the

next

business

day.

Any

cash

collateral

received

is

deposited

into

a

joint

cash

account

with

other

funds

and

is

used

to

invest

in

a

money

market

fund

managed

by

Franklin

Advisers,

Inc.,

an

affiliate

of

the

Fund. The

Fund

may

receive

income

from

the

investment

of

cash

collateral,

in

addition

to

lending

fees paid

by

the

borrower.

Income

from

securities

loaned,

net

of

fees

paid

to

the

securities

lending

agent

and/or

third-party

vendor,

is

reported

separately

in

the Statement of

Operations.

The

Fund

bears

the

market

risk

with

respect

to

any

cash

collateral

investment,

securities

loaned,

and

the

risk

that

the

agent

may

default

on

its

obligations

to

the

Fund.

If

the

borrower

defaults

on

its

obligation

to

return

the

securities

loaned,

the

Fund

has

the

right

to

repurchase

the

securities

in

the

open

market

using

the

collateral

received.

The

securities

lending

agent

has

agreed

to

indemnify

the

Fund

in

the

event

of

default

by

a

third

party

borrower.

At

December

31,

2024,

the

Fund

had

no

securities

on

loan.

e.

Income

and

Deferred

Taxes

It

is the Fund's

policy

to

qualify

as

a

regulated

investment

company

under

the

Internal

Revenue

Code. The Fund

intends

to

distribute

to

shareholders

substantially

all

of

its

taxable

income

and

net

realized

gains

to

relieve

it

from

federal

income

and

excise

taxes.

As

a

result,

no

provision

for

U.S.

federal

income

taxes

is

required.

The

Fund

may

be

subject

to

foreign

taxation

related

to

income

received,

capital

gains

on

the

sale

of

securities

and

certain

foreign

currency

transactions

in

the

foreign

jurisdictions

in

which it

invests.

Foreign

taxes,

if

any,

are

recorded

based

on

the

tax

regulations

and

rates

that

exist

in

the

foreign

markets

in

which

the

Fund

invests.

When

a

capital

gain

tax

is

determined

to

apply,

the

Fund

records

an

estimated

deferred

tax

liability

in

an

amount

that

would

be

payable

if

the

securities

were

disposed

of

on

the

valuation

date.

As

a

result

of

several

court

cases,

in

certain

countries

across

the

European

Union, the

Fund

filed

additional

tax

reclaims

for

previously

withheld

taxes

on

dividends

earned

in

those

countries

(EU

reclaims). Income

recognized,

if

any,

for

EU

reclaims

is

reflected

as

other

income

in

the

Statement

of

Operations

and

any

related

receivable,

if

any,

is

reflected

as

European

Union

tax

reclaims

in

the

Statement

of

Assets

and

Liabilities.

Any

fees

associated

with

these

filings

are

reflected

in

other

expenses

in

the

Statement

of

Operations.

When

uncertainty

exists

as

to

the

ultimate

resolution

of

these

proceedings,

the

likelihood

of

receipt

of

these

EU

reclaims,

and

the

potential

timing

of

payment,

no

amounts

are

reflected

in

the

financial

statements.

For

U.S.

income

tax

purposes,

EU

reclaims

received

by

the

Fund,

if

any,

reduce

the

amount

of

foreign

taxes

Fund

shareholders

can

use

as

tax

deductions

or credits

on

their

income

tax

returns.

In

the

event

that

EU

reclaims

received

by

the Fund

during a

fiscal

year

exceed

foreign

withholding

taxes

paid

by

the

Fund,

and

the

Fund previously

passed

through to

its

shareholders

foreign

taxes

incurred

by

the

Fund

to

be

used

as

a

credit

or

deduction

on

a

shareholder’s

income

tax

return,

the Fund

will enter

into

a

closing

agreement

with

the

Internal

Revenue

Service

(IRS)

in

order

to

pay

the

associated

tax

liability

on

behalf

of

the Fund's

shareholders.

The

Fund

previously

determined

to

enter

into

a

closing

agreement

with

the

IRS

and

recorded

any

adjustments

to

estimated

payments

as

other

income,

as

reflected

in

the

Statement

of

Operations.

The Fund

may

recognize

an

income

tax

liability

related

to

its

uncertain

tax

positions

under

U.S.

GAAP

when

the

uncertain

tax

position

has

a

less

than

50%

probability

that

it

will

be

sustained

upon

examination

by

the

tax

authorities

based

on

its

technical

merits.

As

of

December

31,

2024, the Fund

has

determined

that

no

tax

liability

is

required

in

its

financial

statements

related

to

uncertain

tax

positions

for

any

open

tax

years

(or

expected

to

be

taken

in

future

tax

years).

Open

1.

Organization

and

Significant

Accounting

Policies

(continued)

c.

Derivative

Financial

Instruments

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

26

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

tax

years

are

those

that

remain

subject

to

examination

and

are

based

on

the

statute

of

limitations

in

each

jurisdiction

in

which

the Fund

invests.

f.

Security

Transactions,

Investment

Income,

Expenses

and

Distributions

Security

transactions

are

accounted

for

on

trade

date.

Realized

gains

and

losses

on

security

transactions

are

determined

on

a

specific

identification

basis.

Interest

income

(including

interest

income

from

payment-in-kind

securities,

if

any)

and

estimated

expenses

are

accrued

daily.

Amortization

of

premium

and

accretion

of

discount

on

debt

securities

are

included

in

interest

income.

Dividend

income

is

recorded

on

the

ex-dividend

date

except

for

certain

dividends

from

securities

where

the

dividend

rate

is

not

available.

In

such

cases,

the

dividend

is

recorded

as

soon

as

the

information

is

received

by

the

Fund.

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

Distributable

earnings

are

determined

according

to

income

tax

regulations

(tax

basis)

and

may

differ

from

earnings

recorded

in

accordance

with

U.S.

GAAP.

These

differences

may

be

permanent

or

temporary.

Permanent

differences

are

reclassified

among

capital

accounts

to

reflect

their

tax

character.

These

reclassifications

have

no

impact

on

net

assets

or

the

results

of

operations.

Temporary

differences

are

not

reclassified,

as

they

may

reverse

in

subsequent

periods.

Common

expenses

incurred

by

the

Trust

are

allocated

among

the

Funds

based

on

the

ratio

of

net

assets

of

each

Fund

to

the

combined

net

assets

of

the

Trust

or

based

on

the

ratio

of

number

of

shareholders

of

each

Fund

to

the

combined

number

of

shareholders

of

the

Trust.

Fund

specific

expenses

are

charged

directly

to

the

Fund

that

incurred

the

expense.

Realized

and

unrealized

gains

and

losses

and

net

investment

income,

excluding

class

specific

expenses,

are

allocated

daily

to

each

class

of

shares

based

upon

the

relative

proportion

of

net

assets

of

each

class.

Differences

in

per

share

distributions

by

class

are

generally

due

to

differences

in

class

specific

expenses.

Inflation-indexed

bonds

are

adjusted

for

inflation

through

periodic

increases

or

decreases

in

the

security's

interest

accruals,

face

amount,

or

principal

redemption

value,

by

amounts

corresponding

to

the

rate

of

inflation

as

measured

by

an

index.

Any

increase

or

decrease

in

the

face

amount

or

principal

redemption

value

will

be

included

as

interest

income

in

the

Statement

of

Operations.

g.

Accounting

Estimates

The

preparation

of

financial

statements

in

accordance

with

U.S.

GAAP

requires

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

at

the

date

of

the

financial

statements

and

the

amounts

of

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

h.

Guarantees

and

Indemnifications

Under

the Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

by

the Trust against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

Additionally,

in

the

normal

course

of

business,

the Trust,

on

behalf

of

the

Fund, enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Trust

that

have

not

yet

occurred.

Currently,

the Trust

expects

the

risk

of

loss

to

be

remote.

1.

Organization

and

Significant

Accounting

Policies

(continued)

e.

Income

and

Deferred

Taxes

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

27

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

2.

Shares

of

Beneficial

Interest

At

December

31,

2024,

there

were

an

unlimited

number

of

shares

authorized

($0.01

par

value).

Transactions

in

the

Fund's

shares

were

as

follows:

Year

Ended

December

31,

2024

Year

Ended

December

31,

2023

Shares

Amount

Shares

Amount

Class

A

Shares:

Shares

sold

a

...................................

3,225,769

$7,968,462

5,965,175

$14,106,990

Shares

issued

in

reinvestment

of

distributions

..........

3,614,832

8,864,050

3,056,717

7,213,881

Shares

redeemed

...............................

(18,737,244)

(46,307,405)

(18,985,938)

(44,814,737)

Net

increase

(decrease)

..........................

(11,896,643)

$(29,474,893)

(9,964,046)

$(23,493,866)

Class

A1

Shares:

Shares

sold

...................................

677,788

$1,685,287

1,682,115

$3,949,983

Shares

issued

in

reinvestment

of

distributions

..........

1,799,272

4,429,885

1,567,764

3,704,390

Shares

redeemed

...............................

(9,248,260)

(22,907,058)

(9,242,737)

(21,820,999)

Net

increase

(decrease)

..........................

(6,771,200)

$(16,791,886)

(5,992,858)

$(14,166,626)

Class

C

Shares:

Shares

sold

...................................

482,934

$1,187,887

743,327

$1,739,817

Shares

issued

in

reinvestment

of

distributions

..........

187,564

459,866

179,206

421,549

Shares

redeemed

a

..............................

(1,821,201)

(4,477,429)

(3,951,741)

(9,303,367)

Net

increase

(decrease)

..........................

(1,150,703)

$(2,829,676)

(3,029,208)

$(7,142,001)

Class

C1

Shares:

Shares

sold

...................................

30,511

$75,633

104,615

$245,837

Shares

issued

in

reinvestment

of

distributions

..........

20,689

51,004

19,313

45,748

Shares

redeemed

a

..............................

(149,228)

(367,543)

(413,172)

(980,771)

Net

increase

(decrease)

..........................

(98,028)

$(240,906)

(289,244)

$(689,186)

Class

R

Shares:

Shares

sold

...................................

6,017

$14,897

50,774

$118,692

Shares

issued

in

reinvestment

of

distributions

..........

8,611

21,246

6,445

15,276

Shares

redeemed

...............................

(8,093)

(20,046)

(60,071)

(140,429)

Net

increase

(decrease)

..........................

6,535

$16,097

(2,852)

$(6,461)

Class

R6

Shares:

Shares

sold

...................................

591,977

$1,462,623

650,235

$1,495,383

Shares

issued

in

reinvestment

of

distributions

..........

72,430

178,397

44,099

104,523

Shares

redeemed

...............................

(845,534)

(2,073,102)

(324,615)

(768,840)

Net

increase

(decrease)

..........................

(181,127)

$(432,082)

369,719

$831,066

Advisor

Class

Shares:

Shares

sold

...................................

1,090,994

$2,700,936

1,208,881

$2,875,560

Shares

issued

in

reinvestment

of

distributions

..........

473,139

1,169,568

420,907

998,284

Shares

redeemed

...............................

(3,261,534)

(8,096,512)

(4,234,508)

(10,034,343)

Net

increase

(decrease)

..........................

(1,697,401)

$(4,226,008)

(2,604,720)

$(6,160,499)

a

May

include

a

portion

of

Class

C

shares

that

were

automatically

converted

to

Class

A.

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

28

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

3.

Transactions

with

Affiliates

Franklin

Resources,

Inc.

is

the

holding

company

for

various

subsidiaries

that

together

are

referred

to

as

Franklin

Templeton.

Certain

officers

and trustees

of

the Fund are

also

officers

and/or

directors

of

the

following

subsidiaries:

a.

Management

Fees

The

Fund

pays

an

investment

management fee,

calculated

daily and

paid

monthly,

to

Global

Advisors based

on the

average

daily

net

assets

of

the

Fund

as

follows:

For

the

year

ended

December

31,

2024,

the

gross

effective

investment

management

fee

rate

was 0.725%

of

the

Fund’s

average daily

net

assets.

Under

a

subadvisory

agreement,

Advisers

and

TICL,

affiliates

of

Global

Advisors,

provides

subadvisory

services

to

the

Fund.

The

subadvisory

fee

is

paid

by

Global

Advisors

based

on

the

Fund’s

average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund.

b.

Administrative

Fees

Under

an

agreement

with

Global

Advisors,

FT

Services

provides

administrative

services

to

the

Fund.

The

fee

is

paid

by

Global Advisors

based

on

the

Fund's

average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund.

c.

Distribution

Fees

The

Board

has

adopted

distribution

plans

for

each

share

class,

with

the

exception

of

Class

R6

and

Advisor

Class

shares,

pursuant

to

Rule

12b-1

under

the

1940

Act.

Under

the

Fund’s

Class

A

and

A1

reimbursement

distribution

plan,

the

Fund

reimburses

Distributors

for

costs

incurred

in

connection

with

the

servicing,

sale

and

distribution

of

the

Fund's

shares

up

to

the

maximum

annual

plan

rate.

Under

the

Class

A

and

A1

reimbursement

distribution

plan,

costs

exceeding

the

maximum

for

the

current

plan

year

cannot

be

reimbursed

in

subsequent

periods.

In

addition,

under

the

Fund’s

Class

C,

C1

and

R

compensation

Subsidiary

Affiliation

Templeton

Global

Advisors

Limited

(Global

Advisors)

Investment

manager

Templeton

Investment

Counsel,

LLC

(TICL)

Investment

manager

Franklin

Advisers,

Inc.

(Advisers)

Investment

manager

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

Franklin

Distributors,

LLC

(Distributors)

Principal

underwriter

Franklin

Templeton

Investor

Services,

LLC

(Investor

Services)

Transfer

agent

Annualized

Fee

Rate

Net

Assets

0.725%

Up

to

and

including

$500

million

0.625%

Over

$500

million,

up

to

and

including

$1

billion

0.575%

Over

$1

billion,

up

to

and

including

$1.5

billion

0.525%

Over

$1.5

billion,

up

to

and

including

$6.5

billion

0.500%

Over

$6.5

billion,

up

to

and

including

$11.5

billion

0.478%

Over

$11.5

billion,

up

to

and

including

$16.5

billion

0.465%

Over

$16.5

billion,

up

to

and

including

$19

billion

0.455%

Over

$19

billion,

up

to

and

including

$21.5

billion

0.445%

In

excess

of

$21.5

billion

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

29

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

distribution

plans,

the

Fund

pays

Distributors

for

costs

incurred

in

connection

with

the

servicing,

sale

and

distribution

of

the

Fund's

shares

up

to

the

maximum

annual

plan

rate

for

each

class.

The

plan

year,

for

purposes

of

monitoring

compliance

with

the

maximum

annual

plan

rates,

is

February

1

through

January

31.

d.

Sales

Charges/Underwriting

Agreements

Front-end

sales

charges

and

contingent

deferred

sales

charges

(CDSC)

do

not

represent

expenses

of

the

Fund.

These

charges

are

deducted

from

the

proceeds

of

sales

of

fund

shares

prior

to

investment

or

from

redemption

proceeds

prior

to

remittance,

as

applicable.

Distributors

has

advised

the

Fund

of

the

following

commission

transactions

related

to

the

sales

and

redemptions

of

the

Fund's

shares

for

the

year:

.

e.

Transfer

Agent

Fees

Each

class

of

shares pays

transfer

agent

fees,

calculated

monthly

and

paid

monthly, to

Investor

Services

for

its

performance

of

shareholder

servicing

obligations. The

fees

are based

on

a

fixed

margin

earned

by

Investor

Services

and

are allocated

to

the Fund

based

upon

relative

assets

and

relative

transactions. In

addition,

each

class reimburses

Investor

Services

for

out

of

pocket

expenses

incurred

and,

except

for

Class

R6, reimburses

shareholder

servicing

fees

paid

to

third

parties.

These

fees

paid

to

third

parties

are

accrued

and

allocated

daily

based

upon

their

relative

proportion

of

such

classes'

aggregate

net

assets.

Class

R6

pays

Investor

Services

transfer

agent

fees

allocated

specifically

to

that

class

based

upon

its

relative

assets

and

relative

transactions.

For

the

year

ended

December

31,

2024,

the Fund

paid

transfer

agent

fees

as

noted

in

the

Statement of

Operations,

of

which

$161,582

was

retained

by

Investor

Services.

f.

Investments

in

Affiliated

Management

Investment

Companies

The

Fund

invests

in

one

or

more

affiliated

management

investment

companies.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

“Controlled

Affiliate”

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund’s

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Fund

does

not

invest

for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

Management

fees

paid

by

the

Fund

are

waived

on

assets

invested

in

the

affiliated

management

investment

companies,

as

noted

in

the

Statement

of

Operations,

in

an

amount

not

to

exceed

the

management

and

administrative

fees

paid

directly

or

indirectly

by

each

affiliate.

During

the

year

ended

December

31,

2024,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows:

Class

A

....................................................................................

0.25%

Class

A1

...................................................................................

0.25%

Class

C

....................................................................................

1.00%

Class

C1

...................................................................................

0.65%

Class

R

....................................................................................

0.50%

Sales

charges

retained

net

of

commissions

paid

to

unaffiliated

brokers/dealers

..............................

$5,547

CDSC

retained

..............................................................................

$748

3.

Transactions

with

Affiliates

(continued)

c.

Distribution

Fees

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

30

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

g.

Waiver

and

Expense

Reimbursements

Global

Advisors

has

contractually

agreed

in

advance

to

waive

or

limit

its

fees

and

to

assume

as

its

own

expense

certain

expenses

otherwise

payable

by

the

Fund

so

that

the

operating

expenses

(excluding

distribution

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

0.95%

based

on

the

average

net

assets

of

each

class

until

April

30,

2025.

Total

expenses

waived

or

paid

are

not

subject

to

recapture

subsequent

to

the

Fund’s

fiscal

year

end.

Transfer

agent

fees

on

Class

R6

shares

of

the

Fund have

been

capped

so

that

transfer

agent

fees

for

that

class

do

not

exceed

0.03%

based

on

the

average

net

assets

of

the

class

until

April

30,

2025.

4.

Income

Taxes

For

tax

purposes,

capital

losses

may

be

carried

over

to

offset

future

capital

gains.

At

December

31,

2024,

the

capital

loss

carryforwards

were

as

follows:

During

the

year

ended

December

31,

2024,

the

Fund

utilized

$1,695,086

of

capital

loss

carryforwards.

For

tax

purposes,

the

Fund

may

elect

to

defer

any

portion

of

a

post-October

capital

loss

or

late-year

ordinary

loss

to

the

first

day

of

the

following

fiscal

year.

At

December

31,

2024,

the

Fund

deferred

late-year

ordinary

losses

of

$4,910,183.

    aa

Value

at

Beginning

of

Year

Purchases

Sales

Realized

Gain

(Loss)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

End

of

Year

Number

of

Shares

Held

at

End

of

Year

Investment

Income

a      

a  

a  

a  

a  

a  

a  

a  

Templeton

Global

Balanced

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.183%

$4,293,363

$141,737,225

$(140,047,258)

$—

$—

$5,983,330

5,983,330

$579,964

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.183%

$—

$43,106,000

$(43,106,000)

$—

$—

$—

—

$46,555

Total

Affiliated

Securities

...

$4,293,363

$184,843,225

$(183,153,258)

$—

$—

$5,983,330

$626,519

Capital

loss

carryforwards

not

subject

to

expiration:

Short

term

................................................................................

$24,893,552

Long

term

................................................................................

123,543,177

Total

capital

loss

carryforwards

...............................................................

$148,436,729

3.

Transactions

with

Affiliates

(continued)

f.

Investments

in

Affiliated

Management

Investment

Companies

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

31

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

The

tax

character

of

distributions

paid

during

the

years

ended

December

31,

2024

and

2023,

was

as

follows:

At

December

31,

2024,

the

cost

of

investments

and

net

unrealized

appreciation

(depreciation) for

income

tax

purposes

were

as

follows:

Differences

between

income

and/or

capital

gains

as

determined

on

a

book

basis

and

a

tax

basis

are

primarily

due

to

differing

treatments

of

defaulted

securities,

foreign

currency

transactions,

wash

sales,

EU

reclaims,

payments-in-kind

and

bond

discounts

and

premiums.

5.

Investment

Transactions

Purchases

and

sales

of

investments (excluding

short

term

securities) for

the

year

ended

December

31,

2024,

aggregated

$131,487,866 and

$198,123,624,

respectively. 

6.

Credit

Risk

and

Defaulted

Securities

At

December

31,

2024,

the

Fund

had 21.3%

of

its

portfolio

invested

in

high

yield

or

other

securities

rated

below

investment

grade

and

unrated

securities.

These

securities

may

be

more

sensitive

to

economic

conditions

causing

greater

price

volatility

and

are

potentially

subject

to

a

greater

risk

of

loss

due

to

default

than

higher

rated

securities.

The

Fund held

defaulted

securities

and/or

other

securities

for

which

the

income

has

been

deemed

uncollectible.

At

December

31,

2024,

the

aggregate

value

of

these

securities represents

less

than

0.1% of

the

Fund's

net

assets.

The

Fund

discontinues

accruing

income

on

securities

for

which

income

has

been

deemed

uncollectible

and

provides

an

estimate

for

losses

on

interest

receivable.

The

securities

have

been

identified

in

the

accompanying Schedule

of

Investments.

7.

Concentration

of

Risk

Investing

in

foreign

securities

may

include

certain

risks

and

considerations

not

typically

associated

with

investing

in

U.S.

securities,

such

as

fluctuating

currency

values

and

changing

local,

regional

and

global

economic,

political

and

social

conditions,

which

may

result

in

greater

market

volatility.

Political

and

financial

uncertainty

in

many

foreign

regions

may

increase

market

volatility

and

the

economic

risk

of

investing

in

foreign

securities.

In

addition,

certain

foreign

securities

may

not

be

as

liquid

as

U.S.

securities.

Certain

investments

in

Chinese

companies

are

made

through

a

special

structure

known

as

a

VIE.

In

a

VIE

structure,

foreign

investors,

such

as

the

Fund,

will

only

own

stock

in

a

shell

company

rather

than

directly

in

the

VIE,

which

must

be

owned

by

Chinese

nationals

(and/or

Chinese

companies)

to

obtain

the

licenses

and/or

assets

required

to

operate

in

a

restricted

or

2024

2023

Distributions

paid

from:

Ordinary

income

..........................................................

$7,317,973

$—

Return

of

capital

...........................................................

8,615,559

13,126,977

$15,933,532

$13,126,977

Cost

of

investments

..........................................................................

$272,424,847

Unrealized

appreciation

........................................................................

$34,883,238

Unrealized

depreciation

........................................................................

(27,716,274)

Net

unrealized

appreciation

(depreciation)

..........................................................

$7,166,964

4.

Income

Taxes

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

32

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

prohibited

sector

in

China.

The

value

of

the

shell

company

is

derived

from

its

ability

to

consolidate

the

VIE

into

its

financials

pursuant

to

contractual

arrangements

that

allow

the

shell

company

to

exert

a

degree

of

control

over,

and

obtain

economic

benefits

arising

from,

the

VIE

without

formal

legal

ownership.

While

VIEs

are

a

longstanding

industry

practice

and

are

well

known

by

Chinese

officials

and

regulators,

the

structure

historically

has

not

been

formally

recognized

under

Chinese

law

and

it

is

uncertain

whether

Chinese

officials

or

regulators

will

withdraw

their

implicit

acceptance

of

the

structure.

It

is

also

uncertain

whether

the

contractual

arrangements,

which

may

be

subject

to

conflicts

of

interest

between

the

legal

owners

of

the

VIE

and

foreign

investors,

would

be

enforced

by

Chinese

courts

or

arbitration

bodies.

Prohibitions

of

these

structures

by

the

Chinese

government,

or

the

inability

to

enforce

such

contracts,

from

which

the

shell

company

derives

its

value,

would

likely

cause

the

VIE-structured

holding(s)

to

suffer

significant,

detrimental,

and

possibly

permanent

losses,

and

in

turn,

adversely

affect

the

Fund’s

returns

and

net

asset

value.

8.

Restricted

Securities

The

Fund

invests

in

securities

that

are

restricted

under

the

Securities

Act

of

1933

(1933

Act).

Restricted

securities

are

often

purchased

in

private

placement

transactions,

and

cannot

be

sold

without

prior

registration

unless

the

sale

is

pursuant

to

an

exemption

under

the

1933

Act.

Disposal

of

these

securities

may

require

greater

effort

and

expense,

and

prompt

sale

at

an

acceptable

price

may

be

difficult.

The Fund

may

have

registration

rights

for

restricted

securities.

The

issuer

generally

incurs

all

registration

costs.

At

December

31,

2024,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

1933

Act,

were

as

follows:

9.

Other

Derivative

Information

At

December

31,

2024,

investments

in

derivative

contracts

are

reflected

in

the Statement of

Assets

and

Liabilities

as

follows:

Shares

Issuer

Acquisition

Date

Cost

Value

Templeton

Global

Balanced

Fund

32,900,733

a

K2016470219

South

Africa

Ltd.,

A

...............

2/08/13

-

2/01/17

$

81,025

$

—

4,646,498

a

K2016470219

South

Africa

Ltd.,

B

...............

2/01/17

3,450

—

Total

Restricted

Securities

(Value

is

—%

of

Net

Assets)

...............

$84,475

$—

a

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$—

as

of

December

31,

2024.

Asset

Derivatives

Liability

Derivatives

Derivative

Contracts

Not

Accounted

for

as

Hedging

Instruments

Statement

of

Assets

and

Liabilities

Location

Fair

Value

Statement

of

Assets

and

Liabilities

Location

Fair

Value

Templeton

Global

Balanced

Fund

Interest

rate

contracts

.......

Variation

margin

on

centrally

cleared

swap

contracts

$

—

Variation

margin

on

centrally

cleared

swap

contracts

$

700,242

a

Foreign

exchange

contracts

..

Unrealized

appreciation

on

OTC

forward

exchange

contracts

405,956

Unrealized

depreciation

on

OTC

forward

exchange

contracts

3,501,450

Total

....................

$405,956

$4,201,692

7.

Concentration

of

Risk

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

33

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

For

the

year

ended

December

31,

2024,

the

effect

of

derivative

contracts

in

the Statement

of

Operations

was

as

follows:

For

the

year

ended

December

31,

2024,

the

average

month

end

notional

amount

of

swap

contracts

and

options

represented

$3,619,181

and

$8,690,385,

respectively.

The

average

month

end

contract

value

of

forward

exchange

contracts

was

$106,230,291.

At

December

31,

2024,

the

Fund's

OTC

derivative

assets

and

liabilities

are

as

follows:

At

December

31,

2024,

OTC

derivative

assets,

which

may

be

offset

against

the

Fund's

OTC

derivative

liabilities

and

collateral

received

from

the

counterparty,

are

as

follows:

a

This

amount

reflects

the

cumulative

appreciation

(depreciation)

of

centrally

cleared

swap

contracts

as

reported

in

the

Schedule

of

Investments.

Only

the

variation

margin

receivable/payable

at

year

end

is

separately

reported

within

the

Statement

of

Assets

and

Liabilities.

Prior

variation

margin

movements

were

recorded

to

cash

upon

receipt

or

payment.

Derivative

Contracts

Not

Accounted

for

as

Hedging

Instruments

Statement

of

Operations

Location

Net

Realized

Gain

(Loss)

for

the

Year

Statement

of

Operations

Location

Net

Change

in

Unrealized

Appreciation

(Depreciation)

for

the

Year

Templeton

Global

Balanced

Fund

Net

realized

gain

(loss)

from:

Net

change

in

unrealized

  appreciation

(depreciation)

on:

Interest

rate

contracts

..........

Swap

contracts

$533

Swap

contracts

$(700,242)

Foreign

exchange

contracts

.....

Investments

(178,868)

a

Investments

66,469

a

Written

options

100,227

Written

options

27,970

Forward

exchange

contracts

(4,647,701)

Forward

exchange

contracts

(5,567,108)

Total

.......................

$(4,725,809)

$(6,172,911)

a

Purchased

option

contracts

are

included

in

net

realized

gain

(loss)

from

investments

and

net

change

in

unrealized

appreciation

(depreciation)  on

investments

in

the

Statement

of

Operations.

Gross

Amounts

of

Assets

and

Liabilities

Presented

in

the

Statement

of

Assets

and

Liabilities

Assets

a

Liabilities

a

Templeton

Global

Balanced

Fund

Forward

Exchange

Contracts

.............................

$

405,956

$

3,501,450

Total

.............................................

$405,956

$3,501,450

a

Absent

an

event

of

default

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

in

the

Statement

of

Assets

and

Liabilities.

9.

Other

Derivative

Information

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

34

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

At

December

31,

2024,

OTC

derivative

liabilities,

which

may

be

offset

against

the

Fund's

OTC

derivative

assets

and

collateral

pledged

to

the

counterparty,

are

as

follows:

Amounts

Not

Offset

in

the

Statement

of

Assets

and

Liabilities

Gross

Amounts

of

Assets

Presented

in

the

Statement

of

Assets

and

Liabilities

Financial

Instruments

Available

for

Offset

Financial

Instruments

Collateral

Received

Cash

Collateral

Received

Net

Amount

(Not

less

than

zero)

Templeton

Global

Balanced

Fund

Counterparty

BNDP

...................

$

—

$

—

$

—

$

—

$

—

BOFA

....................

—

—

—

—

—

CITI

.....................

60,838

(60,838)

—

—

—

DBAB

...................

90,284

(90,284)

—

—

—

GSCO

...................

—

—

—

—

—

HSBK

...................

196,578

(196,578)

—

—

—

JPHQ

...................

23,643

(23,643)

—

—

—

MSCO

...................

34,613

(34,613)

—

—

—

Total

...................

$405,956

$(405,956)

$—

$—

$—

$

1

Amounts

Not

Offset

in

the

Statement

of

Assets

and

Liabilities

Gross

Amounts

of

Liabilities

Presented

in

the

Statement

of

Assets

and

Liabilities

Financial

Instruments

Available

for

Offset

Financial

Instruments

Collateral

Pledged

Cash

Collateral

Pledged

a

Net

Amount

(Not

less

than

zero)

Templeton

Global

Balanced

Fund

Counterparty

BNDP

...................

$

175,830

$

—

$

—

$

—

$

175,830

BOFA

....................

120,452

—

—

(110,000)

10,452

CITI

.....................

108,048

(60,838)

—

—

47,210

DBAB

...................

667,836

(90,284)

—

(520,000)

57,552

GSCO

...................

793,519

—

—

(793,519)

—

HSBK

...................

679,475

(196,578)

—

(370,000)

112,897

JPHQ

...................

674,799

(23,643)

—

(640,000)

11,156

MSCO

...................

281,491

(34,613)

—

(246,878)

—

Total

...................

$3,501,450

$(405,956)

$—

$(2,680,397)

$415,097

a

In

some

instances,

the

collateral

amounts

disclosed

in

the

table

above

were

adjusted

due

to

the

requirement

to

limit

collateral

amounts

to

avoid

the

effect

of

over

collateralization. Actual

collateral

received

and/or

pledged

may

be

more

than

the

amounts

disclosed

herein.

9.

Other

Derivative

Information

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

35

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

See

Note

1(c) regarding

derivative

financial

instruments. 

See

Abbreviations

on

page

37

.

10.

Credit

Facility

The

Fund,

together

with

other

U.S.

registered

and

foreign

investment

funds

(collectively,

Borrowers),

managed

by

Franklin

Templeton,

are

borrowers

in

a

joint

syndicated

senior

unsecured

credit

facility

totaling

$2.675

billion

(Global

Credit

Facility)

which

matured

on

January

31,

2025.

This

Global

Credit

Facility

provides

a

source

of

funds

to

the

Borrowers

for

temporary

and

emergency

purposes,

including

the

ability

to

meet

future

unanticipated

or

unusually

large

redemption

requests.

Effective

January

31,

2025,

the

Borrowers

renewed

the

Global

Credit

Facility

for

a

one-year

term,

maturing

January

30,

2026,

for

a

total

of

$2.995

billion.

Under

the

terms

of

the

Global

Credit

Facility,

the

Fund

may,

in

addition

to

interest

charged

on

any

borrowings

made

by

the

Fund

and

other

costs

incurred

by

the

Fund,

pay

its

share

of

fees

and

expenses

incurred

in

connection

with

the

implementation

and

maintenance

of

the

Global

Credit

Facility,

based

upon

its

relative

share

of

the

aggregate

net

assets

of

all

of

the

Borrowers,

including

an

annual

commitment

fee

of

0.15%

based

upon

the

unused

portion

of

the

Global

Credit

Facility.

These

fees

are

reflected

in

other

expenses

in

the

Statement

of

Operations.

During

the

year

ended

December

31,

2024,

the Fund

did

not

use

the

Global

Credit

Facility.

11.

Fair

Value

Measurements

The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Fund's financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

1

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Level

2

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

3

–

significant

unobservable

inputs

(including

the

Fund's

own

assumptions

in

determining

the

fair

value

of

financial

instruments)

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

A

summary

of

inputs

used

as

of

December

31,

2024,

in

valuing

the

Fund's assets

and

liabilities carried

at

fair

value,

is

as

follows:

Level

1

Level

2

Level

3

Total

Templeton

Global

Balanced

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

China

...............................

$

—

$

5,654,860

$

—

$

5,654,860

Germany

.............................

—

13,607,760

—

13,607,760

Hungary

.............................

—

2,833,763

—

2,833,763

Japan

...............................

—

17,745,999

—

17,745,999

Netherlands

...........................

—

2,887,041

—

2,887,041

South

Africa

...........................

—

—

—

a

—

South

Korea

..........................

—

7,903,769

—

7,903,769

9.

Other

Derivative

Information

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

36

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

A

reconciliation

in

which

Level

3

inputs

are

used

in

determining

fair

value

is

presented

when

there

are

significant

Level

3

assets

and/or

liabilities

at

the

beginning

and/or

end

of

the year.

12.

Operating

Segments

The Fund

has adopted

the

FASB

Accounting

Standards

Update

(ASU)

2023-07,

Segment

Reporting

(Topic

280)

-

Improvements

to

Reportable

Segment

Disclosures.

The

update

is

limited

to

disclosure

requirements

and

does

not

impact

the

Fund’s

financial

position

or

results

of

operations.

The

Fund

operates

as

a

single

operating

segment,

which

is

an

investment

portfolio.

The

Fund's

Investment

manager

serves

as

the

Chief

Operating

Decision

Maker

(CODM),

evaluating

fund-wide

results

and

performance

under

a

unified

investment

strategy.

The

CODM

uses

these

measures

to

assess

fund

performance

and

allocate

resources

effectively.

Internal

reporting

provided

to

the

CODM

aligns

with

the

accounting

policies

and

measurement

principles

used

in

the financial

statements.

For

information

regarding

segment

assets,

segment

profit

or

loss,

and

significant

expenses,

refer

to

the Statement

of

Assets

and

Liabilities

and

the Statement

of

Operations,

along

with

the

related

notes

to

the financial

statements.

The Schedule

of

Investments

provides

details

of

the

Fund's

investments

that

generate

returns

such

as

interest,

dividends,

and

realized

and

unrealized

gains

or

losses.

Performance

metrics,

including

portfolio

turnover

and

expense

ratios,

are

disclosed

in

the Financial

Highlights. 

Level

1

Level

2

Level

3

Total

Templeton

Global

Balanced

Fund

(continued)

Assets:

(continued)

Investments

in

Securities:

(continued)

Common

Stocks:

(continued)

Switzerland

...........................

$

—

$

1,348,597

$

—

$

1,348,597

Taiwan

...............................

—

5,892,259

—

5,892,259

United

Kingdom

........................

4,782,782

27,198,695

—

31,981,477

United

States

..........................

57,846,227

8,058,575

—

65,904,802

Corporate

Bonds

........................

—

—

—

a

—

Foreign

Government

and

Agency

Securities

....

—

103,798,660

—

103,798,660

U.S.

Government

and

Agency

Securities

.......

—

3,829,051

—

3,829,051

Escrows

and

Litigation

Trusts

...............

—

—

—

a

—

Short

Term

Investments

...................

5,983,330

14,016,179

—

19,999,509

Total

Investments

in

Securities

...........

$68,612,339

$214,775,208

b

$—

$283,387,547

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$405,956

$—

$405,956

Total

Other

Financial

Instruments

.........

$—

$405,956

$—

$405,956

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$3,501,450

$—

$3,501,450

Swap

Contracts

.........................

—

700,242

—

700,242

Total

Other

Financial

Instruments

.........

$—

$4,201,692

$—

$4,201,692

a

Includes

financial

instruments

determined

to

have

no

value.

b

Includes

foreign

securities

valued

at

$93,131,318,

which

were

categorized

as

Level

2

as

a

result

of

the

application

of

market

level

fair

value

procedures.

See

the

Financial

Instrument

Valuation

note

for

more

information.

11.

Fair

Value

Measurements

(continued)

Templeton

Global

Investment

Trust

Notes

to

Financial

Statements

37

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

(continued)

13.

Subsequent

Events

The Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

financial

statements

and

determined

that

no

events

have

occurred

that

require

disclosure

other

than

those

already

disclosed

in

the

financial

statements.

Abbreviations

Counterparty

BNDP

BNP

Paribas

SA

BOFA

Bank

of

America

Corp.

CITI

Citibank

NA

DBAB

Deutsche

Bank

AG

GSCO

Goldman

Sachs

Group,

Inc.

HSBK

HSBC

Bank

plc

JPHQ

JPMorgan

Chase

Bank

NA

MSCO

Morgan

Stanley

Selected

Portfolio

ADR

American

Depositary

Receipt

CDI

certificado

de

deposito

interbancario

PIK

Payment-In-Kind

Cu

r

rency

AUD

Australian

Dollar

BRL

Brazilian

Real

COP

Colombian

Peso

EGP

Egyptian

Pound

EUR

Euro

GHS

Ghanaian

Cedi

INR

Indian

Rupee

KZT

Kazakhstani

Tenge

MXN

Mexican

Peso

NOK

Norwegian

Krone

UYU

Uruguayan

Peso

ZAR

South

African

Rand

The

following

reference

rates,

and

their

values

as

of

period

end,

are

used

for

security

descriptions:

Reference

Index

Reference

Rate

1-day

BRL

CDI

......................

12.15%

1-day

TIIEOIS

.......................

10.20%

Templeton

Global

Investment

Trust

Report

of

Independent

Registered

Public

Accounting

Firm

38

franklintempleton.com

Annual

Report

To

the

Board

of

Trustees

of

Templeton

Global

Investment

Trust

and

Shareholders

of

Templeton

Global

Balanced

Fund

Opinion

on

the

Financial

Statements

We

have

audited

the

accompanying

statement

of

assets

and

liabilities,

including

the

schedule

of

investments,

of

Templeton

Global

Balanced

Fund

(one

of

the

funds

constituting

Templeton

Global

Investment

Trust,

referred

to

hereafter

as

the

"Fund")

as

of

December

31,

2024,

the

related

statement

of

operations

for

the

year

ended

December

31,

2024,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

December

31,

2024,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

December

31,

2024

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

the

Fund

as

of

December

31,

2024,

the

results

of

its

operations

for

the

year

then

ended,

the

changes

in

its

net

assets

for

each

of

the

two

years

in

the

period

ended

December

31,

2024

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

December

31,

2024

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinion

These

financial

statements

are

the

responsibility

of

the

Fund’s

management.

Our

responsibility

is

to

express

an

opinion

on

the

Fund’s

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Fund

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

December

31,

2024

by

correspondence

with

the

custodian,

private

placement

agent,

transfer

agent

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion.

/s/PricewaterhouseCoopers

LLP

San

Francisco,

California

February

20,

2025

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

Franklin

Templeton

Group

of

Funds

since

1948.

Templeton

Global

Investment

Trust

Tax

Information

(unaudited)

39

franklintempleton.com

Annual

Report

Templeton

Global

Balanced

Fund

By

mid-February,

tax

information

related

to

a

shareholder's

proportionate

share

of

distributions

paid

during

the

preceding

calendar

year

will

be

received,

if

applicable.

Please

also

refer

to

www.franklintempleton.com

for

per

share

tax

information

related

to

any

distributions

paid

during

the

preceding

calendar

year.

Shareholders

are

advised

to

consult

with

their

tax

advisors

for

further

information

on

the

treatment

of

these

amounts

on

their

tax

returns.

The

following

tax

information

for

the

Fund

is

required

to

be

furnished

to

shareholders

with

respect

to

income

earned

and

distributions

paid

during

its

fiscal

year.

.

The

Fund

hereby

reports

the

following

amounts,

or

if

subsequently

determined

to

be

different,

the

maximum

allowable

amounts,

for

the

fiscal

year

ended

December

31,

2024:

Note

(1)

-

The

Law

varies

in

each

state

as

to

whether

and

what

percentage

of

dividend

income

attributable

to

Federal

obiligations

is

exempt

from

state

income

tax.

Shareholders

are

advised

to

consult

with

their

tax

advisors

to

determine

if

any

portion

of

the

dividends

received

is

exempt

from

state

income

taxes.

Under

Section

853

of

the

Internal

Revenue

Code,

the

Fund

intends

to

elect

to

pass

through

to

their

shareholders

the

following

amounts,

or

amounts

as

finally

determined,

of

foreign

taxes

paid

and

foreign

source

income

earned

by

the

Fund

during

the

fiscal

year

ended

December

31,

2024:

Pursuant

to:

Amount

Reported

Income

Eligible

for

Dividends

Received

Deduction

(DRD)

§854(b)(1)(A)

$1,122,012

Qualified

Dividend

Income

Earned

(QDI)

§854(b)(1)(B)

$4,667,219

Section

163(j)

Interest

Earned

§163(j)

$10,724,463

Interest

Earned

from

Federal

Obligations

Note

(1)

$170,777

Amount

Reported

Foreign

Taxes

Paid

$909,871

Foreign

Source

Income

Earned

$14,300,586

Templeton

Global

Investment

Trust

40

franklintempleton.com

Annual

Report

Changes

In

and

Disagreements

with

Accountants

For

the

period

covered

by

this

report

Not

applicable.

Results

of

Meeting(s)

of

Shareholders

For

the

period

covered

by

this

report

Not

applicable.

Remuneration

Paid

to

Directors,

Officers

and

Others

For

the

period

covered

by

this

report

Refer

to

the

financial

statements

included

herein.

Board

Approval

of

Management

and

Subadvisory

Agreements

For

the

period

covered

by

this

report

Not

applicable.

4290-AFSOI

02/25

©

2025

Franklin

Templeton.

All

rights

reserved.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR, as applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 15.	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
	There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees that would require disclosure herein.

ITEM 16. CONTROLS AND PROCEDURES.

(a) The Registrant’s chief executive officer and chief financial officer have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are likely to materially affect the registrant’s internal control over financial reporting.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

(a) Not applicable.

(b) Not applicable.

ITEM 19. EXHIBITS.

(a) (1) Code of Ethics attached hereto.

Exhibit 99.CODE ETH

(a) (2) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.CERT

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.906CERT

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

TEMPLETON GLOBAL INVESTMENT TRUST
By:	/s/ Christopher Kings
	Christopher Kings
	Chief Executive Officer – Finance and Administration
Date:	February 28, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Christopher Kings
	Christopher Kings
	Chief Executive Officer – Finance and Administration
Date:	February 28, 2025

By:	/s/ Jeffrey White
	Jeffrey White
	Chief Financial Officer, Chief Accounting Officer and Treasurer
Date:	February 28, 2025