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tsr:benchmarkHB10561_2503Member 2024-12-31 tsr:Years iso4217:USD pure shares iso4217:USD shares false 0000916488 N-1A N-CSR Templeton Global Investment Trust 2024-12-31 Templeton Global Balanced Fund Class A TAGBX 2024-12-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Templeton Global Balanced Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">January 1, 2024, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 31, 2024.</span> annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">(800) DIAL BEN/342-5236</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents (800) DIAL BEN/342-5236 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST YEAR? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">^*</span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class A</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$120</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.20%</span></div> </td> </tr> </table></div> 120 0.0120 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?</b></span></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For the twelve months ended December 31, 2024, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Class A shares of Templeton Global Balanced Fund returned </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">0.44%. The Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.</span></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>PERFORMANCE HIGHLIGHTS</b></span></span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top contributors to performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">sovereign credit.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In currencies, underweighted exposure to the euro contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">year.</span></div> </td> </tr> </table></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top detractors from performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">detracted from relative performance.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.</span></div> </td> </tr> </table></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Use of derivatives and the impact on performance:</b></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">were used to manage duration exposure, which also detracted from performance.</span></div> The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The graph and table </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.</span> <div><img alt="image" src="ts2499img003.jpg" style="width:88.88888888888889%"/></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>AVERAGE ANNUAL TOTAL RETURNS (%) </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">Period Ended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;margin-left:7.75pt;border-bottom:1.5pt solid #778B8B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:47.530575539568346%;"></td> <td style="height:1px;width:17.489208633093526%;"></td> <td style="height:1px;width:17.140287769784173%;"></td> <td style="height:1px;width:17.83992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>1 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>5 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>10 Year</b></span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class A</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.44</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.42</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.91</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class A (with sales charge)</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-4.92</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.57</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.34</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Global Aggregate Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.69</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.96</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.15</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>MSCI All Country World Index-NR</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17.49</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">10.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">9.23</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Multiverse Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.34</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.76</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.35</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Blended Benchmark</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^†</span> </div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">7.78</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.22</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.91</span></div> </td> </tr> </table></div> Class A 0.0044 -0.0042 0.0091 Class A (with sales charge) -0.0492 -0.0157 0.0034 Bloomberg Global Aggregate Index -0.0169 -0.0196 0.0015 MSCI All Country World Index-NR 0.1749 0.1006 0.0923 Bloomberg Multiverse Index -0.0134 -0.0176 0.0035 Blended Benchmark 0.0778 0.0422 0.0491 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For current month-end performance, please call Franklin Templeton at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">(800) DIAL BEN/342-5236 or visit </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/investments/options/mutual-funds</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Important data provider notices and terms available at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">www.franklintempletondatasources.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$291,702,427</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^*</span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">126</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Management Fee Paid</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$2,228,238</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">43.31%</span></div> </td> </tr> </table></div> 291702427 126 2228238 0.4331 <div><img alt="image" src="ts2499img004.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 9450 9207 9725 10910 9880 10567 10725 10561 9053 10303 10341 10000 9685 9887 10618 10490 11208 12238 11662 9767 10326 10151 10000 9764 10531 13056 11827 14973 17406 20633 16844 20584 24183 10000 9671 9946 10710 10565 11318 12339 11783 9896 10494 10354 10000 9738 10273 11874 11250 13131 14869 15842 13150 14984 16150 0.245 0.112 0.063 0.055 0.048 0.036 0.028 0.025 0.024 0.024 0.024 0.023 0.022 0.022 0.021 0.020 0.017 0.015 0.015 0.090 0.071 Templeton Global Balanced Fund Class A1 TINCX 2024-12-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Templeton Global Balanced Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">January 1, 2024, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 31, 2024.</span> annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">(800) DIAL BEN/342-5236</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents (800) DIAL BEN/342-5236 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST YEAR? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">^*</span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class A1</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$120</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.20%</span></div> </td> </tr> </table></div> 120 0.0120 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?</b></span></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For the twelve months ended December 31, 2024, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Class A1 shares of Templeton Global Balanced Fund returned </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">0.44%. The Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.</span></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>PERFORMANCE HIGHLIGHTS</b></span></span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top contributors to performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">sovereign credit.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In currencies, underweighted exposure to the euro contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">year.</span></div> </td> </tr> </table></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top detractors from performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">detracted from relative performance.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.</span></div> </td> </tr> </table></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Use of derivatives and the impact on performance:</b></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">were used to manage duration exposure, which also detracted from performance.</span></div> The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The graph and table </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.</span> <div><img alt="image" src="ts2501img003.jpg" style="width:88.88888888888889%"/></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>AVERAGE ANNUAL TOTAL RETURNS (%) </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">Period Ended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;margin-left:7.75pt;border-bottom:1.5pt solid #778B8B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:47.530575539568346%;"></td> <td style="height:1px;width:17.489208633093526%;"></td> <td style="height:1px;width:17.140287769784173%;"></td> <td style="height:1px;width:17.83992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>1 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>5 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>10 Year</b></span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class A1</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.44</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.41</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.95</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class A1 (with sales charge)</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-3.43</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.16</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.56</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Global Aggregate Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.69</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.96</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.15</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>MSCI All Country World Index-NR</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17.49</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">10.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">9.23</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Multiverse Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.34</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.76</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.35</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Blended Benchmark</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^†</span> </div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">7.78</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.22</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.91</span></div> </td> </tr> </table></div> Class A1 0.0044 -0.0041 0.0095 Class A1 (with sales charge) -0.0343 -0.0116 0.0056 Bloomberg Global Aggregate Index -0.0169 -0.0196 0.0015 MSCI All Country World Index-NR 0.1749 0.1006 0.0923 Bloomberg Multiverse Index -0.0134 -0.0176 0.0035 Blended Benchmark 0.0778 0.0422 0.0491 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For current month-end performance, please call Franklin Templeton at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">(800) DIAL BEN/342-5236 or visit </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/investments/options/mutual-funds</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Important data provider notices and terms available at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">www.franklintempletondatasources.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$291,702,427</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^*</span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">126</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Management Fee Paid</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$2,228,238</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">43.31%</span></div> </td> </tr> </table></div> 291702427 126 2228238 0.4331 <div><img alt="image" src="ts2501img004.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 9625 9409 9905 11111 10061 10798 10959 10792 9258 10531 10574 10000 9685 9887 10618 10490 11208 12238 11662 9767 10326 10151 10000 9764 10531 13056 11827 14973 17406 20633 16844 20584 24183 10000 9671 9946 10710 10565 11318 12339 11783 9896 10494 10354 10000 9738 10273 11874 11250 13131 14869 15842 13150 14984 16150 0.245 0.112 0.063 0.055 0.048 0.036 0.028 0.025 0.024 0.024 0.024 0.023 0.022 0.022 0.021 0.020 0.017 0.015 0.015 0.090 0.071 Templeton Global Balanced Fund Class C FCGBX 2024-12-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Templeton Global Balanced Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">January 1, 2024, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 31, 2024.</span> annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">(800) DIAL BEN/342-5236</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents (800) DIAL BEN/342-5236 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST YEAR? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">^*</span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class C</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$195</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.95%</span></div> </td> </tr> </table></div> 195 0.0195 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?</b></span></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For the twelve months ended December 31, 2024, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Class C shares of Templeton Global Balanced Fund returned </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">-0.33%. The Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.</span></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>PERFORMANCE HIGHLIGHTS</b></span></span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top contributors to performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">sovereign credit.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In currencies, underweighted exposure to the euro contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">year.</span></div> </td> </tr> </table></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top detractors from performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">detracted from relative performance.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.</span></div> </td> </tr> </table></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Use of derivatives and the impact on performance:</b></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">were used to manage duration exposure, which also detracted from performance.</span></div> The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The graph and table </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.</span> <div><img alt="image" src="ts2498img003.jpg" style="width:88.88888888888889%"/></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>AVERAGE ANNUAL TOTAL RETURNS (%) </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">Period Ended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;margin-left:7.75pt;border-bottom:1.5pt solid #778B8B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:47.530575539568346%;"></td> <td style="height:1px;width:17.489208633093526%;"></td> <td style="height:1px;width:17.140287769784173%;"></td> <td style="height:1px;width:17.83992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>1 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>5 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>10 Year</b></span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class C</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.33</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.15</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.17</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class C (with sales charge)</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.29</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.15</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.17</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Global Aggregate Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.69</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.96</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.15</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>MSCI All Country World Index-NR</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17.49</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">10.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">9.23</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Multiverse Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.34</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.76</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.35</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Blended Benchmark</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^†</span> </div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">7.78</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.22</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.91</span></div> </td> </tr> </table></div> Class C -0.0033 -0.0115 0.0017 Class C (with sales charge) -0.0129 -0.0115 0.0017 Bloomberg Global Aggregate Index -0.0169 -0.0196 0.0015 MSCI All Country World Index-NR 0.1749 0.1006 0.0923 Bloomberg Multiverse Index -0.0134 -0.0176 0.0035 Blended Benchmark 0.0778 0.0422 0.0491 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For current month-end performance, please call Franklin Templeton at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">(800) DIAL BEN/342-5236 or visit </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/investments/options/mutual-funds</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Important data provider notices and terms available at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">www.franklintempletondatasources.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$291,702,427</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^*</span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">126</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Management Fee Paid</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$2,228,238</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">43.31%</span></div> </td> </tr> </table></div> 291702427 126 2228238 0.4331 <div><img alt="image" src="ts2498img004.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 10000 9669 10154 11274 10120 10783 10856 10598 9042 10209 10175 10000 9685 9887 10618 10490 11208 12238 11662 9767 10326 10151 10000 9764 10531 13056 11827 14973 17406 20633 16844 20584 24183 10000 9671 9946 10710 10565 11318 12339 11783 9896 10494 10354 10000 9738 10273 11874 11250 13131 14869 15842 13150 14984 16150 0.245 0.112 0.063 0.055 0.048 0.036 0.028 0.025 0.024 0.024 0.024 0.023 0.022 0.022 0.021 0.020 0.017 0.015 0.015 0.090 0.071 Templeton Global Balanced Fund Class C1 TCINX 2024-12-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Templeton Global Balanced Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">January 1, 2024, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 31, 2024.</span> annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">(800) DIAL BEN/342-5236</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents (800) DIAL BEN/342-5236 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST YEAR? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">^*</span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class C1</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$160</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.60%</span></div> </td> </tr> </table></div> 160 0.0160 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?</b></span></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For the twelve months ended December 31, 2024, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Class C1 shares of Templeton Global Balanced Fund returned </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">0.05%. The Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.</span></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>PERFORMANCE HIGHLIGHTS</b></span></span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top contributors to performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">sovereign credit.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In currencies, underweighted exposure to the euro contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">year.</span></div> </td> </tr> </table></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top detractors from performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">detracted from relative performance.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.</span></div> </td> </tr> </table></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Use of derivatives and the impact on performance:</b></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">were used to manage duration exposure, which also detracted from performance.</span></div> The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The graph and table </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.</span> <div><img alt="image" src="ts2502img003.jpg" style="width:88.88888888888889%"/></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>AVERAGE ANNUAL TOTAL RETURNS (%) </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">Period Ended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;margin-left:7.75pt;border-bottom:1.5pt solid #778B8B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:47.530575539568346%;"></td> <td style="height:1px;width:17.489208633093526%;"></td> <td style="height:1px;width:17.140287769784173%;"></td> <td style="height:1px;width:17.83992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>1 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>5 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>10 Year</b></span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class C1</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.05</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.79</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.54</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class C1 (with sales charge)</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.91</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.79</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.54</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Global Aggregate Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.69</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.96</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.15</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>MSCI All Country World Index-NR</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17.49</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">10.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">9.23</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Multiverse Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.34</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.76</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.35</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Blended Benchmark</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^†</span> </div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">7.78</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.22</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.91</span></div> </td> </tr> </table></div> Class C1 0.0005 -0.0079 0.0054 Class C1 (with sales charge) -0.0091 -0.0079 0.0054 Bloomberg Global Aggregate Index -0.0169 -0.0196 0.0015 MSCI All Country World Index-NR 0.1749 0.1006 0.0923 Bloomberg Multiverse Index -0.0134 -0.0176 0.0035 Blended Benchmark 0.0778 0.0422 0.0491 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For current month-end performance, please call Franklin Templeton at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">(800) DIAL BEN/342-5236 or visit </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/investments/options/mutual-funds</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Important data provider notices and terms available at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">www.franklintempletondatasources.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$291,702,427</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^*</span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">126</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Management Fee Paid</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$2,228,238</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">43.31%</span></div> </td> </tr> </table></div> 291702427 126 2228238 0.4331 <div><img alt="image" src="ts2502img004.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 10000 9736 10216 11412 10284 10986 11097 10869 9281 10553 10558 10000 9685 9887 10618 10490 11208 12238 11662 9767 10326 10151 10000 9764 10531 13056 11827 14973 17406 20633 16844 20584 24183 10000 9671 9946 10710 10565 11318 12339 11783 9896 10494 10354 10000 9738 10273 11874 11250 13131 14869 15842 13150 14984 16150 0.245 0.112 0.063 0.055 0.048 0.036 0.028 0.025 0.024 0.024 0.024 0.023 0.022 0.022 0.021 0.020 0.017 0.015 0.015 0.090 0.071 Templeton Global Balanced Fund Class R true 2024-12-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Templeton Global Balanced Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">January 1, 2024, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 31, 2024.</span> annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">(800) DIAL BEN/342-5236</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents (800) DIAL BEN/342-5236 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST YEAR? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">^*</span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class R</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$145</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.45%</span></div> </td> </tr> </table></div> 145 0.0145 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?</b></span></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For the twelve months ended December 31, 2024, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Class R shares of Templeton Global Balanced Fund returned </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">0.21%. The Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.</span></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>PERFORMANCE HIGHLIGHTS</b></span></span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top contributors to performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">sovereign credit.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In currencies, underweighted exposure to the euro contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">year.</span></div> </td> </tr> </table></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top detractors from performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">detracted from relative performance.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.</span></div> </td> </tr> </table></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Use of derivatives and the impact on performance:</b></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">were used to manage duration exposure, which also detracted from performance.</span></div> The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The graph and table </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.</span> <div><img alt="image" src="ts2504img003.jpg" style="width:88.88888888888889%"/></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>AVERAGE ANNUAL TOTAL RETURNS (%) </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">Period Ended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;margin-left:7.75pt;border-bottom:1.5pt solid #778B8B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:47.530575539568346%;"></td> <td style="height:1px;width:17.489208633093526%;"></td> <td style="height:1px;width:17.140287769784173%;"></td> <td style="height:1px;width:17.83992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>1 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>5 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>10 Year</b></span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class R</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.21</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.57</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.70</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Global Aggregate Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.69</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.96</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.15</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>MSCI All Country World Index-NR</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17.49</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">10.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">9.23</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Multiverse Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.34</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.76</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.35</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Blended Benchmark</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^†</span> </div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">7.78</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.22</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.91</span></div> </td> </tr> </table></div> Class R 0.0021 -0.0057 0.0070 Bloomberg Global Aggregate Index -0.0169 -0.0196 0.0015 MSCI All Country World Index-NR 0.1749 0.1006 0.0923 Bloomberg Multiverse Index -0.0134 -0.0176 0.0035 Blended Benchmark 0.0778 0.0422 0.0491 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For current month-end performance, please call Franklin Templeton at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">(800) DIAL BEN/342-5236 or visit </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/investments/options/mutual-funds</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Important data provider notices and terms available at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">www.franklintempletondatasources.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$291,702,427</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^*</span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">126</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Management Fee Paid</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$2,228,238</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">43.31%</span></div> </td> </tr> </table></div> 291702427 126 2228238 0.4331 <div><img alt="image" src="ts2504img004.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 10000 9720 10244 11457 10349 11038 11224 11025 9396 10704 10726 10000 9685 9887 10618 10490 11208 12238 11662 9767 10326 10151 10000 9764 10531 13056 11827 14973 17406 20633 16844 20584 24183 10000 9671 9946 10710 10565 11318 12339 11783 9896 10494 10354 10000 9738 10273 11874 11250 13131 14869 15842 13150 14984 16150 0.245 0.112 0.063 0.055 0.048 0.036 0.028 0.025 0.024 0.024 0.024 0.023 0.022 0.022 0.021 0.020 0.017 0.015 0.015 0.090 0.071 Templeton Global Balanced Fund Class R6 FGGBX 2024-12-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Templeton Global Balanced Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">January 1, 2024, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 31, 2024.</span> annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">(800) DIAL BEN/342-5236</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents (800) DIAL BEN/342-5236 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST YEAR? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">^*</span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class R6</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$88</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.88%</span></div> </td> </tr> </table></div> 88 0.0088 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?</b></span></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For the twelve months ended December 31, 2024, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Class R6 shares of Templeton Global Balanced Fund returned </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">0.79%. The Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended Benchmark†, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.</span></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>PERFORMANCE HIGHLIGHTS</b></span></span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top contributors to performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">sovereign credit.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In currencies, underweighted exposure to the euro contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">year.</span></div> </td> </tr> </table></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top detractors from performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">detracted from relative performance.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.</span></div> </td> </tr> </table></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Use of derivatives and the impact on performance:</b></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">were used to manage duration exposure, which also detracted from performance.</span></div> The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The graph and table </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.</span> <div><img alt="image" src="ts2500img003.jpg" style="width:88.88888888888889%"/></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>AVERAGE ANNUAL TOTAL RETURNS (%) </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">Period Ended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;margin-left:7.75pt;border-bottom:1.5pt solid #778B8B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:47.530575539568346%;"></td> <td style="height:1px;width:17.489208633093526%;"></td> <td style="height:1px;width:17.140287769784173%;"></td> <td style="height:1px;width:17.83992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>1 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>5 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>10 Year</b></span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Class R6</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.79</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.27</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Global Aggregate Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.69</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.96</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.15</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>MSCI All Country World Index-NR</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17.49</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">10.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">9.23</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Multiverse Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.34</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.76</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.35</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Blended Benchmark</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^†</span> </div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">7.78</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.22</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.91</span></div> </td> </tr> </table></div> Class R6 0.0079 -0.0006 0.0127 Bloomberg Global Aggregate Index -0.0169 -0.0196 0.0015 MSCI All Country World Index-NR 0.1749 0.1006 0.0923 Bloomberg Multiverse Index -0.0134 -0.0176 0.0035 Blended Benchmark 0.0778 0.0422 0.0491 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For current month-end performance, please call Franklin Templeton at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">(800) DIAL BEN/342-5236 or visit </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/investments/options/mutual-funds</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Important data provider notices and terms available at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">www.franklintempletondatasources.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$291,702,427</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^*</span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">126</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Management Fee Paid</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$2,228,238</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">43.31%</span></div> </td> </tr> </table></div> 291702427 126 2228238 0.4331 <div><img alt="image" src="ts2500img004.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 10000 9778 10367 11670 10609 11386 11599 11461 9868 11261 11349 10000 9685 9887 10618 10490 11208 12238 11662 9767 10326 10151 10000 9764 10531 13056 11827 14973 17406 20633 16844 20584 24183 10000 9671 9946 10710 10565 11318 12339 11783 9896 10494 10354 10000 9738 10273 11874 11250 13131 14869 15842 13150 14984 16150 0.245 0.112 0.063 0.055 0.048 0.036 0.028 0.025 0.024 0.024 0.024 0.023 0.022 0.022 0.021 0.020 0.017 0.015 0.015 0.090 0.071 Templeton Global Balanced Fund Advisor Class TZINX 2024-12-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Templeton Global Balanced Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">January 1, 2024, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 31, 2024.</span> annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">(800) DIAL BEN/342-5236</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents (800) DIAL BEN/342-5236 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST YEAR? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">^*</span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Advisor Class</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$95</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.95%</span></div> </td> </tr> </table></div> 95 0.0095 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?</b></span></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For the twelve months ended December 31, 2024, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Advisor Class shares of Templeton Global Balanced Fund returned </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">0.70%. The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Fund compares its performance to the MSCI All Country World Index-NR, the Bloomberg Multiverse Index and the Blended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Benchmark†, which returned 17.49%, -1.34% and 7.78%, respectively, for the same period.</span></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>PERFORMANCE HIGHLIGHTS</b></span></span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top contributors to performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Interest rate strategies contributed to relative performance for the fixed interest portion of the Fund. Overweighted duration </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">exposures in Egypt, South Africa, India and Kazakhstan contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Overall credit exposures contributed to relative returns, due to overweight positions in USD-denominated sub-investment grade </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">sovereign credit.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In currencies, underweighted exposure to the euro contributed to relative returns.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#30DB87;;">↑</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In the equity portfolio, stock selection in financials, consumer staples and health care contributed to relative performance for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">year.</span></div> </td> </tr> </table></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;padding-bottom:2pt;padding-top:0pt;margin-left:7.75pt;"> <tr style="height:1px;"> <td style="height:1px;width:1.8507194244604317%;"></td> <td style="height:1px;width:98.14928057553956%;"></td> </tr> <tr> <td colspan="2" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Top detractors from performance:</b></span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Currency positions across regions detracted from performance, including the Japanese yen, South Korean won, Kazakhstani </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">tenge, Brazilian real, Mexican peso, Colombian peso, Australian dollar, Hungarian forint and Egyptian pound.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">In interest rate strategies, underweighted duration exposure to China and overweighted duration exposure to Brazil also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">detracted from relative performance.</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#CA0046;;">↓</span></div> </td> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">An underweight and stock selection in the information technology sector was the primary detractor from equity returns, with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">limited exposure to rallying U.S. mega-cap tech stocks a major headwind to relative performance.</span></div> </td> </tr> </table></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Use of derivatives and the impact on performance:</b></span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The Fund utilized foreign exchange forwards and written and purchased currency options to gain additional exposure to currencies. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Given that the USD appreciated against most currencies in 2024, these derivatives detracted from performance. Interest rate swaps </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">were used to manage duration exposure, which also detracted from performance.</span></div> The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">The graph and table </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.</span> <div><img alt="image" src="ts2503img003.jpg" style="width:88.88888888888889%"/></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#161616;;"><b>AVERAGE ANNUAL TOTAL RETURNS (%) </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">Period Ended </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;margin-left:7.75pt;border-bottom:1.5pt solid #778B8B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:47.530575539568346%;"></td> <td style="height:1px;width:17.489208633093526%;"></td> <td style="height:1px;width:17.140287769784173%;"></td> <td style="height:1px;width:17.83992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>1 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>5 Year</b></span></div> </td> <td colspan="1" style="border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>10 Year</b></span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Advisor Class</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.70</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-0.16</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:0.5pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.20</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Global Aggregate Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.69</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.96</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.15</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>MSCI All Country World Index-NR</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17.49</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">10.06</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">9.23</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Bloomberg Multiverse Index</b></span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.34</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-1.76</span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #778B8B;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.35</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Blended Benchmark</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^†</span> </div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">7.78</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.22</span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">4.91</span></div> </td> </tr> </table></div> Advisor Class 0.0070 -0.0016 0.0120 Bloomberg Global Aggregate Index -0.0169 -0.0196 0.0015 MSCI All Country World Index-NR 0.1749 0.1006 0.0923 Bloomberg Multiverse Index -0.0134 -0.0176 0.0035 Blended Benchmark 0.0778 0.0422 0.0491 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">For current month-end performance, please call Franklin Templeton at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">(800) DIAL BEN/342-5236 or visit </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/investments/options/mutual-funds</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">Important data provider notices and terms available at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">www.franklintempletondatasources.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">.</span></div> <div></div> <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">December 31, 2024)</span></div> <div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$291,702,427</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;">^*</span> </div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">126</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Management Fee Paid</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$2,228,238</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">43.31%</span></div> </td> </tr> </table></div> 291702427 126 2228238 0.4331 <div><img alt="image" src="ts2503img004.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 10000 9803 10343 11627 10559 11359 11558 11410 9776 11192 11269 10000 9685 9887 10618 10490 11208 12238 11662 9767 10326 10151 10000 9764 10531 13056 11827 14973 17406 20633 16844 20584 24183 10000 9671 9946 10710 10565 11318 12339 11783 9896 10494 10354 10000 9738 10273 11874 11250 13131 14869 15842 13150 14984 16150 0.245 0.112 0.063 0.055 0.048 0.036 0.028 0.025 0.024 0.024 0.024 0.023 0.022 0.022 0.021 0.020 0.017 0.015 0.015 0.090 0.071 *Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. †The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index. *Does not include derivatives, except purchased options, if any.   *Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. †The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index. *Does not include derivatives, except purchased options, if any.   *Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. †The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index. *Does not include derivatives, except purchased options, if any.   *Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. †The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index. *Does not include derivatives, except purchased options, if any.   *Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. †The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index. *Does not include derivatives, except purchased options, if any.   *Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. †The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index. *Does not include derivatives, except purchased options, if any.   *Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. †The Fund’s Blended Benchmark is comprised of 50% MSCI All Country World Index-NR and 50% Bloomberg Multiverse Index. *Does not include derivatives, except purchased options, if any.