08/27/2026 | Press release | Distributed by Public on 08/27/2026 07:35
FLSP-P3 08/26
1. Effective August 31, 2026, the following changes are made to the Fund's Summary Prospectus, Prospectus and SAI:
a. The following is added to the section titled "Fund Summary - Portfolio Managers" in the Fund's Summary Prospectus and Prospectus:
Brian Powers, CFA, CMT
Portfolio Manager of Advisers and portfolio manager of the Fund since August 2026.
b. The following is added to the section titled "Fund Details - Management" in the Fund's Prospectus:
Brian Powers, CFA, CMT Portfolio Manager of Advisers
Mr. Powers has been a portfolio manager of the Fund since August 2026. He joined Franklin Templeton in August 2026. Prior to joining Franklin Templeton, Mr. Powers was a senior analyst, asset allocation at Edward Jones.
c. The following is added to the table in the section titled "Management and Other Services - Portfolio managers" in the Fund's SAI:
|
Name |
Type of |
Number of Accounts Managed |
Total Assets Managed (x $1 million) |
Number of Accounts Managed for which Advisory Fee is Performance-Based |
Assets Managed for which Advisory Fee is Performance-Based (x $1 million) |
|
|
Brian Powers* |
Registered Investment Companies |
None |
None |
None |
None |
|
|
Other Pooled Investment Vehicles |
None |
None |
None |
None |
||
|
Other Accounts |
None |
None |
None |
None |
*Information is provided as of July 31, 2026.
d. The following is added to the table in the section titled "Management and Other Services - - Portfolio managers - Ownership of Fund shares" in the Fund's SAI:
|
Portfolio Manager |
Dollar Range of Fund Shares Beneficially Owned |
|
Brian Powers* |
None |
|
*Information is provided as of July 31, 2026 |
2. Effective September 30, 2026, the following supersedes any and all disclosure to the contrary in the Fund's Summary Prospectus, Prospectus and SAI:
The portfolio managers primarily responsible for the day-to-day management of the Fund are Robert Christian, Christopher W. Floyd, CFA, and Brian Powers, CFA, CMT
Please retain this supplement for future reference.