Franklin Templeton Variable Insurance Products Trust

12/15/2025 | Press release | Distributed by Public on 12/15/2025 15:03

Summary Prospectus by Investment Company (Form 497K)

GOF-P42 12/25

FRANKLIN TEMPLETON ETF TRUST
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
TEMPLETON INSTITUTIONAL FUNDS
SUPPLEMENT DATED DECEMBER 15, 2025
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
OF EACH FUND LISTED IN SCHEDULE A

The following supersedes any and all disclosure to the contrary in the Summary Prospectus, Prospectus and SAI of each fund listed in Schedule A:

The portfolio managers primarily responsible for the day-to-day management of the fund are Peter A. Nori, CFA and Heather Abdinoor, CFA.

SCHEDULE A

Fund

Date of Summary Prospectus, Prospectus and SAI

FRANKLIN TEMPLETON ETF TRUST

Templeton International Insights ETF

October 21, 2025

FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST

May 1, 2025

Templeton Foreign VIP Fund

TEMPLETON INSTITUTIONAL FUNDS

International Equity Series

May 1, 2025

Please retain this supplement for future reference.

Franklin Templeton Variable Insurance Products Trust published this content on December 15, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 15, 2025 at 21:04 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]