To seek to maximise income and growth of capital (total return) while aiming for a steady dividend distribution. Specifically, the Fund aims that at least half of the dividends derives from the portfolio's income. The Fund mainly invests, directly or indirectly through derivatives and other Funds, in equities, corporate and government bonds and other asset classes, such as real estate and commodities. These investments may be of any market capitalisation and from anywhere in the world, including emerging markets, and some of the bond investments may be below investment grade.

Considering the investment objectives, the Fund may appeal to Investors looking:

• for capital appreciation and income by investing in a diversified portfolio of equity and debt securities worldwide
• to invest for the medium to long-term

The Fund promotes environmental and social characteristics in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (the “SFDR”). 

The Fund promotes the reduction of greenhouse gas (“GHG”) emissions and increase in board gender diversity in the Fund’s portfolio through engagement with poor performers and positively tilting the portfolio towards stronger performers in terms of these metrics. 

The Fund’s environmental or social characteristics are assessed both quantitatively and qualitatively, by means of sustainability indicators as well as of the Investment Managers’ research and engagement process further described in the Website disclosure’s dedicated sections. As part of its investment decision making process, the Fund’s ESG strategy also uses binding criteria for the selection of underlying assets and applies specific ESG exclusions. 

This financial product promotes environmental and social characteristics but does not have as its objective a sustainable investment. 

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This fund offers a consistent payout that is derived primarily from income and dividends, but also may include capital gains. Managers have established targets for the fund's annual distribution which is currently set at 4.00%*. The fund also includes a target level of risk which is 50% of Global Equities as measured by MSCI All Country World Index (ACWI). 

* As of June 30, 2023

The value of shares in the Fund and income received from it can go down as well as up and investors may not get back the full amount invested. Performance may also be affected by currency fluctuations. Currency fluctuations may affect the value of overseas investments.

• The Fund invests directly or indirectly (through financial derivative instruments, structured products or collective investment schemes) in equity and fixed income securities, and (indirectly only) alternative investments (including commodities or property). Such securities and investment instruments have historically been subject to price movements due to such factors as general stock market volatility, sudden changes in interest rates, changes in the financial outlook or perceived credit worthiness of securities issuers, or fluctuations in commodity prices or real estate values. As a result, the performance of the Fund can fluctuate over time.
• The Fund may distribute income gross of expenses. Whilst this might allow more income to be distributed, it may also have the effect of reducing capital.
• Other significant risks include: 
  Credit risk: the risk of loss arising from default that may occur if an issuer fails to make principal or interest payments when due. This risk is higher if the Fund holds low-rated, sub-investment-grade securities. 
  Foreign Currency risk: the risk of loss arising from exchange-rate fluctuations or due to exchange control regulations. 
  Derivative Instruments risk: the risk of loss in an instrument where a small change in the value of the underlying investment may have a larger impact on the value of such instrument. Derivatives may involve additional liquidity, credit and counterparty risks. 
  Emerging markets risk: the risk related to investing in countries that have less developed political, economic, legal and regulatory systems, and that may be impacted by political/economic instability, lack of liquidity or transparency, or safekeeping issues. 
  Liquidity risk: the risk that arises when adverse market conditions affect the ability to sell assets when necessary. Such risk may be triggered by (but not limited to) unexpected events such as environmental disasters or pandemics. Reduced liquidity may have a negative impact on the price of the assets. 
  Multi-Manager risk: the risk that independent decisions of Investment Co-Managers may conflict with one another thus resulting in loss of efficiency.

For full details of all of the risks applicable to this Fund, please refer to the “Risk Considerations” section of the Fund in the current prospectus of Franklin Templeton Investment Funds.