The Simple Way to Invest
Franklin NextStep Funds

You've worked hard for your money. The next step is getting your money to work for you. But building a comprehensive investment portfolio is no easy task. Franklin NextStep Funds offer three diversified portfolios that can be matched to investors based on their goals and risk tolerance.

About Franklin NextStep Funds

Why Invest in Franklin NextStep Funds

Simplicity

Simplicity

All-in-one portfolios targeted to three levels of risk

Diversification

Diversification

A broad mix of investments across fund managers, asset classes and countries

Expertise

Expertise

Professionally managed to navigate the ups and downs of the market

Franklin NextStep Fund Information

Franklin Nextstep Conservative fund overview

About the fund

The fund is designed for investors seeking the highest level of long-term total return that is consistent with a conservative level of risk. This fund may be most appropriate for investors seeking to reduce market volatility or who have a shorter time period to invest.

Key Stats

Inception Date1
02/05/2016
Dividend Frequency
Quarterly
Benchmark
  • {{ benchmark }}

Share Class Advisor
CUSIP
{{ identifiers.Z.identifiers.CUSIP }}
Ticker
FNCVX

Management

Thomas Nelson, CFA®

In industry since 1991, with
Franklin Templeton since 2007

Stephen Lingard, MBA, CFA®

In industry since 1994, with
Franklin Templeton since 2007

A Few More Words About Asset Allocation

Footnotes
  1. Effective June 15, 2016 the fund began offering Advisor Class shares. Performance quotations for this class have been calculated as follows: (a) for periods prior to June 15, 2016, a restated figure is used based on the fund's Class A performance, excluding the effect of Class A's maximum initial sales charge but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after June 15, 2016, actual Advisor Class performance is used, reflecting all charges and fees applicable to that class.

Franklin Nextstep Conservative fund portfolio1

ASSET ALLOCATION
As of {{assetAllocation.asOfDate}}
GEOGRAPHIC BREAKDOWN ({{geographicBreakDown.breakdown.0.calcType}})
As of {{geographicBreakDown.asOfDate}}
TOP TEN HOLDINGS ({{topTenHoldings.holdings.0.calcType}})
As of {{topTenHoldings.asOfDate}}
Footnotes
  1. Portfolio holdings are subject to change. The asset class and geographic breakdown of each underlying fund is based on its predominant investments under normal market conditions. Figures shown reflect certain derivatives held in the portfolio (or their underlying reference assets) and may not total 100% or may be negative due to rounding, use of derivatives, unsettled trades or other factors.

Franklin Nextstep Conservative fund performance

Share Class Advisor
As Of {{performance.Z.navAsOfDate}}

POP2

Average Annual total returns (%)

Quarter End
As of {{dates.quarterlyAsOfDate}}
YTD1 YR3 YR5 YR10 YRSince
inception

{{dates.quarterlyInceptionDate}}
Share Class AWithout Sales Charge{{performance.A.quarterlyYtdWithoutSalesCharge}}{{performance.A.quarterly1YearWithoutSalesCharge}}{{performance.A.quarterly3YearsWithoutSalesCharge}}{{performance.A.quarterly5YearsWithoutSalesCharge}}{{performance.A.quarterly10YearsWithoutSalesCharge}}{{performance.A.quarterlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.A.quarterlyYtdWithSalesCharge}}{{performance.A.quarterly1YearWithSalesCharge}}{{performance.A.quarterly3YearsWithSalesCharge}}{{performance.A.quarterly5YearsWithSalesCharge}}{{performance.A.quarterly10YearsWithSalesCharge}}{{performance.A.quarterlySinceInceptionWithSalesCharge}}
Share Class CWithout Sales Charge{{performance.C.quarterlyYtdWithoutSalesCharge}}{{performance.C.quarterly1YearWithoutSalesCharge}}{{performance.C.quarterly3YearsWithoutSalesCharge}}{{performance.C.quarterly5YearsWithoutSalesCharge}}{{performance.C.quarterly10YearsWithoutSalesCharge}}{{performance.C.quarterlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.C.quarterlyYtdWithSalesCharge}}{{performance.C.quarterly1YearWithSalesCharge}}{{performance.C.quarterly3YearsWithSalesCharge}}{{performance.C.quarterly5YearsWithSalesCharge}}{{performance.C.quarterly10YearsWithSalesCharge}}{{performance.C.quarterlySinceInceptionWithSalesCharge}}
Share Class Advisor3
{{performance.A.bmName}}{{performance.A.bmYtd}}{{performance.A.bmQuarterlyAvgAnnual1Year}}{{performance.A.bmQuarterlyAvgAnnual3Years}}{{performance.A.bmQuarterlyAvgAnnual5Years}}{{performance.A.bmQuarterlyAvgAnnual10Years}}
Month End
As of {{dates.monthlyAsOfDate}}
YTD1 YR3 YR5 YR10 YRSince
inception

{{dates.monthlyInceptionDate}}
Share Class AWithout Sales Charge{{performance.A.monthlyYtdWithoutSalesCharge}}{{performance.A.monthly1YearWithoutSalesCharge}}{{performance.A.monthly3YearsWithoutSalesCharge}}{{performance.A.monthly5YearsWithoutSalesCharge}}{{performance.A.monthly10YearsWithoutSalesCharge}}{{performance.A.monthlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.A.monthlyYtdWithSalesCharge}}{{performance.A.monthly1YearWithSalesCharge}}{{performance.A.monthly3YearsWithSalesCharge}}{{performance.A.monthly5YearsWithSalesCharge}}{{performance.A.monthly10YearsWithSalesCharge}}{{performance.A.monthlySinceInceptionWithSalesCharge}}
Share Class CWithout Sales Charge{{performance.C.monthlyYtdWithoutSalesCharge}}{{performance.C.monthly1YearWithoutSalesCharge}}{{performance.C.monthly3YearsWithoutSalesCharge}}{{performance.C.monthly5YearsWithoutSalesCharge}}{{performance.C.monthly10YearsWithoutSalesCharge}}{{performance.C.monthlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.C.monthlyYtdWithSalesCharge}}{{performance.C.monthly1YearWithSalesCharge}}{{performance.C.monthly3YearsWithSalesCharge}}{{performance.C.monthly5YearsWithSalesCharge}}{{performance.C.monthly10YearsWithSalesCharge}}{{performance.C.monthlySinceInceptionWithSalesCharge}}
Share Class Advisor3{{performance.Z.monthlyYtdWithSalesCharge}}{{performance.Z.monthly1YearWithSalesCharge}}{{performance.Z.monthly3YearsWithSalesCharge}}{{performance.Z.monthly5YearsWithSalesCharge}}{{performance.Z.monthly10YearsWithSalesCharge}}{{performance.Z.monthlySinceInceptionWithSalesCharge}}
{{performance.A.bmName}}{{performance.A.bmYtd}}{{performance.A.bmAvgAnnual1Year}}{{performance.A.bmAvgAnnual3Years}}{{performance.A.bmAvgAnnual5Years}}{{performance.A.bmAvgAnnual10Years}}

Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares.

The blended benchmark for the Franklin NextStep Conservative Fund is 60% Bloomberg Barclays U.S. Aggregate Bond, 15% Bloomberg Barclays Multiverse exUSD (hedged to USD), 15% S&P 500, 10% MSCI ACWI ex U.S.

Sales Charges, Expenses & Fees

Share Class Advisor
As of {{dates.monthlyAsOfDate}}
Gross Expense Ratio4,5{{#us-charges}}{{ funds.Z.charges.grossExpenseRatio }}{{/us-charges}}
Net Expense Ratio5{{#us-charges}}{{ funds.Z.charges.netExpenseRatio }}{{/us-charges}}
Maximum Initial Sales Charge{{#us-charges}}{{ funds.Z.charges.maximumInitialSalesCharge }}{{/us-charges}}
Contingent Deferred Sales Charge{{#us-charges}}{{ funds.Z.charges.CDSC }}{{/us-charges}}
Footnotes
  1. Net Asset Value – The amount per share you would receive if you sold shares that day.
  2. Public Offering Price – Purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.
  3. Effective June 15, 2016 the fund began offering Advisor Class shares. Performance quotations for this class have been calculated as follows: (a) for periods prior to June 15, 2016, a restated figure is used based on the fund's Class A performance, excluding the effect of Class A's maximum initial sales charge but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after June 15, 2016, actual Advisor Class performance is used, reflecting all charges and fees applicable to that class.
  4. The fund has an expense reduction contractually guaranteed through September 30, 2018. Fund investment results reflect the expense reduction; without this reduction, the results would have been lower.
  5. The expense ratio for this fund includes estimated indirect expenses of its underlying funds. Annual fund operating expenses are based on estimated amounts for the current fiscal year.
  6. There is a 1% contingent deferred sales charge that applies to investments of $1 million or more and purchases by certain retirement plans without an initial sales charge.

Franklin Nextstep Conservative fund resources

Fund Literature

Fund Fact Sheet
Brochure
Portfolio Holdings
NextStep Year-to-Date Distributions

Fund Documents

Annual Report
Semiannual Report
Summary Prospectus
Prospectus
XBRL File

You need Adobe Acrobat Reader 6.0 or higher to view and print PDF documents. Download free version from Adobe's website.

Franklin Nextstep Moderate fund overview

About the fund

The fund is designed for investors seeking the highest level of long-term total return that is consistent with a moderate level of risk. This fund may be most appropriate for investors seeking long-term growth and a balanced approach to total return and risk.

Key Stats

Inception Date1
02/05/2016
Dividend Frequency
Quarterly
Benchmark
  • {{ benchmark }}

Share Class Advisor
CUSIP
{{ identifiers.Z.identifiers.CUSIP }}
Ticker
FNMZX

Management

Thomas Nelson, CFA®

In industry since 1991, with
Franklin Templeton since 2007

Stephen Lingard, MBA, CFA®

In industry since 1994, with
Franklin Templeton since 2007

A Few More Words About Asset Allocation

Footnotes
  1. Effective June 15, 2016 the fund began offering Advisor Class shares. Performance quotations for this class have been calculated as follows: (a) for periods prior to June 15, 2016, a restated figure is used based on the fund's Class A performance, excluding the effect of Class A's maximum initial sales charge but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after June 15, 2016, actual Advisor Class performance is used, reflecting all charges and fees applicable to that class.

Franklin Nextstep Moderate fund portfolio1

ASSET ALLOCATION
As of {{assetAllocation.asOfDate}}
GEOGRAPHIC BREAKDOWN ({{geographicBreakDown.breakdown.0.calcType}})
As of {{geographicBreakDown.asOfDate}}
TOP TEN HOLDINGS ({{topTenHoldings.holdings.0.calcType}})
As of {{topTenHoldings.asOfDate}}
Footnotes
  1. Portfolio holdings are subject to change. The asset class and geographic breakdown of each underlying fund is based on its predominant investments under normal market conditions. Figures shown reflect certain derivatives held in the portfolio (or their underlying reference assets) and may not total 100% or may be negative due to rounding, use of derivatives, unsettled trades or other factors.

Franklin Nextstep Moderate fund performance

Share Class Advisor
As Of {{performance.Z.navAsOfDate}}

POP2

Average Annual total returns (%)

Quarter End
As of {{dates.quarterlyAsOfDate}}
YTD1 YR3 YR5 YR10 YRSince
inception

{{dates.quarterlyInceptionDate}}
Share Class AWithout Sales Charge{{performance.A.quarterlyYtdWithoutSalesCharge}}{{performance.A.quarterly1YearWithoutSalesCharge}}{{performance.A.quarterly3YearsWithoutSalesCharge}}{{performance.A.quarterly5YearsWithoutSalesCharge}}{{performance.A.quarterly10YearsWithoutSalesCharge}}{{performance.A.quarterlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.A.quarterlyYtdWithSalesCharge}}{{performance.A.quarterly1YearWithSalesCharge}}{{performance.A.quarterly3YearsWithSalesCharge}}{{performance.A.quarterly5YearsWithSalesCharge}}{{performance.A.quarterly10YearsWithSalesCharge}}{{performance.A.quarterlySinceInceptionWithSalesCharge}}
Share Class CWithout Sales Charge{{performance.C.quarterlyYtdWithoutSalesCharge}}{{performance.C.quarterly1YearWithoutSalesCharge}}{{performance.C.quarterly3YearsWithoutSalesCharge}}{{performance.C.quarterly5YearsWithoutSalesCharge}}{{performance.C.quarterly10YearsWithoutSalesCharge}}{{performance.C.quarterlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.C.quarterlyYtdWithSalesCharge}}{{performance.C.quarterly1YearWithSalesCharge}}{{performance.C.quarterly3YearsWithSalesCharge}}{{performance.C.quarterly5YearsWithSalesCharge}}{{performance.C.quarterly10YearsWithSalesCharge}}{{performance.C.quarterlySinceInceptionWithSalesCharge}}
Share Class Advisor3
{{performance.A.bmName}}{{performance.A.bmYtd}}{{performance.A.bmQuarterlyAvgAnnual1Year}}{{performance.A.bmQuarterlyAvgAnnual3Years}}{{performance.A.bmQuarterlyAvgAnnual5Years}}{{performance.A.bmQuarterlyAvgAnnual10Years}}
Month End
As of {{dates.monthlyAsOfDate}}
YTD1 YR3 YR5 YR10 YRSince
inception

{{dates.monthlyInceptionDate}}
Share Class AWithout Sales Charge{{performance.A.monthlyYtdWithoutSalesCharge}}{{performance.A.monthly1YearWithoutSalesCharge}}{{performance.A.monthly3YearsWithoutSalesCharge}}{{performance.A.monthly5YearsWithoutSalesCharge}}{{performance.A.monthly10YearsWithoutSalesCharge}}{{performance.A.monthlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.A.monthlyYtdWithSalesCharge}}{{performance.A.monthly1YearWithSalesCharge}}{{performance.A.monthly3YearsWithSalesCharge}}{{performance.A.monthly5YearsWithSalesCharge}}{{performance.A.monthly10YearsWithSalesCharge}}{{performance.A.monthlySinceInceptionWithSalesCharge}}
Share Class CWithout Sales Charge{{performance.C.monthlyYtdWithoutSalesCharge}}{{performance.C.monthly1YearWithoutSalesCharge}}{{performance.C.monthly3YearsWithoutSalesCharge}}{{performance.C.monthly5YearsWithoutSalesCharge}}{{performance.C.monthly10YearsWithoutSalesCharge}}{{performance.C.monthlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.C.monthlyYtdWithSalesCharge}}{{performance.C.monthly1YearWithSalesCharge}}{{performance.C.monthly3YearsWithSalesCharge}}{{performance.C.monthly5YearsWithSalesCharge}}{{performance.C.monthly10YearsWithSalesCharge}}{{performance.C.monthlySinceInceptionWithSalesCharge}}
Share Class Advisor3{{performance.Z.monthlyYtdWithSalesCharge}}{{performance.Z.monthly1YearWithSalesCharge}}{{performance.Z.monthly3YearsWithSalesCharge}}{{performance.Z.monthly5YearsWithSalesCharge}}{{performance.Z.monthly10YearsWithSalesCharge}}{{performance.Z.monthlySinceInceptionWithSalesCharge}}
{{performance.A.bmName}}{{performance.A.bmYtd}}{{performance.A.bmAvgAnnual1Year}}{{performance.A.bmAvgAnnual3Years}}{{performance.A.bmAvgAnnual5Years}}{{performance.A.bmAvgAnnual10Years}}

Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares.

The blended benchmark for the Franklin NextStep Moderate Fund is 25% Bloomberg Barclays U.S. Aggregate Bond, 15% Bloomberg Barclays Multiverse exUSD (hedged to USD), 35% S&P 500, 25% MSCI ACWI ex U.S.

Sales Charges, Expenses & Fees

Share Class Advisor
As of {{dates.monthlyAsOfDate}}
Gross Expense Ratio4,5{{#us-charges}}{{ funds.Z.charges.grossExpenseRatio }}{{/us-charges}}
Net Expense Ratio5{{#us-charges}}{{ funds.Z.charges.netExpenseRatio }}{{/us-charges}}
Maximum Initial Sales Charge{{#us-charges}}{{ funds.Z.charges.maximumInitialSalesCharge }}{{/us-charges}}
Contingent Deferred Sales Charge{{#us-charges}}{{ funds.Z.charges.CDSC }}{{/us-charges}}
Footnotes
  1. Net Asset Value – The amount per share you would receive if you sold shares that day.
  2. Public Offering Price – Purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.
  3. Effective June 15, 2016 the fund began offering Advisor Class shares. Performance quotations for this class have been calculated as follows: (a) for periods prior to June 15, 2016, a restated figure is used based on the fund's Class A performance, excluding the effect of Class A's maximum initial sales charge but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after June 15, 2016, actual Advisor Class performance is used, reflecting all charges and fees applicable to that class.
  4. The fund has an expense reduction contractually guaranteed through September 30, 2018. Fund investment results reflect the expense reduction; without this reduction, the results would have been lower.
  5. The expense ratio for this fund includes estimated indirect expenses of its underlying funds. Annual fund operating expenses are based on estimated amounts for the current fiscal year.
  6. There is a 1% contingent deferred sales charge that applies to investments of $1 million or more and purchases by certain retirement plans without an initial sales charge.

Franklin Nextstep Moderate fund resources

Fund Literature

Fund Fact Sheet
Brochure
Portfolio Holdings
NextStep Year-to-Date Distributions

Fund Documents

Annual Report
Semiannual Report
Summary Prospectus
Prospectus
XBRL File

You need Adobe Acrobat Reader 6.0 or higher to view and print PDF documents. Download free version from Adobe's website.

Franklin Nextstep Growth fund overview

About the fund

The fund is designed for investors seeking the highest level of long-term total return that is consistent with a growth-oriented level of risk. This fund may be most appropriate for investors seeking strong long-term return potential and are more comfortable with a higher level of volatility - the ups and downs of the market.

Key Stats

Inception Date1
02/05/2016
Dividend Frequency
Quarterly
Benchmark
  • {{ benchmark }}

Share Class Advisor
CUSIP
{{ identifiers.Z.identifiers.CUSIP }}
Ticker
FNGVX

Management

Thomas Nelson, CFA®

In industry since 1991, with
Franklin Templeton since 2007

Stephen Lingard, MBA, CFA®

In industry since 1994, with
Franklin Templeton since 2007

A Few More Words About Asset Allocation

Footnotes
  1. Effective June 15, 2016 the fund began offering Advisor Class shares. Performance quotations for this class have been calculated as follows: (a) for periods prior to June 15, 2016, a restated figure is used based on the fund's Class A performance, excluding the effect of Class A's maximum initial sales charge but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after June 15, 2016, actual Advisor Class performance is used, reflecting all charges and fees applicable to that class.

Franklin Nextstep Growth fund portfolio1

ASSET ALLOCATION
As of {{assetAllocation.asOfDate}}
GEOGRAPHIC BREAKDOWN ({{geographicBreakDown.breakdown.0.calcType}})
As of {{geographicBreakDown.asOfDate}}
TOP TEN HOLDINGS ({{topTenHoldings.holdings.0.calcType}})
As of {{topTenHoldings.asOfDate}}
Footnotes
  1. Portfolio holdings are subject to change. The asset class and geographic breakdown of each underlying fund is based on its predominant investments under normal market conditions. Figures shown reflect certain derivatives held in the portfolio (or their underlying reference assets) and may not total 100% or may be negative due to rounding, use of derivatives, unsettled trades or other factors.

Franklin Nextstep Growth fund performance

Share Class Advisor
As Of {{performance.Z.navAsOfDate}}

POP2

Average Annual total returns (%)

Quarter End
As of {{dates.quarterlyAsOfDate}}
YTD1 YR3 YR5 YR10 YRSince
inception

{{dates.quarterlyInceptionDate}}
Share Class AWithout Sales Charge{{performance.A.quarterlyYtdWithoutSalesCharge}}{{performance.A.quarterly1YearWithoutSalesCharge}}{{performance.A.quarterly3YearsWithoutSalesCharge}}{{performance.A.quarterly5YearsWithoutSalesCharge}}{{performance.A.quarterly10YearsWithoutSalesCharge}}{{performance.A.quarterlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.A.quarterlyYtdWithSalesCharge}}{{performance.A.quarterly1YearWithSalesCharge}}{{performance.A.quarterly3YearsWithSalesCharge}}{{performance.A.quarterly5YearsWithSalesCharge}}{{performance.A.quarterly10YearsWithSalesCharge}}{{performance.A.quarterlySinceInceptionWithSalesCharge}}
Share Class CWithout Sales Charge{{performance.C.quarterlyYtdWithoutSalesCharge}}{{performance.C.quarterly1YearWithoutSalesCharge}}{{performance.C.quarterly3YearsWithoutSalesCharge}}{{performance.C.quarterly5YearsWithoutSalesCharge}}{{performance.C.quarterly10YearsWithoutSalesCharge}}{{performance.C.quarterlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.C.quarterlyYtdWithSalesCharge}}{{performance.C.quarterly1YearWithSalesCharge}}{{performance.C.quarterly3YearsWithSalesCharge}}{{performance.C.quarterly5YearsWithSalesCharge}}{{performance.C.quarterly10YearsWithSalesCharge}}{{performance.C.quarterlySinceInceptionWithSalesCharge}}
Share Class Advisor3
{{performance.A.bmName}}{{performance.A.bmYtd}}{{performance.A.bmQuarterlyAvgAnnual1Year}}{{performance.A.bmQuarterlyAvgAnnual3Years}}{{performance.A.bmQuarterlyAvgAnnual5Years}}{{performance.A.bmQuarterlyAvgAnnual10Years}}
Month End
As of {{dates.monthlyAsOfDate}}
YTD1 YR3 YR5 YR10 YRSince
inception

{{dates.monthlyInceptionDate}}
Share Class AWithout Sales Charge{{performance.A.monthlyYtdWithoutSalesCharge}}{{performance.A.monthly1YearWithoutSalesCharge}}{{performance.A.monthly3YearsWithoutSalesCharge}}{{performance.A.monthly5YearsWithoutSalesCharge}}{{performance.A.monthly10YearsWithoutSalesCharge}}{{performance.A.monthlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.A.monthlyYtdWithSalesCharge}}{{performance.A.monthly1YearWithSalesCharge}}{{performance.A.monthly3YearsWithSalesCharge}}{{performance.A.monthly5YearsWithSalesCharge}}{{performance.A.monthly10YearsWithSalesCharge}}{{performance.A.monthlySinceInceptionWithSalesCharge}}
Share Class CWithout Sales Charge{{performance.C.monthlyYtdWithoutSalesCharge}}{{performance.C.monthly1YearWithoutSalesCharge}}{{performance.C.monthly3YearsWithoutSalesCharge}}{{performance.C.monthly5YearsWithoutSalesCharge}}{{performance.C.monthly10YearsWithoutSalesCharge}}{{performance.C.monthlySinceInceptionWithoutSalesCharge}}
With Sales Charge{{performance.C.monthlyYtdWithSalesCharge}}{{performance.C.monthly1YearWithSalesCharge}}{{performance.C.monthly3YearsWithSalesCharge}}{{performance.C.monthly5YearsWithSalesCharge}}{{performance.C.monthly10YearsWithSalesCharge}}{{performance.C.monthlySinceInceptionWithSalesCharge}}
Share Class Advisor3{{performance.Z.monthlyYtdWithSalesCharge}}{{performance.Z.monthly1YearWithSalesCharge}}{{performance.Z.monthly3YearsWithSalesCharge}}{{performance.Z.monthly5YearsWithSalesCharge}}{{performance.Z.monthly10YearsWithSalesCharge}}{{performance.Z.monthlySinceInceptionWithSalesCharge}}
{{performance.A.bmName}}{{performance.A.bmYtd}}{{performance.A.bmAvgAnnual1Year}}{{performance.A.bmAvgAnnual3Years}}{{performance.A.bmAvgAnnual5Years}}{{performance.A.bmAvgAnnual10Years}}

Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares.

The blended benchmark for the Franklin NextStep Growth Fund is 15% Bloomberg Barclays U.S. Aggregate Bond, 10% Bloomberg Barclays Multiverse exUSD (hedged to USD), 45% S&P 500, 30% MSCI ACWI ex U.S.

Sales Charges, Expenses & Fees

Share Class Advisor
As of {{dates.monthlyAsOfDate}}
Gross Expense Ratio4,5{{#us-charges}}{{ funds.Z.charges.grossExpenseRatio }}{{/us-charges}}
Net Expense Ratio5{{#us-charges}}{{ funds.Z.charges.netExpenseRatio }}{{/us-charges}}
Maximum Initial Sales Charge{{#us-charges}}{{ funds.Z.charges.maximumInitialSalesCharge }}{{/us-charges}}
Contingent Deferred Sales Charge{{#us-charges}}{{ funds.Z.charges.CDSC }}{{/us-charges}}
Footnotes
  1. Net Asset Value – The amount per share you would receive if you sold shares that day.
  2. Public Offering Price – Purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.
  3. Effective June 15, 2016 the fund began offering Advisor Class shares. Performance quotations for this class have been calculated as follows: (a) for periods prior to June 15, 2016, a restated figure is used based on the fund's Class A performance, excluding the effect of Class A's maximum initial sales charge but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after June 15, 2016, actual Advisor Class performance is used, reflecting all charges and fees applicable to that class.
  4. The fund has an expense reduction contractually guaranteed through September 30, 2018. Fund investment results reflect the expense reduction; without this reduction, the results would have been lower.
  5. The expense ratio for this fund includes estimated indirect expenses of its underlying funds. Annual fund operating expenses are based on estimated amounts for the current fiscal year.
  6. There is a 1% contingent deferred sales charge that applies to investments of $1 million or more and purchases by certain retirement plans without an initial sales charge.

Franklin Nextstep Growth fund resources

Fund Literature

Fund Fact Sheet
Brochure
Portfolio Holdings
NextStep Year-to-Date Distributions

Fund Documents

Annual Report
Semiannual Report
Summary Prospectus
Prospectus
XBRL File

You need Adobe Acrobat Reader 6.0 or higher to view and print PDF documents. Download free version from Adobe's website.

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Important Legal Information

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

For more information on any of our funds, contact your financial advisor or download a free prospectus. Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total Returns With Sales Charge: returns reflect the deduction of the stated sales charge. Total returns, distribution rate, and yields reflect any applicable expense reductions, without which the results for those impacted funds would have been lower.

This site is not intended to provide any tax, legal, or investment advice and nothing on this site should be construed as a recommendation for any security, strategy, or asset class. You are solely responsible for determining the suitability of an investment or strategy.

The funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance. In general, Class A shares have a maximum initial sales charge; Class C shares have a 1% contingent deferred sales charge.

Franklin Templeton Distributors, Inc.

For US residents only.

NOT FDIC INSURED ∗ MAY LOSE VALUE ∗ NO BANK GUARANTEE