FEMGX : Templeton Emerging Markets Bond Fund Class A

Fund Summary

The investment seeks current income with capital appreciation as a secondary goal. The fund invests at least 80% of its net assets in a non-diversified portfolio of bonds issued by governments or government-related entities that are located in "emerging market countries," as well as bonds issued by "emerging market corporate entities." For purposes of pursuing its investment goals, the fund regularly enters into various currency related transactions involving derivative instruments, principally currency and cross currency forwards, but it may also use currency and currency index futures contracts. It is non-diversified.