Neaudituota pusmeio ataskaita2017 m. gruodio 31 d.

R.C.S. B35177

Franklin Templeton Investment FundsSOCIT DINVESTISSEMENT CAPITAL VARIABLE

FRANKLIN TEMPLETON INVESTMENT FUNDSsocit dinvestissement capital variable

NEAUDITUOTA PUSMEIO ATASKAITA2017 M. GRUODIO 31 D. PASIBAIGUSIAM LAIKOTARPIUI

i ataskaita nra nei pasilymas, nei oficialus skatinimas pirkti Franklin Templeton Investment Funds (toliau mon) akcijas. Informacija sprendimui dl fondo akcij sigijimo priimti yra pateikta fondo prospekte ir jo priede, pagrindiniame investuotoj informacijos dokumente (KIIDS) (jei yra), naujausioje audituotoje metinje ataskaitoje ir, jeigu paskelbta, naujausioje neaudituotoje pusmeio ataskaitoje.

FRANKLIN TEMPLETON INVESTMENT FUNDS

www.franklintempleton.lu Neaudituota pusmeio ataskaita 3

Turinys

Bendroji informacija 4Direktori valdyba 7Investicij valdytoj ataskaita 9Fond veiklos rezultatai 10Grynj aktyv ataskaita 12Veiklos ir grynj aktyv pokyi ataskaita 28Statistin informacija 45Finansini ataskait pastabos 62Franklin Asia Credit Fund 178Franklin Biotechnology Discovery Fund 180Franklin Brazil Opportunities Fund 182Franklin Diversified Balanced Fund 184Franklin Diversified Conservative Fund 191Franklin Diversified Dynamic Fund 198Franklin Euro Government Bond Fund 203Franklin Euro High Yield Fund 204Franklin Euro Short Duration Bond Fund 208Franklin Euro Short-Term Money Market

Fund 210Franklin European Corporate Bond Fund 211Franklin European Dividend Fund 213Franklin European Growth Fund 215Franklin European Income Fund 217Franklin European Small-Mid Cap

Growth Fund 219Franklin European Total Return Fund 220Franklin Flexible Alpha Bond Fund 221Franklin GCC Bond Fund 227Franklin Global Aggregate Bond Fund 229Franklin Global Aggregate Investment Grade

Bond Fund 231Franklin Global Convertible Securities Fund 232Franklin Global Equity Strategies Fund 234Franklin Global Fundamental Strategies Fund 239Franklin Global Growth Fund 245Franklin Global Listed Infrastructure Fund 247Franklin Global Multi-Asset Income Fund 249Franklin Global Real Estate Fund 255Franklin Global Small-Mid Cap Growth Fund 257Franklin Gold and Precious Metals Fund 258Franklin High Yield Fund 260Franklin Income Fund 265Franklin India Fund 269Franklin Japan Fund 271Franklin K2 Alternative Strategies Fund 273Franklin K2 Global Macro Opportunities

Fund 290Franklin K2 Long Short Credit Fund 291Franklin MENA Fund 295Franklin Natural Resources Fund 297Franklin NextStep Balanced Growth Fund 299Franklin NextStep Conservative Fund 300Franklin NextStep Dynamic Growth Fund 301Franklin NextStep Growth Fund 302Franklin NextStep Moderate Fund 303

Franklin NextStep Stable Growth Fund 304Franklin Strategic Income Fund 305Franklin Technology Fund 317Franklin U.S. Dollar Liquid Reserve Fund 319Franklin U.S. Equity Fund 320Franklin U.S. Government Fund 321Franklin U.S. Low Duration Fund 322Franklin U.S. Opportunities Fund 331Franklin World Perspectives Fund 333Franklin Mutual Beacon Fund 339Franklin Mutual European Fund 342Franklin Mutual Global Discovery Fund 344Templeton Africa Fund 347Templeton Asian Bond Fund 349Templeton Asian Growth Fund 350Templeton Asian Smaller Companies Fund 352Templeton BRIC Fund 355Templeton China Fund 357Templeton Eastern Europe Fund 359Templeton Emerging Markets Fund 361Templeton Emerging Markets Balanced Fund 364Templeton Emerging Markets Bond Fund 368Templeton Emerging Markets Smaller

Companies Fund 371Templeton Euroland Fund 375Templeton European Fund 377Templeton Frontier Markets Fund 379Templeton Global Fund 381Templeton Global (Euro) Fund 384Templeton Global Balanced Fund 387Templeton Global Bond Fund 391Templeton Global Bond (Euro) Fund 394Templeton Global Currency Fund 396Templeton Global Equity Income Fund 397Templeton Global High Yield Fund 399Templeton Global Income Fund 405Templeton Global Smaller Companies Fund 410Templeton Global Total Return Fund 413Templeton Growth (Euro) Fund 416Templeton Korea Fund 419Templeton Latin America Fund 420Templeton Thailand Fund 422Santrumpos 424Statistin informacija 425Franklin Templeton Investments

biur sraas 432

FRANKLIN TEMPLETON INVESTMENT FUNDS

4 Neaudituota pusmeio ataskaita www.franklintempleton.lu

socit dinvestissement capital variable8A, rue Albert Borschette, L-1246 Liuksemburgas, Didioji Liuksemburgo Kunigaiktyst (registruota Registre de commerce et des socits, Liuksemburgas, numeris B 35 177)

Bendroji informacija (2017 m. gruodio 31 d.)DIREKTORI VALDYBA:PirmininkasGregory E. JohnsonPirmininkas ir generalinis direktoriusFRANKLIN RESOURCES, INC.One Franklin ParkwaySan Mateo, CA 94403-1906, JAV

DirektoriaiJed A. PlafkerPirmininkas ir vykdomasis direktoriusFRANKLIN TEMPLETON INVESTMENTSOne Franklin ParkwaySan Mateo, CA 94403-1906, JAV

Mark G. HoloweskoPrezidentasHOLOWESKO PARTNERS LTDShipston HouseP.O. Box N-7776, West Bay Street, Lyford Cay,Nassau, Bahamai

James J. K. HungPrezidentas ir generalinis direktoriusASIA SECURITIES GLOBAL LTD2704, Block B, Parkway Court,No. 4 Parkway RoadHonkongas

Dr. J. B. Mark MobiusVykdomasis pirmininkasTEMPLETON EMERGING MARKETS GROUP7 Temasek Boulevard, # 38-03 Suntec Tower OneSingapras 038987(atsistatydinimo data 2018 m. sausio 31 d.)

Gerb. Trevor G. TrefgarnePirmininkasENTREPRISE GROUP LIMITED11 High StreetAccra, Gana

William C. P. LockwoodNepriklausomas direktoriusPoste restante, Avenue du Gnral de GaulleF-57570 Cattenom, France (Pranczija)

VALDYMO MON:FRANKLIN TEMPLETON INTERNATIONAL SERVICES S. r.l.8A, rue Albert Borschette, L-1246 LuxembourgDidioji Liuksemburgo Kunigaiktyst

OFICIALI BSTIN:8A, rue Albert Borschette, L-1246 LuxembourgDidioji Liuksemburgo Kunigaiktyst

PAGRINDINIS PLATINTOJAS:FRANKLIN TEMPLETON INTERNATIONAL SERVICES S. r.l.8A, rue Albert Borschette, L-1246 LuxembourgDidioji Liuksemburgo Kunigaiktyst

INVESTICIJ VALDYTOJAI:FRANKLIN ADVISERS, INC.One Franklin ParkwaySan Mateo, CA 94403-1906, JAV

FT ALPHAPARITY, LLC (ankstesnis pavadinimas FRANKLIN ALTERNATIVE STRATEGIES ADVISERS, LLC)One International Place, 25th FloorBoston, MA 02110, JAV

FRANKLIN MUTUAL ADVISERS, LLC101 John F. Kennedy ParkwayShort Hills, NJ 07078-2789, JAV

FRANKLIN TEMPLETON INSTITUTIONAL LLC280 Park Avenue,New York, NY 10017, JAV

FRANKLIN TEMPLETON INVESTIMENTOS (Brasil) Ltda.Avenue Brigadeiro Faria Lima 3311, 5o andar,So Paulo 04538-133, Brazilija

FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITEDCannon Place, 78 Cannon StreetLondon EC4N 6HL, Jungtin Karalyst

FRANKLIN TEMPLETON INVESTMENT TRUST MANAGEMENT CO. LIMITED12 Youido-dong, Youngdungpo-gu,Seoul, Korja

FRANKLIN TEMPLETON INVESTMENTS CORP.200 King Street West, Suite 1500,Toronto, Ontario M5H 3T4, Kanada

K2/D&S MANAGEMENT CO., LLC300 Atlantic Street, 12th FloorStamford, CT 06901, JAV

P/E GLOBAL LLC75 State Street, 31st Floor, BostonMA 02109, JAV

CHILTON INVESTMENT COMPANY, LLC1290 East Main StreetStamford, CT 06902, JAV

IMPALA ASSET MANAGEMENT LLC107 Cherry StreetNew Canaan, CT 06840, JAV

JENNISON ASSOCIATES LLC466 Lexington AvenueNew York, NY 10017, JAV

WELLINGTON MANAGEMENT COMPANY, LLP280 Congress StreetBoston, MA 02210, JAV

P. SCHOENFELD ASSET MANAGEMENT L.P.1350 Avenue of the Americas, 21st FloorNew York, NY 10019, JAV

EMSO ASSET MANAGEMENT LIMITEDIron Trades House, 21-14 Grosvenor PlaceLondon SW1X 7HF, Jungtin Karalyst

BASSO CAPITAL MANAGEMENT L.P.1266 East Main StreetStamford, CT 06902, JAV

CHATHAM ASSET MANAGEMENT LLC26 Main Street, Suite 204Chatham, NJ 07928, JAV

LAZARD ASSET MANAGEMENT LLC30 Rockfeller PlazaNew York, NY 10112, JAV

LOOMIS SAYLES & COMPANY, L.P.One Financial Center, 27th FloorBoston, MA 02111, JAV

GRAHAM CAPITAL MANAGEMENT L.P.40 Highland AvenueRowayton, CT 06853, JAV

PORTLAND HILL ASSET MANAGEMENT LIMITED21 KnightsbridgeLondon SW1X 7LY, Jungtin Karalyst

ASPECT CAPITAL LIMITED10 Portman SquareLondon W1H 6AZ, Jungtin Karalyst

ELLINGTON GLOBAL ASSET MANAGEMENT, LLC53 Forest AvenueOld Greenwich, CT 06870, JAV

APOLLO SA MANAGEMENT, LLC9 West 57th Street, Suite 4800New York, NY 10019, JAV

LOGAN CIRCLE PARTNERS, L.P.1717 Arch Street, Suite 1500,Philadelphia, PA 19103, JAV

CANDLEWOOD INVESTMENT GROUP, LP555 Theodore Fremd, Suite C-303Rye, NY 10580, JAV

HALCYON ARBITRAGE UCITS MANAGEMENT LP477 Madison Avenue, 8th FloorNew York, NY 10022, JAV

FRANKLIN TEMPLETON INVESTMENTS (ME) LIMITEDThe Gate, East Wing, Level 2,Dubai International Financial Centre,P.O. Box 506613, Dubai, Jungtiniai Arab Emyratai

SUMITOMO MITSUI ASSET MANAGEMENT COMPANY LIMITED2-5-1 Atago Minato-kuTokyo 105-6228, Japonija

TEMPLETON ASSET MANAGEMENT LTD.7 Temasek Boulevard# 38-03 Suntec Tower OneSingapras 038987

TEMPLETON GLOBAL ADVISORS LIMITEDP.O. Box N-7759Lyford Cay, Nassau, Bahamai

TEMPLETON INVESTMENT COUNSEL, LLC300 S.E. 2nd StreetFort Lauderdale, FL 33301, JAV

VERTYBINI POPIERI SAUGOTOJAS IR PAGRINDINIS MOKJIMO TARPI-NINKAS:J.P. Morgan Bank LUXEMBOURG S.A.Europos Bank ir verslo centras6C Route de Trves, L-2633 SenningerbergDidioji Liuksemburgo Kunigaiktyst

AUDITORIAI:PRICEWATERHOUSECOOPERS, Socit cooprative2, rue Gerhard Mercator, L-2182 LuxembourgDidioji Liuksemburgo Kunigaiktyst

JURIDINIAI KONSULTANTAI:ELVINGER, HOSS & PRUSSEN, Socit Anonnyme2, place Winston Churchill, B.P. 425, L-2014 LuxembourgDidioji Liuksemburgo Kunigaiktyst

FRANKLIN TEMPLETON INVESTMENT FUNDS

www.franklintempleton.lu Neaudituota pusmeio ataskaita 5

FONDO INVESTICIJ VALDYTOJAI:Franklin Asia Credit FundKolektyvinio investavimo valdytojai

FRANKLIN ADVISERS, INC.FRANKLIN TEMPLETON INSTITUTIONAL, LLCTEMPLETON ASSET MANAGEMENT LTD.

Franklin Biotechnology Discovery FundFRAN