Franklin Payout 2021 Fund (Advisor Class)1

OVERVIEW

Fund Description

The fund seeks capital preservation and income with a pre-determined maturity date, by investing predominantly in U.S. dollar denominated investment grade debt securities and investments, including government and corporate debt securities, and asset-backed securities and municipal securities. The fund is designed for investors who seek an investment with a withdrawal strategy to help meet their retirement spending needs, particularly those who are nearing retirement or in retirement.

Fund Snapshot


Inception date

06/01/2015

Symbol

FPOJX

Investment Style

Fixed Income

CUSIP

354 73A 838

Benchmark

Bloomberg Barclays US Government & Credit 2021 Maturity Index

Fund number

990

Performance (%)

Total Annual Operating Expenses (%)2,3

With Waiver2

(Updated Annually) As of 11/01/2019

0.46%

Without Waiver2

(Updated Annually) As of 11/01/2019

3.07%

Sales Charge

None

Average Annual Total Returns (%)

Month End

(As of 02/28/2021)

3 monthYear to Date1 Yr3 Yrs5 YrsSince Inception
(06/01/2015)
Fund -0.01 0.00 1.56 2.94 2.36 2.46
Benchmark 0.07 0.06 1.41 2.92 2.00 2.15

Quarter End

(As of 12/31/2020)

3 monthYear to Date1 Yr3 Yrs5 YrsSince Inception
(06/01/2015)
Fund 0.09 2.46 2.46 2.56 2.75 2.53
Benchmark 0.07 2.38 2.38 2.55 2.47 2.20

Management

PORTFOLIO

Franklin Payout 2021 Fund (Advisor Class)

Estimated amounts of upcoming capital gain distributions are shown in red. Estimated distributions can change prior to the record date depending on current market conditions and number of shares outstanding. Estimates do not include ordinary income distributions the funds may be making. Net short-term capital gains, when distributed, are generally taxable as ordinary income and are reported as ordinary dividends on Form 1099-DIV.

As of 12/01/2020

Frequency: Annually

(Per Share Amounts in USD)

Record Date

11/30/2020

Ex-Date

12/01/2020

Pay Date

12/01/2020

Reinvestment Price

$10.150

Total

$0.2089

Income

$0.195

Long-term cap gain

$0.0105

Short-term cap gain

$0.0034

As of 12/02/2019

Frequency: Annually

(Per Share Amounts in USD)

Record Date

11/29/2019

Ex-Date

12/02/2019

Pay Date

12/04/2019

Reinvestment Price

$10.080

Total

$0.2246

Income

$0.2246

Long-term cap gain

$0.0000

Short-term cap gain

$0.0000

As of 12/03/2018

Frequency: Annually

(Per Share Amounts in USD)

Record Date

11/30/2018

Ex-Date

12/03/2018

Pay Date

12/06/2018

Reinvestment Price

$9.75

Total

$0.2316

Income

$0.2263

Long-term cap gain

$0.0053

Short-term cap gain

$0.0000

As of 12/01/2017

Frequency: Annually

(Per Share Amounts in USD)

Record Date

11/30/2017

Ex-Date

12/01/2017

Pay Date

12/05/2017

Reinvestment Price

$10.05

Total

$0.2250

Income

$0.2250

Long-term cap gain

$0.0000

Short-term cap gain

$0.0000

RESOURCES

FUND DOCUMENTS
Annual Report (PDF)

Fiscal Q1 Holdings (PDF)

Prospectus 10/01/20 (PDF)

Forms 8937

No Forms 8937 have been issued in this tax year.


Semi-Annual Report (PDF)

Fiscal Q3 Holdings (PDF)

Statement of Additional Information 10/01/20 (PDF)

XBRL (06/05/15) (ZIP)