To seek long-term investment growth, mainly through growth of capital and, income. The Fund mainly invests in equities and depositary receipts of companies of any market capitalisation active in natural resources and related technology and services. This may include fossil fuels, renewable energy, agriculture, forestry, environmental protection, paper and chemicals. These investments may be from anywhere in the world, including emerging markets.

• Seeking high total return in USD by investing in equity and debt securities in the natural resources sector.
• Planning to hold their investments for medium to long term.

• The Fund invests in equity and debt securities (primarily convertible bonds), as well as depository receipts of small- and mid-size companies around the world.
• The Fund’s management team aims to actively manage the portfolio by investing at least 80% of its net assets in companies directly or indirectly related to the natural resources sector.
• Among the sectors on which the fund focuses are: integrated oil, oil and gas exploration and production, gold and other precious metals, steel and iron ore production, energy services and technology, base metal production, forest products, farming products, paper products, chemicals, building materials, coal, alternative energy sources and environmental services.
• The Fund seeks to invest in areas that offer long-term as well as cyclical growth characteristics. They can come in the form of newly discovered resources or developing technologies.
• Franklin Templeton Investments has a long history of investing in natural resources. The original U.S.-registered Franklin Natural Resources Fund was established in 1995.

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 mainly in equity securities of companies of the natural resources sector worldwide, including emerging markets. Such securities have historically been subject to significant price movements, frequently to a greater extent than equity markets globally. As a result, the performance of the Fund can fluctuate significantly over relatively short time periods.
• Other significant risks include: 
  Foreign Currency risk: the risk of loss arising from exchange-rate fluctuations or due to exchange control regulations. 
  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. 
  Securities Lending risk: the risk that default or insolvency of the borrower of securities lent by a Fund may lead to losses if collateral received realises less than the values of securities lent.

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.