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Glossary 

Alpha Sources: investing strategies that contribute to the excess return of an investment relative to the return of a benchmark index is the investment’s alpha. 

Attribution: 

Credit Default Swaps:  a financial derivative that allows an investor to swap or offset their credit risk with that of another investor.
Currency Forwards: a customized, written contract between two parties that sets a fixed foreign currency exchange rate for a transaction, set for a specified future date.
Credit Risk: the probability of a financial loss resulting from a borrower's failure to repay a loan.
Dispersion Reports: report on statistical measures of the range of potential outcomes for an investment based on its historical volatility or returns.
Duration Management: adjusting a portfolio's sensitivity to changes in interest rates and yield.
High-Yield Credit:  bond that offers a higher rate of interest because of its higher risk of default. 
Interest Rate Futures: a futures contract with an underlying instrument that pays interest.
Portfolio Duration Range:  average life of the assets in the investment portfolio of a Fund
Short-Duration Exposure: fixed income investments with low duration
Structured Credit: involves pooling similar debt obligations and selling off the resulting cash flows
Systematic Macro Risk: risk that is inherent to the entire market, rather than a particular stock or industry sector.
Tracking Error: difference between the returns of the index fund and the target index.
Value-at-Risk: statistic that quantifies the extent of possible financial losses within a firm, portfolio, or position over a specific time frame.

FTGF Brandywine Global Income Optimiser Fund

Fund Risks

Bonds: There is a risk that issuers of bonds held by the fund may not be able to repay the investment or pay the interest due on it, leading to losses for the fund. Bond values are affected by the market's view of the above risk, and by changes in interest rates and inflation. 
Liquidity: In certain circumstances it may be difficult to sell the fund's investments because there may not be enough demand for them in the markets, in which case the fund may not be able to minimise a loss on such investments. 
Low rated bonds: The fund may invest in lower rated or unrated bonds of similar quality, which carry a higher degree of risk than higher rated bonds. 
Emerging markets investment: The fund may invest in the markets of countries which are smaller, less developed and regulated, and more volatile than the markets of more developed countries. 
Asset-backed securities: The timing and size of the cash-flow from asset-backed securities is not fully assured and could result in loss for the fund. These types of investments may also be difficult for the fund to sell quickly. 
Fund currency: Changes in exchange rates between the currencies of investments held by the fund and the fund's base currency may negatively affect the value of an investment and any income received from it. 
Interest rates: Changes in interest rates may negatively affect the value of the fund. Typically as interest rates rise, bond values fall.
Derivatives: The use of derivatives can result in greater fluctuations of the fund's value and may cause the fund to lose as much as or more than the amount invested. 
Sustainability: The fund's integration of sustainability risks in the investment decision process may have the effect of excluding profitable investments from the investment universe of the fund and may also cause the fund to sell investments that will continue to perform well. A sustainability risk could materialise due to an environmental, social or governance event or condition which may impact the fund's investments and negatively affect the returns of the fund. 
Fund counterparties: The fund may suffer losses if the parties that it trades with cannot meet their financial obligations. 
Fund operations: The fund is subject to the risk of loss resulting from inadequate or failed internal processes, people or systems or those of third parties such as those responsible for the custody of its assets, especially to the extent that it invests in developing countries.
Complete information on the risks of investing in the Fund are set out in the Fund’s prospectus.

Important Information

This fund meets the requirements under Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR); the fund has binding commitments in its investment policy to promote environmental and/or social characteristics and any companies in which it invests should follow good governance practices. Further information in relation to the sustainability-related aspects of the Fund can be found at franklintempleton.lu/SFDR. Please review all of the fund's objectives and characteristics before investing.

This marketing material is intended to be of general interest only and should not be construed as investment advice. It does not constitute legal or tax advice and it is not an offer for shares or an invitation to apply for shares of the Irish-domiciled Franklin Templeton Global Funds plc (the "Fund" or "FTGF"). For the avoidance of doubt, if you decide to invest, you will be buying units in the Fund and will not be investing directly in the underlying assets of the Fund.
Franklin Templeton ("FT") shall not be liable to any user of this document or to any other person or entity for the inaccuracy of information or any errors or omissions in its contents, regardless of the cause of such inaccuracy, error or omission. Any opinions expressed are the author's at publication date and they are subject to change without prior notice. Any research and analysis contained in this marketing material has been procured by FT for its own purposes and is provided to you only incidentally. Data from third party sources may have been used in the preparation of this document and FT has not independently verified, validated or audited such data. References to industries, sectors or companies are for general information and are not necessarily indicative of the Fund's holding at any one time.

No shares of the Fund may be directly or indirectly offered or sold to residents of the United States of America. Shares of the Fund are not available for public distribution in all jurisdictions and prospective investors should consult their financial advisor before deciding to invest. The Fund may use financial derivatives or other instruments which may entail specific risks more fully described in the Fund's Documents.
Subscriptions to shares of the Fund can only be made based on the Fund's current Prospectus and, where available, the relevant Key Information Document ("KID"), accompanied by the latest available audited annual report and the latest semi-annual report if published thereafter. These documents can be found on our website at https://www.franklinresources.com/all-sites, obtained from FTGF's registered office at Riverside Two, Sir John Rogerson's Quay, Grand Canal Dock, Dublin 2, Ireland, from FTGF's administrator, or can be requested via FT's European Facilities Service which is available at https://www.eifs.lu/franklintempleton.
The Fund's documents are available in English, French, German, Italian and Spanish. A summary of investor rights is available here. The summary is available in English. The sub-funds of FTGF are notified for marketing in multiple EU Member States under the UCITS Directive. FTGF can terminate such notifications for any share class and/or sub-fund at any time by using the process contained in Article 93a of the UCITS Directive.
In the Middle East: Issued by Franklin Templeton Investments (ME) Limited, authorized and regulated by the Dubai Financial Services Authority. Franklin Templeton Investments, The Gate, East Wing, Level 2, Dubai International Financial Centre, P.O. Box 506613, Dubai, U.A.E., Tel.: +9714-4284100 Fax:+9714-4284140.

For further information on paying agents and representative agents of FTGF, please refer to the Fund's Prospectus.

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