Franklin Templeton Launches New Shariah-Compliant Technology Fund

• Strategy is first of its kind in the UCITS fund category and invests in Shariah-compliant technology companies with sustainable growth characteristics

Dubai, 24 February 2022 – Franklin Templeton¹ today announced the launch of its new Shariah-compliant technology fund, first of its kind in the UCITS category². The Franklin Shariah Technology Fund³ is a sub-fund of the Luxembourg-domiciled Franklin Templeton Shariah Funds (FTSF) ³ range.

The fund’s investment objective is capital appreciation. It aims to invest in a wide array of Shariah-compliant technology-related equity companies and other Shariah-compliant eligible assets globally and seeks to minimise investment risk exposure through diversification.

Jonathan Curtis, Lead Portfolio Manager, Franklin Shariah Technology Fund, commented: “This new fund brings a distinct investment strategy to the Shariah-compliant space. Our investment process leverages a robust, proprietary screening system and fundamental bottom-up research to identify Shariah-compliant technology companies that match our quality, valuation and growth potential criteria.”

“With this strategy, investors will gain exposure to companies that leverage innovation and secular themes like digital transformation, artificial intelligence, cloud computing and fintech. Our strategic location in Silicon Valley also gives us unique insight into the technology sector, with access to the largest and most established technology companies, emerging technology leaders and early-stage companies, and a network of industry, finance, academic and other contacts dedicated to innovation.”

Sandeep Singh, Regional Head, CEEMEA and Head, Islamic Business, Franklin Templeton, commented: “This new Shariah strategy applies extensive management expertise, deep knowledge of the technology sector and guidance of our international Shariah supervisory board to bring the first of its kind to the UCITS fund category. It provides our clients greater choices to diversify portfolios and help them achieve their long-term wealth creation goals.”

With approximately three decades of experience in the technology sector, Jonathan Curtis is senior vice president, research analyst and lead portfolio manager for the Franklin Shariah Technology Fund and based in California. Having joined Franklin Templeton in 2008, he oversees the Franklin Equity Group’s Technology and Communications Research Team and is also the lead manager for the 4-star rated⁴ Franklin Technology Fund⁵, which has a long track record of more than 20 years and $10.5 billion⁵ in assets under management.

Jonathan is supported by a team of analysts and in-house ESG professionals responsible for developing bespoke research and proprietary securities ratings to support the investment management process.

Franklin Templeton’s Shariah capabilities

As one of the few global asset managers with a dedicated Shariah offering, Franklin Templeton has over $3 billion in assets6 in its Shariah business line which is led from its office in the Dubai International Financial Centre. In addition to the UAE, the firm offers dedicated Shariah investing expertise in Singapore and Malaysia, which combined cover a range of asset classes and strategies including sukuk and global, regional and local equities.

All Franklin Templeton Shariah portfolios are independently reviewed by the Amanie International Shariah Supervisory Board, highly regarded for their extensive Shariah and technical understanding. The firm also leverages best-in-class technology utilizing criteria established by its Shariah screening provider IdealRatings, which analyses approximately 40,000 global securities.

About the Franklin Equity Group

The Franklin Equity Group brings together decades of in-depth expertise in managing global, U.S. and sector-specific strategies across the style and market capitalisation spectrum. Established in 1947, the team utilises fundamental, bottom-up research to focus on companies it believes have sustainable growth characteristics meeting its criteria of growth potential, quality and valuation. The group follows a robust investment decision-making process that seeks strong, long-term results, and has $145.2 billion in assets under management as of 31 January 2022.

Investors should consult their financial advisor before making investment decisions.

Notes to Editors:

1. Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the company has 75 years of investment experience and over $1.5 trillion in assets under management as of January 31, 2022. For more information, please visit www.franklintempletonme.com and follow us on LinkedIn, Twitterand Facebook.

Franklin Templeton Investments (ME) Limited, based in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority, has been operating in the Middle East for more than 20 years.

2. Based on Morningstar listed UCITS funds (as of 15 February 2022).

3. The Franklin Shariah Technology Fund is a sub-fund of Franklin Templeton Shariah Funds (FTSF), a Luxembourg-domiciled SICAV.

This document is intended to be of general interest only and does not constitute legal or tax advice nor is it an offer for shares or invitation to apply for shares of any of the Luxembourg-domiciled SICAV Franklin Templeton Shariah Funds (the “Fund”). Given the rapidly changing market environment, Franklin Templeton disclaims responsibility for updating this material.

Subscriptions to shares of the Fund can only be made on the basis of the current prospectus of the Fund, and, where available, the relevant Key Investor Information Document, accompanied by the latest available audited annual report and the latest semi-annual report if published thereafter. An investment in the Fund entails risks which are described in the Fund's prospectus.

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. Past performance is not an indicator or a guarantee of future performance. Currency fluctuations may affect the value of overseas investments. When investing in a fund denominated in a foreign currency, your performance may also be affected by currency fluctuations.

In emerging markets, the risks can be greater than in developed markets. Investments in derivative instruments entail specific risks that may increase the risk profile of the fund and are more fully described in the Fund’s prospectus. If the fund invests in a specific sector or geographical area, the returns may be more volatile than a more diversified fund.

The investment activities will be undertaken in accordance with the Shariah Guidelines. As a consequence, the performance of a Fund may possibly be lower than other investment funds that do not seek to strictly adhere to the Islamic investment criteria. The requirement to “purify” cash holdings or dividend income will likely result in payments being made to charities. The return to investors will be reduced by the amount of such payments. The International Shariah Supervisory Board of Amanie Advisors Sdn Bhd has certified that the Fund is in compliance with the requirements of the Shariah principles.

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 distribution in all jurisdictions and prospective investors should confirm availability with their local Franklin Templeton representative before making any plans to invest.

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 document has been procured by Franklin Templeton for its own purposes and is provided to you only incidentally.

A copy of the latest prospectus, the annual report and semi-annual report, if published thereafter can be found on our website: www.franklintempletongem.com or can be obtained, free of charge, from the address below.

4. Ranking for Franklin Technology Fund’s primary share class. Data as of 31 January 2022. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

5. Franklin Technology Fund is a sub-fund of Franklin Templeton Investments Funds (FTIF), a Luxembourg-domiciled SICAV.

This document is intended to be of general interest only and does not constitute legal or tax advice nor is it an offer for shares or invitation to apply for shares of any of the Luxembourg-domiciled SICAV Franklin Templeton Investment Funds (the “Fund”). Given the rapidly changing market environment, Franklin Templeton disclaims responsibility for updating this material.

Subscriptions to shares of FTIF can only be made on the basis of the current prospectus, and, where available, the relevant Key Investor Information Document, accompanied by the latest available audited annual report and the latest semi-annual report if published thereafter. An investment in the Fund entails risks which are described in the Fund's prospectus. These documents can be found on our website at www.ftidocuments.com or can be obtained, free of charge, from your local FTI representative. The value of shares in FTIF and income received from it can go down as well as up, and investors may not get back the full amount invested. Past performance is not an indicator or a guarantee of future performance. Currency fluctuations may affect the value of overseas investments. When investing in a fund denominated in a foreign currency, your performance may also be affected by currency fluctuations.

In addition, a summary of investor rights is available from franklintempleton.lu. The summary is available in English.

An investment in FTIF entails risks, which are described in the FTIF’s prospectus and, where available, the relevant Key Investor Information Document. Investments in derivative instruments entail specific risks that may increase the risk profile of the fund and are more fully described in FTIF’s prospectus and where available in the relevant Key Investor Information Document.

References to particular industries, sectors or companies are for general information and are not necessarily indicative of a fund’s holding at any one time.

No shares of FTIF may be directly or indirectly offered or sold to nationals or residents of the United States of America. Shares of FTIF are not available for distribution in all jurisdictions and prospective investors should confirm availability with their local Franklin Templeton Investments representative before making any plans to invest.

6. Franklin Templeton data. As of 31 January 2022.

Past performance is not an indicator or a guarantee of future performance. Currency fluctuations may affect the value of overseas investments. When investing in a fund denominated in a foreign currency, your performance may also be affected by currency fluctuations. In emerging markets, the risks can be greater than in developed markets.

Any research and analysis contained in this document has been procured by Franklin Templeton for its own purposes and is provided to you only incidentally. This press release is intended to be of general interest only, and does not constitute professional advice. Investors should seek professional financial advice and obtain a full explanation of any proposed investment before making a decision to invest. Investments involve risks. The value of investments can go down as well as up, and investors may not get back the full amount invested. Not all products and services available in all jurisdictions. Franklin Templeton and its management groups have exercised professional care and diligence in the collection and processing of the information in this press release. Franklin Templeton makes no representations or warranties with respect to the accuracy of this document. Franklin Templeton shall not be liable to any user of this report or to any other person or entity for the inaccuracy of information contained in this press release or for any errors or omissions in its contents, regardless of the cause of such inaccuracy, error or omission.

Please consult your financial advisor before deciding to invest. A copy of the latest prospectus, and, if available for this product, the relevant Key Investor Information Document, the annual report and semi-annual report, if published thereafter can be found, on our website www.ftidocuments.com.

Issued by Franklin Templeton Investments (ME) Limited. Franklin Templeton Investments (ME) Limited is regulated by the Dubai Financial Services Authority.

Dubai office: Franklin Templeton Investments (ME) Limited, The Gate, East Wing, Level 2, Dubai International Financial Centre, P.O. Box 506613, Dubai, U.A.E., Tel.: +9714-4284100 Fax:+9714-4284140.

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