Proxy Voting Policies and Voting Records

Franklin Templeton Investments is pleased to provide the proxy voting policies and procedures of its affiliated investment advisors, as well as the proxy voting records of its mutual funds. With years of experience, Franklin Templeton's investment advisors understand that their proxy voting decisions may affect the value of shareholdings. Each investment advisor is committed to fulfilling their fiduciary duty to vote proxies in the best interests of their shareholders. The proxy voting policies and procedures serve as a guideline for proxy voting decisions and detail the process by which such decisions are made.

To view Franklin Templeton's proxy voting policies and procedures, please click the link:
Investment Advisor Proxy Voting Policies and Procedures
To view the proxy voting records for the Franklin Templeton mutual funds for the one year period ended June 30, 2012, please click the link:
Fund Proxy Voting Records

New Funds Launch Date – June 25, 2012

Bissett Dividend Income Corporate Class
Bissett Canadian High Dividend Corporate Class

Fund Name Changes - Effective June 25, 2012

Templeton Global Income Fund changed its name to Templeton Global Balanced Fund
Mutual Discovery Fund changed its name to Mutual Global Discovery Fund
Mutual Discovery Corporate Class changed its name to Mutual Global Discovery Corporate Class

Fund Closures

Effective March 29 2012, Franklin Templeton Treasury Bill Yield Class (the "Corporate Class Fund") ceased offering shares for purchase and the Corporate Class Fund was terminated on June 1, 2012. On or prior to May 30, 2012, you could switch or redeem your holdings in the Corporate Class Fund for settlement. If you held the Corporate Class Fund in a Franklin Templeton registered account and remained in the Corporate Class Fund at the close of business on June 1, 2012, your holdings would have been switched into Franklin Templeton Treasury Bill Fund. You can look up its voting record under Franklin Templeton Treasury Bill Fund. If you held the Corporate Class Fund in a non-registered account, your holdings would have been liquidated at fair market value.

Fund Mergers

Effective as of the close of business on June 22, 2012

Wellington West Franklin Templeton Balanced Retirement Income Fund merged into Quotential Balanced Growth Portfolio

For more information on any of our funds, contact your financial advisor or download a prospectus, which contains important information about a fund's investment objectives, sales charges, expenses and risks. Please read the prospectus carefully before investing.