ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington, DC 20005
INVESTMENT COMPANY BLANKET BOND
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington, DC 20005
DECLARATIONS
NOTICE
This policy is issued by your risk retention group. Your risk
retention group may not be subject to all of the insurance laws and
regulations of your state. State insurance insolvency guaranty
funds are not available for your risk retention group.
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Item 1. |
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Name of
Insured (the “Insured”) |
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Bond Number: |
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Franklin Alternative Strategies
Funds |
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87170121B |
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Principal Office: |
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Mailing Address: |
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One Franklin Parkway 970/3 |
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One Franklin Parkway 970/3 |
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San Mateo, CA 94403-1906
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San Mateo, CA 94403-1906
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Item 2. |
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Bond Period: from 12:01 a.m. on June 30, 2021 , to 12:01 a.m.
on June 30, 2022 , or the earlier effective date of the
termination of this Bond, standard time at the Principal Office as
to each of said dates. |
Item 3. |
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Limit of
Liability—Subject to Sections 9, 10 and 12 hereof: |
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LIMIT OF
LIABILITY
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DEDUCTIBLE
AMOUNT
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Insuring Agreement A- |
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FIDELITY |
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$ |
100,000,000 |
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N/A |
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Insuring Agreement B- |
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AUDIT EXPENSE |
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$ |
50,000 |
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$ |
10,000 |
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Insuring Agreement C- |
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ON PREMISES |
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$ |
100,000,000 |
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$ |
250,000 |
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Insuring Agreement D- |
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IN TRANSIT |
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$ |
100,000,000 |
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$ |
250,000 |
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Insuring Agreement E- |
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FORGERY OR ALTERATION |
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$ |
100,000,000 |
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$ |
250,000 |
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Insuring Agreement F- |
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SECURITIES |
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$ |
100,000,000 |
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$ |
250,000 |
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Insuring Agreement G- |
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COUNTERFEIT CURRENCY |
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$ |
100,000,000 |
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$ |
250,000 |
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Insuring Agreement H- |
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UNCOLLECTIBLE ITEMS OF DEPOSIT |
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$ |
25,000 |
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$ |
5,000 |
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Insuring Agreement I- |
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PHONE/ELECTRONIC TRANSACTIONS |
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$ |
100,000,000 |
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$ |
250,000 |
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If “Not Covered” is inserted opposite
any Insuring Agreement above, such Insuring Agreement and any
reference thereto shall be deemed to be deleted from this
Bond. |
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OPTIONAL INSURING AGREEMENTS ADDED BY
RIDER: |
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Insuring Agreement J- |
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COMPUTER SECURITY |
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$ |
100,000,000 |
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$ |
250,000 |
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Insuring Agreement M- |
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SOCIAL ENGINEERING FRAUD |
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$ |
1,000,000 |
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$ |
250,000 |
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Item 4. |
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Offices or Premises Covered—All the Insured’s offices or other
premises in existence at the time this Bond becomes effective are
covered under this Bond, except the offices or other premises
excluded by Rider. Offices or other premises acquired or
established after the effective date of this Bond are covered
subject to the terms of General Agreement A. |
Item 5. |
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The liability of ICI Mutual Insurance Company, a
Risk Retention Group (the “Underwriter”) is subject to the terms of
the following Riders attached hereto: |
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Riders: 1-2-3-4-5-6-7-8-9-10-11 |
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and of all Riders applicable to this Bond
issued during the Bond Period. |
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By: |
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/s/ Maggie Sullivan
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By: |
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/s/ Catherine Dalton
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Authorized Representative |
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Authorized Representative |
INVESTMENT COMPANY BLANKET BOND
NOTICE
This policy is issued by your risk retention group. Your risk
retention group may not be subject to all of the insurance laws and
regulations of your state. State insurance insolvency guaranty
funds are not available for your risk retention group.
ICI Mutual Insurance Company, a Risk Retention Group (the
“Underwriter”), in consideration of an agreed premium, and in
reliance upon the Application and all other information furnished
to the Underwriter by the Insured, and subject to and in accordance
with the Declarations, General Agreements, Provisions, Conditions
and Limitations and other terms of this bond (including all riders
hereto) (“Bond”), to the extent of the Limit of Liability and
subject to the Deductible Amount, agrees to indemnify the Insured
for the loss, as described in the Insuring Agreements, sustained by
the Insured at any time but discovered during the Bond Period.
INSURING AGREEMENTS
Loss resulting directly from any Dishonest or Fraudulent Act
committed by an Employee, committed anywhere and whether committed
alone or in collusion with other persons (whether or not
Employees), during the time such Employee has the status of an
Employee as defined herein, and even if such loss is not discovered
until after he or she ceases to be an Employee; and EXCLUDING loss
covered under Insuring Agreement B.
Expense incurred by the Insured for that part of the costs of
audits or examinations required by any governmental regulatory
authority or Self-Regulatory Organization to be conducted by such
authority or Organization or by an independent accountant or other
person, by reason of the discovery of loss sustained by the Insured
and covered by this Bond.
Loss of Property resulting directly from any Mysterious
Disappearance, or any Dishonest or Fraudulent Act committed by a
person physically present in an office or on the premises of the
Insured at the time the Property is surrendered, while the Property
is (or reasonably supposed or believed by the Insured to be) lodged
or deposited within the Insured’s offices or premises located
anywhere, except those offices excluded by Rider; and EXCLUDING
loss covered under Insuring Agreement A.
Loss of Property resulting directly from any Mysterious
Disappearance or Dishonest or Fraudulent Act while the Property is
physically (not electronically) in transit anywhere in the custody
of any person authorized by an Insured to act as a messenger,
except while in the mail or with a carrier for hire (other than a
Security Company); and EXCLUDING loss covered under Insuring
Agreement A. Property is “in transit” beginning immediately upon
receipt of such Property by the transporting person and ending
immediately upon delivery to the designated recipient or its agent,
but only while the Property is being conveyed.
Loss resulting directly from the Insured having, in good faith,
paid or transferred any Property in reliance upon any Written,
Original:
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(1) |
bills of exchange, checks, drafts, or other written
orders or directions to pay sums certain in money, acceptances,
certificates of deposit, due bills, money orders, warrants, orders
upon public treasuries, or letters of credit; or
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(2) |
instructions, requests or applications directed to the
Insured, authorizing or acknowledging the transfer, payment,
redemption, delivery or receipt of money or Property, or giving
notice of any bank account (provided such instructions or requests
or applications purport to have been signed or endorsed by
(a) any customer of the Insured, or (b) any shareholder
of or subscriber to shares issued by any Investment Company, or
(c) any financial or banking institution or stockbroker, and
further provided such instructions, requests, or applications
either bear the forged signature or endorsement or have been
altered without the knowledge and consent of such customer, such
shareholder or subscriber to shares issued by an Investment
Company, or such financial or banking institution or stockbroker);
or
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(3) |
withdrawal orders or receipts for the withdrawal of
Property, or receipts or certificates of deposit for Property and
bearing the name of the Insured as issuer or of another Investment
Company for which the Insured acts as agent;
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which bear (a) a Forgery, or (b) an Alteration, but only
to the extent that the Forgery or Alteration directly causes the
loss.
Actual physical possession by the Insured or its authorized
representative of the items listed in (1) through
(3) above is a condition precedent to the Insured having
relied upon the items.
This Insuring Agreement E does not cover loss caused by Forgery or
Alteration of Securities or loss covered under Insuring Agreement
A.
Loss resulting directly from the Insured, in good faith, in the
ordinary course of business, and in any capacity whatsoever,
whether for its own account or for the account of others, having
acquired, accepted or received, or sold or delivered, or given any
value, extended any credit or assumed any liability in reliance on
any Written, Original Securities, where such loss results from the
fact that such Securities prove to:
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(1) |
be Counterfeit, but only to the extent that the
Counterfeit directly causes the loss, or
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(2) |
be lost or stolen, or
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(3) |
contain a Forgery or Alteration, but only to the
extent the Forgery or Alteration directly causes the loss,
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and notwithstanding whether or not the act of the Insured causing
such loss violated the constitution, by-laws, rules, or regulations of any
Self-Regulatory Organization, whether or not the Insured was a
member thereof.
This Insuring Agreement F does not cover loss covered under
Insuring Agreement A.
Actual physical possession by the Insured or its authorized
representative of the Securities is a condition precedent to the
Insured having relied upon the Securities.
Loss resulting directly from the receipt by the Insured, in good
faith of any Counterfeit Currency.
This Insuring Agreement G does not cover loss covered under
Insuring Agreement A.
H. |
UNCOLLECTIBLE ITEMS OF DEPOSIT
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Loss resulting directly from the payment of dividends, issuance of
Fund shares or redemptions or exchanges permitted from an account
with the Fund as a consequence of
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(1) |
uncollectible Items of Deposit of a Fund’s customer,
shareholder or subscriber credited by the Insured or its agent to
such person’s Fund account, or
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(2) |
any Item of Deposit processed through an automated
clearing house which is reversed by a Fund’s customer, shareholder
or subscriber and is deemed uncollectible by the Insured;
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PROVIDED, that (a) Items of Deposit shall not be deemed
uncollectible until the Insured’s collection procedures have
failed, (b) exchanges of shares between Funds with exchange
privileges shall be covered hereunder only if all such Funds are
insured by the Underwriter for uncollectible Items of Deposit, and
(c) the Insured Fund shall have implemented and maintained a
policy to hold Items of Deposit for the minimum number of days
stated in its Application (as amended from time to time) before
paying any dividend or permitting any withdrawal with respect to
such Items of Deposit (other than exchanges between Funds).
Regardless of the number of transactions between Funds in an
exchange program, the minimum number of days an Item of Deposit
must be held shall begin from the date the Item of Deposit was
first credited to any Insured Fund.
This Insuring Agreement H does not cover loss covered under
Insuring Agreement A.
I. |
PHONE/ELECTRONIC TRANSACTIONS
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Loss resulting directly from a Phone/Electronic Transaction, where
the request for such Phone/Electronic Transaction:
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(1) |
is transmitted to the Insured or its agents by voice
over the telephone or by Electronic Transmission; and
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(2) |
is made by an individual purporting to be a Fund
shareholder or subscriber or an authorized agent of a Fund
shareholder or subscriber; and
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(3) |
is unauthorized or fraudulent and is made with the
manifest intent to deceive;
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PROVIDED, that the entity receiving such request generally
maintains and follows during the Bond Period all Phone/Electronic
Transaction Security Procedures with respect to all
Phone/Electronic Transactions; and
EXCLUDING loss resulting from:
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(1) |
the failure to pay for shares attempted to be
purchased; or
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(2) |
any redemption of Investment Company shares which had
been improperly credited to a shareholder’s account where such
shareholder (a) did not cause, directly or indirectly, such
shares to be credited to such account, and (b) directly or
indirectly received any proceeds or other benefit from such
redemption; or
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(3) |
any redemption of shares issued by an Investment
Company where the proceeds of such redemption were requested
(i) to be paid or made payable to other than an Authorized
Recipient or an Authorized Bank Account or (ii) to be sent to
other than an Authorized Address;
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(4) |
the intentional failure to adhere to one or more
Phone/Electronic Transaction Security Procedures; or
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(5) |
a Phone/Electronic Transaction request transmitted by
electronic mail or transmitted by any method not subject to the
Phone/Electronic Transaction Security Procedures; or
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the failure or circumvention of any physical or
electronic protection device, including any firewall, that imposes
restrictions on the flow of electronic traffic in or out of any
Computer System.
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This Insuring Agreement I does not cover loss covered under
Insuring Agreement A, “Fidelity” or Insuring Agreement J, “Computer
Security”.
GENERAL AGREEMENTS
A. |
ADDITIONAL OFFICES OR EMPLOYEES—CONSOLIDATION OR
MERGER—NOTICE
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1. |
Except as provided in paragraph 2 below, this Bond
shall apply to any additional office(s) established by the Insured
during the Bond Period and to all Employees during the Bond Period,
without the need to give notice thereof or pay additional premiums
to the Underwriter for the Bond Period.
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2. |
If during the Bond Period an Insured Investment
Company shall merge or consolidate with an institution in which
such Insured is the surviving entity, or purchase substantially all
the assets or capital stock of another institution, or acquire or
create a separate investment portfolio, and shall within sixty
(60) days notify the Underwriter thereof, then this Bond shall
automatically apply to the Property and Employees resulting from
such merger, consolidation, acquisition or creation from the date
thereof; provided, that the Underwriter may make such coverage
contingent upon the payment of an additional premium.
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No statement made by or on behalf of the Insured, whether contained
in the Application or otherwise, shall be deemed to be an absolute
warranty, but only a warranty that such statement is true to the
best of the knowledge of the person responsible for such
statement.
C. |
COURT COSTS AND ATTORNEYS’ FEES
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The Underwriter will indemnify the Insured against court costs and
reasonable attorneys’ fees incurred and paid by the Insured in
defense of any legal proceeding brought against the Insured seeking
recovery for any loss which, if established against the Insured,
would constitute a loss covered under the terms of this Bond;
provided, however, that with respect to Insuring Agreement A this
indemnity shall apply only in the event that:
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an Employee admits to having committed or is
adjudicated to have committed a Dishonest or Fraudulent Act which
caused the loss; or
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2. |
in the absence of such an admission or adjudication,
an arbitrator or arbitrators acceptable to the Insured and the
Underwriter concludes, after a review of an agreed statement of
facts, that an Employee has committed a Dishonest or Fraudulent Act
which caused the loss.
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The Insured shall promptly give notice to the Underwriter of any
such legal proceeding and upon request shall furnish the
Underwriter with copies of all pleadings and other papers therein.
At the Underwriter’s election the Insured shall permit the
Underwriter to conduct the defense of such legal proceeding in the
Insured’s name, through attorneys of the Underwriter’s selection.
In such event, the Insured shall give all reasonable information
and assistance which the Underwriter shall deem necessary to the
proper defense of such legal proceeding.
If the amount of the Insured’s liability or alleged liability in
any such legal proceeding is greater than the amount which the
Insured would be entitled to recover under this Bond (other than
pursuant to this General Agreement C), or if a Deductible Amount is
applicable, or both, the indemnity liability of the Underwriter
under this General Agreement C is limited to the proportion of
court costs and attorneys’ fees incurred and paid by the Insured or
by the Underwriter that the amount which the Insured would be
entitled to recover under this Bond (other than pursuant to this
General Agreement C) bears to the sum of such amount plus the
amount which the Insured is not entitled to recover. Such indemnity
shall be in addition to the Limit of Liability for the applicable
Insuring Agreement.
This Bond shall be interpreted with due regard to the purpose of
fidelity bonding under Rule 17g-1 under the Investment Company Act
of 1940 (i.e., to protect innocent third parties from harm) and to
the structure of the investment management industry (in which a
loss of Property resulting from a cause described in any Insuring
Agreement ordinarily gives rise to a potential legal liability on
the part of the Insured), such that the term “loss” as used herein
shall include an Insured’s legal liability for direct compensatory
damages resulting directly from a misappropriation, or measurable
diminution in value, of Property.
THIS BOND, INCLUDING THE FOREGOING INSURING
AGREEMENTS
AND GENERAL AGREEMENTS, IS SUBJECT TO THE
FOLLOWING
PROVISIONS, CONDITIONS AND LIMITATIONS:
SECTION 1. DEFINITIONS
The following terms used in this Bond shall have the meanings
stated in this Section:
A. |
“Alteration” means the marking, changing or
altering in a material way of the terms, meaning or legal effect of
a document with the intent to deceive.
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B. |
“Application” means the Insured’s application
(and any attachments and materials submitted in connection
therewith) furnished to the Underwriter for this Bond.
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C. |
“Authorized Address” means (1) any
Officially Designated address to which redemption proceeds may be
sent, (2) any address designated in writing (not to include
Electronic Transmission) by the Shareholder of Record and received
by the Insured at least one (1) day prior to the effective
date of such designation, or (3) any address designated by
voice over the telephone or by Electronic Transmission by the
Shareholder of Record at least 15 days prior to the effective date
of such designation.
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D. |
“Authorized Bank Account” means any Officially
Designated bank account to which redemption proceeds may be
sent.
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E. |
“Authorized Recipient” means (1) the
Shareholder of Record, or (2) any other Officially Designated
person to whom redemption proceeds may be sent.
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F. |
“Computer System” means (1) computers with
related peripheral components, including storage components,
(2) systems and applications software, (3) terminal
devices, (4) related communications networks or customer
communication systems, and (5) related electronic funds
transfer systems; by which data or monies are electronically
collected, transmitted, processed, stored or retrieved.
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G. |
“Counterfeit” means a Written imitation of an
actual valid Original which is intended to deceive and to be taken
as the Original.
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H. |
“Cryptocurrency” means a digital or electronic
medium of exchange, operating independently of a central bank, in
which encryption techniques are used to regulate generation of
units and to verify transfer of units from one person to
another.
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I. |
“Currency” means a medium of exchange in
current use authorized or adopted by a domestic or foreign
government as part of its official currency.
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J. |
“Deductible Amount” means, with respect to any
Insuring Agreement, the amount set forth under the heading
“Deductible Amount” in Item 3 of the Declarations or in any Rider
for such Insuring Agreement, applicable to each Single Loss covered
by such Insuring Agreement.
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K. |
“Depository” means any “securities depository”
(other than any foreign securities depository) in which an
Investment Company may deposit its Securities in accordance with
Rule 17f-4 under the
Investment Company Act of 1940.
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L. |
“Dishonest or Fraudulent Act” means any
dishonest or fraudulent act, including “larceny and embezzlement”
as defined in Section 37 of the Investment Company Act of
1940, committed with the conscious manifest intent (1) to
cause the Insured to sustain a loss and (2) to obtain an
improper financial benefit for the perpetrator or any other person
or entity. A Dishonest or Fraudulent Act does not mean or include a
reckless act, a negligent act, or a grossly negligent act. As used
in this definition, “improper financial benefit” does not include
any employee benefits received in the course of employment,
including salaries, commissions, fees, bonuses, promotions, awards,
profit sharing or pensions.
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M. |
“Electronic Transmission” means any
transmission effected by electronic means, including but not
limited to a transmission effected by telephone tones,
Telefacsimile, wireless device, or over the Internet.
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(1) |
each officer, director, trustee, partner or employee
of the Insured, and
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(2) |
each officer, director, trustee, partner or employee
of any predecessor of the Insured whose principal assets are
acquired by the Insured by consolidation or merger with, or
purchase of assets or capital stock of, such predecessor, and
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(3) |
each attorney performing legal services for the
Insured and each employee of such attorney or of the law firm of
such attorney while performing services for the Insured, and
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(4) |
each student who is an authorized intern of the
Insured, while in any of the Insured’s offices, and
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(5) |
each officer, director, trustee, partner or employee
of
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(a) |
an investment adviser,
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(b) |
an underwriter (distributor),
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(c) |
a transfer agent or shareholder accounting
recordkeeper, or
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(d) |
an administrator authorized by written agreement to
keep financial and/or other required records,
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for an Investment Company named as an Insured, BUT ONLY while
(i) such officer, partner or employee is performing acts
coming within the scope of the usual duties of an officer or
employee of an Insured, or (ii) such officer, director,
trustee, partner or employee is acting as a member of any committee
duly elected or appointed to examine or audit or have custody of or
access to the Property of the Insured, or (iii) such director
or trustee (or anyone acting in a similar capacity) is acting
outside the scope of the usual duties of a director or trustee;
PROVIDED, that the term “Employee” shall not include any officer,
director, trustee, partner or employee of a transfer agent,
shareholder accounting recordkeeper or administrator (x) which
is not an “affiliated person” (as defined in Section 2(a) of
the Investment Company Act of 1940) of an Investment Company named
as an Insured or of the adviser or underwriter of such Investment
Company, or (y) which is a “Bank” (as defined in
Section 2(a) of the Investment Company Act of 1940), and
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(6) |
each individual assigned, by contract or by any agency
furnishing temporary personnel, in either case on a contingent or
part-time basis, to perform the usual duties of an employee in any
office of the Insured, and
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(7) |
each individual assigned to perform the usual duties
of an employee or officer of any entity authorized by written
agreement with the Insured to perform services as electronic data
processor of checks or other accounting records of the Insured, but
excluding a processor which acts as transfer agent or in any other
agency capacity for the Insured in issuing checks, drafts or
securities, unless included under subsection (5) hereof,
and
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(8) |
each officer, partner or employee of
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(a) |
any Depository or Exchange,
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(b) |
any nominee in whose name is registered any Security
included in the systems for the central handling of securities
established and maintained by any Depository, and
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(c) |
any recognized service company which provides clerks
or other personnel to any Depository or Exchange on a contract
basis,
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while such officer, partner or employee is performing services for
any Depository in the operation of systems for the central handling
of securities, and
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(9) |
in the case of an Insured which is an “employee
benefit plan” (as defined in Section 3 of the Employee
Retirement Income Security Act of 1974 (“ERISA”)) for officers,
directors or employees of another Insured (“In-House Plan”), any “fiduciary” or
other “plan official” (within the meaning of Section 412 of
ERISA) of such In-House
Plan, provided that such fiduciary or other plan official is a
director, partner, officer, trustee or employee of an Insured
(other than an In-House
Plan).
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Each employer of temporary personnel and each entity referred to in
subsections (6) and (7) and their respective partners,
officers and employees shall collectively be deemed to be one
person for all the purposes of this Bond.
Brokers, agents, independent contractors, or representatives of the
same general character shall not be considered Employees, except as
provided in subsections (3), (6), and (7).
O. |
“Exchange” means any national securities
exchange registered under the Securities Exchange Act of 1934.
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P. |
“Forgery” means the physical signing on a
document of the name of another person with the intent to deceive.
A Forgery may be by means of mechanically reproduced facsimile
signatures as well as handwritten signatures. Forgery does not
include the signing of an individual’s own name, regardless of such
individual’s authority, capacity or purpose.
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Q. |
“Items of Deposit” means one or more checks or
drafts.
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R. |
“Investment Company” or “Fund” means an
investment company registered under the Investment Company Act of
1940.
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S. |
“Limit of Liability” means, with respect to any
Insuring Agreement, the limit of liability of the Underwriter for
any Single Loss covered by such Insuring Agreement as set forth
under the heading “Limit of Liability” in Item 3 of the
Declarations or in any Rider for such Insuring Agreement.
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T. |
“Mysterious Disappearance” means any
disappearance of Property which, after a reasonable investigation
has been conducted, cannot be explained.
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U. |
“Non-Fund” means any corporation,
business trust, partnership, trust or other entity which is not an
Investment Company.
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V. |
“Officially Designated” means designated by the
Shareholder of Record:
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(1) |
in the initial account application,
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(2) |
in writing accompanied by a signature guarantee,
or
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(3) |
in writing or by Electronic Transmission, where such
designation is verified via a callback to the Shareholder of Record
by the Insured at a predetermined telephone number provided by the
Shareholder of Record to the Insured in writing at least 30 days
prior to such callback.
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W. |
“Original” means the first rendering or
archetype and does not include photocopies or electronic
transmissions even if received and printed.
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X. |
“Phone/Electronic Transaction” means any
(1) redemption of shares issued by an Investment Company,
(2) election concerning dividend options available to Fund
shareholders, (3) exchange of shares in a registered account
of one Fund into shares in an identically registered account of
another Fund in the same complex pursuant to exchange privileges of
the two Funds, or (4) purchase of shares issued by an
Investment Company, which redemption, election, exchange or
purchase is requested by voice over the telephone or through an
Electronic Transmission.
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Y. |
“Phone/Electronic Transaction Security
Procedures” means security procedures for Phone/ Electronic
Transactions as set forth in the Application and/or as otherwise
provided in writing to the Underwriter.
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Z. |
“Property” means the following tangible items:
money, postage and revenue stamps, precious metals, Securities,
bills of exchange, acceptances, checks, drafts, or other written
orders or directions to pay sums certain in money, certificates of
deposit, due bills, money orders, letters of credit, financial
futures contracts, conditional sales contracts, abstracts of title,
insurance policies, deeds, mortgages, and assignments of any of the
foregoing, and other valuable papers, including books of account
and other records used by the Insured in the conduct of its
business, and all other instruments similar to or in the nature of
the foregoing (but excluding all data processing records), (1) in
which the Insured has a legally cognizable interest, (2) in
which the Insured acquired or should have acquired such an interest
by reason of a predecessor’s declared financial condition at the
time of the Insured’s consolidation or merger with, or purchase of
the principal assets of, such predecessor or (3) which are
held by the Insured for any purpose or in any capacity.
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AA. |
“Securities” means original negotiable or
non-negotiable agreements
or instruments which represent an equitable or legal interest,
ownership or debt (including stock certificates, bonds, promissory
notes, and assignments thereof), which are in the ordinary course
of business transferable by physical delivery with appropriate
endorsement or assignment. “Securities” does not include bills of
exchange, acceptances, certificates of deposit, checks, drafts, or
other written orders or directions to pay sums certain in money,
due bills, money orders, or letters of credit.
|
BB. |
“Security Company” means an entity which
provides or purports to provide the transport of Property by secure
means, including, without limitation, by use of armored vehicles or
guards.
|
CC. |
“Self-Regulatory Organization” means any
association of investment advisers or securities dealers registered
under the federal securities laws, or any Exchange.
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DD. |
“Shareholder of Record” means the record owner
of shares issued by an Investment Company or, in the case of joint
ownership of such shares, all record owners, as designated
(1) in the initial account application, or (2) in writing
accompanied by a signature guarantee, or (3) pursuant to
procedures as set forth in the Application and/or as otherwise
provided in writing to the Underwriter.
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|
(1) |
all loss caused by any one act (other than a Dishonest
or Fraudulent Act) committed by one person, or
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|
(2) |
all loss caused by Dishonest or Fraudulent Acts
committed by one person, or
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|
(3) |
all expenses incurred with respect to any one audit or
examination, or
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|
(4) |
all loss caused by any one occurrence or event other
than those specified in subsections (1) through (3) above.
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All acts or omissions of one or more persons which directly or
indirectly aid or, by failure to report or otherwise, permit the
continuation of an act referred to in subsections (1) and (2)
above of any other person shall be deemed to be the acts of such
other person for purposes of this subsection.
All acts or occurrences or events which have as a common nexus any
fact, circumstance, situation, transaction or series of facts,
circumstances, situations, or transactions shall be deemed to be
one act, one occurrence, or one event.
FF. |
“Telefacsimile” means a system of transmitting
and reproducing fixed graphic material (as, for example, printing)
by means of signals transmitted over telephone lines or over the
Internet.
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GG. |
“Written” means expressed through letters or
marks placed upon paper and visible to the eye.
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SECTION 2. EXCLUSIONS
THIS BOND DOES NOT COVER:
A. |
Loss resulting from (1) riot or civil commotion
outside the United States of America and Canada, or (2) war,
revolution, insurrection, action by armed forces, or usurped power,
wherever occurring; except if such loss occurs while the Property
is in transit, is otherwise covered under Insuring Agreement D, and
when such transit was initiated, the Insured or any person
initiating such transit on the Insured’s behalf had no knowledge of
such riot, civil commotion, war, revolution, insurrection, action
by armed forces, or usurped power.
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B. |
Loss in time of peace or war resulting from nuclear
fission or fusion or radioactivity, or biological or chemical
agents or hazards, or fire, smoke, or explosion, or the effects of
any of the foregoing.
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C. |
Loss resulting from any Dishonest or Fraudulent Act
committed by any person while acting in the capacity of a member of
the Board of Directors or any equivalent body of the Insured or of
any other entity.
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D. |
Loss resulting from any nonpayment or other default of
any loan or similar transaction made by the Insured or any of its
partners, directors, officers or employees, whether or not
authorized and whether procured in good faith or through a
Dishonest or Fraudulent Act, unless such loss is otherwise covered
under Insuring Agreement A, E, or F.
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E. |
Loss resulting from any violation by the Insured or by
any Employee of any law, or any rule or regulation pursuant thereto
or adopted by a Self-Regulatory Organization, regulating the
issuance, purchase or sale of securities, securities transactions
upon security exchanges or over the counter markets, Investment
Companies, or investment advisers, unless such loss, in the absence
of such law, rule or regulation, would be covered under Insuring
Agreement A, E, or F.
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F. |
Loss resulting from Property that is the object of a
Dishonest or Fraudulent Act or Mysterious Disappearance while in
the custody of any Security Company, unless such loss is covered
under this Bond and is in excess of the amount recovered or
received by the Insured under (1) the Insured’s contract with
such Security Company, and (2) insurance or indemnity of any
kind carried by such Security Company for the benefit of, or
otherwise available to, users of its service, in which case this
Bond shall cover only such excess, subject to the applicable Limit
of Liability and Deductible Amount.
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G. |
Potential income, including but not limited to
interest and dividends, not realized by the Insured because of a
loss covered under this Bond, except when covered under Insuring
Agreement H.
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H. |
Loss in the form of (1) damages of any type for
which the Insured is legally liable, except direct compensatory
damages, or (2) taxes, fines, or penalties, including without
limitation two-thirds of
treble damage awards pursuant to judgments under any statute or
regulation.
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I. |
Loss resulting from the surrender of Property away
from an office of the Insured as a result of kidnap, ransom, or
extortion, or a threat
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|
(1) |
to do bodily harm to any person, except where the
Property is in transit in the custody of any person acting as
messenger as a result of a threat to do bodily harm to such person,
if the Insured had no knowledge of such threat at the time such
transit was initiated, or
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|
(2) |
to do damage to the premises or Property of the
Insured,
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unless such loss is otherwise covered under Insuring Agreement
A.
J. |
All costs, fees, and other expenses incurred by the
Insured in establishing the existence of or amount of loss covered
under this Bond, except to the extent certain audit expenses are
covered under Insuring Agreement B.
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K. |
Loss resulting from payments made to or withdrawals
from any account, involving funds erroneously credited to such
account, unless such loss is otherwise covered under Insuring
Agreement A.
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L. |
Loss resulting from uncollectible Items of Deposit
which are drawn upon a financial institution outside the United
States of America, its territories and possessions, or Canada.
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M. |
Loss resulting from the Dishonest or Fraudulent Acts
or other acts or omissions of an Employee primarily engaged in the
sale of shares issued by an Investment Company to persons other
than (1) a person registered as a broker under the Securities
Exchange Act of 1934 or (2) an “accredited investor” as
defined in Rule 501(a) of Regulation D under the Securities Act of
1933, which is not an individual.
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N. |
Loss resulting from the use of credit, debit, charge,
access, convenience, identification, cash management or other
cards, whether such cards were issued or purport to have been
issued by the Insured or by anyone else, unless such loss is
otherwise covered under Insuring Agreement A.
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O. |
Loss resulting from any purchase, redemption or
exchange of securities issued by an Investment Company or other
Insured, or any other instruction, request, acknowledgement, notice
or transaction involving securities issued by an Investment Company
or other Insured or the dividends in respect thereof, when any of
the foregoing is requested, authorized or directed or purported to
be requested, authorized or directed by voice over the telephone or
by Electronic Transmission, unless such loss is otherwise covered
under Insuring Agreement A or Insuring Agreement I.
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P. |
Loss resulting from any Dishonest or Fraudulent Act or
committed by an Employee as defined in Section 1.N(2), unless
such loss (1) could not have been reasonably discovered by the
due diligence of the Insured at or prior to the time of acquisition
by the Insured of the assets acquired from a predecessor, and
(2) arose out of a lawsuit or valid claim brought against the
Insured by a person unaffiliated with the Insured or with any
person affiliated with the Insured.
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Q. |
Loss resulting from the unauthorized entry of data
into, or the deletion or destruction of data in, or the change of
data elements or programs within, any Computer System, unless such
loss is otherwise covered under Insuring Agreement A.
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R. |
Loss resulting from the theft, disappearance,
destruction, disclosure, or unauthorized use of confidential or
personal information (including, but not limited to, trade secrets,
personal shareholder or client information, shareholder or client
lists, personally identifiable financial or medical information,
intellectual property, or any other type of non-public information), whether such
information is owned by the Insured or held by the Insured in any
capacity (including concurrently with another person); provided,
however, this exclusion shall not apply to loss arising out of the
use of such information to support or facilitate the commission of
an act otherwise covered by this Bond.
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S. |
All costs, fees, and other expenses arising from a
data security breach or incident, including, but not limited to,
forensic audit expenses, fines, penalties, expenses to comply with
federal and state laws and expenses related to notifying affected
individuals.
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T. |
Loss resulting from vandalism or malicious
mischief.
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U. |
Loss resulting from the theft, disappearance, or
destruction of Cryptocurrency or from the change in value of
Cryptocurrency, unless such loss (1) is sustained by any
investment company registered under the Investment Company Act of
1940 that is named as an Insured and (2) is otherwise covered
under Insuring Agreement A.
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SECTION 3. ASSIGNMENT OF RIGHTS
Upon payment to the Insured hereunder for any loss, the Underwriter
shall be subrogated to the extent of such payment to all of the
Insured’s rights and claims in connection with such loss; provided,
however, that the Underwriter shall not be subrogated to any such
rights or claims one named Insured under this Bond may have against
another named Insured under this Bond. At the request of the
Underwriter, the Insured shall execute all assignments or other
documents and take such action as the Underwriter may deem
necessary or desirable to secure and perfect such rights and
claims, including the execution of documents necessary to enable
the Underwriter to bring suit in the name of the Insured.
Assignment of any rights or claims under this Bond shall not bind
the Underwriter without the Underwriter’s written consent.
SECTION 4. LOSS—NOTICE—PROOF—LEGAL
PROCEEDINGS
This Bond is for the use and benefit only of the Insured and the
Underwriter shall not be liable hereunder to anyone other than the
Insured. As soon as practicable and not more than sixty
(60) days after discovery of any loss covered hereunder, the
Insured shall give the Underwriter written notice thereof and, as
soon as practicable and within one year after such discovery, shall
also furnish to the Underwriter affirmative proof of loss with full
particulars. The Underwriter may extend the sixty-day notice period or the
one-year proof of loss
period if the Insured requests an extension and shows good cause
therefor.
The Insured shall provide the Underwriter with such information,
assistance, and cooperation as the Underwriter may reasonably
request.
See also General Agreement C (Court Costs and Attorneys’ Fees).
The Underwriter shall not be liable hereunder for loss of
Securities unless each of the Securities is identified in such
proof of loss by a certificate or bond number or by such
identification means as the Underwriter may require. The
Underwriter shall have a reasonable period after receipt of a
proper affirmative proof of loss within which to investigate the
claim, but where the Property is Securities and the loss is clear
and undisputed, settlement shall be made within forty-eight
(48) hours even if the loss involves Securities of which
duplicates may be obtained.
The Insured shall not bring legal proceedings against the
Underwriter to recover any loss hereunder prior to sixty
(60) days after filing such proof of loss or subsequent to
twenty-four (24) months after the discovery of such loss or,
in the case of a legal proceeding to recover hereunder on account
of any judgment against the Insured in or settlement of any suit
mentioned in General Agreement C or to recover court costs or
attorneys’ fees paid in any such suit, twenty-four (24) months
after the date of the final judgment in or settlement of such suit.
If any limitation in this Bond is prohibited by any applicable law,
such limitation shall be deemed to be amended to be equal to the
minimum period of limitation permitted by such law.
Notice hereunder shall be given to Manager, Professional Liability
Claims, ICI Mutual Insurance Company, RRG, 1401 H St. NW,
Washington, DC 20005, with an electronic copy to
LegalSupport@icimutual.com.
SECTION 5. DISCOVERY
For all purposes under this Bond, a loss is discovered, and
discovery of a loss occurs, when the Insured
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(1) |
becomes aware of facts, or
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|
(2) |
receives notice of an actual or potential claim by a
third party which alleges that the Insured is liable under
circumstances,
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which would cause a reasonable person to assume that a loss of a
type covered by this Bond has been or is likely to be incurred,
regardless of when the act or acts causing or contributing to such
loss occurred, even though the exact amount or details of the loss
may not be known.
SECTION 6. VALUATION OF PROPERTY
For the purpose of determining the amount of any loss hereunder,
the value of any Property shall be the market value of such
Property at the close of business on the first business day before
the discovery of such loss; except that
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(1) |
the value of any Property replaced by the Insured
prior to the payment of a claim therefor shall be the actual market
value of such Property at the time of replacement, but not in
excess of the market value of such Property on the first business
day before the discovery of the loss of such Property;
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(2) |
the value of Securities which must be produced to
exercise subscription, conversion, redemption or deposit privileges
shall be the market value of such privileges immediately preceding
the expiration thereof if the loss of such Securities is not
discovered until after such expiration, but if there is no quoted
or other ascertainable market price for such Property or privileges
referred to in clauses (1) and (2), their value shall be fixed
by agreement between the parties or by arbitration before an
arbitrator or arbitrators acceptable to the parties; and
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(3) |
the value of books of accounts or other records used
by the Insured in the conduct of its business shall be limited to
the actual cost of blank books, blank pages or other materials if
the books or records are reproduced plus the cost of labor for the
transcription or copying of data furnished by the Insured for
reproduction.
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SECTION 7. LOST SECURITIES
The maximum liability of the Underwriter hereunder for lost
Securities shall be the payment for, or replacement of, such
Securities having an aggregate value not to exceed the applicable
Limit of Liability. If the Underwriter shall make payment to the
Insured for any loss of Securities, the Insured shall assign to the
Underwriter all of the Insured’s right, title and interest in and
to such Securities. In lieu of such payment, the Underwriter may,
at its option, replace such lost Securities, and in such case the
Insured shall cooperate to effect such replacement. To effect the
replacement of lost Securities, the Underwriter may issue or
arrange for the issuance of a lost instrument bond. If the value of
such Securities does not exceed the applicable Deductible Amount
(at the time of the discovery of the loss), the Insured will pay
the usual premium charged for the lost instrument bond and will
indemnify the issuer of such bond against all loss and expense that
it may sustain because of the issuance of such bond.
If the value of such Securities exceeds the applicable Deductible
Amount (at the time of discovery of the loss), the Insured will pay
a proportion of the usual premium charged for the lost instrument
bond, equal to the percentage that the applicable Deductible Amount
bears to the value of such Securities upon discovery of the loss,
and will indemnify the issuer of such bond against all loss and
expense that is not recovered from the Underwriter under the terms
and conditions of this Bond, subject to the applicable Limit of
Liability.
SECTION 8. SALVAGE
If any recovery is made, whether by the Insured or the Underwriter,
on account of any loss within the applicable Limit of Liability
hereunder, the Underwriter shall be entitled to the full amount of
such recovery to reimburse the Underwriter for all amounts paid
hereunder with respect to such loss. If any recovery is made,
whether by the Insured or the Underwriter, on account of any loss
in excess of the applicable Limit of Liability hereunder plus the
Deductible Amount applicable to such loss from any source other
than suretyship, insurance, reinsurance, security or indemnity
taken by or for the
benefit of the Underwriter, the amount of such recovery, net of the
actual costs and expenses of recovery, shall be applied to
reimburse the Insured in full for the portion of such loss in
excess of such Limit of Liability, and the remainder, if any, shall
be paid first to reimburse the Underwriter for all amounts paid
hereunder with respect to such loss and then to the Insured to the
extent of the portion of such loss within the Deductible Amount.
The Insured shall execute all documents which the Underwriter deems
necessary or desirable to secure to the Underwriter the rights
provided for herein.
SECTION 9. NON-REDUCTION
AND NON-ACCUMULATION OF
LIABILITY AND TOTAL LIABILITY
Prior to its termination, this Bond shall continue in force up to
the Limit of Liability for each Insuring Agreement for each Single
Loss, notwithstanding any previous loss (other than such Single
Loss) for which the Underwriter may have paid or be liable to pay
hereunder; PROVIDED, however, that regardless of the number of
years this Bond shall continue in force and the number of premiums
which shall be payable or paid, the liability of the Underwriter
under this Bond with respect to any Single Loss shall be limited to
the applicable Limit of Liability irrespective of the total amount
of such Single Loss and shall not be cumulative in amounts from
year to year or from period to period.
SECTION 10. MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR
POLICIES
The maximum liability of the Underwriter for any Single Loss
covered by any Insuring Agreement under this Bond shall be the
Limit of Liability applicable to such Insuring Agreement, subject
to the applicable Deductible Amount and the other provisions of
this Bond. Recovery for any Single Loss may not be made under more
than one Insuring Agreement. If any Single Loss covered under this
Bond is recoverable or recovered in whole or in part because of an
unexpired discovery period under any other bonds or policies issued
by the Underwriter to the Insured or to any predecessor in interest
of the Insured, the maximum liability of the Underwriter shall be
the greater of either (1) the applicable Limit of Liability
under this Bond, or (2) the maximum liability of the
Underwriter under such other bonds or policies.
SECTION 11. OTHER INSURANCE
Notwithstanding anything to the contrary herein, if any loss
covered by this Bond shall also be covered by other insurance or
suretyship for the benefit of the Insured, the Underwriter shall be
liable hereunder only for the portion of such loss in excess of the
amount recoverable under such other insurance or suretyship, but
not exceeding the applicable Limit of Liability of this Bond.
SECTION 12. DEDUCTIBLE AMOUNT
The Underwriter shall not be liable under any Insuring Agreement
unless the amount of the loss covered thereunder, after deducting
the net amount of all reimbursement and/or recovery received by the
Insured with respect to such loss (other than from any other bond,
suretyship or insurance policy or as an advance by the Underwriter
hereunder) shall exceed the applicable Deductible Amount; in such
case the Underwriter shall be liable only for such excess, subject
to the applicable Limit of Liability and the other terms of this
Bond.
No Deductible Amount shall apply to any loss covered under Insuring
Agreement A sustained by any Investment Company named as an
Insured.
SECTION 13. TERMINATION
The Underwriter may terminate this Bond as to any Insured or all
Insureds only by written notice to such Insured or Insureds and, if
this Bond is terminated as to any Investment Company, to each such
Investment Company terminated thereby and to the Securities and
Exchange Commission, Washington, D.C., in all cases not less than
sixty (60) days prior to the effective date of termination
specified in such notice.
The Insured may terminate this Bond only by written notice to the
Underwriter not less than sixty (60) days prior to the
effective date of the termination specified in such notice.
Notwithstanding the foregoing, when the Insured terminates this
Bond as to any Investment Company, the effective date of
termination shall be not less than sixty (60) days from the
date the Underwriter provides written notice of the termination to
each such Investment Company terminated thereby and to the
Securities and Exchange Commission, Washington, D.C.
This Bond will terminate as to any Insured that is a Non-Fund immediately and without notice
upon (1) the takeover of such Insured’s business by any State
or Federal official or agency, or by any receiver or liquidator, or
(2) the filing of a petition under any State or Federal
statute relative to bankruptcy or reorganization of the Insured, or
assignment for the benefit of creditors of the Insured.
Premiums are earned until the effective date of termination. The
Underwriter shall refund the unearned premium computed at short
rates in accordance with the Underwriter’s standard short rate
cancellation tables if this Bond is terminated by the Insured or
pro rata if this Bond is terminated by the Underwriter.
Upon the detection by any Insured that an Employee has committed
any Dishonest or Fraudulent Act(s), the Insured shall immediately
remove such Employee from a position that may enable such Employee
to cause the Insured to suffer a loss by any subsequent Dishonest
or Fraudulent Act(s). The Insured, within two (2) business
days of such detection, shall notify the Underwriter with full and
complete particulars of the detected Dishonest or Fraudulent
Act(s).
For purposes of this section, detection occurs when any partner,
officer, or supervisory employee of any Insured, who is not in
collusion with such Employee, becomes aware that the Employee has
committed any Dishonest or Fraudulent Act(s).
This Bond shall terminate as to any Employee by written notice from
the Underwriter to each Insured and, if such Employee is an
Employee of an Insured Investment Company, to the Securities and
Exchange Commission, in all cases not less than sixty
(60) days prior to the effective date of termination specified
in such notice.
SECTION 14. RIGHTS AFTER TERMINATION
At any time prior to the effective date of termination of this Bond
as to any Insured, such Insured may, by written notice to the
Underwriter, elect to purchase the right under this Bond to an
additional period of twelve (12) months within which to
discover loss sustained by such Insured prior to the effective date
of such termination and shall pay an additional premium therefor as
the Underwriter may require.
Such additional discovery period shall terminate immediately and
without notice upon the takeover of such Insured’s business by any
State or Federal official or agency, or by any receiver or
liquidator. Promptly after such termination the Underwriter shall
refund to the Insured any unearned premium.
The right to purchase such additional discovery period may not be
exercised by any State or Federal official or agency, or by any
receiver or liquidator, acting or appointed to take over the
Insured’s business.
SECTION 15. CENTRAL HANDLING OF SECURITIES
The Underwriter shall not be liable for loss in connection with the
central handling of securities within the systems established and
maintained by any Depository (“Systems”), unless the amount of such
loss exceeds the amount recoverable or recovered under any bond or
policy or participants’ fund insuring the Depository against such
loss (the “Depository’s Recovery”); in such case the Underwriter
shall be liable hereunder only for the Insured’s share of such
excess loss, subject to the applicable Limit of Liability, the
Deductible Amount and the other terms of this Bond.
For determining the Insured’s share of such excess loss,
(1) the Insured shall be deemed to have an interest in any
certificate representing any security included within the Systems
equivalent to the interest the Insured then has in all certificates
representing the same security included within the Systems;
(2) the Depository shall have reasonably and fairly
apportioned the Depository’s Recovery among all those having an
interest as recorded by appropriate entries in the books and
records of the Depository in Property involved in such loss, so
that each such interest shall share in the Depository’s Recovery in
the ratio that the value of each such interest bears to the total
value of all such interests; and (3) the Insured’s share of
such excess loss shall be the amount of the Insured’s interest in
such Property in excess of the amount(s) so apportioned to the
Insured by the Depository.
This Bond does not afford coverage in favor of any Depository or
Exchange or any nominee in whose name is registered any security
included within the Systems.
SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED
If more than one entity is named as the Insured:
|
A. |
the total liability of the Underwriter hereunder for
each Single Loss shall not exceed the Limit of Liability which
would be applicable if there were only one named Insured,
regardless of the number of Insured entities which sustain loss as
a result of such Single Loss,
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B. |
the Insured first named in Item 1 of the Declarations
shall be deemed authorized to make, adjust, and settle, and receive
and enforce payment of, all claims hereunder as the agent of each
other Insured for such purposes and for the giving or receiving of
any notice required or permitted to be given hereunder; provided,
that the Underwriter shall promptly furnish each named Insured
Investment Company with (1) a copy of this Bond and any
amendments thereto, (2) a copy of each formal filing of a
claim hereunder by any other Insured, and (3) notification of
the terms of the settlement of each such claim prior to the
execution of such settlement,
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C. |
the Underwriter shall not be responsible or have any
liability for the proper application by the Insured first named in
Item 1 of the Declarations of any payment made hereunder to the
first named Insured,
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D. |
for the purposes of Sections 4 and 13, knowledge
possessed or discovery made by any partner, officer or supervisory
Employee of any Insured shall constitute knowledge or discovery by
every named Insured,
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E. |
if the first named Insured ceases for any reason to be
covered under this Bond, then the Insured next named shall
thereafter be considered as the first named Insured for the
purposes of this Bond, and
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F. |
each named Insured shall constitute “the Insured” for
all purposes of this Bond.
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SECTION 17. NOTICE AND CHANGE OF CONTROL
Within thirty (30) days after learning that there has been a
change in control of an Insured by transfer of its outstanding
voting securities the Insured shall give written notice to the
Underwriter of:
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A. |
the names of the transferors and transferees (or the
names of the beneficial owners if the voting securities are
registered in another name), and
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B. |
the total number of voting securities owned by the
transferors and the transferees (or the beneficial owners), both
immediately before and after the transfer, and
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C. |
the total number of outstanding voting securities.
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As used in this Section, “control” means the power to exercise a
controlling influence over the management or policies of the
Insured.
SECTION 18. CHANGE OR MODIFICATION
This Bond may only be modified by written Rider forming a part
hereof over the signature of the Underwriter’s authorized
representative. Any Rider which modifies the coverage provided by
Insuring Agreement A, Fidelity, in a manner which adversely affects
the rights of an Insured Investment Company shall not become
effective until at least sixty (60) days after the Underwriter
has given written notice thereof to the Securities and Exchange
Commission, Washington, D.C., and to each Insured Investment
Company affected thereby.
SECTION 19. COMPLIANCE WITH APPLICABLE TRADE AND ECONOMIC
SANCTIONS
This Bond shall not be deemed to provide any coverage, and the
Underwriter shall not be required to pay any loss or provide any
benefit hereunder, to the extent that the provision of such
coverage, payment of such loss or provision of such benefit would
cause the Underwriter to be in violation of any applicable trade or
economic sanctions, laws or regulations, including, but not limited
to, any sanctions, laws or regulations administered and enforced by
the U.S. Department of Treasury Office of Foreign Assets Control
(OFAC).
SECTION 20. ANTI-BUNDLING
If any Insuring Agreement requires that an enumerated type of
document be Counterfeit, or contain a Forgery or Alteration, the
Counterfeit, Forgery, or Alteration must be on or of the enumerated
document itself, not on or of some other document submitted with,
accompanying or incorporated by reference into the enumerated
document.
IN WITNESS WHEREOF, the Underwriter has caused this Bond to be
executed on the Declarations Page.
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 1
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INSURED |
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BOND NUMBER |
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Franklin Alternative Strategies Funds |
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87170121B |
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EFFECTIVE DATE |
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BOND
PERIOD |
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AUTHORIZED
REPRESENTATIVE |
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June 30, 2021 |
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June 30, 2021 to June 30, 2022 |
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/S/
Maggie Sullivan |
NAMED INSURED COMPANY RIDER (FUNDS-ONLY
OMNIBUS)
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that Item 1 of the Declarations, Name of
Insured, shall include the following:
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(1) |
any Investment Company (or portfolio thereof) existing
as of the Effective Date of this Bond that is advised, distributed,
or administered by Franklin Resources, Inc. (“FRI”) or any Existing
Subsidiary and which FRI has made a good faith effort to identify
as a proposed Insured in the Application or any attachments
thereto;
|
|
(2) |
any Investment Company (or portfolio thereof)
newly-created after the Effective Date of this Bond that is
advised, distributed, or administered by FRI or any Existing
Subsidiary (provided, in each case, that FRI or an Existing
Subsidiary has responsibility for placing insurance coverage for
such newly-created Investment Company); and
|
|
(3) |
any Inactive Investment Company (or portfolio
thereof);
|
provided, however, that notwithstanding the foregoing, Item 1 of
the Declarations, Name of Insured, shall in no event include any
Investment Company (or any portfolio of any Investment Company)
that is insured under the Royce Bond.
It is further understood and agreed that notwithstanding the
foregoing, and regardless of how many times this Bond (or this
rider) may hereafter be renewed, an Inactive Investment Company (or
portfolio thereof) shall automatically cease to be an Insured eight
years following its Inactive Date.
It is further understood and agreed that:
|
(a) |
“Existing Subsidiary,” shall mean any entity
wholly-owned (directly or indirectly) by FRI as of the Effective
Date of this Bond which FRI has made a good faith effort to
identify in the Application or any attachment thereto;
|
|
(b) |
“Inactive Investment Company” shall mean any
Investment Company (or portfolio thereof) (1) that has no
active operations of its own, either by reason of previously
(i) having had substantially all of its assets acquired by an
Investment Company that is an
|
|
Insured, (ii) having been merged
into another Investment Company that is an Insured, or
(iii) having been liquidated; and (2) that was an
Insured under any prior Predecessor FRI/LM Bond issued by the
Underwriter under which bond such Investment Company was an
Insured; |
|
(c) |
“Inactive Date” as regards an Inactive Investment
Company (or portfolio thereof) is the Date that such Inactive
Investment Company (or portfolio thereof) ceased operations by
reason of subpart (1)(i), (ii), or (iii) of the definition of
“Inactive Investment Company;”
|
|
(d) |
“Predecessor FRI/LM Bond” shall mean any Investment
Company Blanket Bond (i) that incepted prior to the Effective
Date of this Bond and (ii) under which any Investment Company
(or portfolio thereof) that was advised, distributed, or
administered by FRI or an Existing Subsidiary was an Insured, but a
Predecessor FRI/LM Bond shall in no event include any Royce Bond;
and
|
|
(e) |
“Royce Bond” shall mean ICI Mutual Investment Company
Blanket Bond No. 87091121B (or any predecessor to, or any renewal
or replacement thereof).
|
It is further understood and agreed that the title in this rider is
included solely for convenience and shall not itself be deemed to
be a term or condition of coverage, or a description or
interpretation thereof.
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RNV0001.0-01-170 (06/21)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 2
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that notwithstanding Section 2.Q of this
Bond, this Bond is amended by adding an additional Insuring
Agreement J as follows:
Loss (including loss of Property) resulting directly from Computer
Fraud; provided, that the Insured has adopted in writing and
generally maintains and follows during the Bond Period all Computer
Security Procedures. The isolated failure of the Insured to
maintain and follow a particular Computer Security Procedure in a
particular instance will not preclude coverage under this Insuring
Agreement, subject to the specific exclusions herein and in the
Bond.
|
1. |
Definitions. The following terms used in this
Insuring Agreement shall have the following meanings:
|
|
a. |
“Authorized User” means any person or entity
designated by the Insured (through contract, assignment of User
Identification, or otherwise) as authorized to use a Covered
Computer System, or any part thereof. An individual who invests in
an Insured Fund shall not be considered to be an Authorized User
solely by virtue of being an investor.
|
|
b. |
“Computer Fraud” means the unauthorized entry of data
into, or the deletion or destruction of data in, or change of data
elements or programs within, a Covered Computer System which:
|
|
(1) |
is committed by any Unauthorized Third Party anywhere,
alone or in collusion with other Unauthorized Third Parties;
and
|
|
(2) |
is committed with the conscious manifest intent
(a) to cause the Insured to sustain a loss, and
(b) to obtain financial benefit for the perpetrator or any
other person; and
|
|
(3) |
causes (x) Property to be transferred, paid or
delivered; or (y) an account of the Insured, or of its
customer, to be added, deleted, debited or credited; or
(z) an unauthorized or fictitious account to be debited or
credited.
|
|
c. |
“Computer Security Procedures” means procedures for
prevention of unauthorized computer access and use and
administration of computer access and use as provided in writing to
the Underwriter.
|
|
d. |
“Covered Computer System” means any Computer System as
to which the Insured has possession, custody and control.
|
|
e. |
“Unauthorized Third Party” means any person or entity
that, at the time of the Computer Fraud, is not an Authorized
User.
|
|
f. |
“User Identification” means any unique user name
(i.e., a series of characters) that is assigned to a person
or entity by the Insured.
|
|
2. |
Exclusions. It is further understood and agreed
that this Insuring Agreement J shall not cover:
|
|
a. |
Any loss covered under Insuring Agreement A,
“Fidelity,” of this Bond; and
|
|
b. |
Any loss resulting from the intentional failure to
adhere to one or more Computer Security Procedures; and
|
|
c. |
Any loss resulting from a Computer Fraud committed by
or in collusion with:
|
|
(1) |
any Authorized User (whether a natural person or an
entity); or
|
|
(2) |
in the case of any Authorized User which is an entity,
(a) any director, officer, partner, employee or agent of such
Authorized User, or (b) any entity which controls, is
controlled by, or is under common control with such Authorized User
(“Related Entity”), or (c) any director, officer, partner,
employee or agent of such Related Entity; or
|
|
(3) |
in the case of any Authorized User who is a natural
person, (a) any entity for which such Authorized User is a
director, officer, partner, employee or agent (“Employer Entity”),
or (b) any director, officer, partner, employee or agent of
such Employer Entity, or (c) any entity which controls, is
controlled by, or is under common control with such Employer Entity
(“Employer-Related Entity”), or (d) any director, officer,
partner, employee or agent of such Employer-Related Entity;
|
and
|
d. |
Any loss resulting from physical damage to or
destruction of any Covered Computer System, or any part thereof, or
any data, data elements or media associated therewith;
and
|
|
e. |
Any loss not directly and proximately caused by
Computer Fraud (including, without limitation, disruption of
business and extra expense); and
|
|
f. |
Payments made to any person(s) who has threatened to
deny or has denied authorized access to a Covered Computer System
or otherwise has threatened to disrupt the business of the
Insured.
|
For purposes of this Insuring Agreement, “Single Loss,” as defined
in Section 1.EE of this Bond, shall also include all loss
caused by Computer Fraud(s) committed by one person, or in which
one person is implicated, whether or not that person is
specifically identified. A series of losses involving unidentified
individuals, but arising from the same method of operation, may be
deemed by the Underwriter to involve the same individual and in
that event shall be treated as a Single Loss.
It is further understood and agreed that nothing in this Rider
shall affect the exclusion set forth in Section 2.O of this
Bond.
Coverage under this Insuring Agreement shall terminate upon
termination of this Bond. Coverage under this Insuring Agreement
may also be terminated without terminating this Bond as an
entirety:
|
(a) |
by written notice from the Underwriter not less than
sixty (60) days prior to the effective date of termination
specified in such notice; or
|
|
(b) |
immediately by written notice from the Insured to the
Underwriter.
|
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RN0019.1-00 (07/18)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 3
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that the exclusion set forth at
Section 2.M of this Bond shall not apply with respect to loss
resulting from the Dishonest or Fraudulent Acts or other acts or
omissions of an Employee in connection with offers or sales of
securities issued by an Insured Fund if such Employee (a) is
an employee of that Fund or of its investment adviser, principal
underwriter, or affiliated transfer agent, and (b) who is
communicating with purchasers of such securities only in person in
an office of an Insured or by telephone or in writing, and
(c) does not receive commissions on such sales;
provided, that such Dishonest or Fraudulent Acts or other
acts or omissions do not involve, and such loss does not arise
from, a statement or representation which is not
(1) contained in a currently effective prospectus regarding
such securities, which has been filed with the Securities and
Exchange Commission, or (2) made as part of a scripted
response to a question regarding that Fund or such securities, if
the script has been filed with, and not objected to by, the
Financial Industry Regulatory Authority, Inc. and if the entire
scripted response has been read to the caller, and if any response
concerning the performance of such securities is not outdated.
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RNV0026.0-03-170 (03/93)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 4
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that this Bond does not cover any loss
resulting from or in connection with the acceptance of any Third
Party Check, unless
|
(1) |
such Third Party Check is used to open or increase an
account which is registered in the name of one or more of the
payees on such Third Party Check, and
|
|
(2) |
reasonable efforts are made by the Insured, or by the
entity receiving Third Party Checks on behalf of the Insured, to
verify all endorsements on all Third Party Checks made payable in
amounts greater than $100,000 (provided, however, that the isolated
failure to make such efforts in a particular instance will not
preclude coverage, subject to the exclusions herein and in the
Bond),
|
and then only to the extent such loss is otherwise covered under
this Bond.
For purposes of this Rider, “Third Party Check” means a check made
payable to one or more parties and offered as payment to one or
more other parties.
It is further understood and agreed that notwithstanding anything
to the contrary above or elsewhere in the Bond, this Bond does not
cover any loss resulting from or in connection with the acceptance
of a Third Party Check where:
|
(1) |
any payee on such Third Party Check reasonably appears
to be a corporation or other entity; or
|
|
(2) |
such Third Party Check is made payable in an amount
greater than $100,000 and does not include the purported
endorsements of all payees on such Third Party Check.
|
It is further understood and agreed that this Rider shall not apply
with respect to any coverage that may be available under Insuring
Agreement A, “Fidelity.”
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RN0030.0-01 (01/02)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 5
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
AMENDED DEFINITION OF “EMPLOYEE” RIDER
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that the definition of “Employee” in
Section 1.N(6) of this Bond shall be amended to include any
individual assigned, on a contingent or part-time basis, to perform
the usual duties of an employee in any office of the Insured,
provided that in the case of an individual assigned other
than by an agency furnishing temporary personnel, such individual
has passed a Successful Background Check conducted by or on behalf
of the Insured.
It is further understood and agreed that for purposes of this
rider, a “Successful Background Check” shall mean a background
check (including contact with the individual’s previous employers
and personal references and utilization of a private investigation
agency), which results in a determination by the Insured that the
individual has satisfied the security criteria established by the
Insured for hiring employees on a permanent basis.
It is further understood and agreed that the title in this rider is
included solely for convenience and shall not itself be deemed to
be a term or condition of coverage, or a description or
interpretation thereof.
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RNM0036.0-00-170 (06/21)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 6
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that the references in Section 13,
Termination, to “not less than sixty (60) days” shall be
modified to read “not less than ninety (90) days.”
It is further understood and agreed that the sixth paragraph of
Section 13, Termination, is amended to read as follows:
“For purposes of this section, detection occurs when any
professional employee of the Legal, Compliance or Risk Management
Departments of the Insured, who is not in collusion with such
Employee, becomes aware that the Employee has committed any
Dishonest or Fraudulent Act(s).”
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RNM0045.0-00-170 (06/21)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 7
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
In consideration for the premium charged for this Bond, it is
hereby understood and agreed that notwithstanding anything to the
contrary in this Bond (including Insuring Agreement I), this Bond
does not cover any loss resulting from any Online Redemption(s) or
Online Purchase(s) involving an aggregate amount in excess of Five
Hundred Thousand Dollars ($500,000) per shareholder account per
day, unless before such redemption(s) or purchase(s), in a
procedure initiated by the Insured or by the entity receiving the
request for such Online Redemption(s) or Online Purchase(s):
|
(a) |
the Shareholder of Record verifies, by some method
other than an Electronic Transmission effected over the Internet,
that each such redemption or purchase has been authorized, and
|
|
(b) |
if such redemption or purchase is to be effected by
wire to or from a particular bank account, a duly authorized
employee of the bank verifies the account number to or from which
funds are being transferred, and that the name on the account is
the same as the name of the intended recipient of the proceeds.
|
It is further understood and agreed that, notwithstanding the Limit
of Liability set forth herein or any other provision of this Bond,
the Limit of Liability with respect to any Single Loss caused by an
Online Transaction shall be Twenty-Five Million Dollars
($25,000,000) and the Deductible Amount applicable to any such
Single Loss is One Hundred Thousand Dollars ($100,000).
It is further understood and agreed that, notwithstanding
Section 9, Non-Reduction and Non-Accumulation of Liability and Total
Liability, or any other provision of this Bond, the Aggregate Limit
of Liability of the Underwriter under this Bond with respect to any
and all loss or losses caused by Online Transactions shall be an
aggregate of Twenty-Five Million Dollars ($25,000,000) for the Bond
Period, irrespective of the total amount of such loss or
losses.
For purposes of this Rider, the following terms shall have the
following meanings:
“Online Purchase” means any purchase of shares issued by an
Investment Company, which purchase is requested through an
Electronic Transmission over the Internet.
“Online Redemption” means any redemption of shares issued by an
Investment Company, which redemption is requested through an
Electronic Transmission over the Internet.
“Online Transaction” means any Phone/Electronic Transaction
requested through an Electronic Transmission over the Internet.
Except as above stated, nothing herein shall be held to alter,
waive, or extend any of the terms of this Bond.
RN0038.0-02 (06/18)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 8
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
Most property and casualty insurers, including ICI Mutual Insurance
Company, a Risk Retention Group (“ICI Mutual”), are subject to the
requirements of the Terrorism Risk Insurance Act of 2002, as
amended (the “Act”). The Act establishes a federal insurance
backstop under which ICI Mutual and these other insurers may be
partially reimbursed by the United States Government for future
“insured losses” resulting from certified “acts of
terrorism.” (Each of these bolded terms is defined by
the Act.) The Act also places certain disclosure and other
obligations on ICI Mutual and these other insurers.
Pursuant to the Act, any future losses to ICI Mutual caused by
certified “acts of terrorism” may be partially reimbursed by
the United States government under a formula established by the
Act. Under this formula, the United States government would
generally reimburse ICI Mutual for the Federal Share of
Compensation of ICI Mutual’s “insured losses” in excess of
ICI Mutual’s “insurer deductible” until total “insured
losses” of all participating insurers reach $100 billion
(the “Cap on Annual Liability”). If total “insured losses”
of all property and casualty insurers reach the Cap on Annual
Liability in any one calendar year, the Act limits U.S. Government
reimbursement and provides that the insurers will not be liable
under their policies for their portions of such losses that exceed
such amount. Amounts otherwise payable under this Bond may be
reduced as a result.
This Bond has no express exclusion for “acts of terrorism.”
However, coverage under this Bond remains subject to all applicable
terms, conditions, and limitations of the Bond (including
exclusions) that are permissible under the Act.
The portion of the premium that is attributable to any coverage
potentially available under the Bond for “acts of terrorism”
is one percent (1%) and does not include any charges for the
portion of loss that may be covered by the U.S. Government under
the Act.
As used herein, “Federal Share of Compensation” shall mean 80%
beginning on January 1, 2020.
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RN0053.1-01 (05/21)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 9
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that the Underwriter shall use its best
efforts to enter into an agreement with each Facultative Reinsurer
on this Bond, regarding the Insureds’ rights against such
Facultative Reinsurer (“Cut Through Agreement”), in substantially
the form(s) reviewed and agreed to by the Insureds.
It is further understood and agreed that as used in this rider,
“Facultative Reinsurer” means any entity providing reinsurance for
this Bond to the Underwriter on a facultative basis (and always
excluding any entity providing reinsurance for this Bond to the
Underwriter pursuant to treaty).
Nothing herein contained shall be held to vary, alter, waive or
extend any of the terms, conditions, provisions, agreements or
limitations of this Bond other than as above stated.
RNM0011.0-00-163 (08/20)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 10
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
SOCIAL ENGINEERING FRAUD RIDER
In consideration of the premium charged for this Bond, it is hereby
understood and agreed that this Bond is amended by adding an
additional Insuring Agreement M, as follows:
|
M. |
Social Engineering Fraud
|
Loss resulting directly from the Insured, in good faith,
transferring, paying, or delivering money from its own account as a
direct result of a Social Engineering Fraud;
PROVIDED, that the entity receiving such request generally
maintains and follows during the Bond Period all Social Engineering
Security Procedures.
The Limit of Liability for a Single Loss under this Insuring
Agreement M shall be the lesser of (a) 50% of the amount by
which such Single Loss exceeds the Deductible Amount or
(b) $1,000,000 (One Million Dollars), and the Insured shall
bear the remainder of any such Single Loss. The Deductible Amount
for this Insuring Agreement M is $250,000 (Two Hundred Fifty
Thousand Dollars).
Notwithstanding any other provision of this Bond, the aggregate
Limit of Liability under this Bond with respect to any and all loss
or losses under this Insuring Agreement M shall be $1,000,000 (One
Million Dollars) for the Bond Period, irrespective of the total
amount of such loss or losses.
This Insuring Agreement M does not cover loss covered under any
other Insuring Agreement of this Bond.
It is further understood and agreed that for purposes of this
rider:
|
1. |
“Communication” means an instruction that
(a) directs an Employee to transfer, pay, or deliver money
from the Insured’s own account, (b) contains a material
misrepresentation of fact, and (c) is relied upon by the
Employee, believing it to be true.
|
|
2. |
“Social Engineering Fraud” means the intentional
misleading of an Employee through the use of a Communication, where
such Communication:
|
|
(a) |
is transmitted to the Employee in writing, by voice
over the telephone, or by Electronic Transmission;
|
|
(b) |
is made by an individual who purports to be
(i) an Employee who is duly authorized by the Insured to
instruct another Employee to transfer, pay, or deliver money, or
(ii) an officer or employee of a Vendor who is duly authorized
by the Insured to instruct an Employee to transfer, pay, or deliver
money; and
|
|
(c) |
is unauthorized, dishonest or fraudulent and is made
with the manifest intent to deceive.
|
|
3. |
“Social Engineering Security Procedures” means
security procedures intended to prevent Social Engineering Fraud as
set forth in the Application and/or as otherwise provided in
writing to the Underwriter.
|
|
4. |
“Vendor” means any entity or individual that provides
goods or services to the Insured under a pre-existing, written agreement.
|
It is further understood and agreed that the title in this rider is
included solely for convenience and shall not itself be deemed to
be a term or condition of coverage, or a description or
interpretation thereof.
Except as above stated, nothing herein shall be held to alter,
waive, or extend any of the terms of this Bond.
RN0054.0-00 (06/21)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 11
|
|
|
INSURED |
|
BOND NUMBER |
|
|
Franklin Alternative Strategies Funds |
|
87170121B |
|
|
|
|
|
EFFECTIVE DATE |
|
BOND
PERIOD |
|
AUTHORIZED
REPRESENTATIVE |
|
|
|
June 30, 2021 |
|
June 30, 2021 to June 30, 2022 |
|
/S/
Maggie Sullivan |
ENHANCED AUTHENTICATION MEASURES RIDER
In consideration for the premium charged for this Bond, it is
hereby understood and agreed that SECTION 1. DEFINITIONS is amended
by deleting the definition of “Officially Designated” in paragraph
V in its entirety and replacing it with the following:
|
V. |
“Officially Designated” means designated by the
Shareholder of Record or the Retirement Plan Participant:
|
|
(1) |
in the initial account application,
|
|
(2) |
in writing accompanied by a signature guarantee,
|
|
(2) |
in writing or by Electronic Transmission, where such
designation is verified via a callback to the Shareholder of Record
by the Insured at a predetermined telephone number provided by the
Shareholder of Record in writing to the Insured at least thirty
(30) days prior to such callback, or
|
|
(3) |
in writing, by voice over the telephone, or by
Electronic Transmission, where the identity of the Shareholder of
Record is contemporaneously confirmed using Enhanced Authentication
Measures.
|
It is further understood and agreed that “Enhanced Authentication
Measures” shall mean gAuthenticate service provided by GIACT
Systems, LLC, as described in the email dated May 9, 2019,
from Franklin Templeton Investments to the Underwriter.
It is further understood and agreed that the title in this rider is
included solely for convenience and shall not itself be deemed to
be a term or condition of coverage, or a description or
interpretation thereof.
Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this Bond.
RN0056.0-00 (06/21)
Franklin Templeton SEC Registered Funds
Premium Allocation - June 30, 2021-2022
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
TEMPLETON FUNDS |
|
|
|
|
37 |
|
Templeton Foreign Fund
|
|
$ |
3,481.00 |
|
27103 |
|
Templeton International Climate Change Fund
|
|
$ |
3.00 |
|
31 |
|
Templeton World Fund
|
|
$ |
3,008.00 |
|
|
|
Templeton Funds (3) |
|
|
|
|
4398 |
|
Templeton Emerging Markets Small Cap Fund
|
|
$ |
502.00 |
|
4290 |
|
Templeton Global Balanced Fund
|
|
$ |
635.00 |
|
|
|
Templeton Global Investment
Trust (2) |
|
|
|
|
17283 |
|
Templeton Emerging Markets Bond Fund
|
|
$ |
21.00 |
|
97 |
|
Templeton Global Bond Fund
|
|
$ |
10,558.00 |
|
12801 |
|
Templeton Global Total Return Fund
|
|
$ |
1,359.00 |
|
12052 |
|
Templeton International Bond Fund
|
|
$ |
281.00 |
|
|
|
Templeton Income Trust
(4) |
|
|
|
|
4562 |
|
Foreign Smaller Companies Series
|
|
$ |
691.00 |
|
243 |
|
International Equity Series
|
|
$ |
430.00 |
|
|
|
Templeton Institutional Funds
(2) |
|
|
|
|
|
|
INDIVIDUAL TEMPLETON FUNDS
THAT ARE NOT PART OF A MULTI SERIES TRUST |
|
4473 |
|
Templeton China World Fund
|
|
$ |
258.00 |
|
505 |
|
Templeton Developing Markets Trust
|
|
$ |
1,633.00 |
|
581 |
|
Templeton Dragon Fund, Inc.
|
|
$ |
818.00 |
|
111 |
|
Templeton Emerging Markets Fund
|
|
$ |
321.00 |
|
555 |
|
Templeton Emerging Markets Income Fund
|
|
$ |
372.00 |
|
146 |
|
Templeton Global Income Fund
|
|
$ |
718.00 |
|
30 |
|
Templeton Global Smaller Companies Fund
|
|
$ |
1,239.00 |
|
105 |
|
Templeton Growth Fund, Inc.
|
|
$ |
9,261.00 |
|
FRANKLIN FUNDS
|
|
|
|
|
4308 |
|
Franklin DynaTech Fund
|
|
$ |
24,535.00 |
|
21293 |
|
Franklin Focused Growth Fund
|
|
$ |
89.00 |
|
4306 |
|
Franklin Growth Fund
|
|
$ |
20,060.00 |
|
4309 |
|
Franklin Income Fund
|
|
$ |
66,956.00 |
|
4110 |
|
Franklin U.S. Government Securities Fund
|
|
$ |
4,417.00 |
|
4307 |
|
Franklin Utilities Fund
|
|
$ |
5,641.00 |
|
|
|
Franklin Custodian Funds
(6) |
|
|
|
|
4021 |
|
Franklin Floating Rate Master Series
|
|
$ |
363.00 |
|
20794 |
|
Franklin Floating Rate Income Fund
|
|
$ |
— |
|
|
|
Franklin Floating Rate Master
Trust (2) |
|
|
|
|
4484 |
|
Franklin Conservative Allocation Fund
|
|
$ |
106.00 |
|
4467 |
|
Franklin Corefolio Allocation Fund
|
|
$ |
1.00 |
|
28663 |
|
Franklin Emerging Market Core Equity (IU) Fund
|
|
$ |
113.00 |
|
4468 |
|
Franklin Global Allocation Fund
|
|
$ |
2,898.00 |
|
4486 |
|
Franklin Growth Allocation Fund
|
|
$ |
121.00 |
|
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
28662 |
|
Franklin International Core Equity (IU) Fund
|
|
$ |
325.00 |
|
17743 |
|
Franklin LifeSmart 2020 retirement Target Fund
|
|
$ |
4.00 |
|
4390 |
|
Franklin LifeSmart 2025 retirement Target Fund
|
|
$ |
13.00 |
|
17740 |
|
Franklin LifeSmart 2030 retirement Target Fund
|
|
$ |
7.00 |
|
4391 |
|
Franklin LifeSmart 2035 retirement Target Fund
|
|
$ |
14.00 |
|
17742 |
|
Franklin LifeSmart 2040 retirement Target Fund
|
|
$ |
6.00 |
|
4392 |
|
Franklin LifeSmart 2045 retirement Target Fund
|
|
$ |
10.00 |
|
17741 |
|
Franklin LifeSmart 2050 retirement Target Fund
|
|
$ |
6.00 |
|
20078 |
|
Franklin LifeSmart 2055 retirement Target Fund
|
|
$ |
4.00 |
|
30761 |
|
Franklin LifeSmart 2060 Retirement Target Fund
|
|
$ |
— |
|
4389 |
|
Franklin LifeSmart Retirement Income Fund
|
|
$ |
19.00 |
|
4485 |
|
Franklin Moderate Allocation Fund
|
|
$ |
172.00 |
|
20111 |
|
Franklin Payout 2021 Fund
|
|
$ |
4.00 |
|
26694 |
|
Franklin Payout 2022 Fund
|
|
$ |
3.00 |
|
28661 |
|
Franklin U.S. Core Equity (IU) Fund
|
|
$ |
1,003.00 |
|
|
|
Franklin Fund Allocator Series (20)
|
|
|
|
|
4493 |
|
Franklin Emerging Market Debt Opportunities Fund
|
|
$ |
123.00 |
|
12517 |
|
Franklin International Growth Fund
|
|
$ |
2,951.00 |
|
4643 |
|
Franklin International Small Cap Fund
|
|
$ |
85.00 |
|
|
|
Franklin Global Trust (3)
|
|
|
|
|
4338 |
|
Franklin Adjustable U.S. Government Securities Fund
|
|
$ |
629.00 |
|
4337 |
|
Franklin Convertible Securities Fund
|
|
$ |
4,800.00 |
|
4339 |
|
Franklin Equity Income Fund
|
|
$ |
3,086.00 |
|
4489 |
|
Franklin Floating Rate Daily Access Fund
|
|
$ |
1,133.00 |
|
4991 |
|
Franklin Low Duration Total Return Fund
|
|
$ |
2,543.00 |
|
4586 |
|
Franklin Managed Income Fund
|
|
$ |
3,680.00 |
|
4460 |
|
Franklin Total Return Fund
|
|
$ |
4,176.00 |
|
|
|
Franklin Investors Securities Trust (7)
|
|
|
|
|
4175 |
|
Franklin California High Yield Municipal Fund
|
|
$ |
3,031.00 |
|
4220 |
|
Franklin Tennessee Municipal Bond Fund
|
|
$ |
181.00 |
|
|
|
Franklin Municipal Securities Trust (2)
|
|
|
|
|
4402 |
|
Franklin Biotechnology Discovery Fund
|
|
$ |
1,303.00 |
|
4462 |
|
Franklin Growth Opportunities Fund
|
|
$ |
5,612.00 |
|
4403 |
|
Franklin Natural Resources Fund
|
|
$ |
250.00 |
|
4465 |
|
Franklin Small Cap Growth Fund
|
|
$ |
3,983.00 |
|
4198 |
|
Franklin Small-Mid Cap
Growth Fund
|
|
$ |
5,415.00 |
|
4194 |
|
Franklin Strategic Income Fund
|
|
$ |
3,578.00 |
|
28468 |
|
Franklin Templeton SMACS: Series CH
|
|
$ |
3.00 |
|
28469 |
|
Franklin Templeton SMACS: Series E
|
|
$ |
5.00 |
|
28470 |
|
Franklin Templeton SMACS: Series H
|
|
$ |
2.00 |
|
28471 |
|
Franklin Templeton SMACS: Series I
|
|
$ |
3.00 |
|
|
|
Franklin Strategic Series (10)
|
|
|
|
|
4364 |
|
Franklin Alabama Tax-Free
Income Fund
|
|
$ |
232.00 |
|
4726 |
|
Franklin Arizona Tax-Free
Income Fund
|
|
$ |
970.00 |
|
4327 |
|
Franklin Colorado Tax-Free
Income Fund
|
|
$ |
703.00 |
|
4366 |
|
Franklin Connecticut Tax-Free Income Fund
|
|
$ |
186.00 |
|
4174 |
|
Franklin Federal Intermediate-Term Tax-Free Income Fund
|
|
$ |
3,451.00 |
|
4354 |
|
Franklin Federal Limited-Term Tax-Free Income Fund
|
|
$ |
1,252.00 |
|
4365 |
|
Franklin Florida Tax-Free
Income Fund
|
|
$ |
498.00 |
|
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
4328 |
|
Franklin Georgia Tax-Free
Income Fund
|
|
$ |
446.00 |
|
4330 |
|
Franklin High Yield Tax-Free Income Fund
|
|
$ |
6,386.00 |
|
4172 |
|
Franklin Kentucky Tax-Free
Income Fund
|
|
$ |
131.00 |
|
4368 |
|
Franklin Louisiana Tax-Free
Income Fund
|
|
$ |
364.00 |
|
4369 |
|
Franklin Maryland Tax-Free
Income Fund
|
|
$ |
392.00 |
|
4318 |
|
Franklin Massachusetts Tax-Free Income Fund
|
|
$ |
417.00 |
|
4319 |
|
Franklin Michigan Tax-Free
Income Fund
|
|
$ |
895.00 |
|
4320 |
|
Franklin Minnesota Tax-Free
Income Fund
|
|
$ |
1,055.00 |
|
4360 |
|
Franklin Missouri Tax-Free
Income Fund
|
|
$ |
946.00 |
|
28870 |
|
Franklin Municipal Green Bond Fund
|
|
$ |
8.00 |
|
4371 |
|
Franklin New Jersey Tax-Free Income Fund
|
|
$ |
779.00 |
|
4370 |
|
Franklin North Carolina Tax-Free Income Fund
|
|
$ |
812.00 |
|
4322 |
|
Franklin Ohio Tax-Free
Income Fund
|
|
$ |
1,568.00 |
|
4361 |
|
Franklin Oregon Tax-Free
Income Fund
|
|
$ |
1,219.00 |
|
4329 |
|
Franklin Pennsylvania Tax-Free Income Fund
|
|
$ |
991.00 |
|
4363 |
|
Franklin Virginia Tax-Free
Income Fund
|
|
$ |
592.00 |
|
|
|
Franklin Tax-Free Trust (23) |
|
|
|
|
11536 |
|
Franklin Allocation VIP Fund
|
|
$ |
664.00 |
|
4410 |
|
Franklin Flex Cap Growth VIP Fund
|
|
$ |
160.00 |
|
4824 |
|
Franklin Global Real Estate VIP Fund
|
|
$ |
135.00 |
|
4822 |
|
Franklin Growth and Income VIP Fund
|
|
$ |
66.00 |
|
4829 |
|
Franklin Income VIP Fund
|
|
$ |
3,295.00 |
|
4843 |
|
Franklin Large Cap Growth VIP Fund
|
|
$ |
127.00 |
|
4845 |
|
Franklin Mutual Global Discovery VIP Fund
|
|
$ |
481.00 |
|
4846 |
|
Franklin Mutual Shares VIP Fund
|
|
$ |
2,491.00 |
|
4836 |
|
Franklin Rising Dividends VIP Fund
|
|
$ |
1,551.00 |
|
4848 |
|
Franklin Small Cap Value VIP Fund
|
|
$ |
1,250.00 |
|
4842 |
|
Franklin Small-Mid Cap
Growth VIP Fund
|
|
$ |
564.00 |
|
4884 |
|
Franklin Strategic Income VIP Fund
|
|
$ |
371.00 |
|
4830 |
|
Franklin U.S. Government Securities VIP Fund
|
|
$ |
741.00 |
|
17071 |
|
Franklin VolSmart Allocation VIP Fund
|
|
$ |
129.00 |
|
381 |
|
Templeton Developing Markets VIP Fund
|
|
$ |
326.00 |
|
523 |
|
Templeton Foreign VIP Fund
|
|
$ |
1,204.00 |
|
4827 |
|
Templeton Global Bond VIP Fund
|
|
$ |
2,082.00 |
|
4840 |
|
Templeton Growth VIP Fund
|
|
$ |
463.00 |
|
|
|
Franklin Templeton Variable
Insurance Products Trust (18) |
|
|
|
|
|
|
INDIVIDUAL FRANKLIN FUNDS THAT ARE NOT PART OF A MULTI SERIES
TRUST
|
|
4312 |
|
Franklin California Tax-Free Income Fund
|
|
$ |
15,922.00 |
|
4152 |
|
Franklin California Tax-Free Trust - Franklin California
Intermediate-Term Tax-Free
Income Fund
|
|
$ |
1,724.00 |
|
4316 |
|
Franklin Federal Tax-Free
Income Fund
|
|
$ |
10,514.00 |
|
4301 |
|
Franklin Gold and Precious Metals Fund
|
|
$ |
1,183.00 |
|
4305 |
|
Franklin High Income Trust - Franklin High Income Fund
|
|
$ |
2,819.00 |
|
4472 |
|
Franklin Limited Duration Income Trust
|
|
$ |
386.00 |
|
4358 |
|
Franklin Managed Trust - Franklin Rising Dividends Fund
|
|
$ |
24,524.00 |
|
4315 |
|
Franklin New York Tax-Free
Income Fund
|
|
$ |
3,413.00 |
|
4153 |
|
Franklin New York Tax-Free
Trust - Franklin New York Intermediate-Term Tax-Free Income Fund
|
|
$ |
847.00 |
|
4192 |
|
Franklin Real Estate Securities Trust - Franklin Real Estate
Securities Fund
|
|
$ |
412.00 |
|
4157 |
|
Franklin Strategic Mortgage Portfolio
|
|
$ |
55.00 |
|
4311 |
|
Franklin U.S. Government Money Fund
|
|
$ |
3,279.00 |
|
4002 |
|
Franklin Universal Trust
|
|
$ |
262.00 |
|
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
4340 |
|
Institutional Fiduciary Trust - Money Market Portfolio
|
|
$ |
1,322.00 |
|
4184 |
|
The Money Market Portfolios - The U.S. Government Money Market
Portfolio
|
|
$ |
— |
|
29386 |
|
Franklin OnChain U.S. Government Money Fund
|
|
$ |
1.00 |
|
NEW JERSEY/ALTERNATIVE
FUNDS |
|
|
|
|
431 |
|
Franklin Mutual Beacon Fund
|
|
$ |
3,448.00 |
|
433 |
|
Franklin Mutual European Fund
|
|
$ |
763.00 |
|
666 |
|
Franklin Mutual Financial Services Fund
|
|
$ |
372.00 |
|
432 |
|
Franklin Mutual Global Discovery Fund
|
|
$ |
9,642.00 |
|
434 |
|
Franklin Mutual Quest Fund
|
|
$ |
3,069.00 |
|
435 |
|
Franklin Mutual Shares Fund
|
|
$ |
8,051.00 |
|
|
|
Franklin Mutual Series Funds
(6) |
|
|
|
|
4189 |
|
Franklin MicroCap Value Fund
|
|
$ |
212.00 |
|
4150 |
|
Franklin Mutual US Value Fund
|
|
$ |
819.00 |
|
4282 |
|
Franklin Small Cap Value Fund
|
|
$ |
4,456.00 |
|
|
|
Franklin Value Investors Trust
(3) |
|
|
|
|
18120 |
|
Franklin K2 Alternative Strategies Fund
|
|
$ |
1,235.00 |
|
20225 |
|
Franklin K2 Long Short Credit Fund
|
|
$ |
99.00 |
|
|
|
Franklin Alternative
Strategies Funds (2) |
|
|
|
|
FRANKLIN & FRANKLIN
TEMPLETON ETF |
|
|
|
|
29096 |
|
Franklin Disruptive Commerce ETF
|
|
$ |
37.00 |
|
30780 |
|
Franklin Exponential Data ETF
|
|
$ |
4.00 |
|
26346 |
|
Franklin FTSE Asia Ex Japan ETF
|
|
$ |
33.00 |
|
26365 |
|
Franklin FTSE Australia ETF
|
|
$ |
22.00 |
|
26363 |
|
Franklin FTSE Brazil ETF
|
|
$ |
228.00 |
|
26364 |
|
Franklin FTSE Canada ETF
|
|
$ |
26.00 |
|
26362 |
|
Franklin FTSE China ETF
|
|
$ |
131.00 |
|
26349 |
|
Franklin FTSE Europe ETF
|
|
$ |
179.00 |
|
26347 |
|
Franklin FTSE Europe Hedged ETF
|
|
$ |
15.00 |
|
26361 |
|
Franklin FTSE France ETF
|
|
$ |
7.00 |
|
26360 |
|
Franklin FTSE Germany ETF
|
|
$ |
12.00 |
|
26359 |
|
Franklin FTSE Hong Kong ETF
|
|
$ |
16.00 |
|
26348 |
|
Franklin FTSE India ETF
|
|
$ |
26.00 |
|
26358 |
|
Franklin FTSE Italy ETF
|
|
$ |
4.00 |
|
26357 |
|
Franklin FTSE Japan ETF
|
|
$ |
492.00 |
|
26355 |
|
Franklin FTSE Japan Hedged ETF
|
|
$ |
23.00 |
|
27393 |
|
Franklin FTSE Latin America ETF
|
|
$ |
5.00 |
|
26354 |
|
Franklin FTSE Mexico ETF
|
|
$ |
7.00 |
|
26356 |
|
Franklin FTSE Russia ETF
|
|
$ |
17.00 |
|
27392 |
|
Franklin FTSE Saudi Arabia ETF
|
|
$ |
3.00 |
|
27391 |
|
Franklin FTSE South Africa ETF
|
|
$ |
2.00 |
|
26353 |
|
Franklin FTSE South Korea ETF
|
|
$ |
71.00 |
|
26352 |
|
FTETFT-Franklin FTSE Switzerland ETF
|
|
$ |
49.00 |
|
26351 |
|
Franklin FTSE Taiwan ETF
|
|
$ |
41.00 |
|
26350 |
|
Franklin FTSE United Kingdom ETF
|
|
$ |
212.00 |
|
29097 |
|
Franklin Genomic Advancements ETF
|
|
$ |
17.00 |
|
29098 |
|
Franklin Intelligent Machines ETF
|
|
$ |
11.00 |
|
26729 |
|
Franklin Liberty High Yield Corporate ETF
|
|
$ |
329.00 |
|
26175 |
|
Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF
|
|
$ |
46.00 |
|
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
26727 |
|
Franklin Liberty International Aggregate Bond ETF
|
|
$ |
157.00 |
|
21558 |
|
Franklin Liberty Investment Grade Corporate ETF
|
|
$ |
983.00 |
|
26176 |
|
Franklin Liberty Municipal Bond ETF
|
|
$ |
119.00 |
|
26728 |
|
Franklin Liberty Senior Loan ETF
|
|
$ |
194.00 |
|
28388 |
|
Franklin Liberty Systematic Style Premia ETF
|
|
$ |
50.00 |
|
28565 |
|
Franklin Liberty U.S. Core Bond ETF
|
|
$ |
1,488.00 |
|
21559 |
|
Franklin Liberty U.S. Low Volatility ETF
|
|
$ |
127.00 |
|
29430 |
|
Franklin Liberty Ultra Short Bond ETF
|
|
$ |
2.00 |
|
29614 |
|
Franklin Liberty U.S. Treasury Bond ETF
|
|
$ |
398.00 |
|
21413 |
|
Franklin LibertyQ Emerging Markets ETF
|
|
$ |
23.00 |
|
21415 |
|
Franklin LibertyQ Global Dividend ETF
|
|
$ |
26.00 |
|
21414 |
|
Franklin LibertyQ Global Equity ETF
|
|
$ |
15.00 |
|
21412 |
|
Franklin LibertyQ International Equity Hedged ETF
|
|
$ |
15.00 |
|
25773 |
|
Franklin LibertyQ U.S. Equity ETF
|
|
$ |
1,251.00 |
|
25772 |
|
Franklin LibertyQ U.S. Mid Cap Equity ETF
|
|
$ |
40.00 |
|
25771 |
|
Franklin LibertyQ U.S. Small Cap Equity ETF
|
|
$ |
18.00 |
|
|
|
Franklin Templeton ETF Trust
(45) |
|
|
|
|
18000 |
|
Franklin ETF Trust - Franklin Liberty Short Duration U.S.
Government ETF
|
|
$ |
434.00 |
|
29659 |
|
Franklin Equity Portfolio Fund
|
|
$ |
— |
|
29660 |
|
Franklin Fixed Income Portfolio Fund
|
|
$ |
— |
|
|
|
Franklin EFT Trust
(3) |
|
|
|
|
BENEFIT STREET
PARTNERS |
|
|
|
|
28074 |
|
Business Development Corporation of America†
|
|
$ |
2,731.00 |
|
31180 |
|
Franklin BSP Capital Corporation†
|
|
$ |
583.00 |
|
29694 |
|
Broadstone Real Estate Access Fund
|
|
$ |
29.00 |
|
Legg Mason Partners Equity
Funds |
|
|
|
|
90052 |
|
QS Global Equity Fund*
|
|
$ |
180.00 |
|
90049 |
|
ClearBridge Tactical Dividend Income Fund
|
|
$ |
311.00 |
|
90017 |
|
ClearBridge Dividend Strategy Fund
|
|
$ |
6,627.00 |
|
90003 |
|
ClearBridge All Cap Value Fund
|
|
$ |
1,510.00 |
|
90113 |
|
QS Defensive Growth Fund*
|
|
$ |
— |
|
90110 |
|
QS Conservative Growth Fund*
|
|
$ |
— |
|
90111 |
|
QS Growth Fund*
|
|
$ |
2.00 |
|
90112 |
|
QS Moderate Growth Fund*
|
|
$ |
2.00 |
|
90132 |
|
ClearBridge Large Cap Growth Fund
|
|
$ |
17,773.00 |
|
90012 |
|
ClearBridge Aggressive Growth Fund
|
|
$ |
6,766.00 |
|
90153 |
|
ClearBridge Mid Cap Fund
|
|
$ |
2,146.00 |
|
90755 |
|
ClearBridge Mid Cap Growth Fund
|
|
$ |
130.00 |
|
90138 |
|
QS S&P 500 Index Fund*
|
|
$ |
321.00 |
|
90035 |
|
ClearBridge Large Cap Value Fund
|
|
$ |
2,316.00 |
|
90149 |
|
ClearBridge Small Cap Growth Fund
|
|
$ |
5,899.00 |
|
90000 |
|
ClearBridge Appreciation Fund
|
|
$ |
7,292.00 |
|
90022 |
|
ClearBridge International Value Fund
|
|
$ |
225.00 |
|
90757 |
|
ClearBridge International Small Cap Fund
|
|
$ |
48.00 |
|
90646 |
|
QS U.S. Large Cap Equity Fund*
|
|
$ |
725.00 |
|
90164 |
|
ClearBridge Small Cap Value Fund
|
|
$ |
122.00 |
|
90968 |
|
ClearBridge Select Fund
|
|
$ |
2,570.00 |
|
91003 |
|
QS Global Dividend Fund*
|
|
$ |
363.00 |
|
91306 |
|
ClearBridge Sustainability Leaders Fund
|
|
$ |
55.00 |
|
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
|
|
Legg Mason Partners Equity
Trust* (23) |
|
|
|
|
90265 |
|
ClearBridge Variable Dividend Strategy Portfolio
|
|
$ |
484.00 |
|
90123 |
|
QS Variable Conservative Growth*
|
|
$ |
— |
|
90171 |
|
ClearBridge Variable Aggressive Growth Portfolio
|
|
$ |
287.00 |
|
90056 |
|
ClearBridge Variable Appreciation Portfolio
|
|
$ |
932.00 |
|
92174 |
|
LM/QS Aggressive Model Portfolio*
|
|
$ |
142.00 |
|
92173 |
|
LM/QS Moderately Aggressive Model Portfolio*
|
|
$ |
537.00 |
|
92172 |
|
LM/QS Moderate Model Portfolio*
|
|
$ |
506.00 |
|
92171 |
|
LM/QS Moderately Conservative Model Portfolio*
|
|
$ |
209.00 |
|
92170 |
|
LM/QS Conservative Model Portfolio*
|
|
$ |
109.00 |
|
90124 |
|
QS Variable Growth*
|
|
$ |
— |
|
90125 |
|
QS Variable Moderate Growth*
|
|
$ |
— |
|
90145 |
|
ClearBridge Variable Large Cap Growth Portfolio
|
|
$ |
413.00 |
|
90172 |
|
ClearBridge Variable Mid Cap Portfolio
|
|
$ |
252.00 |
|
90140 |
|
ClearBridge Variable Large Cap Value Portfolio
|
|
$ |
286.00 |
|
90176 |
|
ClearBridge Variable Small Cap Growth Portfolio
|
|
$ |
510.00 |
|
94140 |
|
QS Legg Mason Dynamic Multi-Strategy VIT Portfolio* (WAM
Managed)
|
|
$ |
— |
|
90858 |
|
QS Legg Mason Dynamic Multi-Strategy VIT Portfolio* (QS
Managed)
|
|
$ |
62.00 |
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Variable
Equity Trust (16) |
|
|
|
|
|
|
|
|
|
|
|
91415 |
|
Legg Mason Low Volatility High Dividend ETF (LVHD)
|
|
$ |
683.00 |
|
91481 |
|
Legg Mason International Low Volatility High Dividend ETF
(LVHI)
|
|
$ |
65.00 |
|
91557 |
|
Legg Mason Global Infrastructure ETF (INFR)
|
|
$ |
11.00 |
|
91662 |
|
Legg Mason Small-Cap
Quality Value ETF
|
|
$ |
16.00 |
|
91616 |
|
ClearBridge All Cap Growth ETF
|
|
$ |
207.00 |
|
91629 |
|
ClearBridge Dividend Strategy ESG ETF
|
|
$ |
18.00 |
|
91630 |
|
ClearBridge Large Cap Growth ESG ETF
|
|
$ |
146.00 |
|
91903 |
|
Western Asset Total Return ETF
|
|
$ |
116.00 |
|
91970 |
|
Western Asset Short Duration Income ETF
|
|
$ |
12.00 |
|
|
|
|
|
|
|
|
|
|
Legg Mason ETF Investment
Trust (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
INDIVIDUAL LMP FUNDS THAT ARE NOT PART OF A MULTI SERIES
TRUST
|
|
|
|
|
92192 |
|
Active Shares ETF Trust - ClearBridge Focus Value ETF
|
|
$ |
4.00 |
|
Legg Mason Partners Closed-End Funds |
|
|
|
|
90324 |
|
LMP Capital and Income Fund Inc.
|
|
$ |
307.00 |
|
90813 |
|
ClearBridge Energy Midstream Opportunity Fund Inc.
|
|
$ |
493.00 |
|
90884 |
|
BrandywineGLOBAL - Global Income Opportunities Fund Inc.
|
|
$ |
323.00 |
|
90061 |
|
Western Asset Intermediate Muni Fund Inc.
|
|
$ |
181.00 |
|
90064 |
|
Western Asset Managed Municipals Fund Inc.
|
|
$ |
793.00 |
|
90031 |
|
Western Asset Municipal High Income Fund Inc.
|
|
$ |
162.00 |
|
90304 |
|
Western Asset Emerging Markets Debt Fund Inc.
|
|
$ |
1,135.00 |
|
90073 |
|
Western Asset High Income Opportunity Fund Inc.
|
|
$ |
480.00 |
|
90716 |
|
Western Asset Global Corporate Defined Opportunity Fund Inc.
|
|
$ |
357.00 |
|
90068 |
|
Western Asset Municipal Partners Fund Inc.
|
|
$ |
232.00 |
|
90148 |
|
Western Asset High Income Fund II Inc.
|
|
$ |
548.00 |
|
90705 |
|
Western Asset Investment Grade Defined Opportunity Trust Inc.
|
|
$ |
217.00 |
|
90692 |
|
Western Asset Municipal Defined Opportunity Trust Inc.
|
|
$ |
— |
|
90293 |
|
Western Asset Global High Income Fund Inc.
|
|
$ |
320.00 |
|
90724 |
|
Western Asset Mortgage Defined Opportunity Fund Inc.
|
|
$ |
214.00 |
|
90766 |
|
Western Asset High Yield Defined Opportunity Fund Inc.
|
|
$ |
333.00 |
|
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
90745 |
|
ClearBridge MLP and Midstream Fund, Inc.
|
|
$ |
595.00 |
|
90924 |
|
ClearBridge MLP and Midstream Total Return Fund Inc.
|
|
$ |
270.00 |
|
91199 |
|
Western Asset Middle Market Income Fund Inc.
|
|
$ |
129.00 |
|
92083 |
|
Clarion Partners Real Estate Income Fund Inc. (Clarion
Managed)
|
|
$ |
73.00 |
|
94095 |
|
Clarion Partners Real Estate Income Fund Inc. (Western
Managed)
|
|
$ |
16.00 |
|
Legg Mason Funds |
|
|
|
|
90719 |
|
BrandywineGLOBAL - International Opportunities Bond Fund
|
|
$ |
56.00 |
|
90725 |
|
QS Strategic Real Return Fund*
|
|
$ |
105.00 |
|
90756 |
|
BrandywineGLOBAL - Diversified US Large Cap Value Fund
|
|
$ |
534.00 |
|
90800 |
|
BrandywineGLOBAL - Global Unconstrained Bond Fund
|
|
$ |
697.00 |
|
90096 |
|
ClearBridge International Growth Fund
|
|
$ |
5,974.00 |
|
90020 |
|
ClearBridge Small Cap Fund
|
|
$ |
1,260.00 |
|
90007 |
|
ClearBridge Value Trust
|
|
$ |
2,026.00 |
|
90190 |
|
QS U.S. Small Capitalization Equity Fund*
|
|
$ |
187.00 |
|
90503 |
|
BrandywineGLOBAL - Global Opportunities Bond Fund
|
|
$ |
2,308.00 |
|
90067 |
|
QS International Equity Fund*
|
|
$ |
206.00 |
|
90720 |
|
BrandywineGLOBAL - Global High Yield Fund
|
|
$ |
30.00 |
|
91103 |
|
BrandywineGLOBAL - Alternative Credit Fund
|
|
$ |
212.00 |
|
91223 |
|
BrandywineGLOBAL - Dynamic US Large Cap Value Fund
|
|
$ |
217.00 |
|
90093 |
|
Martin Currie Emerging Markets Fund
|
|
$ |
489.00 |
|
91403 |
|
QS Global Market Neutral Fund*
|
|
$ |
64.00 |
|
91402 |
|
Martin Currie International Unconstrained Equity Fund
|
|
$ |
21.00 |
|
91755 |
|
Martin Currie SMASh Series EM Fund
|
|
$ |
901.00 |
|
91462 |
|
BrandywineGLOBAL - Flexible Bond Fund
|
|
$ |
112.00 |
|
91444 |
|
ClearBridge Global Infrastructure Income Fund
|
|
$ |
52.00 |
|
91996 |
|
BrandywineGLOBAL - Global Opportunities Bond Fund (USD hedged)
|
|
$ |
409.00 |
|
|
|
Legg Mason Global Asset
Management Trust (20) |
|
|
|
|
Western Asset Funds |
|
|
|
|
90040 |
|
Western Asset Income Fund
|
|
$ |
1,236.00 |
|
90013 |
|
Western Asset Mortgage Total Return Fund
|
|
$ |
662.00 |
|
90078 |
|
Western Asset Pennsylvania Municipals Fund
|
|
$ |
151.00 |
|
90083 |
|
Western Asset Oregon Municipals Fund
|
|
$ |
62.00 |
|
90060 |
|
Western Asset Intermediate Maturity New York Municipals Fund
|
|
$ |
149.00 |
|
90028 |
|
Western Asset New York Municipals Fund
|
|
$ |
501.00 |
|
90014 |
|
Western Asset California Municipals Fund
|
|
$ |
374.00 |
|
90002 |
|
Western Asset Managed Municipals Fund
|
|
$ |
4,391.00 |
|
90059 |
|
Western Asset Intermediate Maturity California Municipals Fund
|
|
$ |
154.00 |
|
90018 |
|
Western Asset Municipal High Income Fund
|
|
$ |
446.00 |
|
90029 |
|
Western Asset Massachusetts Municipals Fund
|
|
$ |
91.00 |
|
90030 |
|
Western Asset New Jersey Municipals Fund
|
|
$ |
149.00 |
|
90032 |
|
Western Asset Intermediate-Term Municipals Fund
|
|
$ |
2,606.00 |
|
90025 |
|
Western Asset Short Duration High Income Fund
|
|
$ |
348.00 |
|
90005 |
|
Western Asset Corporate Bond Fund
|
|
$ |
1,132.00 |
|
90058 |
|
Western Asset Short-Term Bond Fund
|
|
$ |
993.00 |
|
90063 |
|
Western Asset Ultra-Short Income Fund
|
|
$ |
561.00 |
|
90118 |
|
Western Asset Emerging Markets Debt Fund
|
|
$ |
30.00 |
|
90094 |
|
Western Asset Global High Yield Bond Fund
|
|
$ |
177.00 |
|
90279 |
|
Western Asset Short Duration Municipal Income Fund
|
|
$ |
792.00 |
|
|
|
|
|
|
|
|
OneTIS
#
|
|
Fund Name
|
|
Allocated Bond
Premium |
|
|
|
Legg Mason Partners Income
Trust (20) |
|
|
|
|
90065 |
|
Western Asset Institutional Liquid Reserves
|
|
$ |
3,887.00 |
|
90066 |
|
Western Asset Institutional U.S. Treasury Reserves
|
|
$ |
11,237.00 |
|
90127 |
|
Western Asset Select Tax Free Reserves
|
|
$ |
200.00 |
|
90520 |
|
Western Asset SMASh Series M Fund
|
|
$ |
— |
|
90521 |
|
Western Asset SMASh Series C Fund
|
|
$ |
— |
|
90522 |
|
Western Asset SMASh Series Core Plus Completion Fund
|
|
$ |
— |
|
|
|
Western Asset SMASh Series Core Completion Fund
|
|
|
|
|
|
|
Western Asset SMASh Series TF Fund
|
|
|
|
|
90098 |
|
Western Asset Institutional Government Reserves
|
|
$ |
11,393.00 |
|
91067 |
|
Western Asset Institutional U.S. Treasury Obligations Money Market
Fund
|
|
$ |
384.00 |
|
92108 |
|
Western Asset Premier Institutional Liquid Reserves
|
|
$ |
459.00 |
|
92110 |
|
Western Asset Premier Institutional Government Reserves
|
|
$ |
— |
|
92111 |
|
Western Asset Premier Institutional US Treasury Reserves
|
|
$ |
69.00 |
|
|
|
Legg Mason Partners
Institutional Trust (13) |
|
|
|
|
90016 |
|
Western Asset Tax Free Reserves
|
|
$ |
73.00 |
|
90019 |
|
Western Asset New York Tax Free Money Market Fund
|
|
$ |
112.00 |
|
90054 |
|
Western Asset U.S. Treasury Reserves
|
|
$ |
173.00 |
|
90051 |
|
Western Asset Government Reserves
|
|
$ |
1,537.00 |
|
|
|
Legg Mason Partners Money
Market Trust (4) |
|
|
|
|
90044 |
|
Western Asset Premium Liquid Reserves
|
|
$ |
12.00 |
|
90053 |
|
Western Asset Premium U.S. Treasury Reserves
|
|
$ |
100.00 |
|
|
|
Legg Mason Partners Premium
Money Market Trust (2) |
|
|
|
|
90086 |
|
Western Asset Core Plus VIT Portfolio
|
|
$ |
215.00 |
|
90146 |
|
Western Asset Variable Global High Yield Bond Portfolio
|
|
$ |
153.00 |
|
|
|
Legg Mason Partners Variable
Income Trust (2) |
|
|
|
|
90150 |
|
Western Asset Core Plus Bond Fund
|
|
$ |
38,485.00 |
|
90047 |
|
Western Asset Core Bond Fund
|
|
$ |
19,032.00 |
|
90221 |
|
Western Asset High Yield Fund
|
|
$ |
208.00 |
|
90203 |
|
Western Asset Inflation Indexed Plus Bond Fund
|
|
$ |
479.00 |
|
90089 |
|
Western Asset Intermediate Bond Fund
|
|
$ |
977.00 |
|
90488 |
|
Western Asset Total Return Unconstrained Fund
|
|
$ |
973.00 |
|
91066 |
|
Western Asset Macro Opportunities Fund
|
|
$ |
1,582.00 |
|
|
|
Western Asset Funds, Inc.
(7) |
|
|
|
|
|
|
INDIVIDUAL WESTERN ASSET FUNDS THAT ARE NOT PART OF A MULTI
SERIES TRUST
|
|
|
|
|
90296 |
|
Western Asset Inflation-Linked Income Fund
|
|
$ |
462.00 |
|
90327 |
|
Western Asset Inflation-Linked Opportunities & Income
Fund
|
|
$ |
1,177.00 |
|
90001 |
|
Western Asset Investment Grade Income Fund “PAI”
|
|
$ |
139.00 |
|
90240 |
|
Western Asset Premier Bond Fund
|
|
$ |
225.00 |
|
96370 |
|
Western Asset Diversified Income Fund
|
|
$ |
918.00 |
|
|
|
|
|
|
|
|
GRAND TOTAL - Franklin Templeton
and Legg Mason |
|
$ |
553,115.00 |
|
|
|
|
|
|
* |
Name changed effective August 7, 2021.
|

EXPERTS FOCUSED ON YOUR PROTECTION. WE
DELIVER.
|
|
|
 |
|
PRODUCER John Macko
Aon Risk Services Northeast, Inc.
1 Liberty Plaza, 165 Broadway, Suite 3201
New York, NY 10006
(212) 441-1283 |
|
|
|
|
|
Underwritten
By |
|
|
BERKLEY REGIONAL
INSURANCE COMPANY |
|
|
|
|
|
Administrative Office: |
|
Issuing Office: |
|
|
475 Steamboat Road |
|
29 South Main Street, Suite 308 |
|
|
Greenwich, CT 06830 |
|
West Hartford, CT 06107 |
|
|
INVESTMENT COMPANY EXCESS FOLLOW FORM
CERTIFICATE
|
|
|
|
|
|
|
POLICY NUMBER |
|
BFIV-45004340-20 |
|
PRIOR POLICY NUMBER |
|
N/A |
NAMED INSURED |
|
Franklin Alternative Strategies Funds |
|
|
|
|
|
|
|
|
MAILING ADDRESS |
|
One Franklin Parkway, 950/4 |
|
|
|
|
|
|
San Mateo, CA 94403 |
|
|
|
|
|
|
|
|
POLICY PERIOD |
|
6/30/2021 to 6/30/2022 |
|
|
|
|
|
|
(12:01 A.M. at your Mailing Address shown
above) |
|
|
|
|
TERMS AND CONDITIONS:
In consideration of the premium charged and in reliance upon the
statements and information furnished to the COMPANY by the Insured
and subject to the terms and conditions of the UNDERLYING COVERAGE
scheduled below, the COMPANY agrees to pay the Insured, as excess
and not contributing insurance, for loss which:
|
a) |
would have been paid by the underlying Carrier(s) in
the UNDERLYING COVERAGE scheduled below but for the fact that such
loss exceeds the Limit of Liability of the underlying Carrier(s),
and
|
|
b) |
for which the underlying Carrier(s) has made monetary
payment and the Insured has collected the full monetary amount of
the underlying Carrier’s expressed Limit of Liability.
|
This policy does not provide coverage in excess of any sub-limited coverage in the underlying
policy which is below the underlying Carrier’s expressed Limit
of Liability in the UNDERLYING COVERAGE scheduled below.
|
|
|
|
|
LEAD CARRIER FOR LAYER: |
|
Berkley Regional Insurance Company |
|
|
LIMIT OF LIABILITY: |
|
$30,000,000 excess of $100,000,000
plus deductible |
AGGREGATE LIMIT: |
|
Not Applicable |
|
|
|
|
|
|
|
UNDERLYING COVERAGE: |
|
|
|
|
|
|
|
Carrier: |
|
ICI Mutual Insurance Company |
|
|
Limit of Liability: |
|
$100,000,000 |
|
|
Deductible: |
|
$250,000 |
|
|
Policy Number: |
|
87170121B |
|
|
Policy Period: |
|
06/30/2021 to 06/30/2022 |
|
|
|
Forms and Endorsements Forming Part of this Policy
When Issued: |
|
|
|
Form Number and
Edition Date
|
|
Description of Form or Endorsement: |
BCR WDC 01 01 15 |
|
Berkley Crime We Deliver Cover Page |
|
|
|
BCR CGI XS 01 15 |
|
Page 1 of 2 |
|
|
|
BCR COV 01 08 18 |
|
Berkley Crime Cover Letter |
BCR CGI XS 01 15 |
|
Excess Follow Form Certificate |
BAP 90 00 11 13 |
|
Forms Index |
BAP 91 01 11 13 |
|
Manuscript Endorsement |
BCR WDB 01 01 15 |
|
Berkley Crime We Deliver Back Page |
Cancellation of Prior Insurance Issued by Us:
By acceptance of this Policy you give us notice canceling prior
policy Numbers: N/A
the cancellation to be effective at the time this Policy becomes
effective.
IN WITNESS WHEREOF, Berkley Regional Insurance Company designated
herein has executed and attested these presents.

|
|
|
BCR CGI XS 01 15 |
|
Page 2 of 2 |
|
|
|
POLICY NUMBER: BFIV-45004340-20 |
|
BAP 90 00 11 13 |
NAMED INSURED: Franklin Alternative Strategies
Funds |
|
ENDORSEMENT #: 1 |
EFFECTIVE DATE: 06/30/2021 |
|
EXPIRATION DATE: 06/30/2022 |
DATE OF ISSUANCE: 10/28/2021 |
|
|
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ
IT CAREFULLY.
FORMS INDEX
|
|
|
Forms and Endorsements Forming Part of
this Policy When Issued: |
|
|
Form Number and
Edition Date
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Description of Form or Endorsement: |
BCR WDC 01 01 15 |
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Berkley Crime We Deliver Cover Page |
BCR COV 01 08 18 |
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Berkley Crime Cover Letter |
BCR CGI XS 01 15 |
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Excess Follow Form Certificate |
BAP 90 00 11 13 |
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Forms Index |
BAP 91 01 11 13 |
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Manuscript Endorsement |
BCR WDB 01 01 15 |
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Berkley Crime We Deliver Back Page |
All other terms, conditions, limitations and exclusions remain
unchanged.
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BAP 90 00 11 13 |
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Page 1 of
1 ☐ |
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POLICY NUMBER: BFIV-45004340-20 |
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FINANCIAL INSTITUTIONS |
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FI 10 06 09 12 |
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ
IT CAREFULLY.
COINDEMNITY
This endorsement modifies insurance provided under the
following:
FINANCIAL INSTITUTION COMPUTER CRIME POLICY
FINANCIAL INSTITUTION CRIME POLICY FOR BANKS AND SAVINGS
INSTITUTIONS
FINANCIAL INSTITUTION CRIME POLICY FOR CREDIT UNIONS
FINANCIAL INSTITUTION CRIME POLICY FOR FINANCE COMPANIES
FINANCIAL INSTITUTION CRIME POLICY FOR INSURANCE COMPANIES
FINANCIAL INSTITUTION CRIME POLICY FOR INVESTMENT COMPANIES
FINANCIAL INSTITUTION CRIME POLICY FOR MORTGAGE BANKERS
FINANCIAL INSTITUTION CRIME POLICY FOR SECURITIES BROKERS AND
DEALERS
SCHEDULE
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Percentage
Underwritten
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Name Of Underwriting Company
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$20,000,000 part of
$30,000,000
66.666667%
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by: Berkley Regional Insurance Company
(Controlling Company)
Signature:
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$10,000,000 part of
$30,000,000
33.333333%
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by: Hartford Casualty Insurance Company
Signature:
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Information required to complete this Schedule, if not shown above,
will be shown in the Declarations.
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A. |
Company means all the companies shown in the
Schedule.
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B. |
Each company will not pay more for any “single loss”
than the percentage underwritten by it as shown in the
Schedule.
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C. |
Unless any company requests otherwise:
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1. |
The giving of notice of loss and the filing of proof
of loss with the Controlling Company will be considered in
compliance with the terms of this policy for the giving of notice
of loss and the filing of proof of loss if given and filed in
accordance with the terms of this policy.
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2. |
Notice of cancellation by you, in accordance with the
terms of this policy, to the Controlling Company will cancel the
liability of all companies shown in the Schedule.
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The Controlling Company may, in accordance with the
terms of this policy, give notice that cancels the entire policy
or, as respects the Fidelity Insuring Agreement, the coverage on
any “employee”.
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This notice will cancel the liability of all companies shown in the
Schedule for either the entire policy or the “employee”.
A. |
Any company, other than the Controlling Company, may
give notice in accordance with the terms of this policy that
cancels:
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1. |
Its liability for the entire policy; or
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FI 10 06 09 12 |
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© Insurance Services
Office, Inc., 2011 |
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Page 1 of 2 |
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2. |
As respects the Fidelity Insuring Agreement, the
coverage on any “employee”.
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Any such cancellation will not terminate or otherwise affect the
liability of the other companies.
F. |
You may cancel the amount underwritten by any company,
other than the Controlling Company, by:
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1. |
Giving notice of the cancellation to the company;
and
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2. |
Sending a copy of that notice to the Controlling
Company.
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G. |
If the coverage under this policy is cancelled or
terminated:
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1. |
For one or more companies, then that company or
companies will not pay for any loss under this policy.
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2. |
No company will pay for a greater proportion of any
return premium due than the amount underwritten by that company
bears to the Policy Aggregate Limit Of Insurance shown in the
Declarations.
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3. |
As to any company, that company alone will pay any
return premium due on account of the cancellation or termination of
coverage.
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H. |
All terms and conditions in the policy are deemed to
be amended to conform to the provisions of this endorsement.
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I. |
If this endorsement is attached to a nonaggregate
limit policy, the references in this endorsement to “single loss”
and Policy Aggregate Limit of Insurance shall be deemed to mean
loss and Limit of Insurance, respectively.
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Page 2 of 2 |
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© Insurance Services
Office, Inc., 2011 |
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FI 10 06 09 12 |

Berkley Crime
29 South Main Street, 3rd Floor | West Hartford,
CT 06107 | 844.44.CRIME
Berkleycrime.com
Fidelity Bond Resolutions
Templeton China World Fund
Templeton Developing Markets Trust
Templeton Dragon Fund, Inc.
Templeton Emerging Markets Fund
Templeton Emerging Markets Income Fund
Templeton Funds
Templeton Global Investment Trust
Templeton Global Smaller Companies Fund
Templeton Growth Fund, Inc.
Templeton Income Trust
Templeton Institutional Funds
RESOLVED, that after consideration of the value of the aggregate
assets of the 1940 Act Funds to which any covered person (as
defined in Rule 17g-1) may
have access, the type and terms of the arrangements made for the
custody and safekeeping of such assets and the nature of the
securities in the 1940 Act Funds’ portfolios, among other factors,
the proposed Bond coverage for the Funds and the other 1940 Act
Funds, be continued with ICI Mutual and a syndicate of commercial
insurers, subject to the amount of the Bond increasing to
$130 million subject to ongoing review; and it is
FURTHER RESOLVED, that in accordance with the provisions of
subparagraph (e) of Rule 17g-1 under the 1940 Act, and after
consideration of the number of other 1940 Act Funds, the nature of
the business activities of such 1940 Act Funds, the amount of the
Bond, the amount of the premium for such Bond, the ratable
allocation of the premium among all 1940 Act Funds and the extent
to which the share of the premium allocated to each Fund is less
than the premium such Fund would have had to pay if it had provided
and maintained a single insured bond, among other factors, the
portion of the premium for said Bond to be paid by each Fund be,
and it hereby is, approved as to amount and shall be the portion of
the allocable premiums paid by all 1940 Act Funds equal to the
percentage that the Fund’s assets represent in respect to the
assets of all of such 1940 Act Funds in the aggregate as of
June 30, 2021; and it is
FURTHER RESOLVED, that the Amended and Restated Allocation
Agreement between the Funds and the other 1940 Act Funds under the
Bond relating to the sharing of premiums and division of insurance
proceeds in the event of a joint fidelity loss, as required by
subparagraph (f) of Rule 17g-1, and reflecting the provisions of
said Bond, is hereby approved and continued; and it is
FURTHER RESOLVED, that the officers of the Funds be, and each of
them hereby is, authorized, empowered and directed to make such
filings with the SEC as may be required from time to time pursuant
to Rules under the 1940 Act.
Franklin Alternative Strategies Funds
Franklin California Tax-Free Income Fund
Franklin California Tax-Free Trust
Franklin Custodian Funds
Franklin Federal Tax-Free Income Fund
Franklin Floating Rate Master Trust
Franklin Fund Allocator Series
Franklin Global Trust
Franklin Gold and Precious Metals Fund
Franklin High Income Trust
Franklin Investors Securities Trust
Franklin Limited Duration Income Trust
Franklin Managed Trust
Franklin Municipal Securities Trust
Franklin Mutual Series Funds
Franklin New York Tax-Free Income Fund
Franklin New York Tax-Free Trust
Franklin Real Estate Securities Trust
Franklin Strategic Mortgage Portfolio
Franklin Strategic Series
Franklin Tax-Free Trust
Franklin Templeton Variable Insurance Products
Trust
Franklin U.S. Government Money Fund
Franklin Universal Trust
Franklin Value Investors Trust
Institutional Fiduciary Trust
The Money Market Portfolios
Franklin Templeton ETF Trust
Franklin ETF Trust
Franklin Templeton Trust
Legg Mason ETF Investment Trust
ActiveShares® ETF Trust
Templeton Global Income Fund
RESOLVED, that after consideration of the value of the aggregate
assets of the 1940 Act Funds to which any covered person (as
defined in Rule 17g-1) may
have access, the type and terms of the arrangements made for the
custody and safekeeping of such assets and the nature of the
securities in the 1940 Act Funds’ portfolios, among other factors,
the proposed Bond coverage for the Trusts and the other 1940 Act
Funds, be continued with ICI Mutual and a syndicate of commercial
insurers, subject to the amount of the Bond increasing to
$130 million subject to ongoing review; and it is
FURTHER RESOLVED, that in accordance with the provisions of
subparagraph (e) of Rule 17g-1 under the 1940 Act, and after
consideration of the number of other 1940 Act Funds, the nature of
the business activities of such 1940 Act Funds, the amount of the
Bond, the amount of the premium for such Bond, the ratable
allocation of the premium among all 1940 Act Funds and the extent
to which the share of the premium allocated to each Trust is less
than the premium such Trust would have had to pay if it had
provided and maintained a single insured bond, among other factors,
the portion of the premium for
said Bond to be paid by each Trust be, and it hereby is, approved
as to amount and shall be the portion of the allocable premiums
paid by all 1940 Act Funds equal to the percentage that the Trust’s
assets represent in respect to the assets of all of such 1940 Act
Funds in the aggregate as of June 30, 2021; and it is
FURTHER RESOLVED, that the Amended and Restated Allocation
Agreement between the Trusts and the other 1940 Act Funds under the
Bond relating to the sharing of premiums and division of insurance
proceeds in the event of a joint fidelity loss, as required by
subparagraph (f) of Rule 17g-1, and reflecting the provisions of
said Bond, is hereby approved and continued; and it is
FURTHER RESOLVED, that the officers of the Trusts be, and each of
them hereby is, authorized, empowered and directed to make such
filings with the SEC as may be required from time to time pursuant
to Rules under the 1940 Act.
Broadstone Real Estate Access Fund
RESOLVED, that the form and amount of the joint fidelity
bond (“Joint Bond”) covering the Fund and certain other persons
(“Insured Persons”), as discussed at this meeting, be, and the same
hereby is, approved after consideration of all factors deemed
relevant by the Board of the Fund, including, but not limited to,
the value of the aggregate assets of the Fund to which any covered
person may have access, the type and terms of the arrangements made
for the custody and safekeeping of the Fund’s assets, and the
nature of the securities held by the Fund; and
RESOLVED, that the Secretary of the Fund be, and is hereby
designated as the officer responsible for making the necessary
filings and giving the notices with respect to such fidelity bond
required by paragraph (g) of Rule 17g-1 under the Investment Company Act
of 1940, as amended; and
RESOLVED, that an Amended and Restated Allocation Agreement
by and between the Fund and the Insured Persons (the “Joint Insured
Agreement”) in substantially the form presented at the meeting, be
and it hereby is, approved; and that any officer of the Fund be,
and they hereby severally are, authorized, in the name and on
behalf of the Fund, to execute and deliver such Joint Insured
Agreement, in substantially such form, with such changes as the
officer or officers so acting may deem necessary or desirable,
together with such other documents or instruments as he or she may
deem necessary or advisable to effect the purposes of this
resolution, the execution and delivery thereof to be conclusive
evidence that the same has been approved by the Trustees; and
RESOLVED, that the proper officers of the Fund be, and each
of them hereby is, authorized to make any and all payments, and to
do any and all other acts, in the name of the Fund and on its
behalf, as they, or any of them, may determine to be necessary or
desirable and proper with the advice of counsel in connection with
or in furtherance of the foregoing resolutions.
Legg Mason Partners Investment Trust
Legg Mason Partners Variable Equity Trust
Legg Mason Global Asset Management Trust
RESOLVED:
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That the purchase of the fidelity bond coverage with ICI Mutual
for the period July 1, 2021 through June 30, 2022, which
coverage is maintained jointly on behalf of each 1940 Act Fund and
the other parties named as insureds therein, including certain
investment companies subsequently added to the Legg Mason Partners
Funds complex, Legg Mason Funds complex, Western Asset Funds
complex and Franklin Templeton Funds complex, and which provides
coverage in the aggregate amount of $130 million, is approved,
with respect to the Funds for which the Board is responsible; and
further |
RESOLVED:
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That it is the finding of the Board, with respect to the Funds
for which the Board is responsible, that the fidelity bond coverage
with ICI Mutual for the July 1, 2021 through June 30,
2022 policy period in the aggregate amount of $130 million
covering, among others, officers and employees of each 1940 Act
Fund in accordance with the requirements of Rule 17g-1 under the 1940 Act (“Joint
Fidelity Bond”), is reasonable in form and amount, after having
given due consideration to, among other things, the value of the
aggregate assets of each 1940 Act Fund to which any person covered
under the fidelity bond may have access, the type and terms of the
arrangements made for the custody and safekeeping of assets of each
1940 Act Fund and the nature of the securities in each 1940 Act
Fund and its series (as applicable); and further |
RESOLVED:
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That the payment by each 1940 Act Fund of its portion of the
total premium of $550,000 to $600,000 for the period July 1,
2021 through June 30, 2022 for the aforementioned joint
insured fidelity bond as set forth in the Board Material and an
Agreement Concerning Allocation of Fidelity Bond Premiums and
Recoveries (“Agreement”) as described at the meeting is hereby
determined by the Board, with respect to the Funds for which the
Board is responsible, to be fair and reasonable and therefore
approved, taking into consideration, among other things, the number
of parties named as insureds, the nature of the business activities
of such parties, the amount of the joint insured fidelity bond; the
amount of the premium for such bond, the ratable allocation of the
premium among all parties named as insureds; and the extent to
which the share of the premium allocated to such Fund is less than
the premium that each such Fund would have had to pay if it had
provided and maintained a single insured bond; and further |
RESOLVED:
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That the Agreement entered into among the 1940 Act Funds and
the other named insureds under the foregoing fidelity bond coverage
is hereby approved by the Board, with respect to the Funds for
which the Board is responsible, and that each officer of the Trust,
acting singly or jointly, is authorized to execute and deliver such
Agreement, with such changes as the officers may by their execution
and delivery approve, the execution and delivery of said Agreement
to be conclusive evidence of the Board’s approval; and further |
RESOLVED:
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That it is the finding of the Board that the aforementioned
joint insured fidelity bond is intended to cover each 1940 Act Fund
listed under the Agreement and any new Legg Mason-affiliated 1940
Act Fund registered after the inception of such bond will
automatically be included as an insured under the current Joint
Fidelity Bond until the next renewal of such Joint Fidelity Bond,
at which point the 1940 Act Funds will be added to the list of 1940
Act Funds in the said Agreement; and further |
RESOLVED:
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That the officers of the Trust, acting singly or jointly, are
hereby authorized by the Board to make any and all payments, in the
name and on behalf of each Fund for which the Board is responsible,
as they may determine to be necessary or desirable and proper in
connection with or in furtherance of the foregoing resolutions; and
further |
RESOLVED:
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That the President and/or Vice President of the Trust is hereby
directed to file the fidelity bond and the agreement among insureds
with the Securities and Exchange Commission and to make the other
filings and give the notices as required by Paragraph (g) of
Rule 17g-1 under the 1940
Act. |
Western Asset Investment Grade Income Fund Inc.
(PAI)
Western Asset Premier Bond Fund (WEA)
Western Asset Inflation-Linked Income Fund (WIA)
Western Asset Inflation-Linked
Opportunities & Income Fund (WIW)
Western Asset Funds, Inc.
Legg Mason Partners Income Trust
Legg Mason Partners Money Market Trust
Legg Mason Partners Institutional Trust
Legg Mason Partners Premium Money Market Trust
Master Portfolio Trust
Legg Mason Partners Variable Income Trust
RESOLVED:
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That the purchase of the fidelity bond coverage with ICI Mutual
for the period July 1, 2021 through June 30, 2022, which
coverage is maintained jointly on behalf of each 1940 Act Fund and
the other parties named as insureds therein, including certain
investment companies subsequently added to the Legg Mason Partners
Funds complex, Legg Mason Funds complex, Western Asset Funds
complex and Franklin Templeton Funds complex, and which provides
coverage in the aggregate amount of $130 million, is approved,
with respect to the Funds for which the Board is responsible; and
further |
RESOLVED:
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That it is the finding of the Board, with respect to the Funds
for which the Board is responsible, that the fidelity bond coverage
with ICI Mutual for the July 1, 2021 through June 30,
2022 policy period in the aggregate amount of $130 million
covering, among others, officers and employees of each 1940 Act
Fund in accordance with the requirements of Rule 17g-1 under the 1940 Act (“Joint
Fidelity Bond”), is reasonable in form and amount, after having
given due consideration to, among other things, the value of the
aggregate assets of each 1940 Act Fund to which any person covered
under the fidelity bond may have access, the type and terms of the
arrangements made for the custody and safekeeping of assets of each
1940 Act Fund and the nature of the securities in each 1940 Act
Fund and its series (as applicable); and further |
RESOLVED:
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That the payment by each 1940 Act Fund of its portion of the
aggregate premium for the Joint Fidelity Bond in the range of
$188,494 - 205,629 for the period July 1, 2021 through
June 30, 2022 for the aforementioned joint insured fidelity
bond as set forth in the Board Material and an Agreement Concerning
Allocation of Fidelity Bond Premiums and Recoveries (“Agreement”)
as described at the meeting is hereby determined by the Board, with
respect to the Funds for which the Board is responsible, to be fair
and reasonable and therefore approved, taking into consideration,
among other things, the number of parties named as insureds, the
nature of the business activities of such parties, the amount of
the joint insured fidelity bond; the amount of the premium for such
bond, the ratable allocation of the premium among all parties named
as insureds; and the extent to which the share of the premium
allocated to such Fund is less than the premium that each such Fund
would have had to pay if it had provided and maintained a single
insured bond; and further |
RESOLVED:
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That the Agreement entered into among the 1940 Act Funds and
the other named insureds under the foregoing fidelity bond coverage
is hereby approved by the Board, with respect to the Funds for
which the Board is responsible, and that each officer of the
Corporation/Trust, acting singly or jointly, is authorized to
execute and deliver such Agreement, with such changes as the
officers may by their execution and delivery approve, the execution
and delivery of said Agreement to be conclusive evidence of the
Board’s approval; and further |
RESOLVED:
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That it is the finding of the Board that the aforementioned
joint insured fidelity bond is intended to cover each 1940 Act Fund
listed under the Agreement and any new Legg Mason-affiliated 1940
Act Fund registered after the inception of such bond will
automatically be included as an insured under the current Joint
Fidelity Bond until the next renewal of such Joint Fidelity Bond,
at which point the 1940 Act Funds will be added to the list of 1940
Act Funds in the said Agreement; and further |
RESOLVED:
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That the officers of the Corporation/Trust, acting singly or
jointly, are hereby authorized by the Board to make any and all
payments, in the name and on behalf of each Fund for which the
Board is responsible, as they may determine to be necessary or
desirable and proper in connection with or in furtherance of the
foregoing resolutions; and further |
RESOLVED:
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That the President and/or Vice President of the
Corporation/Trust is hereby directed to file the fidelity bond and
the agreement among insureds with the Securities and Exchange
Commission and to make the other filings and give the notices as
required by Paragraph (g) of Rule 17g-1 under the 1940 Act. |
BrandywineGLOBAL – Global Income Opportunities Fund
(“BWG”)
Clarion Partners Real Estate Income Fund Inc.
(“CPREIF”)
ClearBridge Energy Midstream Opportunity Fund Inc.
(“EMO”)
ClearBridge MLP and Midstream Fund Inc. (“CEM”)
ClearBridge MLP and Midstream Total Return Fund Inc.
(“CTR”)
LMP Capital and Income Fund Inc. (“SCD”)
Western Asset Diversified Income Fund
Inc.(“WDI”)
Western Asset Emerging Markets Debt Fund Inc.
(“EMD”)
Western Asset Global Corporate Defined Opportunity
Fund Inc. (“GDO”)
Western Asset Global High Income Fund Inc.
(“EHI”)
Western Asset High Income Fund II Inc. (“HIX”)
Western Asset High Income Opportunity Fund Inc.
(“HIO”)
Western Asset High Yield Defined Opportunity Fund
Inc. (“HYI”)
Western Asset Intermediate Muni Fund Inc.
(“SBI”)
Western Asset Investment Grade Defined Opportunity
Trust Inc. (“IGI”)
Western Asset Managed Municipals Fund Inc.
(“MMU”)
Western Asset Middle Market Income Fund Inc.
(“XWMFX”)
Western Asset Mortgage Defined Opportunity Fund Inc.
(“DMO”)
Western Asset Municipal High Income Fund Inc.
(“MHF”)
Western Asset Municipal Partners Fund Inc.
(“MNP”)
RESOLVED:
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That the purchase of the fidelity bond coverage with ICI Mutual
for the period June 30, 2021 through June 30, 2022, which
coverage is maintained jointly on behalf of each 1940 Act Fund and
the other parties named as insureds therein, including certain
investment companies subsequently added to the Legg Mason Partners
Funds complex, Legg Mason Funds complex, Western Asset Funds
complex and Franklin Templeton Funds complex, and which provides
coverage in the aggregate amount of $130 million, is approved,
with respect to the Funds for which the Board is responsible; and
further |
RESOLVED:
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That it is the finding of the Board, with respect to the Funds
for which the Board is responsible, that the fidelity bond coverage
with ICI Mutual for the June 30, 2021 through June 30,
2022 policy period in the aggregate amount of $550,000 to
$600,000 million covering, among others, officers and
employees of each 1940 Act Fund in accordance with the requirements
of Rule 17g-1 under the
1940 Act (“Joint Fidelity Bond”), is reasonable in form and amount,
after having given due consideration to, among other things, the
value of the aggregate assets of each 1940 Act Fund to which any
person covered under the fidelity bond may have access, the type
and terms of the arrangements made for the custody and safekeeping
of assets of each 1940 Act Fund and the nature of the securities in
each 1940 Act Fund and its series (as applicable); and further |
RESOLVED:
|
That the payment by each 1940 Act Fund of its portion of the total
premium of $550,000 to $600,000 for the period June 30, 2021
through June 30, 2022 for the aforementioned joint insured
fidelity bond as set forth in the Board Material and an Agreement
Concerning Allocation of Fidelity Bond Premiums and Recoveries
(“Agreement”) as described at the meeting is hereby determined by
the Board, with respect to the Funds for which the Board is
responsible, to be fair and reasonable and therefore approved,
taking into consideration, among other things, the number of
parties named as insureds, the nature of the business activities
of
|
such parties, the amount of the joint insured fidelity bond; the
amount of the premium for such bond, the ratable allocation of the
premium among all parties named as insureds; and the extent to
which the share of the premium allocated to such Fund is less than
the premium that each such Fund would have had to pay if it had
provided and maintained a single insured bond; and further
RESOLVED:
|
That the Agreement entered into among the 1940 Act Funds and
the other named insureds under the foregoing fidelity bond coverage
is hereby approved by the Board, with respect to the Funds for
which the Board is responsible, and that each officer of the
Corporation/Trust, acting singly or jointly, is authorized to
execute and deliver such Agreement, with such changes as the
officers may by their execution and delivery approve, the execution
and delivery of said Agreement to be conclusive evidence of the
Board’s approval; and further |
RESOLVED:
|
That it is the finding of the Board that the aforementioned
joint insured fidelity bond is intended to cover each 1940 Act Fund
listed under the Agreement and any new Legg Mason-affiliated 1940
Act Fund registered after the inception of such bond will
automatically be included as an insured under the current Joint
Fidelity Bond until the next renewal of such Joint Fidelity Bond,
at which point the 1940 Act Funds will be added to the list of 1940
Act Funds in the said Agreement; and further |
RESOLVED:
|
That the officers of the Corporation/Trust, acting singly or
jointly, are hereby authorized by the Board to make any and all
payments, in the name and on behalf of each Fund for which the
Board is responsible, as they may determine to be necessary or
desirable and proper in connection with or in furtherance of the
foregoing resolutions; and further |
RESOLVED:
|
That the President and/or Vice President of the
Corporation/Trust is hereby directed to file the fidelity bond and
the agreement among insureds with the Securities and Exchange
Commission and to make the other filings and give the notices as
required by Paragraph (g) of Rule 17g-1 under the 1940 Act. |
Amended and Restated Allocation Agreement
This Amended and Restated Allocation Agreement (“Agreement”) is
made as of the 23rd day of February, 2022, by and among the funds
listed on Schedule A1, Schedule A2 and Schedule A3 of this
Agreement (hereafter collectively referred to as the “Funds”) and
the non-funds described on
Schedule B of this Agreement (hereafter collectively referred to as
the “Non-Funds”). The Funds
and Non-Funds are hereafter
collectively referred to as the “Insured.”
This Agreement is entered into under the following
circumstances:
A. |
Section 17(g) of the Investment Company Act of
1940 (the “Act”) provides that the Securities and Exchange
Commission (“SEC”) is authorized to require that the officers and
employees of registered management investment companies be bonded
against larceny and embezzlement, and the SEC has promulgated rules
and regulations dealing with this subject (“Rule 17g-1”);
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B. |
The Funds and the Non-Funds are named as insured’s under
the terms of certain bonds or policies of insurance which insure
against larceny and embezzlement of officers and employees (the
“Fidelity Bonds”);
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C. |
A majority of those members of the Board of
Directors/Trustees of each of the Funds, who are not “interested
persons” as defined by Section 2(a)(19) of the Act, have given
due consideration to all factors relevant to the form, amount and
apportionment of premiums and recoveries on the Fidelity Bonds and
each such Board of Directors/Trustees of each Fund has approved the
term and amount of the Fidelity Bonds, the portion of the premiums
payable by that party, and the manner in which recovery of said
Fidelity Bonds, if any, shall be shared by and among the parties
hereto as hereinafter set forth; and
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D. |
The Insured’s now desire to enter into the agreement
required by Rule 17g-1(f)
to establish the manner in which payment of premiums and recovery
on said Fidelity Bonds, if any, shall be shared.
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NOW, THEREFORE, IT IS HEREBY AGREED by and among the parties
hereto as follows:
The premium shall be allocated between the Insured in accordance
with the requirements of Rule 17g-1(e). The portion of the
premium which is allocated to the Funds shall be divided among the
Funds as follows: each Fund shall pay that percentage of each
premium when due under the Fidelity Bonds which is derived by a
fraction, (i) the denominator of which is the total assets of
all of the Funds combined at the time any premium is due; and
(ii) the numerator of which is the total assets of each of the
Funds individually at the time any premium is due.
2. |
Allocation of Recoveries
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(a) |
If more than one of the parties hereto is damaged in a
single loss for which recovery is received under the Fidelity
Bonds, each such party shall receive that portion of the recovery
which represents the loss sustained by that party, unless the
recovery is inadequate fully to indemnify each such party
sustaining a loss.
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(b) |
If the recovery is inadequate fully to indemnify each
such party hereto sustaining a loss, the recovery shall be
allocated among such parties in the following order:
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(i) |
Each Insured sustaining a loss shall be allocated an
amount equal to the lesser of its actual loss or an amount in the
proportion that each such Insured’s last payment of premium bears
to the sum of the last such premium payments of all such Insured’s,
except that if this allocation would result in any Fund, including
those Fund(s) created during the policy term that have paid no
premium as provided for in paragraph 4 of this Agreement, receiving
less than the minimum amount of recovery under the Fidelity Bonds
which would be required to be maintained by such party under a
single insured fidelity bond in accordance with the provision of
Rule 17g-1(d)(1)
(determined as of the time of the loss) (the “Single Insured
Minimum”), then first from the share allocated to the non-Funds, sufficient monies shall be
re-allocated to the Funds
to bring the share of each Fund up to the Single Insured Minimum
(determined as of the time of the loss).
|
The basis of each reallocation from each of the non-Funds sustaining a loss to Funds
sustaining a loss shall be the proportion that each such
non-Fund’s last payment of
premium bears to the sum of the last such premium payments of all
such non-Funds.
To the extent this reallocation from non-Funds to Funds is still
insufficient to bring the share of each Fund sustaining a loss up
to the Single Insured Minimum (determined as of the time of the
loss), then second, from the share allocated to Funds sustaining a
loss whose allocation exceeds the Single Insured Minimum amount for
the Fund, sufficient monies will be reallocated, to the extent
possible, to the other Funds sustaining a loss to bring the share
of each Fund sustaining a loss up to the Single Insured Minimum
(determined as of the time of loss).
The basis of such reallocation from Funds sustaining a loss to
other Funds sustaining a loss shall be the proportion that each
such Fund’s last payment of premium bears to the last such premium
payments of all such Funds.
|
(ii) |
The remaining portion of the proceeds shall be
allocated to each party sustaining a loss not fully covered by the
allocation under subparagraph (i) in the proportion that each
such party’s last payment of premium bears to the sum of the last
such premium payment of all such parties. If such allocation would
result in any party sustaining a loss receiving a portion of the
recovery in excess of the loss actually sustained by such party,
the aggregate of each excess portion shall be allocated among the
other parties whose losses would not be fully indemnified in the
same proportion that each such party’s last payment of premium
bears to the sum of the last such premium payments of all parties
entitled to receive a share of the excess. Any allocation in excess
of a loss actually sustained by any such party shall be reallocated
in the same manner.
|
3. |
Obligation to Maintain Minimum Coverage
|
Each of the Funds represents and warrants to each of the other
parties hereto that it has determined the amount of its Single
Insured Minimum as of the date hereof and that such Single Insured
Minimum is included in the coverage of the Fidelity Bonds. Each of
the Funds agrees that it will determine, no less often than at the
end of each calendar quarter, the Single Insured Minimum which
would be required of it if a determination with respect to the
adequacy of the coverage were then currently being made. In the
event that the total amount of the minimum coverage thus determined
exceeds the total amount of coverage of then effective Fidelity
Bonds, management of each of the Funds will be notified and will
determine whether it is necessary or appropriate to increase the
total amount of coverage of the Fidelity Bonds to an amount not
less than the total amount of such minimums, or to secure such
excess coverage for one or more of the parties hereto, which, when
added to the total coverage of the Fidelity Bonds, will equal an
amount not less than the total amount of such minimums. Each Fund
agrees to pay its fair (taking into account all of the then
existing circumstances) portion of the new or additional premium;
provided that in the event that a Fund elects to terminate this
Agreement (as to itself as a party hereto pursuant to paragraph 5)
and its participation in the insured Fidelity Bonds on or prior to
the effective date of the new or additional premium, such party
shall not pay any portion of the new or additional premium.
4. |
Newly Created Funds or Non-Funds
|
The parties hereto agree that during the policy term any newly
created Fund(s) or non-Fund(s) can be added as Insured on
the Fidelity Bonds and can be added as parties to this Agreement,
as then currently amended or restated, in the case of this
Agreement, by attaching a revised Schedule A1 and/or Schedule A2
and/or Schedule B, as applicable, to this Agreement that reflects
the addition of such newly created Fund(s) or non-Fund(s); provided that such revised
Schedule A1 and/or Schedule A2 and/or Schedule B is signed by the
proper officers of the Insured that are authorized to execute this
Agreement and is dated with the as of date upon which such
addition(s) is effective. The newly created Fund(s) or non-Fund(s) that are added as Insured
on the Fidelity Bonds and to this Agreement, as then currently
amended or restated, will not be required to pay any premium during
the then current policy term of the Fidelity Bonds, unless,
pursuant to paragraph 3 of this Agreement, an increase in the total
amount of coverage is required. Each of such newly created Fund(s)
or non-Fund(s) that are
added as Insured agrees to pay its proportionate share of any new
or additional premium, as outlined in paragraph 3 to this
Agreement, and to be bound by all other terms and conditions of
this Agreement.
This Agreement shall apply to the present Fidelity Bond coverage
and any renewal or replacement thereof and shall continue until
terminated as to any party by such party hereto giving not less
than sixty days’ notice to the other parties hereto in writing.
This Agreement shall be binding upon, and inure to the benefit of,
the parties hereto and any successor or successors to a party
hereto resulting from a change in domicile or form of corporate,
trust or similar organization of such party.
6. |
Authorization to Execute; Counterparts
|
The parties hereby agree that the proper officers of the Insured
are authorized to execute this Agreement, and any amendments
thereto, on behalf of the parties to this Agreement. This Agreement
may be executed in two or more counterparts, all of which taken
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date first written above.
THE FUNDS LISTED
ON SCHEDULE A1 OF
THIS AGREEMENT,
AND
THE NON-FUND
FRANKLIN RESOURCES,
INC. ON
SCHEDULE B OF
THIS AGREEMENT
|
|
|
By: |
|
/s/ Craig S. Tyle
|
Name: Craig S. Tyle |
|
THE
FUNDS LISTED ON
SCHEDULE A2 OF THIS
AGREEMENT |
|
|
By: |
|
/s/ Leeor Avigdor
|
Name: Leeor Avigdor |
|
THE
FUNDS LISTED ON
SCHEDULE A3 OF THIS
AGREEMENT |
|
|
By: |
|
/s/ Jane Trust
|
Name: Jane Trust |
SCHEDULE A1
Funds
|
Franklin Alternative Strategies Funds |
Franklin California Tax-Free Income Fund |
Franklin California Tax-Free Trust |
Franklin Custodian Funds |
Franklin ETF Trust |
Franklin Federal Tax-Free Income Fund |
Franklin Floating Rate Master Trust |
Franklin Fund Allocator Series |
Franklin Global Trust |
Franklin Gold and Precious Metals Fund |
Franklin High Income Trust |
Franklin Investors Securities Trust |
Franklin Limited Duration Income Trust |
Franklin Managed Trust |
Franklin Municipal Securities Trust |
Franklin Mutual Series Funds |
Franklin New York Tax-Free Income Fund |
Franklin New York Tax-Free Trust |
Franklin Real Estate Securities Trust |
Franklin Strategic Mortgage Portfolio |
Franklin Strategic Series |
Franklin Tax-Free Trust |
Franklin Templeton ETF Trust |
Franklin Templeton Trust |
Franklin Templeton Variable Insurance Products
Trust |
Franklin U.S. Government Money Fund |
Franklin Universal Trust |
Franklin Value Investors Trust |
Institutional Fiduciary Trust |
The Money Market Portfolios |
Templeton China World Fund |
Templeton Developing Markets Trust |
Templeton Dragon Fund, Inc. |
Templeton Emerging Markets Fund |
Templeton Emerging Markets Income Fund |
Templeton Funds |
Templeton Global Income Fund |
Templeton Global Investment Trust |
Templeton Global Smaller Companies Fund |
Templeton Growth Fund, Inc. |
Templeton Income Trust |
Templeton Institutional Funds |
Legg Mason ETF Investment Trust |
ActiveShares® ETF Trust |
SCHEDULE A2
Fund
Broadstone Real Estate Access Fund
SCHEDULE A3
Funds
|
Legg Mason Partners Investment Trust |
Legg Mason Partners Variable Equity Trust |
LMP Capital and Income Fund Inc. |
ClearBridge Energy Midstream Opportunity Fund
Inc. |
BrandywineGLOBAL - Global Income Opportunities
Fund Inc. |
Western Asset Intermediate Muni Fund Inc. |
Western Asset Managed Municipals Fund Inc. |
Western Asset Municipal High Income Fund Inc. |
Western Asset Emerging Markets Debt Fund Inc. |
Western Asset High Income Opportunity Fund
Inc. |
Western Asset Global Corporate Defined Opportunity
Fund Inc. |
Western Asset Municipal Partners Fund Inc. |
Western Asset High Income Fund II Inc. |
Western Asset Investment Grade Defined Opportunity
Trust Inc. |
Western Asset Global High Income Fund Inc. |
Western Asset Mortgage Defined Opportunity Fund
Inc. |
Western Asset High Yield Defined Opportunity Fund
Inc. |
ClearBridge MLP and Midstream Fund, Inc. |
ClearBridge MLP and Midstream Total Return Fund
Inc. |
Western Asset Middle Market Income Fund Inc. |
Clarion Partners Real Estate Income Fund Inc. |
Legg Mason Global Asset Management Trust |
Legg Mason Partners Income Trust |
Legg Mason Partners Institutional Trust |
Legg Mason Partners Money Market Trust |
Legg Mason Partners Premium Money Market
Trust |
Master Portfolio Trust |
Legg Mason Partners Variable Income Trust |
Western Asset Funds, Inc. |
Western Asset Inflation-Linked Income Fund |
Western Asset Inflation-Linked
Opportunities & Income Fund |
Western Asset Investment Grade Income Fund |
Western Asset Premier Bond Fund |
Western Asset Diversified Income Fund |
SCHEDULE B
Non-Funds
Franklin Resources, Inc. and its subsidiaries.
List of Funds insured under Joint Fidelity
Bond
and 17g-1
Bond Limit Calculation
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
TEMPLETON
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
37 |
|
Templeton Foreign Fund
|
|
|
3,790.1 |
|
|
|
|
|
|
|
|
|
27103 |
|
Templeton International Climate Change Fund
|
|
|
2.8 |
|
|
|
|
|
|
|
|
|
31 |
|
Templeton World Fund
|
|
|
3,274.9 |
|
|
|
|
|
|
|
|
|
|
|
Templeton Funds
(3) |
|
|
|
|
|
|
7,067.8 |
|
|
|
2,500,000 |
|
4398 |
|
Templeton Emerging Markets Small Cap Fund
|
|
|
546.2 |
|
|
|
|
|
|
|
|
|
4290 |
|
Templeton Global Balanced Fund
|
|
|
691.0 |
|
|
|
|
|
|
|
|
|
|
|
Templeton Global Investment Trust
(2) |
|
|
|
|
|
|
1,237.2 |
|
|
|
1,250,000 |
|
17283 |
|
Templeton Emerging Markets Bond Fund
|
|
|
23.1 |
|
|
|
|
|
|
|
|
|
97 |
|
Templeton Global Bond Fund
|
|
|
11,494.9 |
|
|
|
|
|
|
|
|
|
12801 |
|
Templeton Global Total Return Fund
|
|
|
1,480.1 |
|
|
|
|
|
|
|
|
|
12052 |
|
Templeton International Bond Fund
|
|
|
306.1 |
|
|
|
|
|
|
|
|
|
|
|
Templeton Income Trust
(4) |
|
|
|
|
|
|
13,304.2 |
|
|
|
2,500,000 |
|
4562 |
|
Foreign Smaller Companies Series
|
|
|
751.9 |
|
|
|
|
|
|
|
|
|
243 |
|
International Equity Series
|
|
|
468.0 |
|
|
|
|
|
|
|
|
|
|
|
Templeton Institutional Funds
(2) |
|
|
|
|
|
|
1,219.9 |
|
|
|
1,250,000 |
|
|
|
INDIVIDUAL TEMPLETON FUNDS THAT ARE NOT PART OF A MULTI
SERIES TRUST
|
|
|
|
|
|
|
|
|
|
|
|
|
4473 |
|
Templeton China World Fund
|
|
|
281.0 |
|
|
|
281.0 |
|
|
|
750,000 |
|
505 |
|
Templeton Developing Markets Trust
|
|
|
1,778.2 |
|
|
|
1,778.2 |
|
|
|
1,500,000 |
|
581 |
|
Templeton Dragon Fund, Inc.
|
|
|
890.5 |
|
|
|
890.5 |
|
|
|
1,000,000 |
|
111 |
|
Templeton Emerging Markets Fund
|
|
|
349.6 |
|
|
|
349.6 |
|
|
|
750,000 |
|
555 |
|
Templeton Emerging Markets Income Fund
|
|
|
404.8 |
|
|
|
404.8 |
|
|
|
750,000 |
|
146 |
|
Templeton Global Income Fund
|
|
|
782.0 |
|
|
|
782.0 |
|
|
|
1,000,000 |
|
30 |
|
Templeton Global Smaller Companies Fund
|
|
|
1,349.3 |
|
|
|
1,349.3 |
|
|
|
1,250,000 |
|
105 |
|
Templeton Growth Fund, Inc.
|
|
|
10,082.6 |
|
|
|
10,082.6 |
|
|
|
2,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TEMPLETON FUNDS
TOTAL |
|
|
|
38,747.0 |
|
|
|
17,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 1 of 10
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
FRANKLIN FUNDS
|
|
|
|
|
|
|
|
|
|
|
|
|
4308 |
|
Franklin DynaTech Fund
|
|
|
26,711.3 |
|
|
|
|
|
|
|
|
|
21293 |
|
Franklin Focused Growth Fund
|
|
|
96.6 |
|
|
|
|
|
|
|
|
|
4306 |
|
Franklin Growth Fund
|
|
|
21,839.6 |
|
|
|
|
|
|
|
|
|
4309 |
|
Franklin Income Fund
|
|
|
72,897.7 |
|
|
|
|
|
|
|
|
|
4110 |
|
Franklin U.S. Government Securities Fund
|
|
|
4,809.3 |
|
|
|
|
|
|
|
|
|
4307 |
|
Franklin Utilities Fund
|
|
|
6,141.0 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Custodian Funds
(6) |
|
|
|
|
|
|
132,495.4 |
|
|
|
2,500,000 |
|
4021 |
|
Franklin Floating Rate Master Series
|
|
|
395.4 |
|
|
|
|
|
|
|
|
|
20794 |
|
Franklin Floating Rate Income Fund
|
|
|
0.4 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Floating Rate Master
Trust (2) |
|
|
|
|
|
|
395.7 |
|
|
|
750,000 |
|
4484 |
|
Franklin Conservative Allocation Fund
|
|
|
115.7 |
|
|
|
|
|
|
|
|
|
4467 |
|
Franklin Corefolio Allocation Fund
|
|
|
0.6 |
|
|
|
|
|
|
|
|
|
28663 |
|
Franklin Emerging Market Core Equity (IU) Fund
|
|
|
123.1 |
|
|
|
|
|
|
|
|
|
4468 |
|
Franklin Global Allocation Fund
|
|
|
3,154.8 |
|
|
|
|
|
|
|
|
|
4486 |
|
Franklin Growth Allocation Fund
|
|
|
131.4 |
|
|
|
|
|
|
|
|
|
28662 |
|
Franklin International Core Equity (IU) Fund
|
|
|
353.9 |
|
|
|
|
|
|
|
|
|
17743 |
|
Franklin LifeSmart 2020 retirement Target Fund
|
|
|
4.9 |
|
|
|
|
|
|
|
|
|
4390 |
|
Franklin LifeSmart 2025 retirement Target Fund
|
|
|
13.9 |
|
|
|
|
|
|
|
|
|
17740 |
|
Franklin LifeSmart 2030 retirement Target Fund
|
|
|
7.9 |
|
|
|
|
|
|
|
|
|
4391 |
|
Franklin LifeSmart 2035 retirement Target Fund
|
|
|
15.0 |
|
|
|
|
|
|
|
|
|
17742 |
|
Franklin LifeSmart 2040 retirement Target Fund
|
|
|
7.0 |
|
|
|
|
|
|
|
|
|
4392 |
|
Franklin LifeSmart 2045 retirement Target Fund
|
|
|
11.0 |
|
|
|
|
|
|
|
|
|
17741 |
|
Franklin LifeSmart 2050 retirement Target Fund
|
|
|
6.4 |
|
|
|
|
|
|
|
|
|
20078 |
|
Franklin LifeSmart 2055 retirement Target Fund
|
|
|
3.9 |
|
|
|
|
|
|
|
|
|
30761 |
|
Franklin LifeSmart 2060 Retirement Target Fund
|
|
|
0.1 |
|
|
|
|
|
|
|
|
|
4389 |
|
Franklin LifeSmart Retirement Income Fund
|
|
|
20.8 |
|
|
|
|
|
|
|
|
|
4485 |
|
Franklin Moderate Allocation Fund
|
|
|
187.0 |
|
|
|
|
|
|
|
|
|
20111 |
|
Franklin Payout 2021 Fund
|
|
|
4.1 |
|
|
|
|
|
|
|
|
|
26694 |
|
Franklin Payout 2022 Fund
|
|
|
3.6 |
|
|
|
|
|
|
|
|
|
28661 |
|
Franklin U.S. Core Equity (IU) Fund
|
|
|
1,092.2 |
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
|
|
Franklin Fund Allocator Series
(20) |
|
|
|
|
|
|
5,257.1 |
|
|
|
2,500,000 |
|
4493 |
|
Franklin Emerging Market Debt Opportunities Fund
|
|
|
133.9 |
|
|
|
|
|
|
|
|
|
12517 |
|
Franklin International Growth Fund
|
|
|
3,212.6 |
|
|
|
|
|
|
|
|
|
4643 |
|
Franklin International Small Cap Fund
|
|
|
92.5 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Global Trust
(3) |
|
|
|
|
|
|
3,438.9 |
|
|
|
2,100,000 |
|
4338 |
|
Franklin Adjustable U.S. Government Securities Fund
|
|
|
685.0 |
|
|
|
|
|
|
|
|
|
4337 |
|
Franklin Convertible Securities Fund
|
|
|
5,225.4 |
|
|
|
|
|
|
|
|
|
4339 |
|
Franklin Equity Income Fund
|
|
|
3,359.8 |
|
|
|
|
|
|
|
|
|
4489 |
|
Franklin Floating Rate Daily Access Fund
|
|
|
1,233.6 |
|
|
|
|
|
|
|
|
|
4991 |
|
Franklin Low Duration Total Return Fund
|
|
|
2,768.7 |
|
|
|
|
|
|
|
|
|
4586 |
|
Franklin Managed Income Fund
|
|
|
4,006.8 |
|
|
|
|
|
|
|
|
|
4460 |
|
Franklin Total Return Fund
|
|
|
4,546.6 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Investors Securities
Trust (7) |
|
|
|
|
|
|
21,825.9 |
|
|
|
2,500,000 |
|
4175 |
|
Franklin California High Yield Municipal Fund
|
|
|
3,299.8 |
|
|
|
|
|
|
|
|
|
4220 |
|
Franklin Tennessee Municipal Bond Fund
|
|
|
196.6 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Municipal Securities
Trust (2) |
|
|
|
|
|
|
3,496.5 |
|
|
|
2,100,000 |
|
4402 |
|
Franklin Biotechnology Discovery Fund
|
|
|
1,419.0 |
|
|
|
|
|
|
|
|
|
4462 |
|
Franklin Growth Opportunities Fund
|
|
|
6,109.6 |
|
|
|
|
|
|
|
|
|
4403 |
|
Franklin Natural Resources Fund
|
|
|
272.3 |
|
|
|
|
|
|
|
|
|
4465 |
|
Franklin Small Cap Growth Fund
|
|
|
4,336.3 |
|
|
|
|
|
|
|
|
|
4198 |
|
Franklin Small-Mid Cap
Growth Fund
|
|
|
5,895.5 |
|
|
|
|
|
|
|
|
|
4194 |
|
Franklin Strategic Income Fund
|
|
|
3,896.0 |
|
|
|
|
|
|
|
|
|
28468 |
|
Franklin Templeton SMACS: Series CH
|
|
|
3.2 |
|
|
|
|
|
|
|
|
|
28469 |
|
Franklin Templeton SMACS: Series E
|
|
|
5.0 |
|
|
|
|
|
|
|
|
|
28470 |
|
Franklin Templeton SMACS: Series H
|
|
|
2.2 |
|
|
|
|
|
|
|
|
|
28471 |
|
Franklin Templeton SMACS: Series I
|
|
|
3.7 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Strategic Series
(10) |
|
|
|
|
|
|
21,942.8 |
|
|
|
2,500,000 |
|
4364 |
|
Franklin Alabama Tax-Free
Income Fund
|
|
|
252.2 |
|
|
|
|
|
|
|
|
|
4726 |
|
Franklin Arizona Tax-Free
Income Fund
|
|
|
1,056.3 |
|
|
|
|
|
|
|
|
|
4327 |
|
Franklin Colorado Tax-Free
Income Fund
|
|
|
764.9 |
|
|
|
|
|
|
|
|
|
4366 |
|
Franklin Connecticut Tax-Free Income Fund
|
|
|
202.7 |
|
|
|
|
|
|
|
|
|
4174 |
|
Franklin Federal Intermediate-Term Tax-Free Income Fund
|
|
|
3,757.3 |
|
|
|
|
|
|
|
|
|
4354 |
|
Franklin Federal Limited-Term Tax-Free Income Fund
|
|
|
1,363.3 |
|
|
|
|
|
|
|
|
|
4365 |
|
Franklin Florida Tax-Free
Income Fund
|
|
|
542.6 |
|
|
|
|
|
|
|
|
|
4328 |
|
Franklin Georgia Tax-Free
Income Fund
|
|
|
486.0 |
|
|
|
|
|
|
|
|
|
4330 |
|
Franklin High Yield Tax-Free Income Fund
|
|
|
6,952.3 |
|
|
|
|
|
|
|
|
|
4172 |
|
Franklin Kentucky Tax-Free
Income Fund
|
|
|
143.1 |
|
|
|
|
|
|
|
|
|
4368 |
|
Franklin Louisiana Tax-Free
Income Fund
|
|
|
396.8 |
|
|
|
|
|
|
|
|
|
4369 |
|
Franklin Maryland Tax-Free
Income Fund
|
|
|
426.3 |
|
|
|
|
|
|
|
|
|
4318 |
|
Franklin Massachusetts Tax-Free Income Fund
|
|
|
454.5 |
|
|
|
|
|
|
|
|
|
4319 |
|
Franklin Michigan Tax-Free
Income Fund
|
|
|
974.9 |
|
|
|
|
|
|
|
|
|
4320 |
|
Franklin Minnesota Tax-Free
Income Fund
|
|
|
1,148.7 |
|
|
|
|
|
|
|
|
|
4360 |
|
Franklin Missouri Tax-Free
Income Fund
|
|
|
1,029.7 |
|
|
|
|
|
|
|
|
|
28870 |
|
Franklin Municipal Green Bond Fund
|
|
|
8.8 |
|
|
|
|
|
|
|
|
|
4371 |
|
Franklin New Jersey Tax-Free Income Fund
|
|
|
848.4 |
|
|
|
|
|
|
|
|
|
4370 |
|
Franklin North Carolina Tax-Free Income Fund
|
|
|
884.1 |
|
|
|
|
|
|
|
|
|
4322 |
|
Franklin Ohio Tax-Free
Income Fund
|
|
|
1,707.5 |
|
|
|
|
|
|
|
|
|
4361 |
|
Franklin Oregon Tax-Free
Income Fund
|
|
|
1,326.7 |
|
|
|
|
|
|
|
|
|
4329 |
|
Franklin Pennsylvania Tax-Free Income Fund
|
|
|
1,078.5 |
|
|
|
|
|
|
|
|
|
4363 |
|
Franklin Virginia Tax-Free
Income Fund
|
|
|
644.3 |
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
|
|
Franklin Tax-Free Trust (23) |
|
|
|
|
|
|
26,449.9 |
|
|
|
2,500,000 |
|
11536 |
|
Franklin Allocation VIP Fund
|
|
|
723.0 |
|
|
|
|
|
|
|
|
|
4410 |
|
Franklin Flex Cap Growth VIP Fund
|
|
|
174.1 |
|
|
|
|
|
|
|
|
|
4824 |
|
Franklin Global Real Estate VIP Fund
|
|
|
147.5 |
|
|
|
|
|
|
|
|
|
4822 |
|
Franklin Growth and Income VIP Fund
|
|
|
72.2 |
|
|
|
|
|
|
|
|
|
4829 |
|
Franklin Income VIP Fund
|
|
|
3,587.0 |
|
|
|
|
|
|
|
|
|
4843 |
|
Franklin Large Cap Growth VIP Fund
|
|
|
138.7 |
|
|
|
|
|
|
|
|
|
4845 |
|
Franklin Mutual Global Discovery VIP Fund
|
|
|
523.7 |
|
|
|
|
|
|
|
|
|
4846 |
|
Franklin Mutual Shares VIP Fund
|
|
|
2,711.9 |
|
|
|
|
|
|
|
|
|
4836 |
|
Franklin Rising Dividends VIP Fund
|
|
|
1,689.1 |
|
|
|
|
|
|
|
|
|
4848 |
|
Franklin Small Cap Value VIP Fund
|
|
|
1,360.4 |
|
|
|
|
|
|
|
|
|
4842 |
|
Franklin Small-Mid Cap
Growth VIP Fund
|
|
|
613.7 |
|
|
|
|
|
|
|
|
|
4884 |
|
Franklin Strategic Income VIP Fund
|
|
|
403.4 |
|
|
|
|
|
|
|
|
|
4830 |
|
Franklin U.S. Government Securities VIP Fund
|
|
|
807.0 |
|
|
|
|
|
|
|
|
|
17071 |
|
Franklin VolSmart Allocation VIP Fund
|
|
|
140.5 |
|
|
|
|
|
|
|
|
|
381 |
|
Templeton Developing Markets VIP Fund
|
|
|
355.0 |
|
|
|
|
|
|
|
|
|
523 |
|
Templeton Foreign VIP Fund
|
|
|
1,310.9 |
|
|
|
|
|
|
|
|
|
4827 |
|
Templeton Global Bond VIP Fund
|
|
|
2,266.8 |
|
|
|
|
|
|
|
|
|
4840 |
|
Templeton Growth VIP Fund
|
|
|
504.2 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Templeton Variable
Insurance Products Trust (18) |
|
|
|
|
|
|
17,529.1 |
|
|
|
2,500,000 |
|
|
|
INDIVIDUAL FRANKLIN FUNDS THAT ARE NOT PART OF A MULTI SERIES
TRUST
|
|
|
|
|
|
|
|
|
|
|
|
|
4312 |
|
Franklin California Tax-Free Income Fund
|
|
|
17,335.1 |
|
|
|
17,335.1 |
|
|
|
2,500,000 |
|
4152 |
|
Franklin California Tax-Free Trust - Franklin California
Intermediate-Term Tax-Free
Income Fund
|
|
|
1,877.0 |
|
|
|
1,877.0 |
|
|
|
1,500,000 |
|
4316 |
|
Franklin Federal Tax-Free
Income Fund
|
|
|
11,447.2 |
|
|
|
11,447.2 |
|
|
|
2,500,000 |
|
4301 |
|
Franklin Gold and Precious Metals Fund
|
|
|
1,288.4 |
|
|
|
1,288.4 |
|
|
|
1,250,000 |
|
4305 |
|
Franklin High Income Trust - Franklin High Income Fund
|
|
|
3,069.2 |
|
|
|
3,069.2 |
|
|
|
2,100,000 |
|
4472 |
|
Franklin Limited Duration Income Trust
|
|
|
419.9 |
|
|
|
419.9 |
|
|
|
750,000 |
|
4358 |
|
Franklin Managed Trust - Franklin Rising Dividends Fund
|
|
|
26,700.0 |
|
|
|
26,700.0 |
|
|
|
2,500,000 |
|
4315 |
|
Franklin New York Tax-Free
Income Fund
|
|
|
3,715.8 |
|
|
|
3,715.8 |
|
|
|
2,300,000 |
|
4153 |
|
Franklin New York Tax-Free
Trust - Franklin New York Intermediate-Term Tax-Free Income Fund
|
|
|
922.6 |
|
|
|
922.6 |
|
|
|
1,000,000 |
|
4192 |
|
Franklin Real Estate Securities Trust - Franklin Real Estate
Securities Fund
|
|
|
448.5 |
|
|
|
448.5 |
|
|
|
750,000 |
|
4157 |
|
Franklin Strategic Mortgage Portfolio
|
|
|
59.9 |
|
|
|
59.9 |
|
|
|
400,000 |
|
4311 |
|
Franklin U.S. Government Money Fund
|
|
|
3,570.1 |
|
|
|
3,570.1 |
|
|
|
2,300,000 |
|
4002 |
|
Franklin Universal Trust
|
|
|
285.0 |
|
|
|
285.0 |
|
|
|
750,000 |
|
4340 |
|
Institutional Fiduciary Trust - Money Market Portfolio
|
|
|
1,439.8 |
|
|
|
1,439.8 |
|
|
|
1,250,000 |
|
4184 |
|
The Money Market Portfolios - The U.S. Government Money Market
Portfolio
|
|
|
0.0 |
|
|
|
— |
|
|
|
— |
|
29386 |
|
Franklin OnChain U.S. Government Money Fund
|
|
|
1.2 |
|
|
|
1.2 |
|
|
|
100,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FRANKLIN FUNDS
TOTAL |
|
|
|
|
|
|
305,411.1 |
|
|
|
41,900,000.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
NEW JERSEY/ALTERNATIVE
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
431 |
|
Franklin Mutual Beacon Fund
|
|
|
3,754.0 |
|
|
|
|
|
|
|
|
|
433 |
|
Franklin Mutual European Fund
|
|
|
830.4 |
|
|
|
|
|
|
|
|
|
666 |
|
Franklin Mutual Financial Services Fund
|
|
|
405.5 |
|
|
|
|
|
|
|
|
|
432 |
|
Franklin Mutual Global Discovery Fund
|
|
|
10,497.4 |
|
|
|
|
|
|
|
|
|
434 |
|
Franklin Mutual Quest Fund
|
|
|
3,341.7 |
|
|
|
|
|
|
|
|
|
435 |
|
Franklin Mutual Shares Fund
|
|
|
8,764.9 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Mutual Series Funds
(6) |
|
|
|
|
|
|
27,594.0 |
|
|
|
2,500,000 |
|
4189 |
|
Franklin MicroCap Value Fund
|
|
|
230.6 |
|
|
|
|
|
|
|
|
|
4150 |
|
Franklin Mutual US Value Fund
|
|
|
891.6 |
|
|
|
|
|
|
|
|
|
4282 |
|
Franklin Small Cap Value Fund
|
|
|
4,850.9 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Value Investors Trust
(3) |
|
|
|
|
|
|
5,973.1 |
|
|
|
2,500,000 |
|
18120 |
|
Franklin K2 Alternative Strategies Fund
|
|
|
1,344.4 |
|
|
|
|
|
|
|
|
|
20225 |
|
Franklin K2 Long Short Credit Fund
|
|
|
108.0 |
|
|
|
|
|
|
|
|
|
|
|
Franklin Alternative Strategies
Funds (2) |
|
|
|
|
|
|
1,452.3 |
|
|
|
1,250,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NJ/ALT FUNDS
TOTAL |
|
|
|
|
|
|
35,019.4 |
|
|
|
6,250,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
FRANKLIN & FRANKLIN
TEMPLETON ETF |
|
|
|
|
|
|
|
|
|
|
|
|
29096 |
|
Franklin Disruptive Commerce ETF
|
|
|
40.3 |
|
|
|
|
|
|
|
|
|
30780 |
|
Franklin Exponential Data ETF
|
|
|
4.1 |
|
|
|
|
|
|
|
|
|
26346 |
|
Franklin FTSE Asia Ex Japan ETF
|
|
|
35.4 |
|
|
|
|
|
|
|
|
|
26365 |
|
Franklin FTSE Australia ETF
|
|
|
24.5 |
|
|
|
|
|
|
|
|
|
26363 |
|
Franklin FTSE Brazil ETF
|
|
|
248.5 |
|
|
|
|
|
|
|
|
|
26364 |
|
Franklin FTSE Canada ETF
|
|
|
28.2 |
|
|
|
|
|
|
|
|
|
26362 |
|
Franklin FTSE China ETF
|
|
|
142.4 |
|
|
|
|
|
|
|
|
|
26349 |
|
Franklin FTSE Europe ETF
|
|
|
195.3 |
|
|
|
|
|
|
|
|
|
26347 |
|
Franklin FTSE Europe Hedged ETF
|
|
|
16.4 |
|
|
|
|
|
|
|
|
|
26361 |
|
Franklin FTSE France ETF
|
|
|
7.7 |
|
|
|
|
|
|
|
|
|
26360 |
|
Franklin FTSE Germany ETF
|
|
|
13.4 |
|
|
|
|
|
|
|
|
|
26359 |
|
Franklin FTSE Hong Kong ETF
|
|
|
17.2 |
|
|
|
|
|
|
|
|
|
26348 |
|
Franklin FTSE India ETF
|
|
|
28.1 |
|
|
|
|
|
|
|
|
|
26358 |
|
Franklin FTSE Italy ETF
|
|
|
4.1 |
|
|
|
|
|
|
|
|
|
26357 |
|
Franklin FTSE Japan ETF
|
|
|
535.2 |
|
|
|
|
|
|
|
|
|
26355 |
|
Franklin FTSE Japan Hedged ETF
|
|
|
24.6 |
|
|
|
|
|
|
|
|
|
27393 |
|
Franklin FTSE Latin America ETF
|
|
|
5.1 |
|
|
|
|
|
|
|
|
|
26354 |
|
Franklin FTSE Mexico ETF
|
|
|
7.2 |
|
|
|
|
|
|
|
|
|
26356 |
|
Franklin FTSE Russia ETF
|
|
|
18.1 |
|
|
|
|
|
|
|
|
|
27392 |
|
Franklin FTSE Saudi Arabia ETF
|
|
|
3.3 |
|
|
|
|
|
|
|
|
|
27391 |
|
Franklin FTSE South Africa ETF
|
|
|
2.6 |
|
|
|
|
|
|
|
|
|
26353 |
|
Franklin FTSE South Korea ETF
|
|
|
76.8 |
|
|
|
|
|
|
|
|
|
26352 |
|
FTETFT-Franklin FTSE Switzerland ETF
|
|
|
53.2 |
|
|
|
|
|
|
|
|
|
26351 |
|
Franklin FTSE Taiwan ETF
|
|
|
44.7 |
|
|
|
|
|
|
|
|
|
26350 |
|
Franklin FTSE United Kingdom ETF
|
|
|
231.1 |
|
|
|
|
|
|
|
|
|
29097 |
|
Franklin Genomic Advancements ETF
|
|
|
18.1 |
|
|
|
|
|
|
|
|
|
29098 |
|
Franklin Intelligent Machines ETF
|
|
|
12.0 |
|
|
|
|
|
|
|
|
|
26729 |
|
Franklin Liberty High Yield Corporate ETF
|
|
|
358.6 |
|
|
|
|
|
|
|
|
|
26175 |
|
Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF
|
|
|
49.7 |
|
|
|
|
|
|
|
|
|
26727 |
|
Franklin Liberty International Aggregate Bond ETF
|
|
|
170.7 |
|
|
|
|
|
|
|
|
|
21558 |
|
Franklin Liberty Investment Grade Corporate ETF
|
|
|
1,070.2 |
|
|
|
|
|
|
|
|
|
26176 |
|
Franklin Liberty Municipal Bond ETF
|
|
|
129.4 |
|
|
|
|
|
|
|
|
|
26728 |
|
Franklin Liberty Senior Loan ETF
|
|
|
210.8 |
|
|
|
|
|
|
|
|
|
28388 |
|
Franklin Liberty Systematic Style Premia ETF
|
|
|
53.9 |
|
|
|
|
|
|
|
|
|
28565 |
|
Franklin Liberty U.S. Core Bond ETF
|
|
|
1,619.7 |
|
|
|
|
|
|
|
|
|
21559 |
|
Franklin Liberty U.S. Low Volatility ETF
|
|
|
138.0 |
|
|
|
|
|
|
|
|
|
29430 |
|
Franklin Liberty Ultra Short Bond ETF
|
|
|
2.5 |
|
|
|
|
|
|
|
|
|
29614 |
|
Franklin Liberty U.S. Treasury Bond ETF
|
|
|
433.0 |
|
|
|
|
|
|
|
|
|
21413 |
|
Franklin LibertyQ Emerging Markets ETF
|
|
|
25.2 |
|
|
|
|
|
|
|
|
|
21415 |
|
Franklin LibertyQ Global Dividend ETF
|
|
|
27.8 |
|
|
|
|
|
|
|
|
|
21414 |
|
Franklin LibertyQ Global Equity ETF
|
|
|
15.9 |
|
|
|
|
|
|
|
|
|
21412 |
|
Franklin LibertyQ International Equity Hedged ETF
|
|
|
16.7 |
|
|
|
|
|
|
|
|
|
25773 |
|
Franklin LibertyQ U.S. Equity ETF
|
|
|
1,362.0 |
|
|
|
|
|
|
|
|
|
25772 |
|
Franklin LibertyQ U.S. Mid Cap Equity ETF
|
|
|
44.0 |
|
|
|
|
|
|
|
|
|
25771 |
|
Franklin LibertyQ U.S. Small Cap Equity ETF
|
|
|
19.1 |
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
|
|
Franklin Templeton ETF Trust
(45) |
|
|
|
|
|
|
7,584.8 |
|
|
|
2,500,000 |
|
18000 |
|
Franklin ETF Trust - Franklin Liberty Short Duration U.S.
Government ETF
|
|
|
472.1 |
|
|
|
|
|
|
|
|
|
29659 |
|
Franklin Equity Portfolio Fund
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
29660 |
|
Franklin Fixed Income Portfolio Fund
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
|
|
Franklin EFT Trust
(3) |
|
|
|
|
|
|
472.1 |
|
|
|
750,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FRANKLIN & FRANKLIN
TEMPLETON ETF TOTAL |
|
|
|
|
|
|
8,056.9 |
|
|
|
3,250,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BENEFIT STREET
PARTNERS |
|
|
|
|
|
|
|
|
|
|
|
|
28074 |
|
Business Development Corporation of America†
|
|
|
2,973.1 |
|
|
|
2,973.1 |
|
|
|
1,900,000 |
|
31180 |
|
Franklin BSP Capital Corporation†
|
|
|
635.0 |
|
|
|
635.0 |
|
|
|
900,000 |
|
29694 |
|
Broadstone Real Estate Access Fund
|
|
|
31.7 |
|
|
|
31.7 |
|
|
|
300,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit Street Partners
Total |
|
|
|
|
|
|
3,639.8 |
|
|
|
3,100,000.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
† Not an SEC Registered Fund, but a BDC subject to 40 Act
regulations, including Bonding requirement, and not included in
this filing.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Franklin Templeton Funds Total
|
|
|
390,874.1 |
|
|
|
390,874.1 |
|
|
|
71,500,000.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Equity
Funds |
|
|
|
|
|
|
|
|
|
|
|
|
90052 |
|
QS Global Equity Fund*
|
|
|
196.3 |
|
|
|
|
|
|
|
|
|
90049 |
|
ClearBridge Tactical Dividend Income Fund
|
|
|
338.9 |
|
|
|
|
|
|
|
|
|
90017 |
|
ClearBridge Dividend Strategy Fund
|
|
|
7,215.4 |
|
|
|
|
|
|
|
|
|
90003 |
|
ClearBridge All Cap Value Fund
|
|
|
1,644.1 |
|
|
|
|
|
|
|
|
|
90113 |
|
QS Defensive Growth Fund*
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
90110 |
|
QS Conservative Growth Fund*
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
90111 |
|
QS Growth Fund*
|
|
|
1.7 |
|
|
|
|
|
|
|
|
|
90112 |
|
QS Moderate Growth Fund*
|
|
|
1.8 |
|
|
|
|
|
|
|
|
|
90132 |
|
ClearBridge Large Cap Growth Fund
|
|
|
19,350.3 |
|
|
|
|
|
|
|
|
|
90012 |
|
ClearBridge Aggressive Growth Fund
|
|
|
7,366.5 |
|
|
|
|
|
|
|
|
|
90153 |
|
ClearBridge Mid Cap Fund
|
|
|
2,336.1 |
|
|
|
|
|
|
|
|
|
90755 |
|
ClearBridge Mid Cap Growth Fund
|
|
|
141.5 |
|
|
|
|
|
|
|
|
|
90138 |
|
QS S&P 500 Index Fund*
|
|
|
349.4 |
|
|
|
|
|
|
|
|
|
90035 |
|
ClearBridge Large Cap Value Fund
|
|
|
2,521.7 |
|
|
|
|
|
|
|
|
|
90149 |
|
ClearBridge Small Cap Growth Fund
|
|
|
6,422.0 |
|
|
|
|
|
|
|
|
|
90000 |
|
ClearBridge Appreciation Fund
|
|
|
7,938.4 |
|
|
|
|
|
|
|
|
|
90022 |
|
ClearBridge International Value Fund
|
|
|
245.2 |
|
|
|
|
|
|
|
|
|
90757 |
|
ClearBridge International Small Cap Fund
|
|
|
52.3 |
|
|
|
|
|
|
|
|
|
90646 |
|
QS U.S. Large Cap Equity Fund*
|
|
|
789.3 |
|
|
|
|
|
|
|
|
|
90164 |
|
ClearBridge Small Cap Value Fund
|
|
|
132.4 |
|
|
|
|
|
|
|
|
|
90968 |
|
ClearBridge Select Fund
|
|
|
2,798.5 |
|
|
|
|
|
|
|
|
|
91003 |
|
QS Global Dividend Fund*
|
|
|
395.0 |
|
|
|
|
|
|
|
|
|
91306 |
|
ClearBridge Sustainability Leaders Fund
|
|
|
59.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Equity Trust*
(23) |
|
|
|
|
|
|
60,296.2 |
|
|
|
2,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90265 |
|
ClearBridge Variable Dividend Strategy Portfolio
|
|
|
526.8 |
|
|
|
|
|
|
|
|
|
90123 |
|
QS Variable Conservative Growth*
|
|
|
0.1 |
|
|
|
|
|
|
|
|
|
90171 |
|
ClearBridge Variable Aggressive Growth Portfolio
|
|
|
312.7 |
|
|
|
|
|
|
|
|
|
90056 |
|
ClearBridge Variable Appreciation Portfolio
|
|
|
1,014.4 |
|
|
|
|
|
|
|
|
|
92174 |
|
LM/QS Aggressive Model Portfolio*
|
|
|
154.5 |
|
|
|
|
|
|
|
|
|
92173 |
|
LM/QS Moderately Aggressive Model Portfolio*
|
|
|
584.4 |
|
|
|
|
|
|
|
|
|
92172 |
|
LM/QS Moderate Model Portfolio*
|
|
|
550.8 |
|
|
|
|
|
|
|
|
|
92171 |
|
LM/QS Moderately Conservative Model Portfolio*
|
|
|
227.4 |
|
|
|
|
|
|
|
|
|
92170 |
|
LM/QS Conservative Model Portfolio*
|
|
|
118.3 |
|
|
|
|
|
|
|
|
|
90124 |
|
QS Variable Growth*
|
|
|
0.4 |
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
90125 |
|
QS Variable Moderate Growth*
|
|
|
0.1 |
|
|
|
|
|
|
|
|
|
90145 |
|
ClearBridge Variable Large Cap Growth Portfolio
|
|
|
449.5 |
|
|
|
|
|
|
|
|
|
90172 |
|
ClearBridge Variable Mid Cap Portfolio
|
|
|
274.6 |
|
|
|
|
|
|
|
|
|
90140 |
|
ClearBridge Variable Large Cap Value Portfolio
|
|
|
311.6 |
|
|
|
|
|
|
|
|
|
90176 |
|
ClearBridge Variable Small Cap Growth Portfolio
|
|
|
555.4 |
|
|
|
|
|
|
|
|
|
94140 |
|
QS Legg Mason Dynamic Multi-Strategy VIT Portfolio* (WAM
Managed)
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
90858 |
|
QS Legg Mason Dynamic Multi-Strategy VIT Portfolio* (QS
Managed)
|
|
|
67.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Variable
Equity Trust (16) |
|
|
|
|
|
|
5,148.2 |
|
|
|
2,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
91415 |
|
Legg Mason Low Volatility High Dividend ETF (LVHD)
|
|
|
743.7 |
|
|
|
|
|
|
|
|
|
91481 |
|
Legg Mason International Low Volatility High Dividend ETF
(LVHI)
|
|
|
70.9 |
|
|
|
|
|
|
|
|
|
91557 |
|
Legg Mason Global Infrastructure ETF (INFR)
|
|
|
12.4 |
|
|
|
|
|
|
|
|
|
91662 |
|
Legg Mason Small-Cap
Quality Value ETF
|
|
|
17.1 |
|
|
|
|
|
|
|
|
|
91616 |
|
ClearBridge All Cap Growth ETF
|
|
|
225.6 |
|
|
|
|
|
|
|
|
|
91629 |
|
ClearBridge Dividend Strategy ESG ETF
|
|
|
19.9 |
|
|
|
|
|
|
|
|
|
91630 |
|
ClearBridge Large Cap Growth ESG ETF
|
|
|
158.9 |
|
|
|
|
|
|
|
|
|
91903 |
|
Western Asset Total Return ETF
|
|
|
126.4 |
|
|
|
|
|
|
|
|
|
91970 |
|
Western Asset Short Duration Income ETF
|
|
|
13.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason ETF Investment Trust
(9) |
|
|
|
|
|
|
1,388.1 |
|
|
|
1,250,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDIVIDUAL LMP FUNDS THAT ARE NOT PART OF A MULTI SERIES
TRUST
|
|
|
|
|
|
|
|
|
|
|
|
|
92192 |
|
Active Shares ETF Trust - ClearBridge Focus Value ETF
|
|
|
4.0 |
|
|
|
4.0 |
|
|
|
125,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Funds
Total |
|
|
|
|
|
|
66,836.5 |
|
|
|
6,375,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Closed-End Funds
|
|
|
|
|
|
|
|
|
|
|
|
|
90324 |
|
LMP Capital and Income Fund Inc.
|
|
|
334.7 |
|
|
|
334.7 |
|
|
|
750,000 |
|
90813 |
|
ClearBridge Energy Midstream Opportunity Fund Inc.
|
|
|
537.1 |
|
|
|
537.1 |
|
|
|
900,000 |
|
90884 |
|
BrandywineGLOBAL - Global Income Opportunities Fund Inc.
|
|
|
351.2 |
|
|
|
351.2 |
|
|
|
750,000 |
|
90061 |
|
Western Asset Intermediate Muni Fund Inc.
|
|
|
196.6 |
|
|
|
196.6 |
|
|
|
600,000 |
|
90064 |
|
Western Asset Managed Municipals Fund Inc.
|
|
|
863.1 |
|
|
|
863.1 |
|
|
|
1,000,000 |
|
90031 |
|
Western Asset Municipal High Income Fund Inc.
|
|
|
176.9 |
|
|
|
176.9 |
|
|
|
600,000 |
|
90304 |
|
Western Asset Emerging Markets Debt Fund Inc.
|
|
|
1,235.7 |
|
|
|
1,235.7 |
|
|
|
1,250,000 |
|
90073 |
|
Western Asset High Income Opportunity Fund Inc.
|
|
|
522.3 |
|
|
|
522.3 |
|
|
|
900,000 |
|
90716 |
|
Western Asset Global Corporate Defined Opportunity Fund Inc.
|
|
|
388.9 |
|
|
|
388.9 |
|
|
|
750,000 |
|
90068 |
|
Western Asset Municipal Partners Fund Inc.
|
|
|
252.9 |
|
|
|
252.9 |
|
|
|
750,000 |
|
90148 |
|
Western Asset High Income Fund II Inc.
|
|
|
596.2 |
|
|
|
596.2 |
|
|
|
900,000 |
|
90705 |
|
Western Asset Investment Grade Defined Opportunity Trust Inc.
|
|
|
236.7 |
|
|
|
236.7 |
|
|
|
600,000 |
|
90692 |
|
Western Asset Municipal Defined Opportunity Trust Inc.
|
|
|
0.0 |
|
|
|
— |
|
|
|
50,000 |
|
90293 |
|
Western Asset Global High Income Fund Inc.
|
|
|
348.7 |
|
|
|
348.7 |
|
|
|
750,000 |
|
90724 |
|
Western Asset Mortgage Defined Opportunity Fund Inc.
|
|
|
232.6 |
|
|
|
232.6 |
|
|
|
600,000 |
|
90766 |
|
Western Asset High Yield Defined Opportunity Fund Inc.
|
|
|
362.1 |
|
|
|
362.1 |
|
|
|
750,000 |
|
90745 |
|
ClearBridge MLP and Midstream Fund, Inc.
|
|
|
647.3 |
|
|
|
647.3 |
|
|
|
900,000 |
|
90924 |
|
ClearBridge MLP and Midstream Total Return Fund Inc.
|
|
|
293.8 |
|
|
|
293.8 |
|
|
|
750,000 |
|
91199 |
|
Western Asset Middle Market Income Fund Inc.
|
|
|
140.0 |
|
|
|
140.0 |
|
|
|
525,000 |
|
92083 |
|
Clarion Partners Real Estate Income Fund Inc. (Clarion
Managed)
|
|
|
79.7 |
|
|
|
79.7 |
|
|
|
450,000 |
|
94095 |
|
Clarion Partners Real Estate Income Fund Inc. (Western
Managed)
|
|
|
17.5 |
|
|
|
17.5 |
|
|
|
225,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Closed-End Funds Total
|
|
|
|
|
|
|
7,813.9 |
|
|
|
14,750,000.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
Legg Mason
Funds |
|
|
|
|
|
|
|
|
|
|
|
|
90719 |
|
BrandywineGLOBAL - International Opportunities Bond Fund
|
|
|
61.3 |
|
|
|
|
|
|
|
|
|
90725 |
|
QS Strategic Real Return Fund*
|
|
|
113.9 |
|
|
|
|
|
|
|
|
|
90756 |
|
BrandywineGLOBAL - Diversified US Large Cap Value Fund
|
|
|
581.3 |
|
|
|
|
|
|
|
|
|
90800 |
|
BrandywineGLOBAL - Global Unconstrained Bond Fund
|
|
|
758.8 |
|
|
|
|
|
|
|
|
|
90096 |
|
ClearBridge International Growth Fund
|
|
|
6,503.7 |
|
|
|
|
|
|
|
|
|
90020 |
|
ClearBridge Small Cap Fund
|
|
|
1,371.6 |
|
|
|
|
|
|
|
|
|
90007 |
|
ClearBridge Value Trust
|
|
|
2,206.0 |
|
|
|
|
|
|
|
|
|
90190 |
|
QS U.S. Small Capitalization Equity Fund*
|
|
|
203.6 |
|
|
|
|
|
|
|
|
|
90503 |
|
BrandywineGLOBAL - Global Opportunities Bond Fund
|
|
|
2,513.0 |
|
|
|
|
|
|
|
|
|
90067 |
|
QS International Equity Fund*
|
|
|
224.6 |
|
|
|
|
|
|
|
|
|
90720 |
|
BrandywineGLOBAL - Global High Yield Fund
|
|
|
32.7 |
|
|
|
|
|
|
|
|
|
91103 |
|
BrandywineGLOBAL - Alternative Credit Fund
|
|
|
230.9 |
|
|
|
|
|
|
|
|
|
91223 |
|
BrandywineGLOBAL - Dynamic US Large Cap Value Fund
|
|
|
236.3 |
|
|
|
|
|
|
|
|
|
90093 |
|
Martin Currie Emerging Markets Fund
|
|
|
532.6 |
|
|
|
|
|
|
|
|
|
91403 |
|
QS Global Market Neutral Fund*
|
|
|
69.6 |
|
|
|
|
|
|
|
|
|
91402 |
|
Martin Currie International Unconstrained Equity Fund
|
|
|
23.4 |
|
|
|
|
|
|
|
|
|
91755 |
|
Martin Currie SMASh Series EM Fund
|
|
|
981.1 |
|
|
|
|
|
|
|
|
|
91462 |
|
BrandywineGLOBAL - Flexible Bond Fund
|
|
|
122.0 |
|
|
|
|
|
|
|
|
|
91444 |
|
ClearBridge Global Infrastructure Income Fund
|
|
|
57.1 |
|
|
|
|
|
|
|
|
|
91996 |
|
BrandywineGLOBAL - Global Opportunities Bond Fund (USD hedged)
|
|
|
445.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Global Asset
Management Trust (20) |
|
|
|
|
|
|
17,269.1 |
|
|
|
2,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Funds
Total |
|
|
|
|
|
|
17,269.1 |
|
|
|
2,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Western Asset
Funds |
|
|
|
|
|
|
|
|
|
|
|
|
90040 |
|
Western Asset Income Fund
|
|
|
1,345.7 |
|
|
|
|
|
|
|
|
|
90013 |
|
Western Asset Mortgage Total Return Fund
|
|
|
720.8 |
|
|
|
|
|
|
|
|
|
90078 |
|
Western Asset Pennsylvania Municipals Fund
|
|
|
163.9 |
|
|
|
|
|
|
|
|
|
90083 |
|
Western Asset Oregon Municipals Fund
|
|
|
67.7 |
|
|
|
|
|
|
|
|
|
90060 |
|
Western Asset Intermediate Maturity New York Municipals Fund
|
|
|
162.3 |
|
|
|
|
|
|
|
|
|
90028 |
|
Western Asset New York Municipals Fund
|
|
|
545.4 |
|
|
|
|
|
|
|
|
|
90014 |
|
Western Asset California Municipals Fund
|
|
|
406.7 |
|
|
|
|
|
|
|
|
|
90002 |
|
Western Asset Managed Municipals Fund
|
|
|
4,781.0 |
|
|
|
|
|
|
|
|
|
90059 |
|
Western Asset Intermediate Maturity California Municipals Fund
|
|
|
167.2 |
|
|
|
|
|
|
|
|
|
90018 |
|
Western Asset Municipal High Income Fund
|
|
|
485.3 |
|
|
|
|
|
|
|
|
|
90029 |
|
Western Asset Massachusetts Municipals Fund
|
|
|
98.9 |
|
|
|
|
|
|
|
|
|
90030 |
|
Western Asset New Jersey Municipals Fund
|
|
|
162.4 |
|
|
|
|
|
|
|
|
|
90032 |
|
Western Asset Intermediate-Term Municipals Fund
|
|
|
2,837.4 |
|
|
|
|
|
|
|
|
|
90025 |
|
Western Asset Short Duration High Income Fund
|
|
|
379.0 |
|
|
|
|
|
|
|
|
|
90005 |
|
Western Asset Corporate Bond Fund
|
|
|
1,232.7 |
|
|
|
|
|
|
|
|
|
90058 |
|
Western Asset Short-Term Bond Fund
|
|
|
1,081.2 |
|
|
|
|
|
|
|
|
|
90063 |
|
Western Asset Ultra-Short Income Fund
|
|
|
610.6 |
|
|
|
|
|
|
|
|
|
90118 |
|
Western Asset Emerging Markets Debt Fund
|
|
|
32.5 |
|
|
|
|
|
|
|
|
|
90094 |
|
Western Asset Global High Yield Bond Fund
|
|
|
192.8 |
|
|
|
|
|
|
|
|
|
90279 |
|
Western Asset Short Duration Municipal Income Fund
|
|
|
862.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Income Trust
(20) |
|
|
|
|
|
|
16,335.5 |
|
|
|
2,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90065 |
|
Western Asset Institutional Liquid Reserves
|
|
|
4,232.3 |
|
|
|
|
|
|
|
|
|
90066 |
|
Western Asset Institutional U.S. Treasury Reserves
|
|
|
12,234.1 |
|
|
|
|
|
|
|
|
|
90127 |
|
Western Asset Select Tax Free Reserves
|
|
|
217.2 |
|
|
|
|
|
|
|
|
|
90520 |
|
Western Asset SMASh Series M Fund
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
90521 |
|
Western Asset SMASh Series C Fund
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
90522 |
|
Western Asset SMASh Series Core Plus Completion Fund
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
As Of 06/30/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OneTIS# Fund Name
|
|
Fund AUM
(In $ Millions) |
|
|
Trust AUM
(In $ Millions) |
|
|
17g-1 Required
Bond Limit |
|
|
|
Western Asset SMASh Series Core Completion Fund
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
|
|
Western Asset SMASh Series TF Fund
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
90098 |
|
Western Asset Institutional Government Reserves
|
|
|
12,403.9 |
|
|
|
|
|
|
|
|
|
91067 |
|
Western Asset Institutional U.S. Treasury Obligations Money Market
Fund
|
|
|
418.1 |
|
|
|
|
|
|
|
|
|
92108 |
|
Western Asset Premier Institutional Liquid Reserves
|
|
|
500.2 |
|
|
|
|
|
|
|
|
|
92110 |
|
Western Asset Premier Institutional Government Reserves
|
|
|
0.1 |
|
|
|
|
|
|
|
|
|
92111 |
|
Western Asset Premier Institutional US Treasury Reserves
|
|
|
75.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Institutional
Trust (13) |
|
|
|
|
|
|
30,081.6 |
|
|
|
2,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90016 |
|
Western Asset Tax Free Reserves
|
|
|
79.8 |
|
|
|
|
|
|
|
|
|
90019 |
|
Western Asset New York Tax Free Money Market Fund
|
|
|
122.3 |
|
|
|
|
|
|
|
|
|
90054 |
|
Western Asset U.S. Treasury Reserves
|
|
|
188.3 |
|
|
|
|
|
|
|
|
|
90051 |
|
Western Asset Government Reserves
|
|
|
1,672.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legg Mason Partners Money Market
Trust (4) |
|
|
|
|
|
|
2,063.3 |
|
|
|
1,700,000 |
|
|
|
|
|
|
|
|
|
|