Investment Detail | Print Date: 01 August 2023 Page 1 of 3

Franklin Global Growth W

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Product Type Legal Type Fund Status
Retail Investment Trusts Open

Manager's Quarterly Comments 30 Sep 2022 Performance 30 Jun 2023

Portfolio and Market Returns The Bentham Global Income 20.0 Growth of $10,000
Fund
Fund had a total return (after fees) of -2.32% in the month 17.5 $17,897
of September, underperforming the benchmark (50% 15.0 Market Index
Bloomberg AusBond Bank Bill Index, 50% Bloomberg $17,985
12.5
AusBond Composite Index) by 1.72%. On a before fees
10K
basis the fund returned -2.27% for the month,
underperforming the benchmark by 1.66%. September was 2018 2019 2020 2021 2022 YTD Annual
another negative month of performance across global
-3.69 35.76 30.60 21.76 -23.84 17.65 Total Return %
investment markets. Global equity indices suffered sharp
2.65 4.29 6.02 0.00 0.21 3.66 Income Return %
price falls while fixed income markets underperformed as
-6.19 30.20 22.73 21.76 -24.00 13.52 Growth Return %
both government bond yields and credit spreads increased.
Bentham funds had negative returns as they were NAv NAv NAv NAv NAv NAv Tax-Adj Return %
impacted by negative markets. The top contributors to
performance included Residential Mortgage Backed Trailing 6 Mth 1 Yr 3 Yr 5 Yr 10 Yr
Securities (RMBS), Equity Securities and Bond; whilst the Total Return % 17.65 22.11 8.59 11.15 14.37
bottom performing contributors included Global Syndicated Income Return % 3.66 3.66 1.28 2.81 5.11
Loans, Capital Securities and Investment Grade Credit. The Growth Return % 13.52 17.82 7.23 8.04 8.33
recent increase in government bond yields and a Tax Adjusted Return % NAv NAv NAv NAv NAv
steepening of the yield curve was not a surprise, and the ...................................................................................................................................................................................
managers caution that bond yields may not yet have Market Index % 17.53 22.59 13.48 11.46 13.17
peaked. The fund's strategy has been to add interest rate Market Index: MSCI World Ex Australia NR AUD
duration in economies where households have a high
sensitivity to the projected rate rises. The managers have Asset Allocation Risk Measures
perhaps already seen an indication of this sensitivity with Composition (30 Jun 2023) % Assets 1yr 5yr 15yr
the RBA’s recent decision to only hike rates at 25bps Standard Deviation 17.04 16.07 NAv
Domestic Equity 0.00
(some might even consider this a pivot by Martin Place). In
Int'l Equity 96.98 Sharpe Ratio 1.07 0.66 NAv
the fund's multi-sector credit portfolios, the managers
Listed Property 0.00 Alpha -2.54 -1.01 NAv
remain active on managing interest rate risk and have
Unlisted Property 0.00 Beta 1.14 1.12 NAv
increased the fund's interest rate duration further and
reduced credit risk in anticipation of a slowing economy. Dom Fixed Interest 0.00
R-Squared 80.53 74.9 NAv
Market concerns of potential economic weakness have Intl Fixed Interest 0.00 .....................................................................................
seen credit markets weaken this year, with credit spreads Cash 3.02 Upside/Downside Capture
increasing significantly as traded credit markets have Other 0.00 Upside Capture 106.52 109.61 NAv
actively repriced. Downside Capture 120.71 118.94 NAv
Batting Averages 50.0 50.0 NAv
PDS Objective
The investment objective of the Fund is to outperform the Portfolio 30 Jun 2023
MSCI World ex Australia Index, in Australian dollar terms Top Holdings Sector % Assets Top 5 Sector Weightings % Assets
after fees and expenses (but before taxes), over the Synopsys Inc  3.97  Technology 33.49
medium to longer term. Rockwell Automation Inc  3.78  Healthcare 17.99
Intuitive Surgical Inc  3.77  Financial Services 16.48
Fund Investment Strategy Zscaler Inc  3.77  Consumer Cyclical 14.83
The Fund invests in a diversified portfolio of equity Broadridge Financial Solutions Inc  3.61  Industrials 7.62
securities listed on recognised stock exchanges in both Tyler Technologies Inc  3.55
developed and emerging markets around the world (other DSV AS  3.46 Top 5 Countries % Assets
than in Australia). HDFC Bank Ltd ADR  3.43 United States 73.23
Danaher Corp  3.32 Switzerland 9.02
Prospective Fees & Costs 31 May 2022
Amadeus IT Group SA  3.30 Denmark 3.64
Total Cost Ratio (Prospective) 0.90%
India 3.61
Investment Management Fee 0.90%
Spain 3.47
Performance Fee Costs NAv
Administration Fees & Costs NAv
......................................................................................
Buy Spread/Sell Spread 0.15% /0.15%
Sustainability Info 31 May 2023 Operations
Corporate Sustainability Score 19 / 100 Investment Details Manager Info
Sovereign Sustainability Score NAv APIR Code FRT0009AU Responsible Entity(RE) Franklin Templeton
...................................................................................... Fund Inception 01 Oct 2008 Investments Aus Ltd
Environmental 3 / 100
Net Assets (Mil) 30 Jun 2023 $686.87 RE Telephone +61 3 96031200
Social 8 / 100
Entry Price 28 Jul 2023 $2.3564 RE Website www.franklintempleton.com.au
Governance 6 / 100
Exit Price 28 Jul 2023 $2.3494 Fund Manager Franklin Templeton
Unallocated 1 / 100
Investments Aus Ltd
Current Sustainability Scores based on 96.99% of corporate AUM and
......................................................................................
NAv% of sovereign AUM | Sustainability Score as of 31 May 2023. Distribution
© 2023 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or
distribution. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any
general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of
these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source
of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain
advice tailored to your situation, contact a financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782.
Investment Detail | Print Date: 01 August 2023 Page 2 of 3

Distributions Frequency Semi-Annually

Year Ended 30 June 2020 2021 2022 2023

Distributed CPU 11.99 NAv 0.41 8.39

© 2023 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or
distribution. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any
general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of
these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source
of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain
advice tailored to your situation, contact a financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782.
Investment Detail | Print Date: 01 August 2023
Managed Fund Investment Detail Disclosure Statement - Basic
PDS Objective
Under this section of the Product Disclosure Statement
(PDS), the manager outlines the goals and investment
horizon of the product.
Fund Investment Strategy
Taken directly from the PDS, this paragraph reveals the
fund manager’s investment approach to achieve their
stated objective.
Performance
    The graph compares the growth of
$10,000 in a fund with that of a capital market index
chosen by Morningstar and with that of the average
growth for all funds in its Morningstar peer group. The
index is an unmanaged portfolio of specified securities. The
index and the category average do not reflect any initial
expenses however the category average returns are net of
ongoing fees. A fund’s portfolio may differ significantly
from the securities in the index.
Total return reflects performance without adjusting for
sales charges but is adjusted to reflect all actual ongoing
fund expenses and assumes reinvestment of distributions.
Growth return is the percentage change in the scheme’s
soft close exit price adjusted for any capital
re-organisation. Income return is the total return less
growth return and reflects the level of distributions from a
fund. For Australian funds, performance is not adjusted for
taxation. For New Zealand PIE funds, tax credits are added
back to the performance. For New Zealand non-PIE funds
returns are calculated net of tax. Trailing returns for periods
over one year are annualised.
Tax-Adjusted return is a pre-liquidation performance
calculation for Australian funds only that assumes the
taxed distribution amount (as opposed to the gross
distribution amount used in the total return calculation) is
reinvested.
Asset Allocation
The composition graphic represents a breakdown of the
fund’s holdings into general investment classes based on
surveyed data provided by the fund manager.
  The largest exposure of eligible securities
within a fund's portfolio. Portfolio holdings information is
based on the most recent information available to
Morningstar, and eligible securities are defined by
Morningstar's Global Methodology team, and will exclude
positions not considered core to the portfolio.
     The Morningstar sector structure
divides the stock universe into 129 industries ranging from
semiconductors to medical equipment. These industries
are classified into 41 industry groups, which are then used
to construct 12 separate sectors.
   The largest geographical exposure of a
fund’s stock assets. Country assignments are based on the
primary exchange where each stock is traded.
Risk Measures
   !"  A statistical measure of the volatility
of the fund's returns.
© 2023 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or
distribution. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any
general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of
these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source
of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain
advice tailored to your situation, contact a financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782.
  #  A risk-adjusted measure to determine
reward per unit of risk.
$  A measure of the difference between a fund's
actual returns and its expected performance, given its level
of risk as measured by beta.
%  A measure of systematic risk with respect to a
benchmark.
#&'  Reflects the percentage of a fund's
performance that can be explained by movements in its
benchmark.
(   #  Measures fund manager's
performance in up markets relative to the market
(benchmark) itself. It is calculated by taking the fund's
upside capture return and dividing it by the benchmark's
upside capture return.
!   #  Measures fund manager's
performance in a down markets. A down-market is defined
as those periods (months or quarters) in which market
return is less than 0. It determines what percentage of the
down-market was captured by the manager.
%  $"  A measure of a manager's ability to
consistently beat the market. It is calculated by dividing
the number of months in which the manager beat or
matched an index by the total number of months in the
period.
Fees
   #  The Total Cost Ratio (Prospective)
represents the forward-looking figure encompassing the
total non-discretionary fees and costs associated with
managing and administering collective investment
products.
%)&  &  The Buy-Spread and Sell-Spread
is a transaction cost incurred by the investor that reflects
an estimated transaction costs incurred by the fund in
dealing with the underlying securities as shown in the PDS.
* +  ,  Performance Fee shown in the
"Fees and Costs Summary" table in the PDS. It is intended
as a representation of potential on-going performance fee
expenses and is a calculated average using the
performance fee costs from the last five financial years (or
as many as the performance fee was applicable). This
amount includes the Performance Fee costs arising from
Interposed Vehicles.
-"+ .  + , The Management Fee (MIS)
and Investment Fees (Super) shown in the PDS, that is
attributable to investment management, which are fees
and costs an investor would expect to be charged over the
year. This excludes the costs arising from interposed
vehicles.
$+  ,   / , )0 The
Administration Fees and Costs shown in the "Fees and
Costs Summary" table in the PDS. This includes OTC
Derivative Costs deemed to be Administration costs.
Page 3 of 3
Morningstar Sustainability Rating
The Morningstar Sustainability Rating is intended to
measure how well the issuing companies of the securities
within a fund's portfolio holdings are managing their
environmental, social, and governance, or ESG, risks and
opportunities relative to the fund's Morningstar Category
peers.
Morningstar assigns Sustainability Ratings by combining a
portfolio's Corporate Sustainability Rating and Sovereign
Sustainability Rating proportional to the relative weight of
the (long only) corporate and sovereign positions, rounded
to the nearest whole number. Sovereign Historical
Sustainability Scores and Corporate Historical
Sustainability Scores are ranked and rated separately, to
represent the ESG risk of the portfolio relative to its peers
for its respective corporate and sovereign positions, and
then combined by their relative weights for the Portfolio
Sustainability Rating.
*      1)  is an
asset-weighted average of Sustainalytics' company-level
ESG Risk Score. The Sustainalytics' company-level ESG
Risk Score measures the degree to which a company's
economic value may be at risk driven by ESG factors.
*  "   1)  is an
asset-weighted average of Sustainalytics' Country Risk
Score. The Sustainalytics' Country Risk Score measures
the risk to a country's long-term prosperity and economic
development by assessing its wealth and its ability to
managing its wealth sustainably.
The Corporate and Sovereign Sustainability Score is
rendered on a 0-100 scale, where lower scores are better,
using an asset-weighted average of all covered securities.
Morningstar determines whether each eligible portfolio
holding can be classified under the corporate or sovereign
framework.
Operations
.++ -  -"+ The smallest investment
amount accepted by the product to establish a new
account.
.++ $  -"+ The amount required to
make subsequent investments in the product.
.++     The smallest amount that can be
taken out of the product at one time.
!1 ,') The number of times per year a
fund intends to distribute for the life of the offer document.