Franklin Euro High Yield Fund

The Fund promotes environmental and social characteristics in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (the “SFDR”). 
 
In its implementation of the Fund’s environmental, social and governance (“ESG”) strategy, the Investment Managers avoid investment in issuers that are lagging in the transition to support a low-carbon economy. In addition, the Fund commits to have an ESG score at Fund level higher than the ESG score of the investment universe.  
 
The Fund’s environmental or social characteristics are assessed both quantitatively and qualitatively, by means of sustainability indicators as well as of the Investment Managers’ proprietary ESG ratings system and its research and engagement process further described in the Website disclosure’s dedicated sections. As part of its investment decision making process, the Fund’s ESG strategy also uses binding criteria for the selection of underlying assets and applies specific ESG exclusions.  
 
Finally, the Fund has a minimum allocation of 6% of its portfolio to sustainable investments. The Fund ensures that its sustainable investments do not cause significant harm to any environmental or social sustainable investment objective. 

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