The fund-of-funds seeks to provide long-term capital appreciation through an actively managed portfolio of equity securities from around the globe. It primarily holds exchange-traded funds that are managed by Franklin Templeton or its affiliates. The fund may also invest up to 10% of its net assets in other mutual funds that are not managed by the issuer or invest directly in stocks and bonds. The portfolio generally allocates 90-100% to equities and 0-10% to debt securities. The funds asset allocation may change over time at the portfolio advisors discretion based on its current and long-term outlook for each asset class. From time to time, the fund may seek to hedge some or all of its exposure to changes in currency exchange rates, use derivatives for hedging and non-hedging purposes, enter into securities lending and repurchase agreements, engage in short-selling, and enter temporary defensive positions.