40-42NAV
SUPPLEMENT DATED MAY 31, 1996
TO THE PROSPECTUS OF
MONEY MARKET PORTFOLIO
FRANKLIN U.S. GOVERNMENT SECURITIES MONEY MARKET PORTFOLIO
Institutional Fiduciary Trust
Dated November 1, 1995
Effective June 3, 1996, the computation of net asset value for shares of the
Franklin U.S. Government Securities Portfolio (the "U.S. Securities Fund") for
purposes of determining the offering and redemption prices will be at 3:00 p.m.
Pacific time. The Money Market Portfolio (the "Money Fund") will continue to
compute its net asset value at 1:00 p.m. Pacific time. The following amends the
sections of the prospectus discussing the timing of transactions to reflect the
new policy:
I. "How to Buy Shares of The Fund - 1. By Wire"
"Requests to begin a wire order process for the U.S. Securities Fund must be
made not later than 1:30 p.m. Pacific time and by 11:15 a.m. Pacific time for
the Money Fund. Trades placed by the above deadlines will receive same day
credit so long as funds are received in accordance with paragraph (b). In order
to maximize efficient fund management, investors requesting a same day purchase
of any size are urged to place orders as early in the day as possible. Prior
business day notification of such trade may be required. Requests to begin a
wire order after the cut off time for each Fund will not be in proper form for
that day's purchase and will receive credit on the next business day.
II. "Valuation of Shares of the Fund"
"The net asset value of the shares is computed each day that the New York Stock
Exchange is open for trading. The computation is done at 3:00 p.m. Pacific time
for the U.S. Securities Fund and 12:30 p.m. Pacific time for the Money Fund."
III. "How to Sell Shares of the Funds - 1. By Telephone with Payment to a
Preauthorized Account"
"A payment may be transmitted by wire the same business day where a request is
received as to the U.S. Securities Fund prior to 1:30 p.m. Pacific time and as
to the Money Fund prior to 11:15 a.m. Pacific time that day. A shareholder who
anticipates requesting a same day wire redemption in excess of $5 million
should notify the Fund on the prior business day of the intention to request
such a redemption. In order to maximize efficient fund management, investors
requesting a same day wire redemption of any size are urged to place orders as
early in the day as possible. Prior business day notification of such trade may
be required. Otherwise, payments will be transmitted by wire on the business
day following receipt of a request received after the above deadlines."
IV. "Exchange Privilege"
"(a) From a Fund into any other series of the Trust. The exchange will be
effected at net asset value next computed after the exchange request is
received prior to 1:30 p.m. Pacific time with respect to the U.S. Securities
Fund and 11:15 a.m. Pacific time with respect to the Money Fund, with payment
for the purchased shares processed on the following business day when the funds
are made available from the Fund."
