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<PAGE> PAGE 9
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 18
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074 R040400 120
074 S000400 0
074 T000400 58414
074 U010400 58414
074 U020400 0
<PAGE> PAGE 21
074 V010400 1.00
074 V020400 0.00
074 W000400 1.0002
074 X000400 119
074 Y000400 0
075 A000400 52261
075 B000400 0
076 000400 0.00
015 A000501 BANK OF NEW YORK
015 B000501 C
015 C010501 NEW YORK
015 C020501 NY
015 C030501 10286
015 E010501 X
015 A000502 FRANKLIN TEMPLETON INVESTOR SERVICES INC.
015 B000502 C
015 C010502 SAN MATEO
015 C020502 CA
015 C030502 94404
015 C040502 1585
015 E030502 X
028 A010500 0
028 A020500 5
028 A030500 0
028 A040500 152
028 B010500 2
028 B020500 5
028 B030500 0
028 B040500 734
028 C010500 0
028 C020500 4
028 C030500 0
028 C040500 111
028 D010500 3
028 D020500 5
028 D030500 0
028 D040500 216
028 E010500 3
028 E020500 5
028 E030500 0
028 E040500 1005
028 F010500 5
028 F020500 3
028 F030500 0
028 F040500 118
028 G010500 13
028 G020500 27
028 G030500 0
028 G040500 2336
028 H000500 0
037 000500 N
<PAGE> PAGE 22
038 000500 0
039 000500 Y
040 000500 N
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 N
048 000500 0.000
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 N
054 A000500 Y
054 B000500 Y
054 C000500 Y
054 D000500 N
054 E000500 N
054 F000500 N
054 G000500 Y
<PAGE> PAGE 23
054 H000500 Y
054 I000500 N
054 J000500 Y
054 K000500 N
054 L000500 Y
054 M000500 Y
054 N000500 N
054 O000500 N
055 A000500 N
055 B000500 N
056 000500 N
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000000
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 N
066 F000500 Y
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 N
070 A020500 N
070 B010500 N
<PAGE> PAGE 24
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 311
071 B000500 2603
071 C000500 6396
071 D000500 5
072 A000500 6
072 B000500 0
072 C000500 198
072 D000500 0
072 E000500 0
072 F000500 0
072 G000500 2
072 H000500 0
072 I000500 1
072 J000500 0
072 K000500 0
072 L000500 0
072 M000500 0
072 N000500 2
<PAGE> PAGE 25
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 1
072 S000500 0
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 3
072 X000500 9
072 Y000500 0
072 Z000500 189
072AA000500 0
072BB000500 158
072CC010500 181
072CC020500 0
072DD010500 189
072DD020500 0
072EE000500 0
073 A010500 0.2780
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 1
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 5201
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 0
074 M000500 2
074 N000500 5204
074 O000500 0
074 P000500 1
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 5
074 S000500 0
074 T000500 5198
074 U010500 554
074 U020500 0
074 V010500 9.39
074 V020500 0.00
074 W000500 0.0000
<PAGE> PAGE 26
074 X000500 35
074 Y000500 0
075 A000500 0
075 B000500 6382
076 000500 0.00
015 A000601 BANK OF NEW YORK
015 B000601 C
015 C010601 NEW YORK
015 C020601 NY
015 C030601 10286
015 E010601 X
015 A000602 FRANKLIN TEMPLETON INVESTOR SERVICES INC.
015 B000602 C
015 C010602 SAN MATEO
015 C020602 CA
015 C030602 94404
015 C040602 1585
015 E030602 X
028 A010600 0
028 A020600 5
028 A030600 0
028 A040600 20
028 B010600 0
028 B020600 4
028 B030600 0
028 B040600 1743
028 C010600 60
028 C020600 5
028 C030600 0
028 C040600 1778
028 D010600 34
028 D020600 6
028 D030600 0
028 D040600 26
028 E010600 0
028 E020600 5
028 E030600 0
028 E040600 30
028 F010600 0
028 F020600 6
028 F030600 0
028 F040600 0
028 G010600 94
028 G020600 31
028 G030600 0
028 G040600 3597
028 H000600 0
037 000600 N
038 000600 0
039 000600 Y
040 000600 N
<PAGE> PAGE 27
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 0
044 000600 0
045 000600 Y
046 000600 N
047 000600 N
048 000600 0.000
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 N
054 A000600 Y
054 B000600 Y
054 C000600 Y
054 D000600 N
054 E000600 N
054 F000600 N
054 G000600 Y
054 H000600 Y
054 I000600 N
054 J000600 Y
<PAGE> PAGE 28
054 K000600 N
054 L000600 Y
054 M000600 Y
054 N000600 N
054 O000600 N
055 A000600 N
055 B000600 N
056 000600 N
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 1000000
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
066 A000600 Y
066 B000600 N
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 Y
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 N
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
<PAGE> PAGE 29
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 189
071 B000600 3681
071 C000600 2541
071 D000600 7
072 A000600 6
072 B000600 0
072 C000600 80
072 D000600 0
072 E000600 0
072 F000600 0
072 G000600 1
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072 I000600 0
072 J000600 0
072 K000600 0
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<PAGE> PAGE 30
072 R000600 1
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072 U000600 0
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072 X000600 2
072 Y000600 0
072 Z000600 78
072AA000600 0
072BB000600 34
072CC010600 47
072CC020600 0
072DD010600 78
072DD020600 0
072EE000600 0
073 A010600 0.3190
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 0
074 D000600 0
074 E000600 0
074 F000600 1301
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 0
074 M000600 0
074 N000600 1301
074 O000600 0
074 P000600 0
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074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 5
074 S000600 0
074 T000600 1296
074 U010600 130
074 U020600 0
074 V010600 9.93
074 V020600 0.00
074 W000600 0.0000
074 X000600 4
074 Y000600 0
075 A000600 0
<PAGE> PAGE 31
075 B000600 2486
076 000600 0.00
008 A000701 FRANKLIN ADVISERS, INC.
008 B000701 A
008 C000701 801-26292
008 D010701 SAN MATEO
008 D020701 CA
008 D030701 94404
008 D040701 1585
015 A000701 BANK OF NEW YORK
015 B000701 C
015 C010701 NEW YORK
015 C020701 NY
015 C030701 10286
015 E010701 X
028 A010700 26836
028 A020700 447
028 A030700 0
028 A040700 26662
028 B010700 34430
028 B020700 501
028 B030700 0
028 B040700 20657
028 C010700 27945
028 C020700 494
028 C030700 0
028 C040700 24357
028 D010700 52099
028 D020700 559
028 D030700 0
028 D040700 46434
028 E010700 27653
028 E020700 565
028 E030700 0
028 E040700 26730
028 F010700 50602
028 F020700 615
028 F030700 0
028 F040700 56943
028 G010700 219565
028 G020700 3181
028 G030700 0
028 G040700 201783
028 H000700 0
037 000700 N
038 000700 0
039 000700 Y
040 000700 Y
041 000700 Y
042 A000700 0
042 B000700 0
<PAGE> PAGE 32
042 C000700 100
042 D000700 0
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 213
044 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.150
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 Y
053 B000700 Y
053 C000700 N
054 A000700 Y
054 B000700 Y
054 C000700 Y
054 D000700 N
054 E000700 N
054 F000700 N
054 G000700 Y
054 H000700 Y
054 I000700 N
054 J000700 Y
<PAGE> PAGE 33
054 K000700 N
054 L000700 Y
054 M000700 Y
054 N000700 N
054 O000700 N
055 A000700 N
055 B000700 N
056 000700 N
057 000700 N
058 A000700 N
059 000700 Y
060 A000700 Y
060 B000700 Y
061 000700 0
062 A000700 Y
062 B000700 0.3
062 C000700 99.8
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
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062 J000700 0.0
062 K000700 0.0
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062 M000700 0.0
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062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 35
063 B000700 0.0
064 A000700 N
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 N
070 A020700 N
070 B010700 N
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 N
070 E020700 N
<PAGE> PAGE 34
070 F010700 N
070 F020700 N
070 G010700 N
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 N
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 0
071 B000700 0
071 C000700 0
071 D000700 0
072 A000700 6
072 B000700 4299
072 C000700 0
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072 E000700 0
072 F000700 117
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072 I000700 1
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072 K000700 2
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072 M000700 3
072 N000700 6
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<PAGE> PAGE 35
072 V000700 0
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072DD010700 3947
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073 A010700 0.0260
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074 A000700 68
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074 C000700 155486
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074 N000700 155554
074 O000700 0
074 P000700 102
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074 S000700 0
074 T000700 155324
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075 A000700 154242
075 B000700 0
076 000700 0.00
015 A000901 BANK OF NEW YORK
015 B000901 C
<PAGE> PAGE 36
015 C010901 NEW YORK
015 C020901 NY
015 C030901 10286
015 E010901 X
015 A000902 FRANKLIN TEMPLETON INVESTOR SERVICES INC.
015 B000902 C
015 C010902 SAN MATEO
015 C020902 CA
015 C030902 94404
015 C040902 1585
015 E030902 X
028 A010900 42379
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028 A040900 18609
028 B010900 17659
028 B020900 404
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028 B040900 36129
028 C010900 16664
028 C020900 375
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028 C040900 12723
028 D010900 36203
028 D020900 422
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028 D040900 20617
028 E010900 23541
028 E020900 441
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028 F010900 24448
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<PAGE> PAGE 37
042 G000900 0
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043 000900 114
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048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 Y
053 B000900 Y
053 C000900 N
054 A000900 Y
054 B000900 Y
054 C000900 Y
054 D000900 N
054 E000900 N
054 F000900 N
054 G000900 Y
054 H000900 Y
054 I000900 N
054 J000900 Y
054 K000900 N
054 L000900 Y
054 M000900 Y
054 N000900 N
<PAGE> PAGE 38
054 O000900 N
055 A000900 N
055 B000900 N
056 000900 N
057 000900 N
058 A000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
061 000900 1000
062 A000900 N
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 0.0
066 A000900 Y
066 B000900 N
066 C000900 N
066 D000900 N
066 E000900 N
066 F000900 Y
066 G000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 N
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
<PAGE> PAGE 39
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 N
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 0
071 B000900 0
071 C000900 0
071 D000900 0
072 A000900 6
072 B000900 0
072 C000900 2710
072 D000900 0
072 E000900 0
072 F000900 0
072 G000900 123
072 H000900 0
072 I000900 4
072 J000900 0
072 K000900 2
072 L000900 1
072 M000900 1
072 N000900 6
072 O000900 0
072 P000900 0
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072 R000900 3
072 S000900 0
072 T000900 127
072 U000900 0
<PAGE> PAGE 40
072 V000900 0
072 W000900 28
072 X000900 295
072 Y000900 123
072 Z000900 2538
072AA000900 0
072BB000900 0
072CC010900 0
072CC020900 0
072DD010900 2538
072DD020900 0
072EE000900 0
073 A010900 0.0260
073 A020900 0.0000
073 B000900 0.0000
073 C000900 0.0000
074 A000900 0
074 B000900 0
074 C000900 0
074 D000900 0
074 E000900 0
074 F000900 101330
074 G000900 0
074 H000900 0
074 I000900 0
074 J000900 0
074 K000900 0
074 L000900 97
074 M000900 0
074 N000900 101427
074 O000900 80
074 P000900 13
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 164
074 S000900 0
074 T000900 101170
074 U010900 101170
074 U020900 0
074 V010900 1.00
074 V020900 0.00
074 W000900 0.9999
074 X000900 511
074 Y000900 0
075 A000900 97669
075 B000900 0
076 000900 0.00
SIGNATURE LAURA FERGERSON
TITLE ASST TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1997 SEMI-ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 192,790,791
<INVESTMENTS-AT-VALUE> 192,790,791
<RECEIVABLES> 5,165,275
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 197,956,066
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,183,190
<TOTAL-LIABILITIES> 5,183,190
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 192,772,876
<SHARES-COMMON-STOCK> 192,772,876
<SHARES-COMMON-PRIOR> 185,088,159
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 192,772,876
<DIVIDEND-INCOME> 5,645,054
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (51,336)
<NET-INVESTMENT-INCOME> 5,593,718
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,593,718
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,593,718)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,022,172,778
<NUMBER-OF-SHARES-REDEEMED> (1,018,014,385)
<SHARES-REINVESTED> 3,526,324
<NET-CHANGE-IN-ASSETS> 7,684,717
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 51,269
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 87,314
<AVERAGE-NET-ASSETS> 203,645,202
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.027
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.027)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.200
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1997 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 117,534,517
<INVESTMENTS-AT-VALUE> 117,534,517
<RECEIVABLES> 257,698
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 117,792,215
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 300,984
<TOTAL-LIABILITIES> 300,984
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 117,491,231
<SHARES-COMMON-STOCK> 117,491,231
<SHARES-COMMON-PRIOR> 136,704,663
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 117,491,231
<DIVIDEND-INCOME> 3,536,823
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (32,791)
<NET-INVESTMENT-INCOME> 3,504,032
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,504,032
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,504,032)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 638,586,119
<NUMBER-OF-SHARES-REDEEMED> (659,857,363)
<SHARES-REINVESTED> 2,057,812
<NET-CHANGE-IN-ASSETS> (19,213,432)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 32,712
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 67,864
<AVERAGE-NET-ASSETS> 130,092,675
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.027
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.027)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .200
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1997 SEMI-ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> FRANKLIN U.S. TREASURY MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 58,156,134
<INVESTMENTS-AT-VALUE> 58,156,134
<RECEIVABLES> 377,651
<ASSETS-OTHER> 12,186
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 58,545,971
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 132,132
<TOTAL-LIABILITIES> 132,132
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 58,413,839
<SHARES-COMMON-STOCK> 58,413,839
<SHARES-COMMON-PRIOR> 68,815,101
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 58,413,839
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,363,107
<OTHER-INCOME> 0
<EXPENSES-NET> (52,694)
<NET-INVESTMENT-INCOME> 1,310,413
<REALIZED-GAINS-CURRENT> 3,469
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1,313,882
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,313,882)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 116,982,145
<NUMBER-OF-SHARES-REDEEMED> (128,010,481)
<SHARES-REINVESTED> 627,074
<NET-CHANGE-IN-ASSETS> (10,401,262)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 65,870
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 92,735
<AVERAGE-NET-ASSETS> 52,261,340
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.025
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.025)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.200
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1997 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> FRANKLIN INST. ADJUSTABLE U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 5,277,643
<INVESTMENTS-AT-VALUE> 5,201,077
<RECEIVABLES> 0
<ASSETS-OTHER> 2,560
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,203,637
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,369
<TOTAL-LIABILITIES> 5,369
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35,768,412
<SHARES-COMMON-STOCK> 553,645
<SHARES-COMMON-PRIOR> 798,274
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (30,493,578)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (76,566)
<NET-ASSETS> 5,198,268
<DIVIDEND-INCOME> 198,225
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (9,306)
<NET-INVESTMENT-INCOME> 188,919
<REALIZED-GAINS-CURRENT> (158,175)
<APPREC-INCREASE-CURRENT> 180,575
<NET-CHANGE-FROM-OPS> 211,319
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (188,919)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,362
<NUMBER-OF-SHARES-REDEEMED> (248,899)
<SHARES-REINVESTED> 2,908
<NET-CHANGE-IN-ASSETS> (2,273,215)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (30,335,403)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,609
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,306
<AVERAGE-NET-ASSETS> 6,382,216
<PER-SHARE-NAV-BEGIN> 9.360
<PER-SHARE-NII> .278
<PER-SHARE-GAIN-APPREC> .030
<PER-SHARE-DIVIDEND> (.278)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.390
<EXPENSE-RATIO> .540
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1997 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> FRANKLIN INSTITUTIONAL ADJUSTABLE RATE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,297,708
<INVESTMENTS-AT-VALUE> 1,300,606
<RECEIVABLES> 0
<ASSETS-OTHER> 64
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,300,670
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,065
<TOTAL-LIABILITIES> 5,065
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,334,708
<SHARES-COMMON-STOCK> 130,445
<SHARES-COMMON-PRIOR> 478,842
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,042,001)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,898
<NET-ASSETS> 1,295,605
<DIVIDEND-INCOME> 80,096
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (1,599)
<NET-INVESTMENT-INCOME> 78,497
<REALIZED-GAINS-CURRENT> (33,943)
<APPREC-INCREASE-CURRENT> 47,403
<NET-CHANGE-FROM-OPS> 91,957
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (78,497)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,502
<NUMBER-OF-SHARES-REDEEMED> (360,980)
<SHARES-REINVESTED> 3,081
<NET-CHANGE-IN-ASSETS> (3,458,335)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2,008,058)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 627
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,599
<AVERAGE-NET-ASSETS> 2,485,579
<PER-SHARE-NAV-BEGIN> 9.930
<PER-SHARE-NII> 0.319
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.319)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.930
<EXPENSE-RATIO> 0.370
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1997 SEMI-ANNUAL
REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> FRANKLIN U.S. GOVERNMENT AGENCY MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 155,486,464
<INVESTMENTS-AT-VALUE> 155,486,464
<RECEIVABLES> 0
<ASSETS-OTHER> 67,548
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 155,554,012
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 229,671
<TOTAL-LIABILITIES> 229,671
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 155,324,341
<SHARES-COMMON-STOCK> 155,324,341
<SHARES-COMMON-PRIOR> 134,361,712
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 155,324,341
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,298,732
<OTHER-INCOME> 0
<EXPENSES-NET> (349,896)
<NET-INVESTMENT-INCOME> 3,948,836
<REALIZED-GAINS-CURRENT> (2,005)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,946,831
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,946,831)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 219,565,264
<NUMBER-OF-SHARES-REDEEMED> (201,783,457)
<SHARES-REINVESTED> 3,180,822
<NET-CHANGE-IN-ASSETS> 20,962,629
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 116,616
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 390,898
<AVERAGE-NET-ASSETS> 154,241,748
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.026
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.026)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.045
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1997 SEMI-ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 9
<NAME> FRANKLIN CASH RESERVES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 101,329,704
<INVESTMENTS-AT-VALUE> 101,329,704
<RECEIVABLES> 96,927
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 101,426,631
<PAYABLE-FOR-SECURITIES> 80,234
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 175,959
<TOTAL-LIABILITIES> 256,193
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 101,170,438
<SHARES-COMMON-STOCK> 101,170,438
<SHARES-COMMON-PRIOR> 76,510,217
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 101,170,438
<DIVIDEND-INCOME> 2,710,084
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (172,391)
<NET-INVESTMENT-INCOME> 2,537,693
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,537,693
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,537,693)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 160,894,341
<NUMBER-OF-SHARES-REDEEMED> (138,752,481)
<SHARES-REINVESTED> 2,518,361
<NET-CHANGE-IN-ASSETS> 24,660,221
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 122,987
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 295,378
<AVERAGE-NET-ASSETS> 97,668,513
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.026
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.026)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.500
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
