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028 C020500 0
028 C030500 0
028 C040500 127
028 D010500 3
028 D020500 6
028 D030500 0
028 D040500 180
028 E010500 3
028 E020500 3
028 E030500 0
028 E040500 46
028 F010500 5
028 F020500 4
<PAGE> PAGE 21
028 F030500 0
028 F040500 501
028 G010500 16
028 G020500 19
028 G030500 0
028 G040500 1064
028 H000500 0
037 000500 N
038 000500 0
039 000500 N
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
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
055 A000500 N
055 B000500 N
056 000500 N
057 000500 N
058 A000500 N
059 000500 Y
<PAGE> PAGE 22
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
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
<PAGE> PAGE 23
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 145
071 B000500 1184
071 C000500 3112
071 D000500 39
072 A000500 6
072 B000500 0
072 C000500 87
072 D000500 0
072 E000500 0
072 F000500 0
072 G000500 1
072 H000500 0
072 I000500 0
072 J000500 0
072 K000500 0
072 L000500 0
072 M000500 0
072 N000500 2
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 7
072 Y000500 0
072 Z000500 80
072AA000500 0
072BB000500 58
<PAGE> PAGE 24
072CC010500 27
072CC020500 0
072DD010500 80
072DD020500 0
072EE000500 0
073 A010500 0.2430
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 2433
074 G000500 0
074 H000500 0
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074 K000500 0
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074 M000500 3
074 N000500 2436
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
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074 R040500 0
074 S000500 0
074 T000500 2436
074 U010500 263
074 U020500 0
074 V010500 9.25
074 V020500 0.00
074 W000500 0.0000
074 X000500 39
074 Y000500 0
075 A000500 0
075 B000500 3150
076 000500 0.00
010 A000601 FRANKLIN ADVISERS, INC.
010 B000601 801-26292
010 C010601 SAN MATEO
010 C020601 CA
010 C030601 94404
010 C040601 1585
015 A000601 BANK OF NEW YORK
015 B000601 C
015 C010601 NEW YORK
<PAGE> PAGE 25
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 4
028 A030600 0
028 A040600 0
028 B010600 0
028 B020600 4
028 B030600 0
028 B040600 0
028 C010600 0
028 C020600 4
028 C030600 0
028 C040600 35
028 D010600 0
028 D020600 1
028 D030600 0
028 D040600 649
028 E010600 0
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028 F010600 0
028 F020600 0
028 F030600 0
028 F040600 319
028 G010600 0
028 G020600 13
028 G030600 0
028 G040600 1003
028 H000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 N
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
<PAGE> PAGE 26
043 000600 0
044 000600 0
045 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
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
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<PAGE> PAGE 27
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
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
<PAGE> PAGE 28
071 A000600 21
071 B000600 1014
071 C000600 658
071 D000600 76
072 A000600 6
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072 C000600 19
072 D000600 0
072 E000600 1
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072AA000600 10
072BB000600 2
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072DD010600 19
072DD020600 0
072EE000600 0
073 A010600 0.2450
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 0
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074 D000600 0
074 E000600 0
074 F000600 0
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074 H000600 0
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<PAGE> PAGE 29
074 K000600 0
074 L000600 0
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074 O000600 0
074 P000600 0
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 0
074 S000600 0
074 T000600 0
074 U010600 0
074 U020600 0
074 V010600 0.00
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075 A000600 0
075 B000600 0
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 3540
028 A020700 47
028 A030700 0
028 A040700 8267
028 B010700 1058
028 B020700 49
028 B030700 0
028 B040700 802
028 C010700 1439
028 C020700 12
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028 C040700 5053
028 D010700 1241
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028 D030700 0
<PAGE> PAGE 30
028 D040700 590
028 E010700 150
028 E020700 12
028 E030700 0
028 E040700 9058
028 F010700 0
028 F020700 0
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028 G020700 189
028 G030700 0
028 G040700 23770
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037 000700 N
038 000700 0
039 000700 N
040 000700 Y
041 000700 Y
042 A000700 0
042 B000700 0
042 C000700 100
042 D000700 0
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 13
044 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.150
048 A010700 0
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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
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048 G010700 0
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048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
<PAGE> PAGE 31
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 Y
054 E000700 Y
054 F000700 Y
054 G000700 Y
054 H000700 Y
054 I000700 N
054 J000700 Y
054 K000700 Y
054 L000700 Y
054 M000700 Y
054 N000700 Y
054 O000700 Y
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 100000
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
<PAGE> PAGE 32
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
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
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 N
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 N
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
<PAGE> PAGE 33
072 A000700 6
072 B000700 239
072 C000700 0
072 D000700 0
072 E000700 0
072 F000700 7
072 G000700 0
072 H000700 0
072 I000700 0
072 J000700 0
072 K000700 0
072 L000700 0
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072 N000700 4
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072 S000700 1
072 T000700 13
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072 X000700 30
072 Y000700 10
072 Z000700 219
072AA000700 1
072BB000700 0
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072CC020700 0
072DD010700 220
072DD020700 0
072EE000700 0
073 A010700 0.0190
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
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074 D000700 0
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 0
074 M000700 0
074 N000700 0
<PAGE> PAGE 34
074 O000700 0
074 P000700 0
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074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 0
074 S000700 0
074 T000700 0
074 U010700 0
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074 W000700 0.0000
074 X000700 0
074 Y000700 0
075 A000700 0
075 B000700 0
076 000700 0.00
010 A000901 FRANKLIN ADVISERS, INC.
010 B000901 801-26292
010 C010901 SAN MATEO
010 C020901 CA
010 C030901 94404
010 C040901 1585
015 A000901 BANK OF NEW YORK
015 B000901 C
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 20510
028 A020900 511
028 A030900 0
028 A040900 18442
028 B010900 25285
028 B020900 526
028 B030900 0
028 B040900 17992
028 C010900 20881
028 C020900 16
028 C030900 0
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028 D010900 38928
<PAGE> PAGE 35
028 D020900 1086
028 D030900 0
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028 E010900 20940
028 E020900 559
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028 E040900 42346
028 F010900 25036
028 F020900 495
028 F030900 0
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028 G010900 151580
028 G020900 3193
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028 H000900 0
037 000900 N
038 000900 0
039 000900 N
040 000900 Y
041 000900 Y
042 A000900 0
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042 C000900 100
042 D000900 0
042 E000900 0
042 F000900 0
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043 000900 171
044 000900 0
045 000900 N
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048 F010900 0
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048 H020900 0.000
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<PAGE> PAGE 36
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
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 100000
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062 B000900 0.0
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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
<PAGE> PAGE 37
070 D020900 N
070 E010900 N
070 E020900 N
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 3636
072 D000900 0
072 E000900 0
072 F000900 0
072 G000900 171
072 H000900 0
072 I000900 61
072 J000900 1
072 K000900 3
072 L000900 1
072 M000900 3
072 N000900 10
072 O000900 0
072 P000900 0
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072 R000900 3
<PAGE> PAGE 38
072 S000900 0
072 T000900 171
072 U000900 0
072 V000900 0
072 W000900 0
072 X000900 424
072 Y000900 0
072 Z000900 3212
072AA000900 0
072BB000900 0
072CC010900 0
072CC020900 0
072DD010900 3212
072DD020900 0
072EE000900 0
073 A010900 0.0240
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 128722
074 G000900 0
074 H000900 0
074 I000900 0
074 J000900 0
074 K000900 0
074 L000900 14034
074 M000900 0
074 N000900 142756
074 O000900 0
074 P000900 102
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 969
074 S000900 0
074 T000900 141685
074 U010900 141685
074 U020900 0
074 V010900 1.00
074 V020900 0.00
074 W000900 1.0000
074 X000900 806
074 Y000900 0
075 A000900 136021
075 B000900 0
<PAGE> PAGE 39
076 000900 0.00
075 A003600 0
075 B003600 0
076 003600 0.00
SIGNATURE KIMBERLEY MONASTERIO
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1998 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-30-1999
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 206,805,583
<INVESTMENTS-AT-VALUE> 206,805,583
<RECEIVABLES> 1,589,690
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 208,395,273
<PAYABLE-FOR-SECURITIES> 1,360,142
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 305,172
<TOTAL-LIABILITIES> 1,665,314
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 206,729,959
<SHARES-COMMON-STOCK> 206,729,959
<SHARES-COMMON-PRIOR> 175,881,369
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 206,729,959
<DIVIDEND-INCOME> 5,885,647
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (110,141)
<NET-INVESTMENT-INCOME> 5,775,506
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,775,506
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,775,506)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 929,022,690
<NUMBER-OF-SHARES-REDEEMED> (902,446,621)
<SHARES-REINVESTED> 4,272,521
<NET-CHANGE-IN-ASSETS> 30,848,590
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (109,679)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (156,336)
<AVERAGE-NET-ASSETS> 221,128,106
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .026
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.026)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .250<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED; THE EXPENSE RATIO INCLUDES THE FUND'S SHARE OF THE
PORTFOLIO'S ALLOCATED EXPENSES. RATIO OF EXPENSES EXCLUDING WAIVER
AND PAYMENTS BY AFFILIATE AMOUNTED TO 0.300%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1998
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-30-1999
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 139,387,867
<INVESTMENTS-AT-VALUE> 139,387,867
<RECEIVABLES> 142,262
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 139,530,129
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 202,287
<TOTAL-LIABILITIES> 202,287
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 139,327,842
<SHARES-COMMON-STOCK> 139,327,842
<SHARES-COMMON-PRIOR> 131,150,923
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 139,327,842
<DIVIDEND-INCOME> 3,716,333
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (75,584)
<NET-INVESTMENT-INCOME> 3,640,749
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,640,749
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,640,749)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 418,502,728
<NUMBER-OF-SHARES-REDEEMED> (412,929,562)
<SHARES-REINVESTED> 2,603,753
<NET-CHANGE-IN-ASSETS> 8,176,919
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (75,596)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (112,418)
<AVERAGE-NET-ASSETS> 146,128,116
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.025
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.025)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .250<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
<FN>
<F1>ANNUALIZED; THE EXPENSE RATIO INCLUDES THE FUND'S SHARE OF THE
PORTFOLIO'S ALLOCATED EXPENSES. RATIO OF EXPENSES EXCLUDING WAIVER
AND PAYMENTS BY AFFILIATE AMOUNTED TO 0.310%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1998 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-30-1999
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 66,744,501
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 852,539
<OTHER-INCOME> 0
<EXPENSES-NET> (33,639)
<NET-INVESTMENT-INCOME> 818,900
<REALIZED-GAINS-CURRENT> 8,279
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 827,179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (827,179)<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,629,062
<NUMBER-OF-SHARES-REDEEMED> (85,847,694)
<SHARES-REINVESTED> 474,131
<NET-CHANGE-IN-ASSETS> (66,744,501)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (41,000)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (66,118)
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.019
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.019)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0<F2>
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
<FN>
<F1>DISTRIBUTIONS WERE INCREASED BY NET REALIZED GAINS FROM SECURITY
TRANSACTIONS OF $8,279.
<F2>THE FUND WAS LIQUIDATED ON NOVEMBER 19, 1998.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1998 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-30-1999
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 2,430,914
<INVESTMENTS-AT-VALUE> 2,432,610
<RECEIVABLES> 0
<ASSETS-OTHER> 3,062
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,435,672
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 120
<TOTAL-LIABILITIES> 120
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 33,056,807
<SHARES-COMMON-STOCK> 263,336
<SHARES-COMMON-PRIOR> 374,099
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (30,622,951)
<ACCUM-APPREC-OR-DEPREC> 1,696
<NET-ASSETS> 2,435,552
<DIVIDEND-INCOME> 87,421
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (7,852)
<NET-INVESTMENT-INCOME> 79,569
<REALIZED-GAINS-CURRENT> (58,497)
<APPREC-INCREASE-CURRENT> 26,644
<NET-CHANGE-FROM-OPS> 47,716
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (79,569)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,713
<NUMBER-OF-SHARES-REDEEMED> (114,467)
<SHARES-REINVESTED> 1,991
<NET-CHANGE-IN-ASSETS> (1,061,858)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (30,564,454)
<GROSS-ADVISORY-FEES> (794)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (7,852)
<AVERAGE-NET-ASSETS> 3,149,647
<PER-SHARE-NAV-BEGIN> 9.350
<PER-SHARE-NII> .243
<PER-SHARE-GAIN-APPREC> (.100)
<PER-SHARE-DIVIDEND> (.243)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.250
<EXPENSE-RATIO> .930<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1> ANNUALIZED; THE EXPENSE RATIO INCLUDES THE FUND'S SHARE OF THE
PORTFOLIO'S ALLOCATED EXPENSES.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1998 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-30-1999
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 99,514
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 20,104
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (1,152)
<NET-INVESTMENT-INCOME> 18,952
<REALIZED-GAINS-CURRENT> 8,316
<APPREC-INCREASE-CURRENT> (7,274)
<NET-CHANGE-FROM-OPS> 19,994
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (18,952)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (100,785)
<SHARES-REINVESTED> 1,271
<NET-CHANGE-IN-ASSETS> (989,460)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (2,044,895)
<GROSS-ADVISORY-FEES> (167)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,152)
<AVERAGE-NET-ASSETS> 751,063
<PER-SHARE-NAV-BEGIN> 9.940
<PER-SHARE-NII> .160
<PER-SHARE-GAIN-APPREC> (.020)
<PER-SHARE-DIVIDEND> (.160)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 0.000 <F1>
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>THE FUND WAS LIQUIDATED ON DECEMBER 10, 1998.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1998 SEMIANNUAL 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-30-1999
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 16,152,651
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 238,850
<OTHER-INCOME> 0
<EXPENSES-NET> (20,137)
<NET-INVESTMENT-INCOME> 218,713
<REALIZED-GAINS-CURRENT> 525
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 219,238
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (219,238) <F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,428,129
<NUMBER-OF-SHARES-REDEEMED> (23,769,998)
<SHARES-REINVESTED> 189,218
<NET-CHANGE-IN-ASSETS> (16,152,651)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (6,674)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (30,163)
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .019
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.019)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> .000 <F2>
<EXPENSE-RATIO> .000
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1> DISTRIBUTIONS WERE INCREASED BY A NET REALIZED GAINS FROM
SECURITY TRANSACTIONS OF $525.
<F2> THE FUND WAS LIQUIDATED ON NOVEMBER 19, 1998.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INSTITUTIONAL FIDUCIARY TRUST DECEMBER 31, 1998 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-30-1999
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 128,722,090
<INVESTMENTS-AT-VALUE> 128,722,090
<RECEIVABLES> 14,034,245
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 142,756,335
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,071,101
<TOTAL-LIABILITIES> 1,071,101
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 141,685,234
<SHARES-COMMON-STOCK> 141,685,234
<SHARES-COMMON-PRIOR> 119,584,583
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 141,685,234
<DIVIDEND-INCOME> 3,636,198
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (424,317)
<NET-INVESTMENT-INCOME> 3,211,881
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,211,881
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,211,881)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 151,579,571
<NUMBER-OF-SHARES-REDEEMED> (132,672,355)
<SHARES-REINVESTED> 3,193,435
<NET-CHANGE-IN-ASSETS> 22,100,651
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (171,418)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (424,317)
<AVERAGE-NET-ASSETS> 136,020,878
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.024
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.024)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.770<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
<FN>
<F1>ANNUALIZED; THE EXPENSE RATIO INCLUDES THE FUND'S SHARE OF THE PORTFOLIO'S
ALLOCATED EXPENSES. RATIO OF EXPENSES EXCLUDING WAIVER AND PAYMENTS BY AFFILIATE
AMOUNTED TO 0.78%.
</FN>
</TABLE>
