PAGE 1
000 A000000 02/29/96
000 C000000 853183
000 D000000 N
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000 F000000 Y
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000 J000000 A
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001 C000000 3055277591
002 A000000 500 EAST BROWARD BLVD, SUITE 2100
002 B000000 FORT LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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008 B000001 A
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008 D010001 LYFORD CAY
008 D050001 BAHAMAS
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010 C040001 3091
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011 B000001 8-5889
011 C010001 ST. PETERSBURG
011 C020001 FL
011 C030001 33701
011 C040001 3628
012 A000001 FRANKLIN TEMPLETON INVESTMENT SERVICES, INC.
PAGE 2
012 B000001 84-00000
012 C010001 ST. PETERSBURG
012 C020001 FL
012 C030001 33701
012 C040001 3628
013 A000001 MC GLADREY & PULLEN, LLP.
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
013 B040001 2416
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015 B000001 C
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015 C020001 NY
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015 E010001 X
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015 B000002 S
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015 E040002 X
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PAGE 3
015 E040007 X
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PAGE 4
015 E040016 X
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015 A000018 THE CHASE MANHATTAN BANK, N.A.
015 B000018 S
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015 E040018 X
015 A000019 CITIBANK BUDAPEST RT.
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015 E040023 X
015 A000024 THE CHASE MANHATTAN BANK, N.A.
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015 A000025 THE CHASE MANHATTAN BANK, N.A.
015 B000025 S
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PAGE 5
015 D020025 50250
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015 A000026 HONGKONG AND SHANGHAI BANKING CORP. LTD
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PAGE 6
015 E040034 X
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PAGE 7
015 A000044 SKANDINAVISKA ENSKILDA BANKEN
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PAGE 8
015 C010053 LONDON
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PAGE 9
020 A000003 W.I. CARR (AMERICA) LTD
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PAGE 10
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PAGE 11
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PAGE 12
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PAGE 13
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PAGE 14
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PAGE 15
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SIGNATURE/s/ JAMES R. BAIO
TITLE TREASURER
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THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON REAL ESTATE SECURITIES FUND FEBRUARY 29, 1996 SEMI-ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
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<SERIES>
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<NAME> TEMPLETON REAL ESTATE SECURITIES FUND
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FORM THE
TEMPLETON REAL ESTATE SECURITIES FUND FEBRUARY 29, 1996 SEMI-ANNUAL
REPORT AND IS QUALIFIED IN ITS ENTIRETY TO SUCH FINANCAIL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 002
<NAME> TEMPLETON REAL ESTATE SECURITIES FUND
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