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<PAGE> PAGE 6
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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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 16
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<PAGE> PAGE 17
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<PAGE> PAGE 19
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015 B000307 S
015 C010307 HAMILTON
015 D010307 BERMUDA
015 E040307 X
015 A000308 THE CANADA TRUST COMPANY
015 B000308 S
015 C010308 TORONTO
015 D010308 CANADA
015 E040308 X
015 A000309 HONG KONG & SHANGHAI BANK
015 B000309 S
015 C010309 SHANGHAI
015 D010309 CHINA
015 E040309 X
015 A000310 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000310 S
015 C010310 SANTA FE DE BOGOTA
015 D010310 COLOMBIA
015 E040310 X
015 A000311 UNIBANK A/S
015 B000311 S
015 C010311 COPENHAGEN
015 D010311 DENMARK
015 E040311 X
015 A000312 KANSALLIS-OSAKE-PANKKI
015 B000312 S
015 C010312 HELSINKI
015 D010312 FINLAND
015 E040312 X
015 A000313 SOCIETE GENERALE; SICOVAM (DEPOSITORY)
015 B000313 S
015 C010313 PARIS
015 D010313 FRANCE
015 E040313 X
015 A000314 BERLINER HANDELS-UND FRANKFURTER BANK
015 B000314 S
015 C010314 FRANKFURT
015 D010314 GERMANY
015 E040314 X
015 A000315 NATIONAL BANK OF GREECE
015 B000315 S
<PAGE> PAGE 20
015 C010315 ATHENS
015 D010315 GREECE
015 E040315 X
015 A000316 BARCLAYS BANK PLC
015 B000316 S
015 C010316 HONG KONG
015 D010316 HONG KONG
015 E040316 X
015 A000317 STANDARD CHARTERED BANK
015 B000317 S
015 C010317 FORT BOMBAY
015 D010317 INDIA
015 E040317 X
015 A000318 HONG KONG AND SHANGHAI BANK
015 B000318 S
015 C010318 JAKARTA
015 D010318 INDONESIA
015 E040318 X
015 A000319 BANK OF IRELAND
015 B000319 S
015 C010319 DUBLIN
015 D010319 IRELAND
015 E040319 X
015 A000320 CITIBANK, N.A.
015 B000320 S
015 C010320 MILAN
015 D010320 ITALY
015 E040320 X
015 A000321 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B000321 S
015 C010321 TOKYO
015 D010321 JAPAN
015 E040321 X
015 A000322 HONG KONG AND SHANGHAI BANK
015 B000322 S
015 C010322 SEOUL
015 D010322 KOREA
015 E040322 X
015 A000323 CEDEL S.A. (DEPOSITORY)
015 B000323 S
015 C010323 LUXEMBOURG
015 D010323 LUXEMBOURG
015 E040323 X
015 A000324 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B000324 S
015 C010324 KUALA LUMPUR
015 D010324 MALAYSIA
015 E040324 X
015 A000325 BANCO NACIONAL DEL MEXICO
015 B000325 S
015 C010325 MEXICO CITY
<PAGE> PAGE 21
015 D010325 MEXICO
015 E040325 X
015 A000326 KAS-ASSOCIATE N.V.
015 B000326 S
015 C010326 AMSTERDAM
015 D010326 NETHERLANDS
015 E040326 X
015 A000327 ANZ BANKING GROUP, LTD.
015 B000327 S
015 C010327 WELLINGTON
015 D010327 NEW ZEALAND
015 E040327 X
015 A000328 CHRISTIANA BANK OG KREDITKASSE
015 B000328 S
015 C010328 OSLO
015 D010328 NORWAY
015 E040328 X
015 A000329 STANDARD CHARTERED BANK
015 B000329 S
015 C010329 KARACHI
015 D010329 PAKISTAN
015 E040329 X
015 A000330 BANCO DE CREDITO DEL PERU
015 B000330 S
015 C010330 LIMA
015 D010330 PERU
015 E040330 X
015 A000331 HONG KONG AND SHANGHAI BANK
015 B000331 S
015 C010331 MAKATI
015 D010331 PHILIPPINES
015 E040331 X
015 A000332 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B000332 S
015 C010332 LISBON
015 D010332 PORTUGAL
015 E040332 X
015 A000333 BARCLAYS BANK PLC
015 B000333 S
015 C010333 SINGAPORE
015 D010333 SINGAPORE
015 E040333 X
015 A000334 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000334 S
015 C010334 JOHANNESBURG
015 D010334 SOUTH AFRICA
015 E040334 X
015 A000335 BANCO DE SANTANDER
015 B000335 S
015 C010335 MADRID
015 D010335 SPAIN
<PAGE> PAGE 22
015 E040335 X
015 A000336 HONG KONG AND SHANGHAI BANK
015 B000336 S
015 C010336 COLOMBO
015 D010336 SRI LANKA
015 E040336 X
015 A000337 SKANDINAVISKA ENSKILDA BANKEN
015 B000337 S
015 C010337 STOCKHOLM
015 D010337 SWEDEN
015 E040337 X
015 A000338 SWISS BANK CORPORATION
015 B000338 S
015 C010338 ZURICH
015 D010338 SWITZERLAND
015 E040338 X
015 A000339 BANGKOK BANK LTD.
015 B000339 S
015 C010339 BANGKOK
015 D010339 THAILAND
015 E040339 X
015 A000340 YAPI VE KREDI BANKASI A.S.
015 B000340 S
015 C010340 ISTANBUL
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015 E040340 X
015 A000341 BANK OF AMERICA NT & SA
015 B000341 S
015 C010341 LONDON
015 D010341 UNITED KINGDOM
015 E040341 X
015 A000342 CITIBANK DELAWARE
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015 C040342 2409
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015 A000343 HONG KONG AND SHANGHAI BANK
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015 C010343 SHENZHEN
015 D010343 CHINA
015 E040343 X
015 A000344 BANK LEUMI LE-ISRAEL, B.M.
015 B000344 S
015 C010344 TEL AVIV
015 D010344 ISRAEL
015 E040344 X
015 A000345 CITIBANK, N.A.
015 B000345 S
015 C010345 CARACAS
<PAGE> PAGE 23
015 D010345 VENEZUELA
015 E040345 X
028 A010300 333
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034 000300 N
035 000300 0
036 B000300 0
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038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
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042 B000300 26
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<PAGE> PAGE 24
042 E000300 0
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046 000300 N
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053 C000300 N
055 A000300 N
055 B000300 N
056 000300 N
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 N
060 B000300 N
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<PAGE> PAGE 25
062 D000300 0.0
062 E000300 0.0
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066 C000300 Y
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070 B020300 N
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070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
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070 O020300 N
<PAGE> PAGE 26
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
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071 C000300 6187
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<PAGE> PAGE 27
074 E000300 0
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008 A000401 FRANKLIN ADVISERS, INC.
008 B000401 A
008 C000401 801-26292
008 D010401 SAN MATEO
008 D020401 CA
008 D030401 94403
008 D040401 7777
015 A000401 BANK OF AMERICA NT & SA
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015 C040401 1502
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015 A000402 CREDITANSTALT-BANKVEREIN
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015 D010402 AUSTRIA
015 E040402 X
015 A000403 NATIONAL AUSTRALIA BANK LTD.
015 B000403 S
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<PAGE> PAGE 28
015 D010403 AUSTRALIA
015 E040403 X
015 A000404 CITIBANK, N.A.
015 B000404 S
015 C010404 BUENOS AIRES
015 D010404 ARGENTINA
015 E040404 X
015 A000405 STANDARD CHARTERED BANK
015 B000405 S
015 C010405 DHAKA
015 D010405 BANGLADESH
015 E040405 X
015 A000406 BANQUE BRUXELLES LAMBERT S.A.
015 B000406 S
015 C010406 BRUSSELS
015 D010406 BELGIUM
015 E040406 X
015 A000407 THE BANK OF N.T. BUTTERFIELD & SON LTD
015 B000407 S
015 C010407 HAMILTON
015 D010407 BERMUDA
015 E040407 X
015 A000408 THE CANADA TRUST COMPANY
015 B000408 S
015 C010408 TORONTO
015 D010408 CANADA
015 E040408 X
015 A000409 HONG KONG & SHANGHAI BANK
015 B000409 S
015 C010409 SHANGHAI
015 D010409 CHINA
015 E040409 X
015 A000410 HONG KONG & SHANGHAI BANK
015 B000410 S
015 C010410 SHENZHEN
015 D010410 CHINA
015 E040410 X
015 A000411 CITITRUST COLOMBIA S.A SOCIEDAD FIDUCIARIA
015 B000411 S
015 C010411 SANTA FE DE BOGOTA
015 D010411 COLOMBIA
015 E040411 X
015 A000412 UNIBANK A/S
015 B000412 S
015 C010412 COPENHAGEN
015 D010412 DENMARK
015 E040412 X
015 A000413 KANSALLIS-OSAKE-PANKKI
015 B000413 S
015 C010413 HELSINKI
015 D010413 FINLAND
<PAGE> PAGE 29
015 E040413 X
015 A000414 SOCIETE GENERALE;SICOVAM (DEPOSITORY)
015 B000414 S
015 C010414 PARIS
015 D010414 FRANCE
015 E040414 X
015 A000415 BERLINER HANDELS-UND FRANKFURTER BANK
015 B000415 S
015 C010415 FRANKFURT
015 D010415 GERMANY
015 E040415 X
015 A000416 NATIONAL BANK OF GREECE
015 B000416 S
015 C010416 ATHENS
015 D010416 GREECE
015 E040416 X
015 A000417 BARCLAYS BANK PLC
015 B000417 S
015 C010417 HONG KONG
015 D010417 HONG KONG
015 E040417 X
015 A000418 STANDARD CHARTERED BANK
015 B000418 S
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015 D010418 INDIA
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015 A000419 HONG KONG AND SHANGHAI BANK
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015 D010419 INDONESIA
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015 B000421 S
015 C010421 MILAN
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015 E040421 X
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<PAGE> PAGE 30
015 A000424 CEDEL S. A (DEPOSITORY)
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015 C010424 LUXEMBOURG
015 D010424 LUXEMBOURG
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015 A000425 UNITED MALAYSIAN BANKING CORPORATION BERHAD
015 B000425 S
015 C010425 KUALA LUMPUR
015 D010425 MALAYSIA
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015 A000434 BARCLAYS BANK PLC
<PAGE> PAGE 31
015 B000434 S
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015 E040434 X
015 A000435 STANDARD BANK OF SOUTH AFRICA LIMITED
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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008 A000501 FRANKLIN INSTITUTIONAL SERVICES CORPORATION
008 B000501 A
008 C000501 801-40142
008 D010501 SAN MATEO
008 D020501 CA
008 D030501 94404
008 D040501 1585
008 A000502 TEMPLETON QUANTITATIVE ADVISORS, INC.
<PAGE> PAGE 37
008 B000502 S
008 C000502 801-37423
008 D010502 NEW YORK
008 D020502 NY
008 D030502 10019
015 A000501 BANK OF AMERICA NT & SA
015 B000501 C
015 C010501 SAN FRANCISCO
015 C020501 CA
015 C030501 94104
015 C040501 1502
015 E010501 X
015 A000502 CITIBANK DELAWARE
015 B000502 S
015 C010502 NEW CASTLE
015 C020502 DE
015 C030502 19720
015 C040502 2409
015 E010502 X
028 A010500 0
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<PAGE> PAGE 38
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
034 000500 N
035 000500 0
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 N
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042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
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045 000500 Y
046 000500 N
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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
<PAGE> PAGE 39
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 100000
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 G000500 Y
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
<PAGE> PAGE 40
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 N
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 4365
071 B000500 4081
071 C000500 4914
071 D000500 83
072 A000500 6
072 B000500 3
072 C000500 56
072 D000500 0
072 E000500 0
072 F000500 0
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072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 2
072 S000500 0
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072 U000500 0
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<PAGE> PAGE 41
072 X000500 5
072 Y000500 5
072 Z000500 59
072AA000500 303
072BB000500 351
072CC010500 135
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072DD020500 0
072EE000500 8
073 A010500 0.1340
073 A020500 0.0000
073 B000500 0.0150
073 C000500 0.0000
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074 B000500 21
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 5164
074 G000500 0
074 H000500 0
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074 K000500 0
074 L000500 9
074 M000500 0
074 N000500 5450
074 O000500 225
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 0
074 S000500 0
074 T000500 5225
074 U010500 514
074 U020500 0
074 V010500 10.17
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076 000500 0.00
008 A000601 FRANKLIN ADVISERS, INC.
008 B000601 A
008 C000601 801-26292
008 D010601 SAN MATEO
<PAGE> PAGE 42
008 D020601 CA
008 D030601 94403
008 D040601 7777
015 A000601 BANK OF AMERICA NT & SA
015 B000601 C
015 C010601 SAN FRANCISCO
015 C020601 CA
015 C030601 94104
015 C040601 1502
015 E010601 X
028 A010600 0
028 A020600 0
028 A030600 0
028 A040600 0
028 B010600 0
028 B020600 0
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028 B040600 0
028 C010600 0
028 C020600 0
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028 G040600 0
028 H000600 0
029 000600 N
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031 A000600 0
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032 000600 0
033 000600 0
034 000600 N
035 000600 0
036 B000600 0
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<PAGE> PAGE 43
038 000600 0
039 000600 N
040 000600 Y
041 000600 N
042 A000600 0
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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
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048 F020600 0.000
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048 G020600 0.000
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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
055 A000600 N
055 B000600 N
056 000600 N
057 000600 N
058 A000600 N
059 000600 Y
<PAGE> PAGE 44
060 A000600 Y
060 B000600 Y
061 000600 100
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
066 A000600 Y
066 D000600 Y
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 N
<PAGE> PAGE 45
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 0
071 B000600 0
071 C000600 60
071 D000600 0
072 A000600 6
072 B000600 0
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 0
072 G000600 0
072 H000600 0
072 I000600 0
072 J000600 0
072 K000600 0
072 L000600 0
072 M000600 0
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 0
072 S000600 0
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 0
072 X000600 0
072 Y000600 0
072 Z000600 0
072AA000600 0
072BB000600 0
072CC010600 0
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 0
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<PAGE> PAGE 46
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 0
074 D000600 0
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074 F000600 60
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 0
074 M000600 0
074 N000600 60
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 60
074 U010600 6000
074 U020600 0
074 V010600 10.00
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008 A000701 FRANKLIN ADVISERS, INC.
008 B000701 A
008 C000701 801-26292
008 D010701 SAN MATEO
008 D020701 CA
008 D030701 94403
008 D040701 7777
008 A000702 TEMPLETON INVESTMENT COUNSEL, INC.
008 B000702 S
008 C000702 801-15125
008 D010702 FT. LAUDERDALE
008 D020702 FL
008 D030702 33394
008 D040702 3091
015 A000701 BANK OF AMERICA NT & SA
015 B000701 C
<PAGE> PAGE 47
015 C010701 SAN FRANCISCO
015 C020701 CA
015 C030701 94104
015 C040701 1502
015 E010701 X
015 A000702 CITIBANK, N.A.
015 B000702 S
015 C010702 BUENOS AIRES
015 D010702 ARGENTINA
015 E040702 X
015 A000703 NATIONAL AUSTRALIA BANK LTD.
015 B000703 S
015 C010703 MELBOURNE
015 D010703 AUSTRALIA
015 E040703 X
015 A000704 CREDITANSTALT BANKVEREIN
015 B000704 S
015 C010704 VIENNA
015 D010704 AUSTRIA
015 E040704 X
015 A000705 STANDARD CHARTERED BANK
015 B000705 S
015 C010705 DHAKA
015 D010705 BANGLADESH
015 E040705 X
015 A000706 BANQUE BRUXELLES LAMBERT S.A.
015 B000706 S
015 C010706 BRUSSELS
015 D010706 BELGIUM
015 E040706 X
015 A000707 THE BANK OF N.T. BUTTERFIELD & SON LIMITED
015 B000707 S
015 C010707 HAMILTON
015 D010707 BERMUDA
015 E040707 X
015 A000708 THE CANADA TRUST COMPANY
015 B000708 S
015 C010708 TORONTO
015 D010708 CANADA
015 E040708 X
015 A000709 HONG KONG & SHANGHAI BANK
015 B000709 S
015 C010709 SHANGHAI
015 D010709 CHINA
015 E040709 X
015 A000710 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000710 S
015 C010710 SANTA FE DE BOGOTA
015 D010710 COLOMBIA
015 E040710 X
015 A000711 UNIBANK A/S
<PAGE> PAGE 48
015 B000711 S
015 C010711 COPENHAGEN
015 D010711 DENMARK
015 E040711 X
015 A000712 KANSALLIS-OSAKE-PANKKI
015 B000712 S
015 C010712 HELSINKI
015 D010712 FINLAND
015 E040712 X
015 A000713 SOCIETE GENERALE; SICOVAM (DEPOSITORY)
015 B000713 S
015 C010713 PARIS
015 D010713 FRANCE
015 E040713 X
015 A000714 BERLINER HANDELS - UND FRANKFURTER BANK
015 B000714 S
015 C010714 FRANKFURT
015 D010714 GERMANY
015 E040714 X
015 A000715 NATIONAL BANK OF GREECE
015 B000715 S
015 C010715 ATHENS
015 D010715 GREECE
015 E040715 X
015 A000716 BARCLAYS BANK PLC
015 B000716 S
015 C010716 HONG KONG
015 D010716 HONG KONG
015 E040716 X
015 A000717 STANDARD CHARTERED BANK
015 B000717 S
015 C010717 FORT BOMBAY
015 D010717 INDIA
015 E040717 X
015 A000718 HONG KONG & SHANGHAI BANK
015 B000718 S
015 C010718 JAKARTA
015 D010718 INDONESIA
015 E040718 X
015 A000719 BANK OF IRELAND
015 B000719 S
015 C010719 DUBLIN
015 D010719 IRELAND
015 E040719 X
015 A000720 CITIBANK N.A.
015 B000720 S
015 C010720 MILAN
015 D010720 ITALY
015 E040720 X
015 A000721 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B000721 S
<PAGE> PAGE 49
015 C010721 TOKYO
015 D010721 JAPAN
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015 A000722 HONG KONG & SHANGHAI BANK
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015 C010722 SEOUL
015 D010722 KOREA
015 E040722 X
015 A000723 CEDEL S.A. (DEPOSITORY)
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015 D010723 LUXEMBOURG
015 E040723 X
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015 C010724 KUALA LUMPUR
015 D010724 MALAYSIA
015 E040724 X
015 A000725 BANCO NACIONAL DE MEXICO
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015 D010725 MEXICO
015 E040725 X
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015 D010726 NETHERLANDS
015 E040726 X
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015 B000727 S
015 C010727 WELLINGTON
015 D010727 NEW ZEALAND
015 E040727 X
015 A000728 CHRISTINA BANK OG KREDITKASSE
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015 C010728 OSLO
015 D010728 NORWAY
015 E040728 X
015 A000729 STANDARD CHARTERED BANK
015 B000729 S
015 C010729 KARACHI
015 D010729 PAKISTAN
015 E040729 X
015 A000730 BANCO DE CREDITO DEL PERU
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015 C010730 LIMA
015 D010730 PERU
015 E040730 X
015 A000731 HONG KONG & SHANGHAI BANK
015 B000731 S
015 C010731 MAKATI
<PAGE> PAGE 50
015 D010731 PHILIPPINES
015 E040731 X
015 A000732 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B000732 S
015 C010732 LISBON
015 D010732 PORTUGAL
015 E040732 X
015 A000733 BARCLAYS BANK PLC
015 B000733 S
015 C010733 SINGAPORE
015 D010733 SINGAPORE
015 E040733 X
015 A000734 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000734 S
015 C010734 JOHANNESBURG
015 D010734 SOUTH AFRICA
015 E040734 X
015 A000735 BANCO DE SANTANDER
015 B000735 S
015 C010735 MADRID
015 D010735 SPAIN
015 E040735 X
015 A000736 HONG KONG & SHANGHAI BANK
015 B000736 S
015 C010736 COLOMBO
015 D010736 SRI LANKA
015 E040736 X
015 A000737 SKANDINAVISKA ENSKILDA BANKEN
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015 C010737 STOCKHOLM
015 D010737 SWEDEN
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015 A000738 SWISS BANK CORPORATION
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<PAGE> PAGE 51
015 E040741 X
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<PAGE> PAGE 52
028 H000700 5314
029 000700 Y
030 A000700 8
030 B000700 4.25
030 C000700 0.25
031 A000700 0
031 B000700 0
032 000700 8
033 000700 0
034 000700 N
035 000700 0
036 B000700 0
037 000700 N
038 000700 0
039 000700 N
040 000700 Y
041 000700 Y
042 A000700 18
042 B000700 21
042 C000700 32
042 D000700 29
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 6
044 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.000
048 A010700 100000
048 A020700 0.625
048 B010700 150000
048 B020700 0.500
048 C010700 9750000
048 C020700 0.450
048 D010700 2500000
048 D020700 0.440
048 E010700 2500000
048 E020700 0.420
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
<PAGE> PAGE 53
048 K010700 15000000
048 K020700 0.400
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 Y
053 B000700 Y
055 A000700 Y
055 B000700 N
056 000700 N
057 000700 N
058 A000700 N
059 000700 Y
060 A000700 N
060 B000700 N
061 000700 100
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 25.0
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 6.6
062 M000700 4.6
062 N000700 5.1
062 O000700 0.0
062 P000700 40.2
062 Q000700 13.7
062 R000700 4.8
063 A000700 0
063 B000700 5.4
064 A000700 N
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 Y
<PAGE> PAGE 54
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 Y
070 M010700 Y
070 M020700 Y
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 7045
071 B000700 2987
071 C000700 3503
071 D000700 85
072 A000700 6
072 B000700 153
072 C000700 5
072 D000700 0
072 E000700 0
072 F000700 0
072 G000700 0
072 H000700 0
072 I000700 0
072 J000700 0
072 K000700 0
072 L000700 0
072 M000700 0
072 N000700 0
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 3
<PAGE> PAGE 55
072 S000700 0
072 T000700 6
072 U000700 0
072 V000700 0
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072 X000700 9
072 Y000700 4
072 Z000700 153
072AA000700 33
072BB000700 39
072CC010700 0
072CC020700 14
072DD010700 35
072DD020700 0
072EE000700 0
073 A010700 0.0670
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 18
074 B000700 1352
074 C000700 359
074 D000700 3437
074 E000700 258
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 423
074 K000700 0
074 L000700 87
074 M000700 6
074 N000700 5940
074 O000700 523
074 P000700 6
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 3
074 S000700 0
074 T000700 5408
074 U010700 531
074 U020700 0
074 V010700 10.19
074 V020700 0.00
074 W000700 0.0000
074 X000700 46
074 Y000700 417
075 A000700 0
075 B000700 5147
<PAGE> PAGE 56
076 000700 0.00
SIGNATURE KENNETH V. DOMINGUES
TITLE VP,TREAS.,CFO & CAO
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN STRATEGIC SERIES OCTOBER 31, 1994 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> FRANKLIN CALIFORNIA GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 5,032,531
<INVESTMENTS-AT-VALUE> 5,781,836
<RECEIVABLES> 1,538,711
<ASSETS-OTHER> 39,289
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7,359,836
<PAYABLE-FOR-SECURITIES> 317,568
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40,831
<TOTAL-LIABILITIES> 358,399
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,919,771
<SHARES-COMMON-STOCK> 547,607
<SHARES-COMMON-PRIOR> 385,542
<ACCUMULATED-NII-CURRENT> 26,486
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 305,875
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 749,305
<NET-ASSETS> 7,001,437
<DIVIDEND-INCOME> 24,968
<INTEREST-INCOME> 18,491
<OTHER-INCOME> 0
<EXPENSES-NET> (6,972)
<NET-INVESTMENT-INCOME> 36,487
<REALIZED-GAINS-CURRENT> 306,434
<APPREC-INCREASE-CURRENT> 367,568
<NET-CHANGE-FROM-OPS> 710,489
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (22,522)
<DISTRIBUTIONS-OF-GAINS> (243,646)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 165,210
<NUMBER-OF-SHARES-REDEEMED> 25,885
<SHARES-REINVESTED> 22,740
<NET-CHANGE-IN-ASSETS> 2,355,730
<ACCUMULATED-NII-PRIOR> 12,521
<ACCUMULATED-GAINS-PRIOR> 243,087
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (40,536)
<AVERAGE-NET-ASSETS> 5,587,265
<PER-SHARE-NAV-BEGIN> 12.05
<PER-SHARE-NII> .07
<PER-SHARE-GAIN-APPREC> 1.32
<PER-SHARE-DIVIDEND> (.055)
<PER-SHARE-DISTRIBUTIONS> (.595)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.79
<EXPENSE-RATIO> .25
<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
FRANKLIN STRATEGIC SERIES OCTOBER 31, 1994 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> FRANKLIN SMALL CAP GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 30,277,215
<INVESTMENTS-AT-VALUE> 32,901,974
<RECEIVABLES> 4,669,825
<ASSETS-OTHER> 87,325
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 37,659,124
<PAYABLE-FOR-SECURITIES> 1,761,842
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 54,545
<TOTAL-LIABILITIES> 1,816,387
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 31,958,738
<SHARES-COMMON-STOCK> 2,627,319
<SHARES-COMMON-PRIOR> 1,875,106
<ACCUMULATED-NII-CURRENT> 27,140
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,232,100
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,624,759
<NET-ASSETS> 35,842,737
<DIVIDEND-INCOME> 59,535
<INTEREST-INCOME> 66,035
<OTHER-INCOME> 0
<EXPENSES-NET> (81,308)
<NET-INVESTMENT-INCOME> 44,262
<REALIZED-GAINS-CURRENT> 1,233,622
<APPREC-INCREASE-CURRENT> 2,472,725
<NET-CHANGE-FROM-OPS> 3,750,609
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (24,802)
<DISTRIBUTIONS-OF-GAINS> (1,186,478)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,683,233
<NUMBER-OF-SHARES-REDEEMED> (1,016,231)
<SHARES-REINVESTED> 85,211
<NET-CHANGE-IN-ASSETS> 11,927,646
<ACCUMULATED-NII-PRIOR> 7,680
<ACCUMULATED-GAINS-PRIOR> 1,184,956
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (15,233)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (81,308)
<AVERAGE-NET-ASSETS> 27,854,836
<PER-SHARE-NAV-BEGIN> 12.75
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 1.456
<PER-SHARE-DIVIDEND> (0.012)
<PER-SHARE-DISTRIBUTIONS> (0.574)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.64
<EXPENSE-RATIO> 0.58
<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 FRANKLIN STRATEGIC SERIES OCTOBER 31, 1994 SEMI-ANNUAL
REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> FRANKLIN GLOBAL HEALTH CARE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 7,040,958
<INVESTMENTS-AT-VALUE> 8,071,753
<RECEIVABLES> 1,328,008
<ASSETS-OTHER> 202,591
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,602,352
<PAYABLE-FOR-SECURITIES> 392,448
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 32,010
<TOTAL-LIABILITIES> 424,458
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,749,443
<SHARES-COMMON-STOCK> 775,028
<SHARES-COMMON-PRIOR> 555,714
<ACCUMULATED-NII-CURRENT> 20,460
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 377,953
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,030,038
<NET-ASSETS> 9,177,894
<DIVIDEND-INCOME> 15,060
<INTEREST-INCOME> 19,247
<OTHER-INCOME> 0
<EXPENSES-NET> (8,309)
<NET-INVESTMENT-INCOME> 25,998
<REALIZED-GAINS-CURRENT> 383,840
<APPREC-INCREASE-CURRENT> 627,363
<NET-CHANGE-FROM-OPS> 1,037,201
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,378)
<DISTRIBUTIONS-OF-GAINS> (87,823)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 380,764
<NUMBER-OF-SHARES-REDEEMED> 170,778
<SHARES-REINVESTED> 9,328
<NET-CHANGE-IN-ASSETS> 3,382,798
<ACCUMULATED-NII-PRIOR> 6,840
<ACCUMULATED-GAINS-PRIOR> 81,936
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (19,185)
<AVERAGE-NET-ASSETS> 6,801,781
<PER-SHARE-NAV-BEGIN> 10.430
<PER-SHARE-NII> .040
<PER-SHARE-GAIN-APPREC> 1.540
<PER-SHARE-DIVIDEND> (.021)
<PER-SHARE-DISTRIBUTIONS> (.149)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.840
<EXPENSE-RATIO> .240
<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
FRANKLIN STRATEGIC SERIES OCTOBER 31, 1994 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> FRANKLIN GLOBAL UTILITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 113,344,976
<INVESTMENTS-AT-VALUE> 110,534,172
<RECEIVABLES> 17,135,641
<ASSETS-OTHER> 79,662
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 127,749,475
<PAYABLE-FOR-SECURITIES> 147,542
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 319,337
<TOTAL-LIABILITIES> 466,879
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 128,542,475
<SHARES-COMMON-STOCK> 10,321,541
<SHARES-COMMON-PRIOR> 9,859,052
<ACCUMULATED-NII-CURRENT> 1,199,229
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 351,695
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,810,803)
<NET-ASSETS> 127,282,596
<DIVIDEND-INCOME> 2,368,480
<INTEREST-INCOME> 320,684
<OTHER-INCOME> 0
<EXPENSES-NET> (684,335)
<NET-INVESTMENT-INCOME> 2,004,829
<REALIZED-GAINS-CURRENT> 362,133
<APPREC-INCREASE-CURRENT> 235,456
<NET-CHANGE-FROM-OPS> 2,602,418
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,744,653)
<DISTRIBUTIONS-OF-GAINS> (3,335,908)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,680,192
<NUMBER-OF-SHARES-REDEEMED> (1,579,506)
<SHARES-REINVESTED> 361,803
<NET-CHANGE-IN-ASSETS> 3,094,517
<ACCUMULATED-NII-PRIOR> 939,053
<ACCUMULATED-GAINS-PRIOR> 3,325,470
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (376,876)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (684,335)
<AVERAGE-NET-ASSETS> 125,741,256
<PER-SHARE-NAV-BEGIN> 12.60
<PER-SHARE-NII> 0.190
<PER-SHARE-GAIN-APPREC> 0.044
<PER-SHARE-DIVIDEND> (0.173)
<PER-SHARE-DISTRIBUTIONS> (0.331)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.33
<EXPENSE-RATIO> 1.09
<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 FRANKLIN STRATEGIC SERIES OCTOBER 31, 1994 SEMI-ANNUAL
REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> FRANKLIN INSTITUTIONAL MIDCAP GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 5,051,314
<INVESTMENTS-AT-VALUE> 5,164,330
<RECEIVABLES> 270,453
<ASSETS-OTHER> 14,905
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,449,688
<PAYABLE-FOR-SECURITIES> 224,563
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 224,563
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,132,435
<SHARES-COMMON-STOCK> 513,618
<SHARES-COMMON-PRIOR> 505,604
<ACCUMULATED-NII-CURRENT> 28,039
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (48,365)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 113,016
<NET-ASSETS> 5,225,125
<DIVIDEND-INCOME> 55,726
<INTEREST-INCOME> 3,578
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 59,304
<REALIZED-GAINS-CURRENT> (48,098)
<APPREC-INCREASE-CURRENT> 134,979
<NET-CHANGE-FROM-OPS> 146,185
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (67,751)
<DISTRIBUTIONS-OF-GAINS> (7,584)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 8,014
<NET-CHANGE-IN-ASSETS> 146,185
<ACCUMULATED-NII-PRIOR> 36,486
<ACCUMULATED-GAINS-PRIOR> 7,317
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (5,103)
<AVERAGE-NET-ASSETS> 5,045,651
<PER-SHARE-NAV-BEGIN> 10.050
<PER-SHARE-NII> .120
<PER-SHARE-GAIN-APPREC> .149
<PER-SHARE-DIVIDEND> (.134)
<PER-SHARE-DISTRIBUTIONS> (.015)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.170
<EXPENSE-RATIO> 0
<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
FRANKLIN STRATEGIC SERIES OCTOBER 31, 1994 FINANCIAL STATEMENTS AND IS
QUALIFIED ITS ENTIRETY BY REFERENCE TO SUCH STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> FRANKLIN MIDCAP GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 60,000
<INVESTMENTS-AT-VALUE> 60,000
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 60,000
<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> 6,000
<SHARES-COMMON-PRIOR> 6,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 60,000
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 60,000
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.00
<EXPENSE-RATIO> 0
<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 FRANKLIN STRATEGIC SERIES
OCTOBER 31, 1994 SEMI-ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> FRANKLIN STATEGIC INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-START> MAY-24-1994
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 4,067,666
<INVESTMENTS-AT-VALUE> 4,053,739
<RECEIVABLES> 1,862,187
<ASSETS-OTHER> 23,883
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,939,809
<PAYABLE-FOR-SECURITIES> 522,582
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,417
<TOTAL-LIABILITIES> 531,999
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,310,095
<SHARES-COMMON-STOCK> 530,569
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 117,832
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6,564)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (13,553)
<NET-ASSETS> 5,407,810
<DIVIDEND-INCOME> 4,531
<INTEREST-INCOME> 153,422
<OTHER-INCOME> 0
<EXPENSES-NET> (5,328)
<NET-INVESTMENT-INCOME> 152,625
<REALIZED-GAINS-CURRENT> (6,564)
<APPREC-INCREASE-CURRENT> (13,553)
<NET-CHANGE-FROM-OPS> 132,508
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (34,793)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 530,949
<NUMBER-OF-SHARES-REDEEMED> 3,746
<SHARES-REINVESTED> 3,366
<NET-CHANGE-IN-ASSETS> 5,407,810
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (9,714)
<AVERAGE-NET-ASSETS> 5,146,709
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .29
<PER-SHARE-GAIN-APPREC> (.033)
<PER-SHARE-DIVIDEND> (.067)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.19
<EXPENSE-RATIO> .25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
