<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
STRATEGIC SERIES APRIL 30, 2000 ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 071
<NAME> FRANKLIN STRATEGIC INCOME FUND - CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 350,764,055
<INVESTMENTS-AT-VALUE> 323,627,751
<RECEIVABLES> 8,461,392
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 332,089,143
<PAYABLE-FOR-SECURITIES> 827,006
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,680,176
<TOTAL-LIABILITIES> 2,507,182
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 361,923,492
<SHARES-COMMON-STOCK> 25,854,865
<SHARES-COMMON-PRIOR> 22,844,778
<ACCUMULATED-NII-CURRENT> 1,805,621
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (7,084,147)
<ACCUM-APPREC-OR-DEPREC> (27,214,949)
<NET-ASSETS> 329,430,017
<DIVIDEND-INCOME> 1,701,679
<INTEREST-INCOME> 26,923,586
<OTHER-INCOME> 0
<EXPENSES-NET> (2,604,483)
<NET-INVESTMENT-INCOME> 26,020,782
<REALIZED-GAINS-CURRENT> (5,082,590)
<APPREC-INCREASE-CURRENT> (25,489,414)
<NET-CHANGE-FROM-OPS> (4,551,222)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,681,821)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,821,314
<NUMBER-OF-SHARES-REDEEMED> (12,086,386)
<SHARES-REINVESTED> 1,275,159
<NET-CHANGE-IN-ASSETS> 41,482,442
<ACCUMULATED-NII-PRIOR> 761,552
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (1,925,585)
<GROSS-ADVISORY-FEES> (1,677,419)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,385,524)
<AVERAGE-NET-ASSETS> 322,915,091
<PER-SHARE-NAV-BEGIN> 10.840
<PER-SHARE-NII> .820
<PER-SHARE-GAIN-APPREC> (1.020)
<PER-SHARE-DIVIDEND> (.800)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.840
<EXPENSE-RATIO> .750
<FN>
</FN>
</TABLE>
