SUPPLEMENT TO THE PROSPECTUS
Prospectus dated March 14, 1994
(as previously supplemented on April 19, 1994, June 1, 1994,
June 27, 1994, September 14, 1994, February 1, 1995, and March 1, 1995)
Templeton Global Rising Dividends Fund
On February 24, 1995, the Fund's Board of Trustees approved a change to the name
and investment objective of the Fund, subject to approval by a majority of the
Fund's issued and outstanding shares (as defined in the Investment Company Act
of 1940, as amended). Under the proposal, the Fund's investment objective will
be changed from capital appreciation to a combination of income and capital
appreciation (see below). Additionally, it is proposed that the Fund's name be
changed to "Templeton Growth and Income Fund" to reflect the change in invest-
ment objective. A meeting of the Fund's shareholders is tentatively sche-
duled for May 4, 1995, to approve or disapprove the change to the Fund's
investment objective and name. Prior to the meeting, a Proxy Statement and
Notice of Meeting with accompanying proxy will be mailed to the Fund's
shareholders. If approved by shareholders, the proposed changes will be
implemented upon the completion of regulatory filings which is expected to be
during the third quarter of 1995.
ANY INVESTMENTS MADE IN THE FUND PRIOR TO SHAREHOLDER APPROVAL WILL BE AFFECTED
BY THE PROPOSED CHANGE IN INVESTMENT OBJECTIVE.
If approved by the Fund's shareholders, the new investment objective of the Fund
would be to seek a high total return, comprising a combination of income and
capital appreciation. In pursuit of the proposed investment objective, the Fund
would follow a flexible investment policy of investing primarily in equity and
debt securities of domestic and foreign companies.
Under the proposed investment objective, the Fund would not be subject to the
current policy of investing at least 65% of its total assets in equity
securities of companies that meet the following criteria: consistent dividend
increases, reinvested earnings, prospects for future earnings growth, and a
strong balance sheet. While these factors may be considered by the Invest-
ment Manager in selecting equity investments for the Fund, under the proposed
new investment objective (and as reflected in the proposed name), the Invest-
ment Manager would have the flexibility to select equity securities without
reference to specific criteria as to the security's dividend paying history.
Currently, the Fund may invest in debt securities only to the extent consistent
with the objective of capital appreciation (I.E., debt securities for which the
market value is expected to increase) and only in amounts up to 35% of the
Fund's total assets. Under the proposed investment objective, the Fund could
invest in debt securities for the purpose of generating current income, as
well as for capital appreciation, if any, and without limitation as to the
percentage of the Fund's assets invested in debt securities. Under the pro-
posed investment objective, the percentage of the Fund's assets invested in
equity or debt securities would vary from time to time, based on the Invest-
ment Manager's assessment of the relative total return potential of various
investment vehicles.
March 21, 1995 TL414 STKR4 03/95
