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Franklin Templeton Investments Funds NOTES TO FINANCIAL STATEMENTS For the periods ended December 31, 2012 and 2011 (Continued) 10. Financial Risk Management (Continued) valuation was applied to the Funds where the pre-determined tolerances were exceeded, at which time the securities were classified as Level 2 and subsequently reclassified as Level 1, when the fair value adjustment factors were no longer required. As at December 31, 2012, due to market events, the decision was made to apply market level fair valuation policy which utilizes adjustment factors from third party vendors and other accepted methodologies in accordance with the current Board approved procedures. The markets affected by these events include, Australia, China, Singapore, Vietnam, Austria, Belgium, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, South Africa, Spain, United Kingdom and Brazil. Due to the events, securities within these markets have been transferred from Level 1 to Level 2 as at December 31, 2012. These securities have subsequently been transferred back to Level 1 after year end. As at December 31, 2011, there were no significant market events to cause the pre-determined tolerances to be breached; hence there were no transfers between Level 1 and Level 2 as at that date. 11. Broker Commissions Commissions paid to brokers for portfolio transactions during the periods ended December 31, 2012 and 2011 are shown below. A portion of commissions paid may include payment for goods and services that are used to assist with investment or trading decisions such as investment research, analysis and reports (“research services”). Where ascertainable, the value of the research services included in the commissions paid is listed in the table below. December 31, 2012 December 31, 2011 Commissions Research Costs Commissions Research Costs (000s) (000s) (000s) (000s) Templeton Asian Growth Fund ................................ $ 448 $124 $ 475 $125 Templeton Canadian Balanced Fund ........................... 32 14 27 16 Templeton Canadian Stock Fund .............................. 37 16 115 17 Templeton EAFE Developed Markets Fund ...................... 312 104 375 113 Templeton Emerging Markets Fund ............................ 409 109 856 237 Templeton Frontier Markets Fund ............................. 444 88 33 10 Templeton Global Balanced Fund ............................. 56 14 67 12 Templeton Global Bond Fund ................................ — — — — Templeton Global Smaller Companies Fund ..................... 2,150 747 2,605 935 Templeton International Stock Fund ........................... 939 376 762 323 Franklin Flex Cap Growth Fund ............................... 232 73 326 87 Franklin High Income Fund .................................. 899 — 917 — Franklin Strategic Income Fund ............................... 570 — 462 — Franklin U.S. Core Equity Fund ............................... 521 215 304 132 Franklin U.S. Rising Dividends Fund ........................... 54 26 70 39 Franklin World Growth Fund ................................. 296 115 346 137 Bissett All Canadian Focus Fund .............................. 164 39 227 48 Bissett Bond Fund ......................................... — — — — Bissett Canadian Balanced Fund .............................. — — — — Bissett Canadian Dividend Fund .............................. 406 123 267 63 Bissett Canadian Equity Fund ................................ 820 318 1,329 550 Bissett Canadian High Dividend Fund .......................... 1,245 432 1,094 437 Bissett Canadian Short Term Bond Fund ....................... — — — — Bissett Corporate Bond Fund ................................. — — — — Bissett Dividend Income Fund ................................ 120 42 68 29 Bissett Focus Balanced Fund ................................ 2 1 4 1 Bissett Microcap Fund ...................................... 205 21 315 46 Bissett Small Cap Fund ..................................... 466 111 606 196 Bissett Strategic Income Fund ................................ 52 10 1 — Bissett U.S. Focus Fund ..................................... 105 8 203 2 Mutual Beacon Fund ....................................... 228 50 355 81 Mutual Global Discovery Fund ................................ 602 155 910 275 Franklin Templeton Canadian Core Equity Fund .................. 2,548 7 3,101 1 Franklin Templeton Canadian Large Cap Fund ................... 228 — 312 — Franklin Templeton Global Blend Fund ......................... — — — — Franklin Templeton Money Market Fund ........................ — — — — Franklin Templeton Treasury Bill Fund ......................... — — — — Franklin Templeton U.S. Money Market Fund .................... — — — — Franklin Templeton Investments Funds 247
Franklin Templeton Investments Funds NOTES TO FINANCIAL STATEMENTS For the periods ended December 31, 2012 and 2011 (Continued) 12. Taxes As at December 31, 2012, the following Funds had unused capital losses for income tax purposes. Capital losses can be carried forward indefinitely to reduce future net realized capital gains. Non-capital losses may be carried forward to reduce future taxable income. There were no non-capital losses available to the Funds as at December 31, 2012. Fund Total Capital Losses (000s) Templeton Canadian Balanced Fund ........................................................................... $ 520 Templeton Canadian Stock Fund .............................................................................. 3,645 Templeton EAFE Developed Markets Fund ....................................................................... 30,451 Templeton Frontier Markets Fund .............................................................................. 103 Templeton Global Balanced Fund .............................................................................. 3,974 Templeton Global Smaller Companies Fund ...................................................................... 56,416 Templeton International Stock Fund ............................................................................ 212,049 Franklin Flex Cap Growth Fund ................................................................................ 37,367 Franklin Strategic Income Fund ............................................................................... 43,269 Franklin U.S. Core Equity Fund ................................................................................ 23,865 Franklin US Rising Dividend Fund ............................................................................. 69,603 Franklin World Growth Fund .................................................................................. 11,052 Bissett All Canadian Focus Fund .............................................................................. 27,480 Bissett Bond Fund .......................................................................................... 21,154 Bissett Canadian Dividend Fund ............................................................................... 1,466 Bissett Canadian Short Term Bond Fund ........................................................................ 1,348 Bissett Dividend Income Fund ................................................................................ 4,285 Bissett U.S. Focus Fund ..................................................................................... 19,692 Mutual Beacon Fund ........................................................................................ 164,811 Mutual Global Discovery Fund ................................................................................. 63,054 Franklin Templeton Canadian Core Equity Fund .................................................................. 27,563 Franklin Templeton Canadian Large Cap Fund ................................................................... 1,916 Franklin Templeton U.S. Money Market Fund .................................................................... 12,291 13. Trading Net Asset Value (a) Trading net asset value As discussed in Note 2, the trading net asset value per unit may differ from the GAAP net assets per unit as shown in the Statements of Net Assets. The trading net asset value per unit for each series is shown below, as at December 31, 2012 and December 31, 2011. All trading net asset values per unit are reported in CAD, with the exception of Series T USD, which is reported in USD, the currency in which that series is offered. Templeton Asian Growth Fund Templeton Canadian Balanced Fund 2012 2011 2012 2011 Series O $ 9.57 $ 8.21 Series A $ 8.47 $ 8.21 Series F $ 9.67 $ 9.26 Series O $10.80 $10.19 Series T $ 7.12 $ 7.49 Templeton Canadian Stock Fund Templeton EAFE Developed Markets Fund 2012 2011 2012 2011 Series A $12.06 $11.46 Series A $ 6.51 $ 5.76 Series F $13.92 $13.09 Series F $ 7.45 $ 6.53 Series O $16.56 $15.32 Series O $ 9.05 $ 7.79 248 Franklin Templeton Investments Funds
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FOR THE YEAR ENDED DECEMBER 31, 201
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STATEMENTS OF NET ASSETS As at Dece
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STATEMENT OF INVESTMENTS As at Dece
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Templeton Canadian Balanced Fund ST
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Templeton Global Balanced Fund (for
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Templeton Global Bond Fund STATEMEN
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Franklin High Income Fund STATEMENT
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Franklin Strategic Income Fund STAT
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Franklin U.S. Core Equity Fund STAT
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Franklin U.S. Rising Dividends Fund
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Franklin U.S. Rising Dividends Fund
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Bissett All Canadian Focus Fund STA
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Bissett Bond Fund STATEMENT OF INVE
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Bissett Bond Fund STATEMENT OF INVE
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Bissett Canadian Balanced Fund STAT
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Bissett Canadian Equity Fund STATEM
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Bissett Canadian Short Term Bond Fu
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Bissett Corporate Bond Fund STATEME
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Bissett Dividend Income Fund STATEM
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Bissett Dividend Income Fund STATEM
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Bissett Focus Balanced Fund STATEME
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Bissett Microcap Fund STATEMENTS OF
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Bissett Strategic Income Fund STATE
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Mutual Beacon Fund STATEMENT OF INV
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Mutual Beacon Fund STATEMENT OF INV
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Mutual Beacon Fund STATEMENTS OF CH
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Mutual Global Discovery Fund (forme
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Franklin Templeton Canadian Core Eq
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Franklin Templeton Canadian Core Eq
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Franklin Templeton Global Blend Fun
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Page 205 and 206: STATEMENTS OF NET ASSETS As at Dece
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Page 255 and 256: MANAGEMENT’S RESPONSIBILITY FOR F
Page 257 and 258: INDEPENDENT AUDITOR’S REPORT (Con
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