This Site is provided by Franklin Templeton Investments for U.S. investors only. Franklin Templeton may modify, suspend, discontinue or restrict the use and availability of any portion or all of this Site at any time, without notice or liability. Your use of this Site may be monitored by Franklin Templeton for any purpose, without liability.
These Terms are effective as of: September 24, 2014
- Site Sponsor
- Information for Non-U.S. Investors
- Authorized Use and Users
- Means of Access and Prohibited Uses
- Limited License Grant
- Fund Prospectus Offer, Performance, and Investment Risks
- Section 529 College Savings Plans
- Privacy, Personal Information Transmission and Usage Monitoring
- User Produced Content and License Grant to Franklin Templeton
- RSS and Sharing Site Content
- Linking Permission
- Trademarks, Copyright Policy, Notice and Claim Information
- Third Party Content
- DISCLAIMER OF WARRANTIES
- Limitation of Liability
- Governing Law, Forum, Severability
This Site is provided as a service, and for informational purposes only, by Franklin Templeton Distributors, Inc. and/or its affiliates that are the Franklin Templeton Investments corporate group of companies (collectively, “Franklin Templeton” or “Franklin Templeton Investments” or “we” or “us”) —it is not provided by the Franklin Templeton investment companies (“Fund(s)”).
Franklin Resources, Inc. [NYSE: BEN] is a global investment organization operating as Franklin Templeton Investments. Through various Franklin Templeton entities, Franklin Templeton Investments provides global and U.S. investment, shareholder and distribution services to the Franklin, Templeton and Mutual Series Funds (“Funds”) and institutional accounts, as well as separate account management services.
Information for Non-U.S. Investors
This Site is intended for residents of the United States only. If you do not reside in the United States, please visit our non-U.S. Beyond Bulls & Bears blog at http://global.beyondbullsandbears.com/.
Nothing on this Site shall be considered a solicitation to buy or an offer to sell a security, or any other product or service, to any person in any jurisdiction where such solicitation, offer, purchase or sale would be unlawful under the laws of that jurisdiction.
Authorized Use, Users
U.S. resident use only. This Site is intended for residents of the United States only. If you choose to access this Site from locations outside of the United States, you do so at your own initiative and risk, and are responsible for compliance with all applicable laws.
Not intended for minors. This Site is only intended for adults at least eighteen (18) years of age, emancipated minors or un-emancipated minors between the ages of 13 and 17 only with parental consent. This site is not intended for children under the age of thirteen (13).
No solicitations. This Site is for informational use. Nothing on this Site shall be considered a solicitation to buy or an offer to sell, or a recommendation for, a security, or any other product or service.
No investment recommendations or professional advice; use of tools. This Site is not intended to provide any tax, legal, insurance or investment advice, and nothing on the Site should be construed as a recommendation, by us or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. If there are certain tools available on the Site that provide general investment or financial analyses based upon your personalized input, such results are not to be construed as our providing investment recommendations or advice. Unless otherwise specified, you alone are solely responsible for determining whether any investment, security or strategy or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.
Limited License Grant
Means of Access and Prohibited Uses
The Site is generally intended to be viewed by a conventional web browser with a screen resolution of 640 by 480 pixels or greater. Although you may use other means to access the Site, be aware that the Site may not appear accurately through other access methods, and you use them only at your own risk. You are responsible for setting the cache settings on your browser to ensure that you are receiving the most recent data. Except for RSS feeds, you should not access the Site through devices or services that are designed to provide high-speed, automated, repeated access, unless such devices are approved by Franklin Templeton in writing.
Because all servers have limited capacity and are used by many people, you may not use the Site in any manner that could damage or overburden any Franklin Templeton server, or any network connected to any Franklin Templeton server. You may not use the Site in any manner that would interfere with any other party’s use of the Site.
You also may not probe, scan, test the vulnerability or attempt to gain unauthorized access to Site, Site Content or services, systems, networks or servers connected or associated with this Site through hacking, data mining, or any other means.
Fund Prospectus Offer, Performance, and Investment Risks
Prospectus Offer. For more information on any of our Funds offered in your state, contact your registered representative (financial advisor) or download a prospectus, which contains important information about a fund’s investment goals, sales charges, expenses and risk considerations. Please read the prospectus carefully before you invest or send money.
Franklin Templeton Distributors, Inc.
One Franklin Parkway
San Mateo, CA 94403-1906
Fund Performance. Investment return and principal value for our Funds will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Past performance does not guarantee future results. Money market funds seek to maintain a value of $1.00 per share, but there can be no assurance that they will. Mutual funds, annuities and other investment products are not FDIC insured; are not deposits or obligations of, or guaranteed by, any financial institution; and are subject to risks, including possible loss of the principal amount invested.
Investment Risks. Speculation or stated beliefs about future events, such as market and economic conditions, company or security performance, upcoming product offerings or other projections are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties. General business, market, economic and political conditions could cause actual results to differ materially from what we presently anticipate or project.
All of the funds are subject to certain risks. Generally, investments offering potential for higher returns are accompanied by a higher degree of risk.
Stocks and other equities representing an ownership interest in a corporation have historically outperformed other asset classes over the long term but tend to fluctuate more dramatically over the shorter term. Bonds, and other debt obligations, are affected by the creditworthiness of their issuers and changes in interest rates, with prices often declining as interest rates increase. High yield, lower rated (“junk”) bonds generally have greater price swings and higher default risks. Foreign investing, especially in developing countries, has additional risks such as currency, market volatility, and political and social instability.
These risks, and other risks that particular funds may be subject to, such as specialized industry sectors or use of complex securities, are discussed in each fund’s prospectus.
Section 529 College Savings Plans
Disclosure Document Offer. For more information on any of the Section 529 college savings plans we distribute (“529 Plan(s)”), contact your registered representative (financial advisor) or download a disclosure document, which contains important information about the plan’s investment options, sales charges, expenses and risks. Please read the disclosure document carefully before you invest or send money.
Franklin Templeton Distributors, Inc.
One Franklin Parkway
San Mateo, CA 94403-1906
529 Plan Performance, Characteristics, and Risks. Investment return and principal value of investments in the 529 Plans will fluctuate with market conditions, and you may have a gain or a loss upon sale. Past performance does not guarantee future results. The 529 Plan interests are municipal securities issued by a state agency, and not shares in a mutual fund, although plan portfolios may invest in mutual funds. If you pay state taxes in states other than those offering the 529 Plans, you should consider whether your state offers a plan with alternative tax advantages for its residents. Before investing in a 529 Plan, consult with your financial advisor.
Privacy, Personal Information Transmission and Usage Monitoring
Personal Information Transmission. Your use of the Site may involve the transmission of information, including personally identifiable data, about you. You consent to the transmission of such information by electronic means through the Internet and represent that such consent shall be effective each time you use the Site. We discourage you from using e-mail for sending confidential or sensitive information. If you send e-mail (encrypted or not) to us over the Internet, you are accepting the associated risks of lack of confidentiality.
User Produced Content and License Grant to Franklin Templeton
This Site may contain user produced content, including but not limited to comments, quotations, photographs, graphics, images, logos, user names, illustrations, videos, messages, information, documents and any other materials (collectively ”User Content”) that you submit, upload, post, e-mail, transmit or otherwise make available via the Site (all methods of making material available to or via the Site shall herein be incorporated in the terms “Submit,” “Submitting” or “Submission”).
Except as may be limited by your local jurisdiction’s privacy laws none of the User Content that you Submit via the Site shall be subject to any confidentiality obligations by Franklin Templeton and its affiliates, subsidiaries, directors, officers, employees, agents, licensors and vendors. By Submitting User Content via the Site, you grant Franklin Templeton and its affiliates, subsidiaries, directors, officers, employees, agents, licensors, assigns and vendors a perpetual, worldwide, irrevocable, nonexclusive, paid-up, royalty-free, sub-licensable and transferable license to copy, broadcast, perform, distribute, store, modify, adapt, translate, publish, sell, create derivative works from or otherwise use any User Content, in any manner, in any medium now known or later developed. Such use includes but is not limited to use of know-how, ideas, trade secrets or inventions disclosed or derived from the User Content. You acknowledge that Franklin Templeton may use your User content in any manner without attribution or liability to you or any third party. Franklin Templeton shall exclusively own all right, title and interest in and to any derivative works or inventions created by or on behalf of Franklin Templeton that incorporate or otherwise make use of any User Content, without compensation or notice, and without liability or attribution, to you or any third party.
By Submitting User Content you warrant and agree that you are solely responsible for the User Content, that you may lawfully Submit the User Content, and that you either own all rights, title and interest in and to the User Content or have express permission from the owner to copy and use such User Content for all purposes related to the Site.
You should not Submit to the Site personal identifying information about yourself, employees of Franklin Templeton or any other person including, but not limited to such identifying information as account numbers and social security or tax id numbers.
You further agree not to Submit any of the following prohibited User Content:
- Financial or investment advice; offers to buy or sell investments or opportunities to participate in investment schemes;
- Advertising or solicitations of any sort, including spam;
- Content that impersonates any person or entity, or falsely state or otherwise misrepresents your affiliation with a person or entity;
- Disguises the origin of any content;
- Personal attacks or content that is derogatory toward any Franklin Templeton blogger or employee;
- Content that infringes upon or otherwise misappropriates the intellectual property or proprietary rights of any third party;
- Any viruses or malware that could alter Site Content or otherwise interfere with Site use or harm other computers or software;
- Content that could be deemed harmful to minors in any way, including, but not limited to content that violates child pornography laws, child sexual exploitation laws or laws prohibiting the depiction of minors engaged in sexual conduct;
- Intentionally or unintentionally violates any applicable local, state, national or international laws or regulations.
Franklin Templeton does not control and is not responsible for the User Content Submitted to or via the Site and Franklin Templeton neither guarantees the accuracy, quality or appropriateness of nor endorses any User Content Submitted to the Site. Franklin Templeton does not claim ownership of any User Content you Submit to the Site. You acknowledge that Franklin Templeton shall have the right in its sole discretion to monitor, post, move, edit, refuse, or remove any User Content, in whole or in part, for any reason whatsoever, without notice and without liability.
RSS and Sharing Site Content
Franklin Templeton grants to you a limited, revocable, nonexclusive right to view, store, bookmark, access, download, display, create hyperlinks to and use the Really Simple Syndication (“RSS”) and sharing features (collectively, the “Site Feeds”) available via this Site.
The Site Feeds may be used in connection with personal and commercial websites provided:
- The material from the Site Feeds is used in its entirety, including any caveats and disclaimers embedded in the Site Feeds materials without alteration
- No fee may be charged to allow access to the Site Feeds from your website
- Your website should be primarily for residents of the United States (for non-US focused websites, please use Site Feeds from http://global.beyondbullsandbears.com)
This Site may include widgets which access third party websites for delivery of the Site Feeds or Site Content. Franklin Templeton does not control or endorse these third party websites and the widgets are provided solely for your convenience. You should exercise caution when using these widgets and third party websites and only access the widgets and third party website with which you are familiar.
Franklin Templeton retains all ownership and other rights in the Site Feeds, Site Content, and any and all Franklin Templeton logos and trademarks used in connection with the Site Feeds. You agree to provide proper attribution to Franklin Templeton as the source of the Site Feeds in reasonable proximity to your use thereof, and you agree that you will not modify the format or branding of the headlines, digests and other information provided in the Site Feeds. The Site Feeds may not be disassembled or otherwise redistributed by third-party RSS providers without our express prior written consent.
Franklin Templeton provides the Site Feeds as they are and shall not be held liable for any losses or damages in connection with your use of the information, content, or material contained therein. TO THE FULLEST EXTENT ALLOWED BY LAW, WE DISCLAIM ALL WARRANTIES WITH REGARD TO THE SITE FEEDS AND SITE CONTENT, INCLUDING WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR A PARTICULAR PURPOSE.
Linking to the Site is permitted (“Linking Permission”) solely under the following terms:
- The link must resolve directly to the Site’s home page at http://us.beyondbullsandbears.com or a page within this Site, unaltered in any way, without first resolving to another site or “pop-up” box with the lone exception to display a notice that the link will take the user to the Franklin Templeton Site. The link may not resolve to a framed environment or otherwise alter the Site Content or the look and feel of the Site.
- The text surrounding the link must accurately describe the Site without falsely associating, implying an endorsement or misrepresenting any relationship between the linking site and Franklin Templeton or include any language that might harm the reputation of Franklin Templeton, its affiliated companies, directors or employees. Suggested language for the text identifying the Link is “Franklin Templeton U.S. Beyond Bulls and Bears Blog” or http://us.beyondbullsandbears.com.” You may also use the Franklin Templeton logo shown below and unmodified solely in connection with the link:
- Franklin Templeton reserves the right to revoke this Linking Permission at any time without notice, liability or indemnity to you.
- If you will not comply with the terms of the Linking Permission you may not link or otherwise provide links to the Site.
Trademarks, Copyright Policy, Notice and Claim Information
All trademarks, service marks and logos appearing on this Site are the exclusive property of Franklin Templeton or their respective owners. Except as permitted in the Linking Permission, nothing contained on this Site should be construed as granting any license or right to use any trademarks (see Franklin Templeton Trademarks), service marks or trade dress of Franklin Templeton or any third party.
All Site Content is owned or licensed by Franklin Templeton and its third party information providers, and are protected by United States and international intellectual property laws. Franklin Templeton reserves the right to remove any content that may infringe third party intellectual property rights.
If you believe any content on this Site infringes your copyrights, please submit the following to Franklin Templeton:
- An electronic or physical signature of the person authorized to act on behalf of the owner of the copyright allegedly infringed;
- An identification and a description of the copyrighted material and where the material that you claim is infringing is located on the Site;
- Your address, telephone number, and email address;
- A statement by you that you have a good faith belief that the disputed use in the manner complained of is not authorized by the copyright owner, its agent, or the law;
- A statement by you, made under penalty of perjury, that the above information in your notice is accurate and that you are the owner of the allegedly infringed copyright, or that you are authorized to act on the copyright owner’s behalf.
In accordance with the Digital Millennium Copyright Act, Franklin Templeton designates as its agent to receive notifications of claimed copyright infringement as follows:
J. Matthew Gowdy, Esq.
Senior Corporate Counsel
Franklin Templeton Investments
One Franklin Parkway, San Mateo, CA 94403-1906.
Tel: (650) 312-2000
Fax: (650) 525-7141
e-mail at email@example.com.
Third Party Content
Some of the products, services, content, including any advertisements, tools, and information available through the Site may be provided by companies that are not affiliated with Franklin Templeton (“Third Party Content”) and their source is clearly identified. In some cases, the Third Party Content may be available through a link to a third party site. While Franklin Templeton will generally only provide such information from, or links to, sources considered reliable, Franklin Templeton has not been involved in the preparation, adoption or editing of Third Party Content and does not explicitly or implicitly endorse or approve such content and neither Franklin Templeton nor the Third Party Content providers guarantee its accuracy, timeliness, completeness or usefulness, and are not responsible or liable for any such content, including any advertising, products, or other materials on or available from third party sites. Third Party Content is provided for informational purposes only and Franklin Templeton and the Third Party Content providers specifically disclaim any responsibility for Third Party Content available on the site. You will use Third Party Content only at your own risk. THE THIRD PARTY CONTENT IS PROVIDED ON AN “AS-IS” BASIS. FRANKLIN TEMPLETON IS NOT RESPONSIBLE FOR ANY THIRD PARTY CONTENT AND LINKS THERETO AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.
DISCLAIMER OF WARRANTIES
YOU ACKNOWLEDGE AND AGREE THAT THIS SITE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. NONE OF FRANKLIN TEMPLETON, ITS AFFILIATES OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS (COLLECTIVELY, THE “FRANKLIN TEMPLETON PARTIES”) GUARANTEES THE TIMELINESS, ACCURACY, RELIABILITY, COMPLETENESS, OR USEFULNESS OF ANY OF THE SITE. NONE OF THE FRANKLIN TEMPLETON PARTIES WARRANT THAT THIS SITE OR DOWNLOADS WILL MEET YOUR NEEDS OR EXPECTATIONS, OR BE UNINTERRUPTED, SECURE OR ERROR FREE OR THAT THIS SITE, ITS SERVER OR ANY FILES AVAILABLE FOR DOWNLOADING THROUGH THIS SITE ARE FREE OF COMPUTER VIRUSES OR OTHER HARMFUL ELEMENTS. THE FRANKLIN TEMPLETON PARTIES HAVE NO RESPONSIBILITY FOR VIRUSES OR ANY OTHER DAMAGE THAT MAY BE CAUSED TO YOU AS A RESULT OF USING THIS SITE. PERIODS OF VOLATILE OR UNUSUAL MARKET ACTIVITY, IN PARTICULAR, MAY AFFECT SYSTEMS AVAILABILITY OR RESPONSE TIME.
YOU EXPRESSLY AGREE THAT THE ENTIRE RISK AS TO THE QUALITY AND PERFORMANCE OF THIS SITE AND THE TIMELINESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THE SITE IS ASSUMED SOLELY BY YOU. ALL OF THE FRANKLIN TEMPLETON PARTIES HEREBY SPECIFICALLY DISCLAIM ANY REPRESENTATIONS, ENDORSEMENTS, GUARANTEES, OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING THIS SITE, INCLUDING WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT OF THIRD-PARTY RIGHTS. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ALL OF THE FRANKLIN TEMPLETON PARTIES DISCLAIM ANY WARRANTIES WITH RESPECT TO ANY RESULTS THAT MAY BE OBTAINED FROM THE USE OF THIS SITE.
You agree that you are responsible for the means you use to access the Site and understand that your hardware, software, the Internet, your Internet Service Provider, and other third parties involved in connecting you to our Site may not perform as intended or desired.
As with all web sites, this Site may be vulnerable to hacking, viruses, worms or other malware that may interfere with your use and access to the Site or otherwise alter the Site Content, including but not limited to making false investment recommendations. Such malware may also harm your computer and software used to access the Site. It is your responsibility to ensure you are using the most up-to-date virus protection software to protect your computer from malware.
Reasonable precautions have been taken to ensure that Site Content is accurate, however, we do not warrant that the Site Content is accurate, complete or timely. Site Content is presented only as of the date published or indicated and may be superseded by subsequent market events or other reasons. Franklin Templeton has no duty to update this Site or any Site Content. WE SHALL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGES ARISING FROM ANY ACTIONS, INACTION OR INVESTMENT DECISIONS TAKEN BY YOU BASED ON THE ACCURACY, COMPLETENESS OR TIMELINESS OF THE DATA OR INFORMATION PRESENTED THROUGH THIS SITE.
Limitation of Liability
YOUR SOLE REMEDY FOR DISSATISFACTION WITH YOUR USE OF OUR SITE IS TO STOP USING THE SITE. YOU AGREE THAT UNDER NO CIRCUMSTANCES WILL THE FRANKLIN TEMPLETON PARTIES BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES (COLLECTIVELY, THE “EXCLUDED DAMAGES”), ARISING OUT OF OR IN ANY WAY CONNECTED WITH YOUR USE OF OR INABILITY TO USE THIS SITE, INCLUDING BUT NOT LIMITED TO: LOSS OF REVENUE, TRADING LOSSES, ANTICIPATED PROFITS, BUSINESS, SAVINGS, GOODWILL OR DATA; ANY FAILURE OF PERFORMANCE, DENIAL OF SERVICE, ATTACK, INTERRUPTION, DEFECT, OPERATOR ERRORS, INCONVENIENCE OR DELAY IN OPERATION OR TRANSMISSION OR COMPUTER VIRUS; FAILURE OF ELECTRONIC OR MECHANICAL EQUIPMENT OR COMMUNICATIONS LINES (INCLUDING TELEPHONE, CABLE AND INTERNET); SEVERE OR EXTRAORDINARY WEATHER (INCLUDING FLOOD, EARTHQUAKE, OR OTHER ACT OF GOD); FIRE, WAR, INSURRECTION, TERRORIST ACT, RIOT, LABOR DISPUTE AND OTHER LABOR PROBLEMS, ACCIDENT, EMERGENCY OR ACTION OF GOVERNMENT; OR THIRD PARTY THEFT OF, DESTRUCTION OF, UNAUTHORIZED ACCESS TO, ALTERATION OR USE OF YOUR INFORMATION, EQUIPMENT OR PROPERTY, EVEN IF THE FRANKLIN TEMPLETON PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF OR COULD HAVE FORESEEN THE EXCLUDED DAMAGES. FURTHER, THE FRANKLIN TEMPLETON PARTIES WILL NOT BE RESPONSIBLE FOR ANY FAILURE TO COMPLY, BY YOU OR ANY THIRD PARTY, WITH THESE TERMS OR WITH APPLICABLE FEDERAL, STATE AND LOCAL LAWS.
THESE LIMITATIONS OF LIABILITY WILL APPLY REGARDLESS OF: (I) ANY NEGLIGENCE OR GROSS NEGLIGENCE OF ANY FRANKLIN TEMPLETON PARTY OR (II) WHETHER THE LIABILITY SOUNDS IN NEGLIGENCE, STRICT LIABILITY, CONTRACT, TORT (INCLUDING NEGLIGENCE) OR ANY OTHER THEORY OF LEGAL LIABILITY; AND WILL REMAIN IN EFFECT EVEN IF ANY REMEDY FAILS OF ITS ESSENTIAL PURPOSE. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OF LIABILITY OR EXCLUSION OF WARRANTIES, SO THE ABOVE LIMITATIONS AND EXCLUSIONS MAY NOT APPLY TO YOU. IN THOSE JURISDICTIONS, THE FRANKLIN TEMPLETON PARTIES’ LIABILITY WILL BE LIMITED TO THE GREATEST EXTENT PERMITTED BY LAW. IN NO EVENT SHALL THE FRANKLIN TEMPLETON PARTIES’ AGGREGATE LIABILITY TO YOU EXCEED ONE HUNDRED DOLLARS ($100).
Governing Law, Forum, Severability