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Created with Fabric.js 1.4.5 NQR 1-Rated Calls - Caller asked whether he could take a loan from his Roth IRA. The representative stated that he couldnot take a loan and that money taken out of the account would be considered a distribution, and thendiscussed the option of a rollover versus explaining that the shareholder could take contributions out ofthe account tax- and penalty-free at any time. -Representative stated that the account balance in the Franklin Income Fund “as-of” 12/31/14 was $25,107.08; the shareholder accounting system indicates that the 12/31/14 balance was $25,267.08.-The representative also stated that the Franklin Income Fund was a long-term fixed income fund versus that the fund is classified as a hybrid fund. -Caller asked why the previous day’s market performance did not affect the NAV of the Franklin Income Fund. The representative stated that the fund was heavily invested in the energy sector and that one of the reasons why the NAV was low was related to low gas prices: the portfolio statistics show that the energy sector represented 10.23% of the fund as-of 12/31/14 and that corporate bonds represented the largest sector at 41.35%. -The caller asked when his redemption check would be mailed. The representative stated that the scheduled trade date for the caller’s redemption was 1/22, the previous day, and that the check would be mailed that day, 1/23; the shareholder account system indicates that the redemption was process through the NSCC and did not settle until 1/27. - Caller requested a distribution of $3,915. The representative did not explain that she would have to take a distribution of a larger amount ($3,954.55) because a CDSC would be assessed. - Representative stated that the S&P 500 Index 529 Portfolio had some foreign investments, derivatives,and index tracking instruments versus that the portfolio's equity holdings are 100% domestic. - Representative stated that the caller has 60 days from the date of the last distribution to effect arollover versus 60 days from receipt of the distribution proceeds. The representative also said that the caller could exchange only once per quarter and later stated that if the caller exchanged once or twice per quarter, she would not be in violation of the Frequent Trading Policy versus that there is no limit to the number of allowable exchanges as long as minimum purchase requirements are met, but that Franklin Templeton reserves the right to place restrictions on accounts to avoid market timing tradingactivity.
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