POWER OF ATTORNEY
The undersigned trustee of each trust listed in Schedule A hereto (each a “Registrant”) hereby appoint ALISON E. BAUR, ALEXANDER Y. KYMN, CHRISTINE DEBEVEC, HARRIS GOLDBLAT, TARA E. GORMEL, NAVID J. TOFIGH, MARC DE OLIVEIRA, BRUCE G. LETO, DAVID GRIM, KRISTIN H. IVES AND MARGUERITE C. BATEMAN
(with full power to each of them to act alone) his/her attorney-in-fact and agent, in all capacities, to execute, deliver and file in the names of the undersigned, any and all instruments that said attorneys and agents may deem necessary or advisable to enable the Registrant to comply with or register any security issued by the Registrant under the Securities Act of 1933, as amended, and/or the Investment Company Act of 1940, as amended, and the rules, regulations and interpretations thereunder, including but not limited to, any registration statement, including any and all pre- and post-effective amendments thereto, any other document to be filed with the U.S. Securities and Exchange Commission and any and all documents required to be filed with respect thereto with any other regulatory authority. Each of the undersigned grants to each of said attorneys, full authority to do every act necessary to be done in order to effectuate the same as fully, to all intents and purposes, as he/she could do if personally present, thereby ratifying all that said attorneys-in-fact and agents may lawfully do or cause to be done by virtue hereof.
This Power of Attorney may be executed in one or more counterparts, each of which shall be deemed to be an original and all of which shall be deemed to be a single document.
The undersigned officers and trustees hereby execute this Power of Attorney as of the 19th day of August 2026.
/s/Ann Torre Bates, Trustee
Ann Torre Bates, Trustee
Schedule A To
Power of Attorney
Name of Trust | Securities Act File No. |
Franklin California Tax-Free Income Fund | 002-60470 |
Franklin California Tax-Free Trust | 002-99112 |
Franklin Custodian Funds | 002-11346 |
Franklin Federal Tax-Free Income Fund | 002-75925 |
Franklin Floating Rate Master Trust The registration statement below marked with an asterisk Franklin Floating Rate Master Series* | SERIES ID: S000007441 |
Franklin Fund Allocator Series | 333-13601 |
Franklin Global Trust | 333-46996 |
Franklin Gold and Precious Metals Fund | 002-30761 |
Franklin High Income Trust | 002-30203 |
Franklin Investors Securities Trust | 033-11444 |
Franklin Limited Duration Income Trust | 333-109190 |
Franklin Managed Trust | 033-09994 |
Franklin Municipal Securities Trust | 033-44132 |
Franklin New York Tax-Free Income Fund | 002-77880 |
Franklin New York Tax-Free Trust | 033-07785 |
Franklin Real Estate Securities Trust | 033-69048 |
Franklin Strategic Series | 033-39088 |
Franklin Tax-Free Trust | 002-94222 |
Franklin Templeton Variable Insurance Products Trust | 033-23493 |
Franklin Universal Trust | 033-22162 |
Franklin U.S. Government Money Fund | 002-55029 |
Institutional Fiduciary Trust | 002-96634 |
The Money Market Portfolios The registration statement below marked with an asterisk The U.S. Government Money Market Portfolio* | SERIES ID: S000007450 |