POWER OF ATTORNEY

      The undersigned officers and trustees of FRANKLIN INVESTORS
SECURITIES TRUST, a Delaware statutory trust (the "Registrant"), hereby
appoint BRUCE G. LETO, KAREN L. SKIDMORE, CRAIG S. TYLE, DAVID P. GOSS
and STEVEN J. GRAY (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, with respect to the
Registrant's Registration Statement on Form N-14 with respect to the
proposed reorganization of HSBC Investor Core Plus Fixed Income Fund
and HSBC Investor Intermediate Duration Fixed Income Fund with and into
Franklin Total Return Fund, 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 May, 2009.



/s/ EDWARD B. JAMIESON                     /s/ CHARLES B. JOHNSON
Edward B. Jamieson, Chief Executive        Charles B. Johnson,
Officer-Investment Management              Trustee


/s/ LAURA F. FERGERSON                     /s/ RUPERT H. JOHNSON
Laura F. Fergerson,                        Rupert H. Johnson, Jr.
Chief Executive Officer                    Trustee
- - Finance and Administration


/s/ GASTON GARDEY                          /s/ FRANK W.T. LAHAYE
Gaston Gardey,                             Frank W.T. LaHaye,
Chief Financial Officer and                Trustee
Chief Accounting Officer


/s/ HARRIS J. ASHTON                       /s/ FRANK A. OLSON
Harris J. Ashton,                          Frank A. Olson,
Trustee                                    Trustee


/s/ ROBERT F. CARLSON                      /s/ LARRY D. THOMPSON
Robert F. Carlson,                         Larry D. Thompson,
Trustee                                    Trustee


/s/ SAM GINN                               /s/ JOHN B. WILSON
Sam Ginn,                                  John B. Wilson,
Trustee                                    Trustee


/s/ EDITH E. HOLIDAY
Edith E. Holiday,
Trustee