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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$12.51

$4.02 B

4.66%

$0.58

0.68%

Vitals

YTD Return

3.1%

1 yr return

-6.1%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

-0.2%

Net Assets

$4.02 B

Holdings in Top 10

18.2%

52 WEEK LOW AND HIGH

$12.5
$11.24
$13.53

Expenses

OPERATING FEES

Expense Ratio 0.68%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 39.64%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$12.51

$4.02 B

4.66%

$0.58

0.68%

FBFZX - Profile

Distributions

  • YTD Total Return 3.1%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.52%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Franklin Managed Income Fund
  • Fund Family Name
    Franklin Templeton Investments
  • Inception Date
    Jul 03, 2006
  • Shares Outstanding
    17628569
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Edward Perks

Fund Description

Under normal market conditions, the Fund invests in a diversified portfolio of stocks (substantially dividend paying) and debt securities. The Fund normally invests at least 25% of its total assets in debt securities, including bonds, notes, debentures and money market securities. In addition, the Fund normally invests at least 25% of its total assets in equity securities, primarily common and preferred stock. To the extent that the value of convertible and preferred securities can be attributed to their debt characteristics, they will be treated as debt securities for purposes of this investment policy.

The Fund seeks income by investing in a combination of corporate, agency and government bonds issued in the United States and other countries, as well as common stocks of companies in any market capitalization range and convertible securities. The Fund seeks capital appreciation by investing in equity securities and convertible securities of companies from a variety of industries.

The Fund generally invests in investment grade debt securities. The Fund may invest in debt securities of any duration. The Fund does not currently anticipate investing more than 25% of its total assets in securities of issuers domiciled outside the United States.

The Fund also invests in equity-linked notes, which are hybrid derivative-type instruments that are specially designed to combine the characteristics of one or more reference securities (usually a single stock, a stock index or a basket of stocks (underlying securities)) and a related equity derivative, such as a put or call option, in a single note form.

The Fund may, from time to time, use (i) equity-related derivatives, which may include call and put options on equity securities and equity security indices, futures on equity securities and equity indexes and options on equity index futures, (ii) interest rate derivatives, including interest rate swaps and interest rate/bond futures contracts, (iii) currency derivatives, including forward foreign currency exchange contracts, currency futures contracts, currency swaps and currency options and (iv) credit-related derivatives, such as credit default swaps and options on credit default swaps for various purposes, including enhancing Fund returns, increasing liquidity,

gaining exposure to particular instruments or markets in more efficient or less expensive ways and/or hedging risks. The use of such derivative transactions may allow the Fund to obtain net long or net short exposures to selected securities, markets, interest rates, countries, currencies, credits or durations.

The investment manager applies a “bottom-up” approach to investing in individual securities. The investment manager will assess the market price of a company’s securities relative to the investment manager’s evaluation of the company’s long-term earnings, asset value and cash flow potential. The investment manager also considers a company’s price/earnings ratio, profit margins and liquidation value. In determining an optimal mix of equity and fixed-income investments for the Fund, the investment manager assesses changing economic, market and industry conditions.

Under normal market conditions, the Fund employs a managed distribution policy that is designed to provide shareholders with regular distributions from their investment. Under this policy, the Fund distributes twelve level monthly payments throughout each calendar year to enable shareholders to estimate the distributions they will receive from the Fund; however, the twelfth monthly payment may be greater than the initially anticipated amount if additional income or capital gains are required to be distributed. The targeted annual payout rate for all share classes is between approximately 2.75% and 6.25% per share based on the last net asset value of the Fund of the prior calendar year in which the distribution is being made (e.g., for distributions made in 2022, the targeted annual payout rate for all share classes will be based on the Fund’s net asset value on December 31, 2021). The distribution rate will vary by class based on the expenses of each class. Every year, the investment manager will undertake to determine if an adjustment should be made to the monthly rate.

It is possible to lose money by investing in the Fund notwithstanding the managed distribution policy. There can be no assurance or guarantee that the Fund will provide a fixed stable level of distributions at any time or over any period of time. An investment in the Fund could lose money over short, intermediate, or even long periods of time.

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FBFZX - Performance

Return Ranking - Trailing

Period FBFZX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -24.7% 108.5% 88.67%
1 Yr -6.1% -26.8% 111.1% 10.94%
3 Yr -0.2%* -9.4% 26.0% 28.45%
5 Yr -0.2%* -10.3% 23.3% 36.21%
10 Yr 1.4%* -4.9% 8.4% 38.66%

* Annualized

Return Ranking - Calendar

Period FBFZX Return Category Return Low Category Return High Rank in Category (%)
2022 -10.9% -39.0% 92.4% 11.47%
2021 3.6% -6.1% 39.6% 37.55%
2020 0.2% -21.9% 14.5% 89.07%
2019 2.4% -15.9% 6.3% 82.84%
2018 -1.5% -12.6% 61.5% 11.92%

Total Return Ranking - Trailing

Period FBFZX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -24.7% 108.5% 88.80%
1 Yr -6.1% -26.8% 111.1% 13.22%
3 Yr -0.2%* -9.4% 26.0% 30.76%
5 Yr 0.7%* -10.3% 23.3% 30.36%
10 Yr 4.2%* -4.9% 11.1% 29.71%

* Annualized

Total Return Ranking - Calendar

Period FBFZX Return Category Return Low Category Return High Rank in Category (%)
2022 -10.9% -39.0% 92.4% 11.47%
2021 3.6% -6.1% 39.6% 37.55%
2020 0.2% -21.9% 14.5% 89.07%
2019 2.5% -11.5% 6.3% 80.94%
2018 -0.6% -12.6% 61.5% 7.84%

NAV & Total Return History


FBFZX - Holdings

Concentration Analysis

FBFZX Category Low Category High FBFZX % Rank
Net Assets 4.02 B 658 K 207 B 21.22%
Number of Holdings 184 2 15351 38.96%
Net Assets in Top 10 723 M -6.38 M 48.5 B 42.26%
Weighting of Top 10 18.19% 8.4% 100.0% 92.00%

Top 10 Holdings

  1. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  2. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  3. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  4. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  5. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  6. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  7. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  8. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  9. Txn 8.50% Eln Issued By Bnp Pa 2.75%
  10. Txn 8.50% Eln Issued By Bnp Pa 2.75%

Asset Allocation

Weighting Return Low Return High FBFZX % Rank
Stocks
50.04% 0.00% 99.40% 80.96%
Bonds
35.42% -82.31% 116.75% 40.61%
Preferred Stocks
10.54% 0.00% 27.92% 2.28%
Cash
2.96% -16.75% 158.07% 59.01%
Convertible Bonds
0.97% 0.00% 23.84% 29.44%
Other
0.07% -6.69% 48.03% 41.24%

Stock Sector Breakdown

Weighting Return Low Return High FBFZX % Rank
Utilities
22.68% 0.00% 99.55% 2.29%
Healthcare
16.48% 0.00% 39.78% 13.99%
Industrials
12.63% 0.00% 33.21% 15.52%
Financial Services
12.34% 0.00% 60.22% 79.90%
Technology
8.03% 0.00% 48.68% 92.49%
Energy
6.97% 0.00% 85.65% 23.66%
Basic Materials
6.89% 0.00% 33.35% 7.63%
Consumer Defense
6.71% 0.00% 22.62% 47.96%
Communication Services
4.33% 0.00% 100.00% 90.46%
Consumer Cyclical
2.77% 0.00% 20.19% 94.27%
Real Estate
0.17% 0.00% 65.01% 92.88%

Stock Geographic Breakdown

Weighting Return Low Return High FBFZX % Rank
US
42.84% -1.65% 98.67% 61.93%
Non US
7.20% -0.44% 56.67% 60.66%

Bond Sector Breakdown

Weighting Return Low Return High FBFZX % Rank
Corporate
81.66% 0.00% 98.21% 5.46%
Government
11.35% 0.00% 97.26% 81.85%
Cash & Equivalents
5.88% 0.14% 100.00% 75.63%
Securitized
0.98% 0.00% 92.13% 82.11%
Derivative
0.13% 0.00% 31.93% 28.55%
Municipal
0.00% 0.00% 87.00% 96.57%

Bond Geographic Breakdown

Weighting Return Low Return High FBFZX % Rank
US
28.46% -82.31% 80.50% 56.09%
Non US
6.96% 0.00% 84.73% 20.05%

FBFZX - Expenses

Operational Fees

FBFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.06% 7.62% 76.75%
Management Fee 0.55% 0.00% 1.83% 65.55%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.20% 0.01% 0.83% 88.08%

Sales Fees

FBFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FBFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FBFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 39.64% 0.00% 343.00% 48.23%

FBFZX - Distributions

Dividend Yield Analysis

FBFZX Category Low Category High FBFZX % Rank
Dividend Yield 4.66% 0.00% 29.57% 4.24%

Dividend Distribution Analysis

FBFZX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Quarterly Quarterly

Net Income Ratio Analysis

FBFZX Category Low Category High FBFZX % Rank
Net Income Ratio 2.52% -2.34% 19.41% 8.37%

Capital Gain Distribution Analysis

FBFZX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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FBFZX - Fund Manager Analysis

Managers

Edward Perks


Start Date

Tenure

Tenure Rank

Jul 03, 2006

15.92

15.9%

Edward Perks is chief investment officer of Franklin Templeton Investment Solutions and president of Franklin Advisers, Inc. In this role, Mr. Perks has oversight of myriad multi-asset investment capabilities designed to meet client needs for specific investment solutions. Mr. Perks joined Franklin Templeton in 1992. Mr. Perks holds a B.A. in economics and political science from Yale University. He is a Chartered Financial Analyst (CFA) charterholder, a member of the CFA Institute, and the Security Analysts of San Francisco (SASF).

Todd Brighton


Start Date

Tenure

Tenure Rank

Mar 01, 2017

5.25

5.3%

Todd Brighton is a vice president, portfolio manager and research analyst for Franklin Templeton Multi-Asset Solutions. He is the lead manager of the Franklin Liberty US Low Volatility ETF. Mr. Brighton analyzes equity and equity-linked investments for the Core/Hybrid team and specializes in the development of volatility-based strategies. Mr. Brighton joined Franklin Templeton in 2000. He is a Chartered Financial Analyst (CFA) charterholder and a member of the CFA Institute and the CFA Society of San Francisco.

Brendan Circle


Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Brendan Circle is a vice president, portfolio manager, and research analyst for Franklin Templeton Multi-Asset Solutions. In this role, Mr. Circle serves as a comanager of Franklin Income Fund and related portfolios, as well as Franklin Managed Income Fund. He also specializes in analyzing investment opportunities across the fixed income markets for the Multi-Asset Solutions team. Mr. Circle joined Franklin Templeton in 2014. Mr. Circle is a Chartered Financial Analyst (CFA) Charterholder, as well as a member of the CFA Institute and the CFA Society of San Francisco.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 34.51 6.26 2.41