Franklin LifeSmart Retirement Income Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.4%
1 yr return
12.0%
3 Yr Avg Return
1.9%
5 Yr Avg Return
3.8%
Net Assets
$45 M
Holdings in Top 10
84.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.69%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 121.26%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FBRLX - Profile
Distributions
- YTD Total Return 2.4%
- 3 Yr Annualized Total Return 1.9%
- 5 Yr Annualized Total Return 3.8%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 2.80%
- Dividend Yield 3.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFranklin LifeSmart Retirement Income Fund
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateJan 13, 2015
-
Shares Outstanding191139
-
Share ClassR
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerThomas Nelson
Fund Description
The Fund employs an asset allocation strategy, combined with an income generation strategy, designed for investors in retirement.
Under normal market conditions, the investment manager allocates the Fund’s assets among the broad asset classes of equity and fixed-income investments and strategies by investing primarily in a distinctly-weighted combination of other funds (underlying funds), predominantly other Franklin Templeton and Legg Mason mutual funds and exchange-traded funds (ETFs) and third-party ETFs, based on each underlying fund’s predominant asset class and strategy.
Under normal market conditions, 40% of the Fund’s assets are allocated to equity investments and 60% of the Fund’s assets are allocated to fixed-income investments. The underlying funds and the percentage allocations to each asset class may be changed from time to time by the Fund’s investment manager without the approval of shareholders, and, under normal market conditions, the percentage allocations for equity and fixed-income funds may vary up to 10% from the stated allocations.
In order to generate additional income for the Fund, the investment manager employs an income generation strategy. Under this strategy, the Fund regularly engages in: (1) a direct covered call strategy by writing covered call options on equity indices, equity ETFs and equity index futures; and (2) an indirect covered call strategy through the use of equity index-linked notes, which are notes that synthetically combine the return of the ownership of an equity index and a covered call on that index and produce coupon payments to the Fund. In addition, the Fund may engage in equity index futures and purchase exchange-traded and OTC put options on equity indices, equity ETFs and equity index futures for hedging purposes to tactically adjust the Fund’s exposure to certain asset classes and for efficient portfolio management purposes. The derivatives in which the Fund invests for its income generation strategy are allocated to the Fund’s equity asset class for purposes of the Fund’s asset allocations.
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 3% and 6% 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 2023, the targeted annual payout rate for all share classes will be based on the Fund’s net asset value on December 31, 2022). 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. In determining if changes need to be made to the rate, the investment manager will evaluate such factors as the current and forecasted interest rate environment, dividend projections, fee structure of the Fund and its classes, historical long-term performance of the Fund, and capital market expectations. The current or adjusted distribution rate would be applied in January of the following year. Therefore, the required amount of shares needed to be held by a shareholder to generate the same monthly payout under the managed distribution policy may vary from year to year depending on the determined distribution rate for that year. The annual payout rate may be adjusted higher or lower from year to year in response to market conditions, without shareholder approval.
Level monthly distributions will be paid to shareholders under the managed distribution policy in any given year regardless of the performance of the Fund. These payments may include income and capital gains generated by the underlying securities in the portfolio, as well as a possible return on capital component, if necessary, to meet the annual distribution rate.
When selecting equity funds, the investment manager considers the underlying funds’ foreign and domestic exposure, market capitalization ranges, and investment style (growth vs. value). When selecting fixed-income funds, the investment manager considers the need for reduced market risks and lower volatility, appropriate to the Fund’s risk profile, and considers the credit quality, duration and maturity of the underlying funds’ portfolios. Certain fixed-income funds may hold securities across the credit quality spectrum, including below investment grade or "junk" bonds. The underlying funds may invest in all types of U.S. and foreign (including emerging markets) securities and may engage in strategies that employ derivative instruments. In evaluating the risk level of the underlying funds, the investment manager analyzes such factors as: (a) relative and absolute performance, including correlations with other underlying funds as well as corresponding benchmarks, and (b) their volatility (the variability of returns from one period to the next).
No more than 25% of the Fund’s assets may be invested in any one underlying fund, except that the Fund may invest up to 50% of its total assets in Franklin U.S. Government Securities Fund, Franklin U.S. Treasury Bond ETF, or a combination of both.
While the Fund is designed for investors in retirement, investors should also consider other factors besides their age or retirement date, such as their risk tolerance, personal circumstances, legal considerations, tax consequences and status, complete financial situation and needs and individual goals, some or all of which can change frequently. 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.
FBRLX - Performance
Return Ranking - Trailing
Period | FBRLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.4% | -0.8% | 6.6% | 46.88% |
1 Yr | 12.0% | 0.0% | 13.3% | 13.02% |
3 Yr | 1.9%* | -6.1% | 4.4% | 11.17% |
5 Yr | 3.8%* | -4.5% | 5.5% | 52.82% |
10 Yr | N/A* | 1.6% | 5.0% | 62.14% |
* Annualized
Return Ranking - Calendar
Period | FBRLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.9% | -9.8% | 12.8% | 46.60% |
2022 | -16.6% | -38.3% | -3.8% | 61.78% |
2021 | -1.0% | -9.1% | 10.3% | 53.97% |
2020 | 4.2% | -13.4% | 12.6% | 79.76% |
2019 | 7.8% | -1.1% | 13.9% | 55.32% |
Total Return Ranking - Trailing
Period | FBRLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.4% | -0.8% | 6.6% | 46.88% |
1 Yr | 12.0% | 0.0% | 13.3% | 13.02% |
3 Yr | 1.9%* | -6.1% | 4.4% | 11.17% |
5 Yr | 3.8%* | -4.5% | 5.5% | 52.82% |
10 Yr | N/A* | 1.6% | 5.0% | 58.42% |
* Annualized
Total Return Ranking - Calendar
Period | FBRLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.4% | -9.8% | 15.4% | 26.18% |
2022 | -12.0% | -16.9% | -2.9% | 54.97% |
2021 | 5.2% | -3.8% | 10.3% | 59.26% |
2020 | 8.2% | -13.4% | 16.6% | 77.98% |
2019 | 11.7% | 4.7% | 25.2% | 70.92% |
NAV & Total Return History
FBRLX - Holdings
Concentration Analysis
FBRLX | Category Low | Category High | FBRLX % Rank | |
---|---|---|---|---|
Net Assets | 45 M | 1.16 M | 35.3 B | 79.69% |
Number of Holdings | 16 | 2 | 1413 | 65.63% |
Net Assets in Top 10 | 39.9 M | 931 K | 36.5 B | 73.44% |
Weighting of Top 10 | 84.87% | 4.6% | 101.7% | 48.88% |
Top 10 Holdings
- Western Asset Income Fund, Class IS 14.39%
- ClearBridge Tactical Dividend Income Fund, Class IS 11.75%
- Franklin U.S. Core Bond ETF 11.07%
- Western Asset Short Duration High Income Fund, Class I 10.61%
- JPMorgan Equity Premium Income ETF 10.20%
- Franklin U.S. Government Securities Fund, Class R6 6.66%
- Franklin Investment Grade Corporate ETF 5.66%
- BrandywineGLOBAL - Global Opportunities Bond Fund, Class IS 4.92%
- UBS AG into SP 500 Index 4.83%
- JPMorgan Nasdaq Equity Premium Income ETF 4.79%
Asset Allocation
Weighting | Return Low | Return High | FBRLX % Rank | |
---|---|---|---|---|
Bonds | 4.83% | 0.00% | 109.30% | 36.98% |
Cash | 2.48% | -24.70% | 53.61% | 40.63% |
Convertible Bonds | 1.54% | 0.00% | 6.56% | 10.42% |
Stocks | 0.00% | 0.00% | 100.13% | 72.92% |
Preferred Stocks | 0.00% | 0.00% | 11.70% | 18.75% |
Other | 0.00% | -0.07% | 5.62% | 41.15% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FBRLX % Rank | |
---|---|---|---|---|
Corporate | 56.22% | 0.00% | 99.84% | 7.81% |
Securitized | 15.42% | 0.00% | 81.91% | 61.98% |
Government | 12.03% | 0.00% | 99.79% | 76.56% |
Cash & Equivalents | 2.01% | 0.00% | 80.50% | 41.67% |
Municipal | 0.44% | 0.00% | 99.98% | 29.17% |
Derivative | 0.00% | -0.07% | 0.78% | 28.65% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FBRLX % Rank | |
---|---|---|---|---|
US | 4.83% | 0.00% | 109.30% | 36.98% |
Non US | 0.00% | 0.00% | 7.58% | 28.65% |
FBRLX - Expenses
Operational Fees
FBRLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.69% | 0.06% | 13.37% | 7.85% |
Management Fee | 0.25% | 0.00% | 0.79% | 70.00% |
12b-1 Fee | 0.50% | 0.00% | 1.00% | 59.42% |
Administrative Fee | N/A | 0.01% | 0.29% | N/A |
Sales Fees
FBRLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.75% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FBRLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
FBRLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 121.26% | 0.00% | 121.26% | 97.53% |
FBRLX - Distributions
Dividend Yield Analysis
FBRLX | Category Low | Category High | FBRLX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.89% | 0.00% | 9.68% | 6.77% |
Dividend Distribution Analysis
FBRLX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
FBRLX | Category Low | Category High | FBRLX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.80% | -0.06% | 5.71% | 7.22% |
Capital Gain Distribution Analysis
FBRLX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Semi-Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 25, 2024 | $0.033 | OrdinaryDividend |
Feb 26, 2024 | $0.033 | OrdinaryDividend |
Jan 26, 2024 | $0.033 | OrdinaryDividend |
Dec 28, 2023 | $0.017 | OrdinaryDividend |
Dec 26, 2023 | $0.138 | OrdinaryDividend |
Nov 27, 2023 | $0.032 | OrdinaryDividend |
Oct 26, 2023 | $0.032 | OrdinaryDividend |
Sep 26, 2023 | $0.032 | OrdinaryDividend |
Aug 28, 2023 | $0.032 | OrdinaryDividend |
Jul 26, 2023 | $0.032 | OrdinaryDividend |
Jun 27, 2023 | $0.032 | OrdinaryDividend |
May 25, 2023 | $0.032 | OrdinaryDividend |
Apr 25, 2023 | $0.032 | OrdinaryDividend |
Mar 28, 2023 | $0.032 | OrdinaryDividend |
Feb 23, 2023 | $0.032 | OrdinaryDividend |
Jan 26, 2023 | $0.032 | OrdinaryDividend |
Dec 27, 2022 | $0.073 | OrdinaryDividend |
Nov 25, 2022 | $0.033 | OrdinaryDividend |
Oct 26, 2022 | $0.033 | OrdinaryDividend |
Sep 27, 2022 | $0.033 | OrdinaryDividend |
Aug 26, 2022 | $0.033 | OrdinaryDividend |
Jul 26, 2022 | $0.033 | OrdinaryDividend |
Jun 27, 2022 | $0.033 | OrdinaryDividend |
May 25, 2022 | $0.033 | OrdinaryDividend |
Apr 26, 2022 | $0.033 | OrdinaryDividend |
Mar 28, 2022 | $0.033 | OrdinaryDividend |
Feb 23, 2022 | $0.033 | OrdinaryDividend |
Jan 26, 2022 | $0.033 | OrdinaryDividend |
Nov 26, 2021 | $0.034 | OrdinaryDividend |
Oct 27, 2021 | $0.034 | OrdinaryDividend |
Sep 28, 2021 | $0.034 | OrdinaryDividend |
Aug 27, 2021 | $0.034 | OrdinaryDividend |
Jul 28, 2021 | $0.034 | OrdinaryDividend |
Jun 28, 2021 | $0.034 | OrdinaryDividend |
May 26, 2021 | $0.034 | OrdinaryDividend |
Apr 28, 2021 | $0.034 | OrdinaryDividend |
Mar 29, 2021 | $0.034 | OrdinaryDividend |
Feb 24, 2021 | $0.034 | OrdinaryDividend |
Jan 27, 2021 | $0.034 | OrdinaryDividend |
Dec 29, 2020 | $0.034 | OrdinaryDividend |
Nov 25, 2020 | $0.034 | OrdinaryDividend |
Oct 28, 2020 | $0.034 | OrdinaryDividend |
Sep 28, 2020 | $0.034 | OrdinaryDividend |
Aug 27, 2020 | $0.034 | OrdinaryDividend |
Jul 29, 2020 | $0.034 | OrdinaryDividend |
Jun 26, 2020 | $0.034 | OrdinaryDividend |
May 27, 2020 | $0.034 | OrdinaryDividend |
Apr 28, 2020 | $0.034 | OrdinaryDividend |
Mar 27, 2020 | $0.034 | OrdinaryDividend |
Feb 26, 2020 | $0.034 | OrdinaryDividend |
Jan 29, 2020 | $0.034 | OrdinaryDividend |
Dec 30, 2019 | $0.041 | OrdinaryDividend |
Nov 29, 2019 | $0.032 | OrdinaryDividend |
Oct 31, 2019 | $0.032 | OrdinaryDividend |
Sep 30, 2019 | $0.032 | OrdinaryDividend |
Aug 30, 2019 | $0.032 | OrdinaryDividend |
Jul 31, 2019 | $0.032 | OrdinaryDividend |
Jun 28, 2019 | $0.032 | OrdinaryDividend |
May 31, 2019 | $0.032 | OrdinaryDividend |
Apr 30, 2019 | $0.032 | OrdinaryDividend |
Mar 29, 2019 | $0.032 | OrdinaryDividend |
Feb 28, 2019 | $0.032 | OrdinaryDividend |
Jan 31, 2019 | $0.032 | OrdinaryDividend |
Dec 28, 2018 | $0.034 | OrdinaryDividend |
Nov 30, 2018 | $0.034 | OrdinaryDividend |
Oct 31, 2018 | $0.034 | OrdinaryDividend |
Aug 31, 2018 | $0.034 | OrdinaryDividend |
Jul 31, 2018 | $0.034 | OrdinaryDividend |
Jun 29, 2018 | $0.034 | OrdinaryDividend |
May 31, 2018 | $0.034 | OrdinaryDividend |
Apr 26, 2018 | $0.034 | OrdinaryDividend |
Mar 29, 2018 | $0.034 | OrdinaryDividend |
Feb 28, 2018 | $0.034 | OrdinaryDividend |
Jan 31, 2018 | $0.034 | OrdinaryDividend |
Dec 28, 2017 | $0.034 | OrdinaryDividend |
Nov 30, 2017 | $0.034 | OrdinaryDividend |
Oct 31, 2017 | $0.034 | OrdinaryDividend |
Sep 29, 2017 | $0.034 | OrdinaryDividend |
Aug 31, 2017 | $0.034 | OrdinaryDividend |
Jul 31, 2017 | $0.034 | OrdinaryDividend |
Jun 30, 2017 | $0.034 | OrdinaryDividend |
May 31, 2017 | $0.034 | OrdinaryDividend |
Apr 28, 2017 | $0.034 | OrdinaryDividend |
Mar 31, 2017 | $0.034 | OrdinaryDividend |
Feb 28, 2017 | $0.034 | OrdinaryDividend |
Jan 31, 2017 | $0.034 | OrdinaryDividend |
Dec 29, 2016 | $0.033 | OrdinaryDividend |
Nov 30, 2016 | $0.033 | OrdinaryDividend |
Oct 31, 2016 | $0.033 | OrdinaryDividend |
Sep 30, 2016 | $0.033 | OrdinaryDividend |
Aug 31, 2016 | $0.033 | OrdinaryDividend |
Jul 29, 2016 | $0.033 | OrdinaryDividend |
Jun 30, 2016 | $0.033 | OrdinaryDividend |
May 31, 2016 | $0.033 | OrdinaryDividend |
Mar 31, 2016 | $0.033 | OrdinaryDividend |
Sep 30, 2015 | $0.048 | OrdinaryDividend |
Mar 31, 2015 | $0.034 | OrdinaryDividend |
Sep 30, 2014 | $0.047 | OrdinaryDividend |
Mar 31, 2014 | $0.044 | OrdinaryDividend |
Sep 30, 2013 | $0.051 | OrdinaryDividend |
Mar 28, 2013 | $0.048 | OrdinaryDividend |
Dec 31, 2012 | $0.124 | OrdinaryDividend |
Sep 28, 2012 | $0.031 | OrdinaryDividend |
Jun 29, 2012 | $0.028 | OrdinaryDividend |
Mar 30, 2012 | $0.039 | OrdinaryDividend |
Dec 30, 2011 | $0.117 | OrdinaryDividend |
Sep 30, 2011 | $0.042 | OrdinaryDividend |
Jun 30, 2011 | $0.024 | OrdinaryDividend |
Mar 31, 2011 | $0.032 | OrdinaryDividend |
Dec 31, 2010 | $0.126 | OrdinaryDividend |
Sep 30, 2010 | $0.035 | OrdinaryDividend |
Jun 30, 2010 | $0.015 | OrdinaryDividend |
Mar 31, 2010 | $0.014 | OrdinaryDividend |
Dec 31, 2009 | $0.076 | OrdinaryDividend |
Sep 30, 2009 | $0.047 | OrdinaryDividend |
Jul 02, 2009 | $0.013 | OrdinaryDividend |
Apr 02, 2009 | $0.053 | OrdinaryDividend |
Dec 31, 2008 | $0.100 | OrdinaryDividend |
Oct 02, 2008 | $0.027 | OrdinaryDividend |
Jul 02, 2008 | $0.025 | OrdinaryDividend |
Mar 19, 2008 | $0.013 | OrdinaryDividend |
Dec 31, 2007 | $0.161 | OrdinaryDividend |
Sep 19, 2007 | $0.030 | OrdinaryDividend |
Jun 19, 2007 | $0.031 | OrdinaryDividend |
Mar 19, 2007 | $0.002 | OrdinaryDividend |
Dec 29, 2006 | $0.149 | OrdinaryDividend |
FBRLX - Fund Manager Analysis
Managers
Thomas Nelson
Start Date
Tenure
Tenure Rank
May 01, 2011
11.09
11.1%
Thomas Nelson is the director of portfolio management and a senior vice president for Franklin Templeton Investment Solutions (FTIS). He graduated from the University of Delaware with a B.S. in accounting. As the director of portfolio management and a member of the Investment Strategy and Research Committee, Mr. Nelson manages several Franklin Templeton global mutual funds. He is also a chartered member of the CFA Institute and part of the New York Society of Security Analysts and Chartered Alternative Investment Analyst Association.
Wylie Tollette
Start Date
Tenure
Tenure Rank
Apr 16, 2021
1.12
1.1%
Mr. Tollette first joined Franklin Templeton in 1994, left the company in 2014 and rejoined again in 2018.
Berkeley Revenaugh
Start Date
Tenure
Tenure Rank
Apr 16, 2021
1.12
1.1%
Ms. Revenaugh has been a co-lead portfolio manager since April 2021. She joined Franklin Templeton in 2019. Prior to joining Franklin Templeton, she was a portfolio strategist and a member of the investment committee with Windward Investment Management.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 17.59 | 6.51 | 3.75 |