Fund Description

The fund seeks to make monthly distributions, while preserving the investors' capital over the long term. The fund has a strategic allocation of assets primarily among equity and fixed-income underlying fund investments (largely Franklin Templeton funds) and an income generation strategy, which will include derivatives. The fund also employs a managed distribution policy that is designed to provide regular level monthly payments (in retirement plans that permit such cash distributions or if the fund is held outside of a qualified plan).

Strategy Statement

"We believe a stable and sustainable retirement income stream is best achieved through an active, multi-asset approach."


Thomas Nelson, CFA

Thomas Nelson, CFA®

  • Joined Franklin Templeton in 2007
  • Managed Fund Since 2007
Wylie Tollette, CFA

Wylie Tollette, CFA®

  • Joined Franklin Templeton in 1995
  • Managed Fund Since 2021
Berkeley Revenaugh

Berkeley Revenaugh

  • Joined Franklin Templeton in 2019
  • Managed Fund Since 2021


Overall Morningstar Rating As of 06/30/2021

Rating Category: Target-Date Retirement

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating As of 06/30/2021

Years Ratings Funds
in category
2 Stars
2 Stars

Morningstar Style Box As of05/31/2021

Strategy, Benefits, Results


  • The fund employs a managed distribution policy to deliver set monthly income payments
  • Fund managers choose a selection of fixed income funds, dividend-focused equity funds and alternative sources of income to achieve fund’s goal
  • Portfolio is actively managed to capitalize on market trends and mitigate risk through a diversified mix of asset classes, regions and sectors


  • Predetermined monthly distributions aim to provide consistency and predictability
  • Managed for changing markets with objective of achieving stable and sustainable income stream
  • Multilevel diversification reduces reliance on traditional sources of income while providing potential for capital preservation