Fund Description

The fund's investment goal is to maximize total return by emphasizing high current income and long-term capital appreciation, consistent with reasonable risk. The fund normally invests at least 80% of its net assets in equity securities, with a focus on financially-strong "blue chip" companies, and the remainder of its assets in other equity-related instruments such as convertible securities and equity-linked notes.

Strategy Statement

"We believe the fund provides opportunity to participate in the growth potential of the equity market, while seeking high current income and reduced overall risk."


Matt Quinlan

Matt Quinlan

  • Joined Franklin Templeton in 2005
  • Managed Fund Since 2011
Alan Muschott, CFA

Alan Muschott, CFA®

  • Joined Franklin Templeton in 1998
  • Managed Fund Since 2005
Todd Brighton, CFA

Todd Brighton, CFA®

  • Joined Franklin Templeton in 2000
  • Managed Fund Since 2015


Investment Philosophy

Income-Oriented "Blue Chip" Companies
We seek to invest in financially-strong companies that have track records of providing a high dividend yield. We believe our bottom-up approach of seeking to invest in securities that can produce income and that are issued by companies with the potential for capital appreciation can provide strong, long-term results.

Fundamental Bottom-Up
We employ a bottom-up process to analyze companies and industries. Generally, we seek to exploit a fundamental view that can differ from the "market consensus" regarding growth potential or valuation.

Diversified Portfolio
We believe in investing in a diverse set of securities across industry sectors.

Long-Term Investors
We seek to invest in financially strong "blue chip" companies with favorable secular growth potential, and sustainable competitive advantages. Our analysis includes an assessment of any material Environmental, Social and Governance (ESG) factors on the long-term risk and return profile of a company. We apply a long-term perspective through the spectrum of market cycles.

Investment Process


Overall Morningstar Rating As of 08/31/2021

Rating Category: Large Value

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 08/31/2021

Years Ratings Funds
in category
4 Stars
4 Stars
4 Stars

Morningstar Style Box As of07/31/2021

Strategy, Benefits, Results


  • We search for high-quality companies with strong balance sheets and a distinct industry advantage.
  • We seek larger-cap companies that have track records of paying above-average dividend yields.
  • We further diversify the fund by investing in convertible securities and fixed-income investments.


  • Experienced management team with over 57 years of combined industry experience.
  • Distinctive risk/reward profile.
  • Broad diversification spread across multiple asset classes.