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Managed Fund Since 2023
Fixed Income
FLDBX Franklin Long Duration Credit Fund
- Aims for Additional Source of Alpha: The portfolio construction process supplements traditional sources of value add like sector allocation and security selection, providing an additional source of potential alpha.
- Risk Mitigation: As part of the investment process, portfolios are stress-tested through different interest rate and credit scenarios, with the objective of building portfolios that deliver favorable outcomes relative to the benchmark during periods of heightened market volatility.
- Pure IG Credit Exposure: The strategy has little to no exposure in off-benchmark security types (high yield, credit, structured products, etc.) and invests predominately in investment grade securities. Portfolios are managed to be neutral from a duration and beta perspective relative to benchmarks, seeking to minimize further, unintended credit risk.
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NAV
$9.98
As of 06/12/2026
Total Net Assets
$62.86M
As of 05/31/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The Fund’s investment goal is to seek to maximize risk-adjusted returns through a combination of income and capital appreciation.
- Benchmark
- Bloomberg U.S. Long Credit Index
- Dividend Frequency, if any
- Monthly
- Fund Inception Date
- 08/22/2023
- Distribution Rate at NAV
As of 06/12/2026 (Updated Daily) - 5.45%
- Effective Duration
As of 05/31/2026 (Updated Monthly) - 12.38 Years
Sales Charges, Expenses & Fees
- Gross Expense Ratio
- 0.53%
- Net Expense Ratio
- 0.30%
- Maximum Initial Charge
- —
- CDSC
- N/A
- 12b-1 Fee
- N/A
Identifiers
- Ticker
- FLDBX
- Fund Number
- 814
- CUSIP Code
- 353612369
Average Annual Total Returns As of 05/31/2026
Class R6
- 7.52%1 Year
- —3 Years
- —5 Years
- —10 Years
- 6.03%Since Inception
08/22/2023
Top Sectors
As of 05/31/2026 % of Total (Updated Monthly)
Consumer Non-Cyclical18.34% | |
Electric10.97% | |
Banking9.15% | |
Technology8.99% | |
Communications8.82% |
Additional Fund Info
- Share Class Inception Date
- 08/22/2023
- Investment Style
- Corporate Credit
- Lipper Classification
- Corporate Debt Funds BBB-Rated
- Morningstar Category
- Long-Term Bond
Manager and Commentary
About the Team
Franklin Templeton Fixed Income
A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-driven approach means maintaining portfolio and risk exposures that align with client expectations.
Franklin Templeton Fixed Income
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Managed Fund Since 2023
![[Andrew C Bensons avatar]](https://franklintempletonprod.widen.net/content/dnwdsns656/webp/Benson_Andrew_500x500.png){kind=avatar}
Managed Fund Since 2024
Latest Insights
June 8, 2026
April 29, 2026
Performance
Portfolio
Distributions & Tax
Pricing
Documents
Important Information
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.