Equity
FDYNX Franklin DynaTech Fund
- Participate in trends moving markets. Invest in companies across multiple sectors, including technology, health care and global communications, that managers believe are leaders in innovation.
- Experienced portfolio management Team. Actively managed by a seasoned portfolio management team that is based in Silicon Valley and has history of investing in "Dynamic Technology" since 1968.
- Complement your portfolio. Can be used as a core US equity holding or as a satellite position in your portfolio to help increase exposure to innovation themed companies.
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Manager and Commentary
About the Team
Franklin Equity understands innovation from every angle—our decades of experience investing in complex change fuels a differentiated perspective on how public and private companies accelerate growth and unlock value. Leveraging fundamental depth and quantitative precision, we identify catalysts for transformation that reshape companies and industries. Our expertise, spanning from growth to value, brings together diverse perspectives that help us spot opportunities ahead of the market.
Commentary Highlights
March 31, 2026- Markets: Global equity markets generally declined during the first quarter of 2026 (1Q26) amid heightened volatility, as geopolitical tensions and shifting macroeconomic dynamics weighed on investor sentiment. The conflict in the Middle East emerged as a key destabilizing factor, disrupting energy markets and amplifying inflationary pressures globally. Value stocks outperformed their growth-oriented peers, reflecting a rotation away from high-valuation-multiple sectors amid rising inflation concerns. Large-capitalization equities generally underperformed those in the mid- and small-cap tiers, as investors sought opportunities in more cyclically sensitive areas of the market. Sector rotation saw commodity-linked industries benefit from higher energy prices, while the information technology (IT) and consumer discretionary sectors faced pressure amid concerns over AI-driven disruptions to established business models.
- Detractors: Unfavorable stock selection in the consumer discretionary, health care and financials sectors, plus a lack of exposure to consumer staples, materials, real estate and utilities companies.
- Contributors: Effective security selection in the semiconductors and semi equipment industry; an underweighted exposure to poor-performing software stocks; and beneficial stock selection among pharmaceuticals companies.
- Outlook: We are enthusiastic about current and potential productivity gains from AI as its use cases evolve. Generative and agentic AI continue to advance rapidly, with returns on investment increasingly visible as deployments scale beyond experimentation.