![[Michael Kagans avatar]](https://franklintempletonprod.widen.net/content/xsbdoihtgq/webp/Kagan_Michael_500x500.png){kind=avatar}
Managed Strategy Since 2003
Overview
Product Facts
Strategy description
Franklin Templeton Appreciation Balanced Tax Favored Portfolios seek long-term capital appreciation by emphasizing blue-chip growth and value stocks and utilizing municipal bonds to manage portfolio volatility and offer a balanced approach to diversification.
- Benchmark
- 60% S&P 500 Index, 40% Bloomberg Muni 5 Yr
- Inception Date
- 03/31/2003
- Asset Class
- Multi-Asset
- Number of Issuers
As of 10/31/2025 (Updated Monthly) - 59
Average Annual Total Returns As of 10/31/2025
- 10.01%1 Year
- 9.39%3 Years
- 6.45%5 Years
- 5.07%10 Years
- 4.75%Since Inception
03/31/2003
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Manager and Commentary
About the Team
ClearBridge Investments
ClearBridge Investments is a well-established global investment manager focusing on proprietary research and fundamental investing. With over 60 years of experience building portfolios for clients seeking income solutions, high active share or low-volatility, long-tenured portfolio managers provide strong leadership in a centralized investment structure.
Western Asset
Western Asset Management is one of the world's leading global fixed income managers. Founded in 1971, the firm is known for team management and proprietary research, supported by robust risk management and a long-term fundamental value approach.
Multi-Managed
![[Stephen Rigos avatar]](https://franklintempletonprod.widen.net/content/s4jsl5u1aj/webp/Rigo_Stephen_500x500.png){kind=avatar}
Managed Strategy Since 2016
Composite Performance
Risk/Return Profile (%)
Based on a 10 year period ending Sep-30-2025
The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Past performance is not a guarantee of future results. An investment in this strategy can lose value.
Performance data represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Periods less than one year are not annualized. Performance results are for the composite which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or "true") gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of "true" gross-of-fee returns for non-wrap accounts and "pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” (3.0% is the maximum anticipated wrap fee for equity and balanced portfolios) which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary.
For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.
Portfolio
Positions
As of 10/31/2025 (Updated Monthly)
Number of Issuers
- Portfolio
- 59
- Benchmark
- 503
Portfolio Statistics
As of 10/31/2025 (Updated Monthly)
Cash Flow 1
- Portfolio
- 3.08%
- Benchmark
- —
- Portfolio
- 11.49%
- Benchmark
- 12.01%
- Portfolio
- $746.08 Billion
- Benchmark
- $415.43 Billion
- Portfolio
- 3.16%
- Benchmark
- —
- Portfolio
- 8.96x
- Benchmark
- 8.32x
- Portfolio
- 5.76 Years
- Benchmark
- —
- Portfolio
- 26.99x
- Benchmark
- 25.24x
- Portfolio
- 1.04%
- Benchmark
- 1.12%
- Portfolio
- $1,460.69 Billion
- Benchmark
- $1,441.04 Billion
Portfolio characteristics and composition are currently inaccessible at the representative account level for the Appreciation BTF portfolio. In lieu of this, the following pages show portfolio characteristics for a model portfolio of Appreciation Portfolio (Source: FactSet) for the equity portion and for the aggregate of individual client portfolios in the Current Market Muni (Source: InvestorTools) program for the fixed income portion. Portfolio characteristics are subject to change at any time. Portfolio characteristics of individual client portfolios in the program may differ, sometimes significantly, from those shown above.
Market Capitalization Allocation
As of 09/30/2025 % of Equity (Updated Quarterly)
| Market Capitalization | Portfolio |
|---|---|
| 10-50 Billion | 5.93% |
| 50-250 Billion | 28.90% |
| 250-500 Billion | 13.08% |
| >500 Billion | 52.09% |
Portfolio characteristics and composition are currently inaccessible at the representative account level for the Appreciation BTF portfolio. In lieu of this, the following pages show portfolio characteristics for a model portfolio of Appreciation Portfolio (Source: FactSet) for the equity portion and for the aggregate of individual client portfolios in the Current Market Muni (Source: InvestorTools) program for the fixed income portion. Portfolio characteristics are subject to change at any time. Portfolio characteristics of individual client portfolios in the program may differ, sometimes significantly, from those shown above.
Documents
Product Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Templeton Appreciation Balanced Tax-Favored Portfolios (60/40) | |||
| FTPPG Regulatory Disclosures | |||
| Pitchbook - Franklin Templeton Appreciation Balanced Tax-Favored Portfolios SMA |
Risks
All investments involve risks, including possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Liquidity risk exists when securities or other investments become more difficult to sell, or are unable to be sold, at the price at which they have been valued.
Important Information
Separately Managed Accounts (SMAs) are investment services provided by Franklin Templeton Private Portfolio Group, LLC (FTPPG), a federally registered investment adviser. Client portfolios are managed based on investment instructions or advice provided by one or more of the following Franklin Templeton affiliated sub-advisers: ClearBridge Investments, LLC, and Western Asset Management, LLC. Management is implemented by FTPPG, the designated sub-adviser or, in the case of certain programs, the program sponsor or its designee.
Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares. Returns reflect reinvestment of dividends and capital gains. Performance figures for periods shorter than one year represent cumulative figures and are not annualized. All performance is reported in US dollars.
ClearBridge Investments, LLC, Franklin Templeton Investment Solutions, Martin Currie, Royce Investment Partners, Western Asset Management Company, LLC, and Franklin Templeton claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
Professional money management may not be suitable for all investors. Factual information relating to the securities discussed was obtained from sources believed to be reliable, but there can be no guarantee as to its accuracy. It should not be assumed that investments made in the future will be profitable or will equal the performance of the securities discussed in the material.
You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.
Franklin Templeton (FT) is not undertaking to provide impartial advice. Nothing herein is intended to provide fiduciary advice. FT has a financial interest.
Important data provider notices and terms available at www.franklintempletondatasources.com.
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.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization. The Bloomberg Five-Year Municipal Bond Index is a broad measure of the municipal bond market with maturities of approximately five years. Source: © S&P Dow Jones Indices LLC. All rights reserved. Bloomberg Indices.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Source: © S&P Dow Jones Indices LLC. All rights reserved.
All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.