![[Edward D. Perkss avatar]](https://franklintempletonprod.widen.net/content/myluatiyuw/webp/Perks_Ed_500x500.png){kind=avatar}
Managed Fund Since 2002
Multi-Asset
Franklin Income VIP Fund
- A record of consistent dividends. For over 75 years, Franklin Income Fund has paid uninterrupted dividends. (as of June 30, 2025).
- Experienced portfolio management team. Portfolio managers Ed Perks, Brendan Circle, and Todd Brighton bring over 65 years of combined experience.
- Broad diversification and dynamic. Utilizes a flexible multi-asset approach to income generation that dynamically allocates across equities, fixed income, and hybrid securities.
Popular Documents
Total Net Assets
$3.34B
As of 01/31/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks to maximize income while maintaining prospects for capital appreciation. The fund may invest in equity and debt securities and may invest all of its assets in below investment grade debt securities.
- Benchmark
- Blended 50% MSCI USA High Dividend Yield Index + 25% Bloomberg High Yield Very Liquid Index + 25% Bloomberg US Aggregate Index
- Fund Inception Date
- 01/24/1989
- Share Class Inception Date
- 02/29/2008
Identifiers
- Ticker
- —
- Fund Number
- 708
- CUSIP Code
- 355150160
- Bloomberg Code
- —
Top Asset Allocation
As of 01/31/2026 % of Total (Updated Monthly)
Fixed Income45.99% | |
Equity34.56% | |
Convertibles/Equity-Linked Notes17.20% | |
Cash & Cash Equivalents2.25% |
Additional Fund Info
- Asset Class
- Multi-Asset
- Morningstar Category
4 - Moderately Conservative Allocation
- Lipper Classification
- Flexible Portfolio Funds
- Investment Style
- Income
Manager and Commentary
About the Team
Franklin Income Investors
Franklin Income Investors has delivered consistent income for over 75 years. As pioneers in multi-asset income investing, our team takes a dynamic investment approach for investors seeking consistent income and growth.
Franklin Income Investors
![[Brendan Circles avatar]](https://franklintempletonprod.widen.net/content/qfyhqgdkcd/webp/Circle_Brendan_500x500.png){kind=avatar}
Managed Fund Since 2019
![[Todd Brightons avatar]](https://franklintempletonprod.widen.net/content/z1hwjxebpc/webp/Brighton_Todd_500x500.png){kind=avatar}
Managed Fund Since 2017
Latest Insights
November 11, 2025
August 4, 2025
May 5, 2025
Portfolio
Assets
As of01/31/2026 (Updated Monthly)
- Total Net Assets
- $3.34 Billion
Positions
As of 01/31/2026 (Updated Monthly)
Number of Issuers
- Fund
- 172
- Fund
- 102
- Fund
- 34
- Fund
- 56
- Fund
- 289
Portfolio Statistics
As of 01/31/2026 (Updated Monthly)
Price to Book
- Fund
- 3.38x
- Fund
- 13.79x
- Fund
- 22.42x
- Fund
- 9.40 Years
- Fund
- 4.27 Years
Asset Allocation
As of 01/31/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Fixed Income | 45.99% |
Equity | 34.56% |
Convertibles/Equity-Linked Notes | 17.20% |
Cash & Cash Equivalents | 2.25% |
Holdings
As of 12/31/2025 (Updated Monthly)
Johnson & Johnson COM USD1
Exxon Mobil Corp COM NPV
Chevron Corp COM USD.75
Merck & Co Inc COM USD.5
PepsiCo Inc COM USD.017
Procter & Gamble Co/The COM NPV
Cisco Systems Inc COM NPV
NextEra Energy Inc COM USD.01
Morgan Stanley COM USD.01
United States Treasury Note/Bond 3.625% 05/15/2053
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
Federal ID Number 94-3102967
For information on tax years prior to 2008, please contact usThese amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Data not currently available.
Documents
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Financial Statements and Other Information - Franklin Income VIP Fund | |||
| Annual Report - Franklin Income VIP Fund - Class 4 | |||
| Semi-Annual Report - Franklin Income VIP Fund - Class 4 | |||
| Semi-Annual Financial Statements and Other Information - Franklin Income VIP Fund | |||
| Prospectus - Franklin Templeton Variable Insurance Products | |||
| Summary Prospectus - Franklin Income VIP Fund | |||
| Statement of Additional Information - Franklin Templeton Variable Insurance Products | |||
| Fiscal Q1 Holdings - Franklin Templeton Variable Insurance Products | |||
| Fiscal Q3 Holdings - Franklin Templeton Variable Insurance Products |
Risks
All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. 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. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Depository receipts are subject to international investment risk and potentially negative effects from currency exchange rates, foreign taxation and differences in auditing and other financial standards. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.
Important Information
Franklin Income VIP Fund is a series of Franklin Templeton Variable Insurance Products Trust, shares of which are generally sold only to insurance company separate accounts to serve as investment options for variable insurance products.
Past performance is no guarantee of future results. These portfolios are available as investment options under a variable annuity or variable life contract. Shares of the portfolios are offered only to insurance company separate accounts that fund certain variable annuity or life contracts. These portfolios may not be available in all states and may only be offered in certain variable products. Please refer to the prospectuses. Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals made prior to age 59 1/2 are subject to a 10% IRS penalty charge and/or surrender charges. Investments in a variable annuity are subject to market risks, including loss of principal. Guarantees are based on the claims-paying ability of the insurer.
VARIABLE ANNUITIES ARE SOLD BY PROSPECTUS ONLY. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO CAREFULLY BEFORE INVESTING. THE PROSPECTUSES CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO. FOR A FREE PROSPECTUS ON THE UNDERLYING PORTFOLIO, PLEASE CLICK ON THE PROSPECTUS LINK. AN INVESTOR SHOULD READ THE PROSPECTUSES CAREFULLY BEFORE INVESTING.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.
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.
50% USA High Div Yield + 25% High Yield Very Liquid + 25% US Agg Index is composed of the Blended 50% MSCI USA High Dividend Yield Index + 25% Bloomberg High Yield Very Liquid Index + 25% Bloomberg US Aggregate Index.
The MSCI USA High Dividend Yield Index is designed to reflect the performance of mid- and large-cap equities (excluding REITs) with higher dividend income, which is sustainable and persistent, than average dividend yields of securities in the MSCI USA Index. The Bloomberg US High Yield Very Liquid Index (VLI) is a component of the US Corporate High Yield Index designed to track a more liquid component of the U.S. dollar-denominated, high-yield, fixed-rate corporate bond market. The Bloomberg US Aggregate Bond Index is comprised of investment-grade, U.S. dollar-denominated government, corporate, and mortgage- and asset-backed issues having at least one year to maturity.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Bloomberg Indices.
Franklin Distributors, LLC. Member FINRA/SIPC. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the fund are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call Franklin Templeton at (800) 530-2432 for more information.