Fund Description

The fund seeks to maximize income to support monthly distributions while maintaining the prospects for capital appreciation. The fund invests in a diversified portfolio of stocks and debt securities and employs a managed distribution policy that is intended to provide level monthly payments.

Strategy Statement

"By combining a diverse mix of income-oriented investments, we believe the fund could be an attractive choice for investors seeking a consistent level of monthly income distributions."

Edward D. Perks, CFA®


Edward D. Perks, CFA

Edward D. Perks, CFA®

  • Joined Franklin Templeton in 1992
  • Managed Fund Since 2006
Brendan Circle, CFA

Brendan Circle, CFA®

  • Joined Franklin Templeton in 2013
  • Managed Fund Since 2019
Todd Brighton, CFA

Todd Brighton, CFA®

  • Joined Franklin Templeton in 2000
  • Managed Fund Since 2017


Overall Morningstar Rating As of 06/30/2021

Rating Category: Allocation--50% to 70% Equity

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 06/30/2021

Years Ratings Funds
in category
3 Stars
2 Stars

Morningstar Style Box As of05/31/2021

Strategy, Benefits, Results


  • Manage Income Distributions. We set the fund’s fixed monthly
    income distribution rate each year based on the market environment and our outlook for income potential.

  • Diversify Holdings. We aim to create a diversified portfolio of
    stocks and fixed income securities to support monthly income distributions.

  • Research and Evaluate. We conduct a bottom-up assessment of company’s security prices and income potential relative to our own long-term expectations and portfolio goals.

  • Find the Right Mix. We actively seek an optimal mix of equity and fixed income investments by evaluating changing economic, market and industry conditions.


  • Fixed monthly income distributions, which are pre-determined for each calendar year.

  • Broadly diversified and actively managed to adapt to changing markets.

  • Experienced management team culled from Franklin Templeton Investment Solutions, Franklin Equity Group, and Franklin Templeton Fixed Income.

Investing In The Fund

What Are the Risks?

  • All investments involve risks, including possible loss of principal.
  • The fund’s share price and yield will be affected by interest rate movements.
  • Bond prices generally move in the opposite direction of interest rates. As the prices of bonds in the fund adjust to a rise in interest rates, the fund’s share price may decline.
  • Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions.
  • These and other risk considerations are described more fully in the prospectus.

Minimum Investment


How Financial Professionals Help You

Speak with your financial professional about whether this fund is appropriate for you.

Learn more from FINRA about How to Find and Work with an Investment Professional.