Fund Description

The fund seeks to maximize income, while maintaining prospects for capital appreciation, by investing in a diversified portfolio of stocks and bonds.

Strategy Statement

"We follow a flexible, value-oriented investment philosophy seeking income and long-term capital appreciation potential by investing in dividend-paying stocks, convertible securities and bonds."

Edward D. Perks, CFA®

Management

Edward D. Perks, CFA

Edward D. Perks, CFA®

  • Joined Franklin Templeton in 1992
  • Managed Fund Since 2002
Matt Quinlan, MBA

Matt Quinlan, MBA

  • Joined Franklin Templeton in 2005
  • Managed Fund Since 2012
Todd Brighton, CFA

Todd Brighton, CFA®

  • Joined Franklin Templeton in 2000
  • Managed Fund Since 2017
Richard Hsu, CFA

Richard Hsu, CFA®

  • Joined Franklin Templeton in 1996
  • Managed Fund Since 2017

Rating

Overall Morningstar Rating As of 10/31/2017

Rating Category: Allocation--30% to 50% Equity

Morningstar
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 10/31/2017

Years Ratings Funds
in category
3
3 Stars
382
5
4 Stars
340
10
3 Stars
247

Morningstar Style Box As of09/30/2017

Strategy, Benefits, Results

Strategy

We seek to maximize income, while maintaining prospects for capital appreciation over the long term.

  • Using a value-oriented approach, we screen a broad universe of securities across asset classes, looking for those that we believe are undervalued or out-of-favor.
  • The fund has no set proportions on its allocations, which allows us to be flexible and actively select securities that present the best opportunities as market conditions change.
  • We tap the sector expertise of Franklin's equity and credit analysts when selecting investments for the fund, which helps maintain the fund's highly diversified approach.

Benefits

  • A Record of Consistent Dividends. Our fund's Class A shares have paid uninterrupted dividends for over 65 calendar years.i.
  • Broad Diversification. Our fund has a diversified portfolio across several different asset classes, including dividend-paying stocks, bonds and convertible securities.
  • Experienced Management Team. Managers Ed Perks, Matt Quinlan, Todd Brighton and Richard Hsu have managed the fund since 2002, 2012, 2017 and 2017, respectively.

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. Thus, as the prices of bonds in the fund adjust to a rise in interest rates, the fund’s share price may decline.
  • Changes in the financial strength of a bond issuer or in a bond’s credit rating may affect its value.
  • The fund’s portfolio includes a substantial portion of higher-yielding, lower-rated corporate bonds because of the relatively higher yields they offer.
  • Floating-rate loans are lower-rated, higher-yielding instruments, which are subject to increased risk of default and can potentially result in loss of principal. These securities carry a greater degree of credit risk relative to investment-grade securities.
  • 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 discussed in the fund’s prospectus.

Minimum Investment

$1,000.00

How Financial Advisors Help You

Speak to your advisor about whether this fund is appropriate for you.

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

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