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Franklin Floating Rate Daily Access Fund

Fund Category: Fixed IncomeGo to Prices & Performance page
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Symbol FAFRX
CUSIP 353 612 823
Fund Number 489
Inception Date1 May 01, 2001
Distributions Monthly
Total Net Assets
(all share classes)
As of 10/31/2015

As of  11/25/2015

NAV2 $8.45  
NAV Change -$0.01  
POP3 $8.64  
YTD Total Return at NAV -1.19%
Distribution Rate at NAV 5.01%
30-day Standardized Yield4 w/ Waiver w/o Waiver
As of 10/31/2015
(updated monthly)
5.92% 5.91%

Average Annual Total Returns
As of Quarter End 09/30/2015

w/ Sales Charge w/o Sales Charge
1 Yr -2.40% -0.14%
5 Yrs 2.94% 3.42%
10 Yrs 2.88% 3.11%
Life 3.35% 3.51%

Expense Ratio and Sales Charge As of 03/01/2015 (updated annually)

Gross Expense Ratio5 0.85%
Net Expense Ratio 0.84%
Max Initial Sales Charge 2.25%
CDSC 0.00%
12b-1 Fee 0.25%

Fund Description

Strategy Statement
Portfolio Managers
Madeline Lam
"We invest in floating-rate loans, which pay interest that adjusts periodically to current rates, generally making them less sensitive to interest rate volatility than fixed-rate securities."

Madeline Lam
Joined Franklin Templeton in 1998
Managed Fund Since 2001

Strategy, Benefits, Results


  • We invest predominantly in floating interest rate senior secured corporate loans and corporate debt securities.
  • We seek higher credit-quality loans that may potentially help the fund maintain a more stable net asset value than the fund's benchmark index.
  • We look for companies with strong management teams and market leadership.


  • Dedicated Floating Rate Research Team. We have a team solely focused on floating-rate loans analysis, separate from high-yield bonds.
  • Access to In-Depth Investment Expertise. Whether we want to look at a security from a credit or equity perspective to get a holistic understanding of the security, we have the ability to draw upon the extensive research resources of Franklin Templeton's fixed income and equity teams.
  • Diversified Portfolio. The fund's diversification helps to potentially reduce credit risk by spreading assets across many different issuers and industries.


Hypothetical $10K Investment

Hypothetical $10K Investment

Investing in the Fund

What Are the Risks?
  • All investments involve risks, including possible loss of principal.
  • Investors should be aware that the fund’s share price and yield will fluctuate with market conditions.
  • The fund should not be considered an alternative to money market funds or certificates of deposit (CDs).
  • The floating-rate loans and debt securities in which the fund invests tend to be rated below investment-grade.
  • Investing in higher-yielding, lower-rated, floating-rate loans and debt securities involves greater risk of default, which could result in loss of principal—a risk that may be heightened in a slowing economy.
  • Interest earned on floating-rate loans varies with changes in prevailing interest rates; therefore, while floating-rate loans offer higher interest income when interest rates rise, they will also generate less income when interest rates decline.
  • These and other risks considerations are discussed in the fund’s prospectus.

Minimum Investment


How Financial Advisors Help You

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Important Legal Information


For US residents only.