Franklin Managed Income A
FBLAX
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- Franklin Managed Income Fund Class A (FBLAX) is an open-end mutual fund managed by Franklin Templeton that seeks to maximize income to support monthly distributions while maintaining prospects for capital appreciation. The fund invests in a diversified, actively managed portfolio of fixed income securities, including U.S. investment-grade bonds, corporate debt, securitized products, U.S. Treasuries, and non-U.S. bonds; equity securities, primarily large-cap U.S. value stocks with dividend yields such as those in energy, healthcare, technology, utilities, and consumer defensive sectors; convertible securities and equity-linked notes; and cash equivalents. It employs a managed distribution policy providing fixed monthly income distributions predetermined annually, with a distribution rate at NAV of 4.44% as of December 9, 2025, and assets under management totaling approximately $3.36 billion across 161 holdings as of November 30, 2025. Originally launched as Franklin Balanced Fund on July 3, 2006, and headquartered in San Mateo, California, under Franklin Templeton, the fund was repositioned on March 1, 2019, with a name change to Franklin Managed Income Fund, adoption of its current income-focused strategy, revised dividend policy, adjusted investment management fees, and a new primary benchmark linking 60% Bloomberg U.S. Aggregate Index and 40% MSCI USA High Dividend Yield Index. Portfolio management is led by Edward Perks since inception, with Todd Brighton since March 1, 2017, and Brendan Circle since March 1, 2019, drawing on over 65 years of combined experience from Franklin Income Investors, a team specializing in multi-asset income strategies. In a significant operational change effective January 9, 2025, the fund lowered its Class A share net asset value breakpoint from $1,000,000 to $250,000 to enhance accessibility, while introducing a 1% contingent deferred sales charge on purchases of $250,000 or more if sold within 18 months. The fund targets U.S. investors seeking moderately conservative allocation exposure, categorized by Morningstar as Moderately Conservative Allocation with a net expense ratio of 0.90% and a 5.50% front-end load, available primarily in the United States.