Morningstar

Franklin Managed Income Fund Class R FBFQX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 13.10  /  +0.15 %
  • Total Assets 3.3B
  • Adj. Expense Ratio
    1.160%
  • Expense Ratio 1.160%
  • Distribution Fee Level Average
  • Share Class Type Retirement, Medium
  • Category Moderately Conservative Allocation
  • Investment Style Large Value
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Status Open
  • TTM Yield 4.26%
  • Turnover 42%

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FBFQX

Will FBFQX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FBFQX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FBFQX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FBFQX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A steady payout goal shapes both its appeal and its limits.

Senior Analyst Jodi Lim

Jodi Lim

Senior Analyst

Summary

Franklin Managed Income remains a differentiated yet moderately compelling option for income-focused investors. Its defining feature is an annual distribution framework, through which management sets a yearly payout target—4.81% for 2026—and structures the portfolio to support that level of current income. That clear goal helps distinguish it from moderately conservative Morningstar Category peers. Still, that same income orientation can constrain portfolio construction and create trade-offs that temper its appeal.

by Jodi Lim
Rated on Published on

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Portfolio Holdings FBFQX

More FBFQX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 18.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Government National Mortgage Association 5.5%

2.65 91M
Securitized

Government National Mortgage Association 5.5%

2.03 69M
Securitized

Chevron Corp

1.96 67M
Energy

Procter & Gamble Co

1.91 65M
Consumer Defensive

ExxonMobil Holdings Corp

1.88 64M
Energy

U.S. Treasury Bond Stripped Principal Payment 0%

1.78 61M
Government

Cisco Systems Inc

1.70 58M
Technology

United States Treasury Bonds 4.75%

1.62 56M
Government

The Home Depot Inc

1.44 49M
Consumer Cyclical

PepsiCo Inc

1.44 49M
Consumer Defensive

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