Morningstar

Franklin Managed Income Fund Class R6 FBFRX

Morningstar Medalist Rating
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Medalist Rating as of See Franklin Templeton Investment Hub
  • NAV / 1-Day Return $13.49  /  −0.15 %
  • Fund Size $3.4B
  • Adjusted Expense Ratio 0.590%
  • Net Expense Ratio 0.590%
  • Fee Level: Distribution Average
  • Share Class Type Retirement, Large
  • Morningstar Category Moderately Conservative Allocation
  • Equity Style Box (Funds) Large Value
  • Fixed-Income Style Box (Funds) Medium/Moderate
  • Investment Status Open
  • TTM Yield 4.80%
  • Turnover Ratio 42%
NAV and 1-Day Return as of

Morningstar’s Analysis FBFRX

Will FBFRX 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 FBFRX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FBFRX 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 FBFRX’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 FBFRX

More FBFRX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 18.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Government National Mortgage Association 5.5%

2.63 86M
Securitized

Government National Mortgage Association 5.5%

2.03 66M
Securitized

Chevron Corp

2.03 66M
Energy

Procter & Gamble Co

2.00 65M
Consumer Defensive

ExxonMobil Holdings Corp

1.99 65M
Energy

Cisco Systems Inc

1.73 57M
Technology

U.S. Treasury Bond Stripped Principal Payment 0%

1.67 55M
Government

United States Treasury Bonds 5.125%

1.56 51M
Government

Texas Instruments Inc

1.37 45M
Technology

The Home Depot Inc

1.30 43M
Consumer Cyclical

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