Morningstar

Franklin Managed Income Fund Class A FBLAX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 13.63  /  +0.29 %
  • Total Assets 3.5B
  • Adj. Expense Ratio
    0.910%
  • Expense Ratio 0.910%
  • Distribution Fee Level Below Average
  • Share Class Type Front Load
  • Category Moderately Conservative Allocation
  • Investment Style Large Value
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Status Open
  • TTM Yield 4.27%
  • Turnover 42%

USD | NAV as of Jun 13, 2026 | 1-Day Return as of Jun 13, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FBLAX

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

  • People Pillar

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

More FBLAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 18.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Government National Mortgage Association 5.5%

2.87 99M
Securitized

Government National Mortgage Association 5.5%

2.18 75M
Securitized

Procter & Gamble Co

1.92 66M
Consumer Defensive

U.S. Treasury Bond Stripped Principal Payment 0%

1.84 64M
Government

Chevron Corp

1.82 63M
Energy

Exxon Mobil Corp

1.79 62M
Energy

United States Treasury Bonds 4.75%

1.67 58M
Government

Texas Instruments Inc

1.63 56M
Technology

PepsiCo Inc

1.61 55M
Consumer Defensive

Franklin Instl U.S. Govt Mny Mkt Fund

1.48 51M
Cash and Equivalents

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