Franklin Equity Income C FRETX

Todd Brighton stepped down as comanager of Franklin Equity Income effective Feb. 29, 2024, a spokeswoman confirmed. Brighton had overseen the equity-linked note portion of the portfolio, which lead manager Matt Quinlan also helped run. The move was brought on by Brighton’s growing account and client responsibilities at Franklin Income Investors, a specialist investment team within the firm, which Brighton moved to in October 2022. Brighton is the lead manager on Franklin US Low Volatility ETF and comanages, among others, the Franklin Income Fund. He had joined Franklin Equity Group, which manages this strategy, when he joined the firm in 2000. Quinlan is able to manage the ELNs in Brighton’s absence. He and the analysts supporting him have been involved in identifying and selecting ELNs in the past, and these selections often overlap with companies whose common stocks are held in the portfolio. Therefore, Brighton’s departure does not affect this strategy’s Average People Pillar rating nor its Morningstar Medalist Rating.