Franklin Income Fund Class R6 (FNCFX)

Franklin Income Fund is an open-end mutual fund that pursues a primary goal of maximizing income while also seeking capital appreciation. The fund adopts a flexible, multi-asset approach by investing in a diversified portfolio composed of both debt and equity securities, including common stocks, high-yield corporate bonds, convertible securities, U.S. Treasuries, and other asset-backed instruments. Notably, it may allocate up to 100% of its assets to debt securities that are below investment grade, reflecting its value-oriented, income-focused mandate. Managed by an experienced team, Franklin Income Fund employs a disciplined and opportunistic investment process, actively adjusting allocations between income-producing equities and fixed income depending on market conditions. It also makes regular use of derivatives and complex securities to enhance returns, improve liquidity, or manage risk. Its approach includes bottom-up security selection with an emphasis on undervalued or out-of-favor assets, aiming for consistent income generation. Monthly distributions are a hallmark of the fund, catering to investors seeking regular cash flow. Its broad diversification and dynamic allocation play a significant role in mitigating volatility, making the fund a notable player in the moderate allocation category within global capital markets.