With around $763.9 billion assets under management, Franklin Templeton Investments is considered one of the well-known global investment management firms. Founded in 1947, the company offers investment management strategies and integrated risk management solutions to individuals, institutions, pension plans, trusts and partnerships. With over 650 investment professionals and offices in 35 countries, Franklin Templeton provides services in more than 180 countries. It manages a wide range of mutual funds across different categories, including both equity and fixed-income funds.
Below, we share with you four top-rated Franklin Templeton mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. To view the Zacks Rank and past performance of all Franklin Templeton mutual funds, investors can click here.
Franklin Corefolio Allocation Fund A (MUTF:FTCOX) seeks growth of capital. It invests an equal portion of its assets in Franklin Flex Cap Growth Fund, Franklin Growth Fund, Mutual Shares Fund and Templeton Growth Fund. Funds in which FTCOX allocates its assets tend to invest in both domestic and foreign securities. The fund has a one-month return of 4%.
T. Anthony Coffey is the fund manager of FTCOX since 2003.
Templeton Global Bond Fund A (MUTF:TPINX) invests a large chunk of its assets in bonds, including notes, bills and debentures. It primarily invests in debt securities of governments or those that are issued by government agencies. The fund invests in securities throughout the globe, and may allocate not more than 25% of its assets in securities that are considered below investment-grade. This is a non-diversified fund and has a one-month return of 2%.
TPINX has an expense ratio of 0.88%, compared to the category average of 1.03%.
Franklin Convertible Securities Fund A (MUTF:FISCX) seeks maximum total return through appreciation of capital and high level of current income. The fund invests the lion's share of its assets in convertible securities. Though FISCX may invest all of its assets in non-investment grade securities, it invests a maximum of 10% of its assets in unrated securities or those that are rated below B. It may also invest not more than 20% of its assets in securities including common and preferred stocks. The fund has a one-month return of 1.7%.
As of December 2015, FISCX held 75 issues, with 2.55% of its assets invested in Tyson Foods (NYSE:TSN).
Franklin California Tax Free Income Fund A (MUTF:FKTFX) invests a major portion of its assets in municipal securities that are rated investment-grade and exempted from federal alternative minimum tax as well as California personal income taxes. The fund may invest not more than 20% of its assets that are subject to the federal alternative minimum tax. A maximum of 35% of FKTFX's assets may be invested in securities of the U.S. territories. It has a one-month return of 0.9%.
FKTFX has an expense ratio of 0.58%, compared to the category average of 0.89%.