Renowned publicly owned global investment management firm, Franklin Resources, Inc., along with its subsidiaries, is referred to as Franklin Templeton Investments. The company manages assets worth over $737.3 billion (as of May 31, 2016) based on assets raised in the country or region. It has more than 600 investment professionals across the world. It offers investment management strategies and integrated risk management solutions to individuals, institutions, pension plans, trusts and partnerships. It invests in public equity, fixed income and alternative markets. It was founded in 1947 and is headquartered in San Mateo, California.
Below we share with you 4 top-rated Franklin Templeton mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and we expect the fund to outperform its peers in the future.
Franklin California Insured Tax-Free Income Fund Adv (MUTF:FZCAX) invests a lion's share of its assets in securities that pay interest free from federal income taxes. FZCAX seeks a high income level which is exempted from federal income taxes and California personal income taxes. As of July 18, 2016, Franklin CA Insured Tax-Free Inc Advisor fund returned 8.6% in the last one year.
As of March 2016, FZCAX held 250 issues, with 4.1% of its assets invested in Alameda Corridor Transportation Authority 5.25%.
Franklin Convertible Securities Fund Adv (MUTF:FCSZX) seeks maximum total return through appreciation of capital and a high level of current income. FCSZX invests a major portion of its assets in convertible securities. Though FCSZX may invest all of its assets in non-investment grade securities, it invests a maximum of 10% of its assets in unrated securities or that are rated below B. The fund may also invest not more than one-fifth of its assets in securities including common and preferred stocks. As of July 15, 2016, Franklin Convertible Securities Advisor fund returned 3.8% in the last one year.
FCSZX has an expense ratio of 0.61% as compared to a category average of 1.31%.
Franklin Balanced Fund Adv (MUTF:FBFZX) generally invests in diversified portfolios, which include dividend paying stocks, debt securities and convertible securities. FBFZX seeks growth of both capital and income. The fund invests more than 25% of its assets in bonds, debentures and other debt securities. It also invests more than one-fourth of its assets in preferred and common stocks. As of July 15, 2016, Franklin Balanced Advisor fund returned 5.6% in the last one year.
As of March 2016, FBFZX held 150 issues, with 1.6% of its assets invested in JPMorgan Chase & Co. (NYSE:JPM).
Franklin California Insured Tax-Free Income Fund A (MUTF:FRCIX) seeks a high level of current income exempted from federal income taxes and California personal income taxes. FRCIX invests the majority of its assets in securities that pay interest free from federal income taxes. The fund also invests a minimum 65% of its assets in California municipal securities, while it may invest a maximum 35% of its assets in municipal securities issued by US territories. As of July 15, 2016, Franklin CA Insured Tax-Free Income A fund returned 8.7% in the last one year.
FRCIX has an expense ratio of 0.59% as compared to a category average of 0.89%.