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.
Franklin Equity Income A FISEX
- NAV / 1-Day Return 31.93 / −0.19 %
- Total Assets 3.9 Bil
-
Adj. Expense Ratio
- Expense Ratio 0.830%
- Distribution Fee Level Low
- Share Class Type Front Load
- Category Large Value
- Investment Style Large Value
- Min. Initial Investment 1,000
- Status Open
- TTM Yield 2.33%
- Turnover 29%
USD | NAV as of Jul 05, 2024 | 1-Day Return as of Jul 05, 2024, 10:18 PM GMT+0
Morningstar’s Analysis FISEX
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Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 28.5
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
JPMorgan Chase & Co | 4.74 | 183.4 Mil | Financial Services |
Morgan Stanley | 3.42 | 132.4 Mil | Financial Services |
Chevron Corp | 3.33 | 129.0 Mil | Energy |
Bank of America Corp | 2.84 | 109.7 Mil | Financial Services |
Johnson & Johnson | 2.70 | 104.6 Mil | Healthcare |
Procter & Gamble Co | 2.63 | 101.6 Mil | Consumer Defensive |
Oracle Corp | 2.36 | 91.3 Mil | Technology |
Broadcom Inc | 2.33 | 90.0 Mil | Technology |
Duke Energy Corp | 2.20 | 85.1 Mil | Utilities |
Franklin IFT Money Market | 2.06 | 79.7 Mil | Cash and Equivalents |