Fund Evaluator:
Franklin Managed Income C (FBMCX)
Follow This Fund
Best Performing in Moderately Conservative Allocation Over the Last Year
| 14.4% | Hennessy Balanced Investor (HBFBX) |
| 14.4% | Fidelity Strategic Real Return (FSRRX) |
| 14.3% | Fidelity Advisor Strategic Real Ret Z (FIQDX) |
| 12.8% | Fairholme Focused Income (FOCIX) |
| 12.4% | Victory Growth and Tax Strategy (USBLX) |
Fund Details
Franklin Managed Income C Overview
Franklin Managed Income C (FBMCX) is an actively managed Allocation Moderately Conservative Allocation fund. Franklin Templeton Investments launched the fund in 2006.
The investment seeks to maximize income to support monthly distributions, while maintaining the prospects for capital appreciation. The fund invests in a diversified portfolio of stocks (substantially dividend paying) and debt securities. It normally invests at least 25% of its total assets in debt securities, including bonds, notes, debentures and money market securities. In addition, the fund normally invests at least 25% of its total assets in equity securities, primarily common and preferred stock.
About Franklin Managed Income C (FBMCX)
There are 3 members of the management team with an average tenure of 12.31 years: Todd Brighton (2017), Brendan Circle (2019), Edward Perks (2006). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Franklin Managed Income C has 183 securities in its portfolio. The top 10 holdings constitute 18.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Franklin Managed Income C is part of the Allocation global asset class and is within the Allocation fund group. Franklin Managed Income C has 6.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 39.1%. There is 2.9% allocated to foreign stock, and 5.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 50.2% (46.5% domestic bond, 3.6% foreign bond and 0.0% convertible bond). Franklin Managed Income C has 2.7% of the portfolio in cash.
Assets Under Management
The fund has $60 million in total assets, which is below the $561 million average for the Moderately Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FBMCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Franklin Managed Income C expense ratio is high compared to funds in the Moderately Conservative Allocation category. Franklin Managed Income C has an expense ratio of 1.66%, which is 65% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Franklin Managed Income C has a portfolio turnover rate of 42%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 43% for the Moderately Conservative Allocation category.
Recently, in the month of July 2026, Franklin Managed Income C returned 0.8%, which earned it a grade of A, as the Moderately Conservative Allocation category had an average return of -0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Franklin Managed Income C has a trailing yield of 3.60%, which is above the 3.29% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Franklin Managed Income C Grades
Year to date, the fund has returned 6.5%, 1.8 percentage points better than the category, which translates into a grade of A. The fund has returned 12.9% over the past year (grade of A), 7.6% over the past three years (grade of F) and 4.4% per year over the past five years (grade of C) and 6.0% per year over the past 10 years (grade of C).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Franklin Managed Income C, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
FBMCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FBMCX Return (NAV) | 0.8% | 0.8% | 12.9% | 7.6% | 4.4% | 6.0% |
| FBMCX Grade | A | D | A | F | C | C |
| +/- Category | 1.1% | -0.4% | 2.5% | -1.8% | -0.3% | 0.0% |
| Moderately Conservative Allocation Avg | -0.3% | 1.2% | 10.4% | 9.4% | 4.6% | 6.0% |
| FBMCX Tax Cost Ratio | na | na | 1.5% | 1.6% | 1.6% | 1.5% |
FBMCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FBMCX Return (NAV) | 6.5% | 9.5% | 4.0% | 6.9% | -7.9% | 14.3% | 4.6% | 17.1% | -3.9% | 8.8% | 11.1% |
| FBMCX Grade | A | F | F | F | A | A | F | B | C | D | A |
| +/- Category | 1.8% | -2.0% | -4.3% | -3.1% | 3.9% | 4.3% | -3.5% | 1.5% | 0.4% | -1.0% | 2.6% |
| Moderately Conservative Allocation Avg | 4.8% | 11.5% | 8.3% | 10.0% | -11.8% | 10.0% | 8.1% | 15.6% | -4.3% | 9.8% | 8.5% |
| Risk Measures | |
| Standard Deviation: | 8.1% |
| Total Risk Index: | 0.66 - Below Average |
| Category Risk Index: | 1.10 - High |
| Category Risk Grade: | F (86% Rank) |
| Beta: | 0.74 |
| R-Squared: | 73% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $3434 Mil |
| Fund Total Assets: | $ 61 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 42% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 20.1 years | |||
| Average Tenure: 12.3 years | |||
| Managers (Year): Perks Edward (2006), Brighton Todd (2017), Circle Brendan (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 183 |
| % in Top 10 Holdings: | 18.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.5% |
Portfolio Allocation |
|
| Domestic Stock: | 39.1% |
| Foreign Stock: | 2.9% |
| Preferred Stock: | 5.2% |
| Domestic Bond: | 46.5% |
| Foreign Bond: | 3.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.7% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | www.franklintempleton.com |
| Status: | Open |
| Inception Date: | July 3, 2006 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.66% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.01% |
| Share Class: | Franklin Managed Income Adv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
