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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
10.1%
1 yr return
19.1%
3 Yr Avg Return
1.5%
5 Yr Avg Return
5.9%
Net Assets
$68 M
Holdings in Top 10
79.2%
Expense Ratio 1.84%
Front Load N/A
Deferred Load 1.00%
Turnover 82.69%
Redemption Fee N/A
Standard (Taxable)
$1,000
IRA
$250
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund employs an asset allocation strategy designed for investors who are expecting to retire and who are likely to stop making new investments in the Fund around the specific target year (target date), as indicated in the Fund’s name, but who are expecting to delay withdrawals until their required minimum distribution age (which currently is approximately eight years after the target date in the Fund’s name, assuming a shareholder turns 65 in the year indicated in the Fund’s name). The required minimum distribution age currently is 73.
Under normal market conditions, the investment manager allocates the Fund’s assets among the broad asset classes of equity and fixed income investments and strategies by investing primarily in a distinctly-weighted combination of other funds (underlying funds), predominantly other Franklin Templeton affiliated mutual funds and exchange-traded funds (ETFs) and third-party ETFs, based on each underlying fund's predominant asset class and strategy.
Under normal market conditions, the investment manager uses a predetermined glide path as a guide in allocating the Fund’s assets among underlying funds in the broad asset classes (the Neutral Glide Path). However, when the investment manager’s proprietary risk indicator model signals a sustained level of market turbulence or a prolonged down (or bear) market, the investment manager may, in its sole discretion and without shareholder notification, employ a defensive glide path, which has higher fixed income and lower equity allocations than the Neutral Glide Path (the Defensive Glide Path). The investment manager’s proprietary risk indicator model is designed to measure certain factors across asset classes that are expected to signal a sustained level of market turbulence or a prolonged down (or bear) market. When the model signals such a market, the investment manager evaluates the data available and makes a qualitative decision on whether the Fund’s glide path should be shifted to the Defensive Glide Path. Then, if the market stabilizes, the investment manager may, in its sole discretion and without shareholder notification, shift the Fund’s portfolio back to the Neutral Glide Path. These glide path shifts are executed through purchases and sales of underlying funds and ETFs to increase or decrease the Funds’ equity and fixed income allocations. At any time, the investment manager may express tactical views that
may cause the Fund to deviate by up to 5% from the Neutral or Defensive Glide Path allocations.
The target asset allocations in the Neutral and Defensive Glide Paths change over time, reducing their exposure to equity investments and becoming increasingly conservative until the required minimum distribution age, which currently is approximately eight years after the stated target date, assuming a shareholder turns 65 in the year indicated in the Fund’s name. At that time (eight years after the year indicated in the Fund’s name), the Fund’s final asset allocation mix will be 40% equity funds and 60% fixed-income funds if the Fund is following the Neutral Glide Path or 30% equity funds and 70% fixed-income funds if the Fund is following the Defensive Glide Path. On or around the date of this prospectus, the investment manager anticipates that the Fund will be following the Neutral Glide Path and, consequently, its asset allocation mix will be approximately 67.5% equity funds and 32.5% fixed-income funds.
The underlying funds and the percentage allocations in the Neutral and Defensive Glide Paths may be changed from time to time by the Fund’s investment manager without the approval of shareholders, and, under normal market conditions, the percentage allocations may vary up to 5% from the stated allocations.
When selecting equity funds, the investment manager considers the underlying funds’ foreign and domestic exposure, market capitalization ranges, and investment style (growth vs. value). When selecting fixed-income funds, the investment manager considers the need for reduced market risks and lower volatility, appropriate to the Fund’s risk profile, and considers the credit quality, duration and maturity of the underlying funds’ portfolios. Certain fixed-income funds may hold securities across the credit quality spectrum, including below investment grade or "junk" bonds. The underlying funds may invest in all types of U.S. and foreign (including developing markets) securities and may engage in strategies that employ derivative instruments.
No more than 25% of the Fund’s assets may be invested in any one underlying fund, except that the Fund may invest up to 50% of its total assets in Franklin U.S. Government Securities Fund, Franklin U.S. Treasury Bond ETF, or a combination of both.
While the Fund is designed for investors expecting to retire around the target date and who are expecting to delay withdrawals until their required minimum distribution age, investors should also consider other factors, such as their risk tolerance, personal circumstances, legal considerations, tax consequences and status, complete financial situation and needs and individual goals, some or all of which can change frequently. It is possible to lose money by investing in the Fund, including at and after the target date. The Fund does not guarantee a level of income or principal at or after the target date.
Period | FLRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.1% | 6.9% | 15.9% | 32.12% |
1 Yr | 19.1% | 17.1% | 25.2% | 47.15% |
3 Yr | 1.5%* | -3.3% | 4.7% | 50.00% |
5 Yr | 5.9%* | 4.1% | 8.3% | 75.58% |
10 Yr | N/A* | 4.5% | 7.7% | N/A |
* Annualized
Period | FLRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.5% | 5.5% | 14.4% | 20.21% |
2022 | -19.8% | -52.7% | -14.2% | 41.97% |
2021 | -1.5% | -5.6% | 14.0% | 91.80% |
2020 | 8.3% | 0.7% | 13.7% | 57.56% |
2019 | 15.5% | 2.6% | 18.9% | 36.48% |
Period | FLRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.1% | 6.9% | 15.9% | 32.12% |
1 Yr | 19.1% | 17.1% | 25.2% | 47.15% |
3 Yr | 1.5%* | -3.3% | 4.7% | 50.00% |
5 Yr | 5.9%* | 4.1% | 8.3% | 75.58% |
10 Yr | N/A* | 4.5% | 7.7% | N/A |
* Annualized
Period | FLRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.1% | 10.0% | 49.5% | 70.47% |
2022 | -17.2% | -26.4% | 20.1% | 82.38% |
2021 | 12.1% | 1.6% | 18.5% | 44.81% |
2020 | 10.6% | 6.7% | 19.3% | 93.60% |
2019 | 18.0% | 17.1% | 34.4% | 98.74% |
FLRTX | Category Low | Category High | FLRTX % Rank | |
---|---|---|---|---|
Net Assets | 68 M | 6.51 M | 90.6 B | 80.41% |
Number of Holdings | 27 | 4 | 927 | 33.51% |
Net Assets in Top 10 | 56.7 M | 7.61 M | 93.7 B | 79.90% |
Weighting of Top 10 | 79.16% | 45.0% | 116.9% | 52.60% |
Weighting | Return Low | Return High | FLRTX % Rank | |
---|---|---|---|---|
Cash | 1.13% | 0.00% | 19.41% | 30.93% |
Convertible Bonds | 0.46% | 0.03% | 1.11% | 38.14% |
Other | 0.03% | -0.06% | 3.21% | 26.80% |
Stocks | 0.00% | 0.00% | 100.43% | 93.30% |
Preferred Stocks | 0.00% | 0.00% | 0.03% | 40.72% |
Bonds | 0.00% | 0.00% | 37.34% | 55.15% |
FLRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.84% | 0.05% | 10.17% | 6.22% |
Management Fee | 0.25% | 0.00% | 0.81% | 62.30% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 94.79% |
Administrative Fee | N/A | 0.01% | 0.29% | N/A |
FLRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | 1.00% | 1.00% | 4.00% | 63.64% |
FLRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
FLRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 82.69% | 3.00% | 98.00% | 96.02% |
FLRTX | Category Low | Category High | FLRTX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.17% | 0.00% | 7.28% | 88.14% |
FLRTX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Annual | Annual |
FLRTX | Category Low | Category High | FLRTX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.74% | 0.12% | 3.79% | 86.77% |
FLRTX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Semi-Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.040 | OrdinaryDividend |
Mar 28, 2024 | $0.089 | OrdinaryDividend |
Dec 28, 2023 | $0.008 | OrdinaryDividend |
Sep 29, 2023 | $0.043 | OrdinaryDividend |
Jun 30, 2023 | $0.049 | OrdinaryDividend |
Mar 31, 2023 | $0.072 | OrdinaryDividend |
Dec 29, 2022 | $0.008 | OrdinaryDividend |
Sep 30, 2022 | $0.024 | OrdinaryDividend |
Jun 30, 2022 | $0.028 | OrdinaryDividend |
Jun 15, 2022 | $0.303 | CapitalGainLongTerm |
Dec 30, 2021 | $1.758 | OrdinaryDividend |
Sep 28, 2021 | $0.027 | OrdinaryDividend |
Jun 28, 2021 | $0.156 | OrdinaryDividend |
Dec 30, 2020 | $0.078 | OrdinaryDividend |
Sep 28, 2020 | $0.019 | OrdinaryDividend |
Jun 26, 2020 | $0.159 | OrdinaryDividend |
Mar 27, 2020 | $0.014 | OrdinaryDividend |
Dec 30, 2019 | $0.077 | OrdinaryDividend |
Sep 26, 2019 | $0.023 | OrdinaryDividend |
Jun 26, 2019 | $0.025 | OrdinaryDividend |
Jun 26, 2019 | $0.136 | CapitalGainLongTerm |
Mar 27, 2019 | $0.010 | OrdinaryDividend |
Dec 28, 2018 | $0.150 | OrdinaryDividend |
Dec 28, 2018 | $0.084 | CapitalGainLongTerm |
Jun 27, 2018 | $0.003 | OrdinaryDividend |
Mar 27, 2018 | $0.048 | OrdinaryDividend |
Dec 28, 2017 | $0.056 | OrdinaryDividend |
Sep 27, 2017 | $0.010 | OrdinaryDividend |
Mar 29, 2017 | $0.079 | OrdinaryDividend |
Dec 29, 2016 | $0.004 | OrdinaryDividend |
Jun 28, 2016 | $0.100 | CapitalGainLongTerm |
Mar 29, 2016 | $0.006 | OrdinaryDividend |
Dec 30, 2015 | $0.097 | OrdinaryDividend |
Jun 26, 2015 | $0.149 | CapitalGainLongTerm |
Jun 25, 2015 | $0.004 | CapitalGainShortTerm |
Mar 27, 2015 | $0.004 | OrdinaryDividend |
Dec 30, 2014 | $0.153 | OrdinaryDividend |
Dec 30, 2014 | $0.007 | CapitalGainShortTerm |
Dec 30, 2014 | $0.001 | CapitalGainLongTerm |
Jun 26, 2014 | $0.000 | CapitalGainShortTerm |
Jun 26, 2014 | $0.056 | CapitalGainLongTerm |
Mar 27, 2014 | $0.001 | OrdinaryDividend |
Dec 30, 2013 | $0.083 | OrdinaryDividend |
Dec 30, 2013 | $0.002 | CapitalGainShortTerm |
Sep 26, 2013 | $0.008 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jul 01, 2013
8.92
8.9%
Thomas Nelson is the director of portfolio management and a senior vice president for Franklin Templeton Investment Solutions (FTIS). He graduated from the University of Delaware with a B.S. in accounting. As the director of portfolio management and a member of the Investment Strategy and Research Committee, Mr. Nelson manages several Franklin Templeton global mutual funds. He is also a chartered member of the CFA Institute and part of the New York Society of Security Analysts and Chartered Alternative Investment Analyst Association.
Start Date
Tenure
Tenure Rank
Apr 16, 2021
1.12
1.1%
Mr. Tollette first joined Franklin Templeton in 1994, left the company in 2014 and rejoined again in 2018.
Start Date
Tenure
Tenure Rank
Apr 16, 2021
1.12
1.1%
Ms. Revenaugh has been a co-lead portfolio manager since April 2021. She joined Franklin Templeton in 2019. Prior to joining Franklin Templeton, she was a portfolio strategist and a member of the investment committee with Windward Investment Management.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 17.59 | 5.8 | 2.41 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...