Franklin Income Fund Class R6

The fund employs a comprehensive investment strategy, allocating its capital across a varied mix of both fixed-income and equity instruments. Its equity investments are predominantly concentrated in common stocks. The debt portion of its portfolio is exceptionally diverse, encompassing instruments with fixed, floating, or variable interest rates. This includes various types of bonds, such as secured and unsecured obligations, as well as those convertible into common shares. Additionally, it may hold senior floating-rate and term loans, mortgage-backed securities, other asset-backed debt, debentures, and shorter-term financial instruments. A key characteristic is the fund's ability to commit up to 100% of its total assets to debt securities classified as below investment grade.