Celebrating an exciting milestone: Franklin Income Fund turns 75. Learn more about this flagship strategy and read some fun facts from back in 1948.
Our Franklin Income Fund recently celebrated its 75th anniversary, offering investors a steady diet of dividends since its launch in 1948.
As the name implies, Franklin Templeton’s founder Rupert H. Johnson Sr. launched the fund to address investors’ need for income, particularly in their retirement years. And Franklin Income Fund has done just that—paying uninterrupted dividends for 75 years.1 A cornerstone of compounding returns, dividends can help people accumulate money for retirement and provide the monthly income needed when their working years are over. As of July 31, 2023, the fund had more than US$72 billion in assets under management.
In its long history, Franklin Income Fund has only had three lead managers. Ed Perks celebrates his 21st year of managing the fund, first as a co-manager in 2002, then as lead manager in 2004, taking the helm from Charlie Johnson. The fund has the flexibility to invest in both equities and fixed income across the globe and in both public and private markets.
A few fun facts about 1948, the year the fund was launched:2
- Yearly US inflation: 7.74%
- The World Health Organization was founded
- Cost of a new house in the United States: $7,700
- A gallon of gasoline was 16 cents
- Velcro was invented
- Harry S. Truman was president of the United States and Time Magazine’s “Man of the Year”
- Only 1% of US households owned a television set