Franklin Payout 2019 Fund

C000156347 Fund Overview

Franklin Payout 2019 Fund is a US mutual fund managed by Franklin Fund Allocator Series, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Franklin Fund Allocator Series
• Category: Money Market
• Assets under management: $4.11M
• SEC CIK: 0001022804
• SEC series ID: S000049454
• Share class ID: C000156347

C000156347 Investment Objective and Strategy

Franklin Payout 2019 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Franklin Fund Allocator Series.

Investment objective

To seek capital preservation and income with a pre-determined maturity date.

Principal investment strategy

"Under normal market conditions, the Fund invests predominantly in U.S. dollar denominated investment grade debt securities and investments, including government and corporate debt securities and asset-backed securities and municipal securities. Such securities may be fixed or variable rate. Asset-backed securities are securities backed by loans, leases, and other receivables. Although the Fund may invest in individual securities of any maturity, the Fund is a term fund and is managed to mature in the year indicated in its name. Over time, the Fund's duration and weighted average maturity will decline as its maturity date approaches. In the later months of operation, when the debt securities held by the Fund mature, the proceeds from such securities will be held in cash, cash equivalents and money market instruments, including affiliated money market funds, or invested in short-term bonds.

In early December of the year indicated in the Fund's name, the Fund is expected to consist almost entirely of cash, cash equivalents and money market instruments. The Fund will terminate in early December of the year specified in its name. At that time, the Fund will make a cash distribution to then-current shareholders of its net assets after making appropriate provisions for any liabilities of the Fund. The Board may change the termination date to an earlier or later date without shareholder approval if the Board determines the change is in the best interests of Fund shareholders. The Fund focuses on investment grade securities and investments or in unrated securities and investments the investment manager determines are of comparable quality. The Fund's focus on the credit quality of its portfolio is intended to reduce credit risk and help to preserve its capital.

The Fund may invest a significant portion of its total assets in U.S. dollar denominated foreign securities, including debt issued by supranational entities. In choosing investments, the Fund's investment manager selects securities in various market sectors based on the investment manager's assessment of changing economic, market, industry and issuer conditions. The investment manager uses a ""top-down"" analysis of macroeconomic trends, combined with a ""bottom-up"" fundamental analysis of market sectors, industries and issuers, to try to take advantage of varying sector reactions to economic events. The Fund is not designed for long-term capital appreciation and does not provide a complete solution for a shareholder's retirement income needs. Shareholders should consider other factors besides their age or retirement date, such as their risk tolerance, personal circumstances, and complete financial situation, before investing in the Fund.

It is possible to lose money by investing in the Fund, including at its target maturity date. The Fund does not guarantee a level of dividends, income or principal at or before its target maturity date."

C000156347 Holdings

Top 10 holdings of Franklin Payout 2019 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000156347 holdings

C000156347 Portfolio Allocation

Asset-class allocation of Franklin Payout 2019 Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000156347 Costs and Fees

C000156347 costs about $31 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.31%
• Gross expense ratio: 3.05%
• Portfolio turnover: 3%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000156347 Cashflows

Over the 12 months to 2019-11, Franklin Payout 2019 Fund had net inflows of $0, from monthly SEC N-PORT filings.

C000156347 Debt Constituents

Largest debt holdings of Franklin Payout 2019 Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000156347 Prospectus and SEC Filings

Official Franklin Payout 2019 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-10-08
• Prospectus (485BPOS) — filed 2018-10-05
• Prospectus supplement (497) — filed 2018-01-30
• Portfolio holdings (N-PORT) — filed 2020-01-24
• Annual census (N-CEN) — filed 2019-08-14

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.