Morningstar® Investment Profile™   Morningstar®
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Franklin US Government Securities VIP 1
Release date as of 2022-05-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of ---
Out of 226
Intermediate Government Funds
Style Box™
What is this?
As of 2022-03-31
Total Fund Assets ($ Mil)
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks income.
The fund normally invests at least 80% of its net assets in U.S. government securities. It invests primarily to predominantly in fixed rate and variable rate mortgage-backed securities, a significant to substantial amount of which is in securities issued by the Government National Mortgage Association. The fund may invest in U.S. Treasury STRIPS, bills, bonds, notes and Treasury inflation-protected securities.
  Morningstar Category: Intermediate Government
Intermediate-government portfolios have at least 90% of their bond holdings in bonds backed by the U.S. government or by government-linked agencies. This backing minimizes the credit risk of these portfolios, as the U.S. government is unlikely to default on its debt. These portfolios have durations typically between 3.5 and 6.0 years. Consequently, the group's performance--and its level of volatility--tends to fall between that of the short government and long government bond categories. Morningstar calculates monthly breakpoints using the effective duration of the Morningstar Core Bond Index in determining duration assignment. Intermediate is defined as 75% to 125% of the three-year average effective duration of the MCBI. 
  Investment Risks
There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.0
Bullet Bonds Bonds 93.3
Bullet Cash Cash 6.7
Bullet Other Other 0.0
Asset Allocation Rescaled Graph
Data through 2022-05-31
Morningstar Fixed-Income Sectors
% Fund
Government 14.79
Corporate 1.56
Securitized 76.92
Municipal 0.00
Cash & Equivalents 6.73
Other 0.00
Data through 2022-05-31
Credit Analysis
% Bonds
AAA 91.47
AA 1.41
A 0.00
BBB 0.00
BB 0.00
B 0.00
Below B 0.00
Not Rated 7.12
Data through 2022-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 0
Total Number of Bond Holdings 884
% of Net Assets in Top 10 Holdings 31.90
Turnover % (as of 2021-12-31) 80.81
30 Day SEC Yield % ---
Top Holdings
% of Net
Government National Mortgage Association 2.5% 2.5% 2051-08-20 35,332 33,291 4.86
United States Treasury Notes 2.25% 2.25% 2027-08-15 31,040 30,330 4.43
United States Treasury Notes 2.375% 2.375% 2024-08-15 22,000 22,047 3.22
Government National Mortgage Association 3% 3% 2051-11-20 21,637 20,971 3.06
Federal National Mortgage Association 2.5% 2.5% 2051-09-01 22,236 20,548 3.00
Federal National Mortgage Association 3% 3% 2051-09-01 20,829 19,955 2.91
Government National Mortgage Association 3.5% 3.5% 2047-09-20 18,735 18,910 2.76
Government National Mortgage Association 3% 3% 2051-10-20 18,781 18,218 2.66
Government National Mortgage Association 3% 3% 2051-07-20 17,959 17,429 2.54
Government National Mortgage Association 3% 3% 2051-09-20 17,341 16,824 2.46
Data through 2022-05-31
  Principal Risks   
Credit and Counterparty, Extension, Prepayment (Call), Loss of Money, Not FDIC Insured, Active Management, Income, Interest Rate, Market/Market Volatility, Mortgage-Backed and Asset-Backed Securities, Other, U.S. Government Obligations
Show Risk Definitions
  Other Information
Inception Date: 1989-03-14
Portfolio Manager(s)
Neil Dhruv   (2019-10-24)
Portfolio Manager of FT Institutional and portfolio manager of FRANKLIN STRATEGIC MORTGAGE PORTFOLIO since October 2019.
Paul Varunok   (2004-12-31)
Mr. Varunok is portfolio manager of Franklin Advisers. He joined Franklin Templeton Investments in 2001. Previously, Varunok was a fixed-income analyst for Prudential Securities, Inc.
Investment Advisor(s)
Franklin Advisers, Inc.
Franklin Templeton Investments
Show Data Definitions

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