| Franklin Strategic Income VIP 1 |
|
 |
|
| Release date as of 2024-03-31. Data on page is subject to change. |
|
|
Overall Morningstar
Rating™
|
| What is this?
|
|
 |
| As of 2024-03-31 |
|
Out of 315
Multisector Bond Funds
|
|
|
|
|
|
| Total Fund Assets ($ Mil) |
| 289.66 |
|
|
|
| Investment Objective & Strategy |
|
| The investment seeks a high level of current income; long-term capital appreciation is the secondary objective.
|
|
| The fund invests its assets primarily to predominantly in U.S. and foreign debt securities, including those in emerging markets. It may invest up to 100% of its assets in high yield, lower-quality debt securities (also known as "junk bonds"). The fund may invest in many different securities issued or guaranteed by the U.S. government or by non-U.S. governments, or their respective agencies or instrumentalities, including mortgage-backed securities and inflation-indexed securities issued by the U.S. Treasury. |
|
|
| Morningstar Category: Multisector Bond |
|
| Multisector-bond portfolios seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. These portfolios typically hold 35% to 65% of bond assets in securities that are not rated or are rated by a major agency such as Standard & Poor's or Moody's at the level of BB (considered speculative for taxable bonds) and below.
|
|
|
| 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. |
|
|
|
% of Net Assets |
|
| U.S. Stocks |
0.0 |
|
| Non-U.S. Stocks |
0.0 |
|
| Bonds |
111.8 |
|
| Cash |
-12.0 |
|
| Other |
0.2 |
|
|
| Total |
100.0 |
|
|
|
|
|
Data through
2024-03-31 |
|
|
|
|
| Morningstar Fixed-Income Sectors |
|
| % Fund |
 |
Government |
24.58 |
 |
Corporate |
52.10 |
 |
Securitized |
16.72 |
 |
Municipal |
0.00 |
 |
Cash & Equivalents |
1.88 |
 |
Derivative |
4.72 |
|
|
|
% Bonds |
| AAA |
4.43 |
| AA |
34.13 |
| A |
10.34 |
| BBB |
19.00 |
| BB |
15.70 |
| B |
11.62 |
| Below B |
1.83 |
| Not Rated |
2.95 |
|
|
|
|
|
| Total Number of Stock Holdings |
3 |
| Total Number of Bond Holdings |
586 |
| % of Net Assets in Top 10 Holdings |
26.57 |
|
|
| Turnover % |
(as of 2022-12-31) |
63.64 |
| 30 Day SEC Yield % |
--- |
|
|
Maturity
Date
|
Shares
|
Value
$000
|
% of Net
Assets
|
 |
|
|
|
|
|
|
5 Year Treasury Note Future June 24 |
2024-06-28 |
--- |
16,626 |
5.74 |
|
United States Treasury Notes 4% |
2026-02-15 |
11,200 |
11,119 |
3.84 |
|
United States Treasury Notes 1.5% |
2025-02-15 |
9,800 |
9,516 |
3.28 |
 |
Government National Mortgage Association 2% |
2053-04-01 |
10,476 |
8,584 |
2.96 |
|
Federal National Mortgage Association 5.5% |
2053-04-01 |
6,260 |
6,230 |
2.15 |
 |
 |
Franklin IFT Money Market |
--- |
5,733 |
5,733 |
1.98 |
 |
Federal Home Loan Mortgage Corp. 4.5% |
2052-08-01 |
5,830 |
5,576 |
1.92 |
|
Ultra 10 Year US Treasury Note Future June 24 |
2024-06-18 |
--- |
-4,980 |
1.72 |
|
10 Year Treasury Note Future June 24 |
2024-06-18 |
--- |
4,631 |
1.60 |
|
United States Treasury Notes 3.875% |
2027-11-30 |
4,000 |
3,988 |
1.38 |
|
|
 |
|
|
|
|
|
| Lending, Credit and Counterparty, Inflation/Deflation, Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Active Management, Income, Interest Rate, Market/Market Volatility, High-Yield Securities, Mortgage-Backed and Asset-Backed Securities, Other, Restricted/Illiquid Securities, Derivatives, Sovereign Debt, Management, Portfolio Diversification, Structured Products, Variable-Rate Securities |
|
| Show Risk Definitions |
|
|
| Inception Date: 1999-07-01 |
|
| Patrick Klein (2022-08-01) |
|
| Patrick Klein, Ph.D., Senior Vice President, Research Analyst and Portfolio Manager of Franklin Advisers. Dr. Patrick Klein is a senior vice president and portfolio manager for Franklin Templeton Fixed Income. He leads the team managing the multisector fixed-income strategies with a focus on portfolio construction and quantitative modelling. Prior to his current role, he was a portfolio manager and research analyst focusing on the securitized, inflations protected, and portfolio construction areas. Dr. Klein was a principal member of the Technical Staff at Sandia National Laboratories. |
|
| Sonal Desai (2018-12-31) |
|
| Sonal Desai, PhD, EVP, is Franklin Templeton Fixed Income Group’s Chief Investment Officer, a portfolio manager for several fixed income funds and a member of the firm's executive committee. Dr. Desai started her career in 1994 as a university academic, followed by six years at the International Monetary Fund after which she joined the private sector. She started working at Franklin Templeton in 2009. She holds a PhD(Econ) from Northwestern Univ. and a BA(Econ) from Delhi Univ. |
|
| Benjamin B. Cryer (2022-08-01) |
|
| Mr. Cryer joined Franklin Templeton in 2006. |
|
| Thomas Runkel (2022-08-01) |
|
| Tom Runkel is a vice president and portfolio manager for Franklin Templeton Investments. Mr. Runkel focuses on relative value security selection and allocation among the credit sectors for the multi-sector fixed income portfolios. He also serves as the director of portfolio strategies and the lead portfolio manager for the SMA Taxable Fixed Income strategies and supervises the Franklin SMA Taxable Fixed Income Portfolio Management team.
Mr. Runkel joined Franklin in 1983 and served as a senior portfolio manager for Franklin's taxable money fund and investment grade fixed income assets as well as a trader for taxable fixed income and equity securities. Mr. Runkel founded Runkel Funds, Inc. in 2002 and managed a large-cap value fund until late 2005 before returning to Franklin in 2006.
Mr. Runkel has an M.B.A. from the University of Santa Clara and earned a B.S. in political science from the University of California, Davis. He is a Chartered Financial Analyst (CFA) charterholder. |
|
| Patricia O'Connor (2016-02-01) |
|
| Patricia O'Connor, CFA, VP, is a vice president and portfolio manager for the Franklin Templeton Fixed Income Group. Prior to joining Franklin Templeton in 1997, Ms. O'Connor worked for Morgan Stanley Asset Management. She holds a B.S. (Accounting, Lehigh Univ.) and an MBA (Univ. of Chicago). Ms. O'Connor holds a B.S. in accounting from Lehigh University and an M.B.A. in finance and economics from the University of Chicago. She is a Chartered Financial Analyst (CFA) charterholder, as well as a member of the CFA Society of San Francisco and CFA Institute. |
|
|
|
|
|
|
| Franklin Templeton Investments |
|
|
|
|
|
© Copyright 2024 Morningstar, Inc. All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or any losses arising from any use of information. Past performance is no guarantee of future performance. |
|
Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.
|
|
