Morningstar® Investment Profile™   Morningstar®
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Franklin Income VIP 2
Release date as of 2024-04-30. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of 2024-04-30
Out of 440
Moderately Conservative Allocation Funds
Style Box™
What is this?
As of 2024-04-30
As of 2024-03-31
Total Fund Assets ($ Mil)
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks to maximize income while maintaining prospects for capital appreciation.
The fund invests in a diversified portfolio of debt and equity securities. It may shift its investments from one asset class to another based on the investment manager's analysis of the best opportunities for the fund's portfolio in a given market. The fund may invest up to 100% of its total assets in debt securities that are rated below investment grade (also known as "junk bonds"), including a portion in defaulted securities. It may also invest up to 25% of its assets in foreign securities, either directly or through depositary receipts.
  Morningstar Category: Moderately Conservative Allocation
Funds in allocation categories seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately conservative strategies prioritize preservation of capital over appreciation. They typically expect volatility similar to a strategic equity exposure between 30% and 50%. 
  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 25.4
Bullet Non-U.S. Stocks Non-U.S. Stocks 4.1
Bullet Bonds Bonds 58.6
Bullet Cash Cash 3.5
Bullet Other Other 8.4
Asset Allocation Rescaled Graph
Data through 2024-04-30
Morningstar Equity Sectors
% of Stocks
Cyclical 20.92
Basic Materials 5.68
Consumer Cyclical 3.31
Financial Services 11.93
Real Estate 0.00
Sensitive 40.41
Communication Services 2.85
Energy 13.34
Industrials 10.39
Technology 13.83
Defensive 38.65
Consumer Defensive 8.97
Healthcare 11.99
Utilities 17.69
Data through 2024-04-30
Morningstar Fixed-Income Sectors
% Fund
Government 16.12
Corporate 78.36
Securitized 0.60
Municipal 0.00
Cash & Equivalents 4.92
Derivative 0.00
Data through 2024-04-30
Credit Analysis
% Bonds
AAA 0.00
AA 18.07
A 9.57
BBB 35.55
BB 9.86
B 16.89
Below B 9.24
Not Rated 0.84
Data through 2024-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 61
Total Number of Bond Holdings 182
% of Net Assets in Top 10 Holdings 16.51
Turnover % (as of 2023-12-31) 34.98
30 Day SEC Yield % 4.50
Top Holdings
Sector Country Maturity Date Market Value ($000) % of Net Assets
United States Treasury Notes 2.875% --- USA 2032-05-15 114,250 3.69
United States Treasury Notes 2.75% --- USA 2032-08-15 65,049 2.10
Texas Instruments Inc USA --- 64,211 2.07
Franklin IFT Money Market --- USA --- 56,467 1.82
Chevron Corp USA --- 48,381 1.56
United States Treasury Bonds 3.625% --- USA 2053-05-15 34,747 1.12
United States Treasury Notes 4.5% --- USA 2026-03-31 34,651 1.12
Southern Co USA --- 33,075 1.07
NextEra Energy Inc USA --- 30,765 0.99
Lockheed Martin Corp USA --- 30,220 0.97
Data through 2024-04-30
  Principal Risks   
Credit and Counterparty, Prepayment (Call), Foreign Securities, Loss of Money, Not FDIC Insured, Value Investing, Active Management, Income, Interest Rate, Market/Market Volatility, Convertible Securities, Depositary Receipts, High-Yield Securities, Mortgage-Backed and Asset-Backed Securities, Other, Derivatives, Portfolio Diversification, Structured Products
Show Risk Definitions
  Other Information
Inception Date: 1999-01-06
Portfolio Manager(s)
Edward D. Perks   (2002-03-01)
Edward Perks is chief investment officer of Franklin Templeton Investment Solutions and president of Franklin Advisers, Inc. In this role, Mr. Perks has oversight of myriad multi-asset investment capabilities designed to meet client needs for specific investment solutions. Mr. Perks joined Franklin Templeton in 1992. Mr. Perks holds a B.A. in economics and political science from Yale University. He is a Chartered Financial Analyst (CFA) charterholder, a member of the CFA Institute, and the Security Analysts of San Francisco (SASF).
Todd Brighton   (2017-03-01)
Todd Brighton is a vice president, portfolio manager and research analyst for Franklin Templeton Multi-Asset Solutions. He is the lead manager of the Franklin Liberty US Low Volatility ETF. Mr. Brighton analyzes equity and equity-linked investments for the Core/Hybrid team and specializes in the development of volatility-based strategies. Mr. Brighton joined Franklin Templeton in 2000. He is a Chartered Financial Analyst (CFA) charterholder and a member of the CFA Institute and the CFA Society of San Francisco.
Brendan Circle   (2019-02-01)
Brendan Circle is a vice president, portfolio manager, and research analyst for Franklin Templeton Multi-Asset Solutions. In this role, Mr. Circle serves as a comanager of Franklin Income Fund and related portfolios, as well as Franklin Managed Income Fund. He also specializes in analyzing investment opportunities across the fixed income markets for the Multi-Asset Solutions team. Mr. Circle joined Franklin Templeton in 2014. Mr. Circle is a Chartered Financial Analyst (CFA) Charterholder, as well as a member of the CFA Institute and the CFA Society of San Francisco.
Investment Advisor(s)
Franklin Advisers, Inc.
Franklin Templeton Investments
Show Data Definitions

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