Franklin Universal Trust Announces Executive Changes, Effective August 1, 2020
July 21, 2020 at 11:44 am EDT
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Effective on August 1, 2020, Franklin Universal Trust announced that Jon Belk, CFA, will join the Fund’s portfolio management team as co-lead portfolio manager. The Fund’s current lead portfolio manager Glenn Voyles, CFA, will continue as co-lead portfolio manager.
Franklin Universal Trust (Fund) is a closed-end management investment company. The Fund's primary investment objective is to provide high, current income consistent with preservation of capital. Its secondary objective is growth in income through dividend increases and capital appreciation. It invests primarily in two asset classes: high yield bonds and utility stocks. Within the high yield portion of the portfolio, it uses fundamental research to invest in a diversified portfolio of bonds. Within the utility portion of the portfolio, it focuses on companies with attractive dividend yields and with a history of increasing their dividends. The Fund invests in various industrial sectors, such as Electric Utilities, independent power and renewable electricity producers, metals and mining, multi utilities, oil, gas and consumable fuels, auto components, beverages, biotechnology, building products, communications equipment, and others. Franklin Advisers, Inc. is its investment manager.