| Morningstar Fund Report | 07/04/2025 |  |
Franklin U.S. Low Duration Fund W(acc) USD |
| Performance History | 31/03/2025 |
| Growth of 1,000 (GBP) | Advanced Graph |
 | Fund | 1.4 | 7.1 | -0.4 | 6.5 | -1.6 |
| +/-Cat | 0.9 | -3.4 | 0.6 | 0.7 | -0.1 |
| +/-B’mrk | 1.2 | -1.1 | 0.9 | -0.3 | -0.2 |
| Category: USD Diversified Bond - Short Term | ||||||
| Category Benchmark: Morningstar US 1-3Y Core Bd... | ||||||
| Key Stats | ||
| NAV 04/04/2025 | USD 11.60 | |
| Day Change | 1.67% | |
| Morningstar Category™ | USD Diversified Bond - Short Term | |
| ISIN | LU1626021791 | |
| Fund Size (Mil) 31/03/2025 | USD 318.44 | |
| Share Class Size (Mil) 04/04/2025 | USD 5.49 | |
| Max Initial Charge | - | |
| Ongoing Charge 12/02/2025 | 0.48% | |
| Morningstar Research |
| Analyst Report | 25/10/2024 Eric Jacobson, Senior Principal Morningstar, Inc |
Franklin U.S Low Duration’s team and approach has seen changes in recent years, including incorporating more quantitative resources and inputs than many peers. These changes haven’t yet demonstrated their value, though, and the strategy often... | |
| Click here to read this analyst report on the underlying fund. | |
| Morningstar Pillars | |
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| People | 23 |
| Parent | 23 |
| Process | 22 |
| Performance | |
| Price | |
| Investment Objective: Franklin U.S. Low Duration Fund W(acc) USD |
| The Fund’s investment objective is to provide as high a level of current income as is consistent with prudent investing, while seeking preservation of shareholders’ capital. |
| Returns | |||||||||||||
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| Management | ||
Manager Name Start Date | ||
Michael Salm 30/09/2024 | ||
Patrick Klein 01/08/2022 | ||
| Click here to see others | ||
Inception Date 23/06/2017 | ||
| Category Benchmark | |
| Fund Benchmark | Morningstar Benchmark |
| Bloomberg US Govt/Credit 1-3 Yr TR USD | Morningstar US 1-3Y Core Bd TR USD |
| Portfolio Profile for Franklin U.S. Low Duration Fund W(acc) USD | 28/02/2025 |
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| Growth Of 1000 (GBP) | 31/03/2025 |
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| Annual Returns (GBP) | 31/03/2025 | |||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 31/03 | |
| Price Return | 6.53 | 0.63 | -0.23 | 1.39 | 7.11 | -0.44 | 6.54 | -1.61 |
| +/- Category | -0.58 | 1.22 | 0.71 | 0.94 | -3.42 | 0.62 | 0.66 | -0.09 |
| +/- Category Index | -1.40 | 0.56 | -0.32 | 1.24 | -1.13 | 0.86 | -0.33 | -0.20 |
| % Rank in Category | 74 | 12 | 29 | 10 | 87 | 20 | 29 | 61 |
| Trailing Returns (GBP) | 04/04/2025 | ||
| Total Returns | +/- Category | +/- Category Index | |
| 1 Day | 1.67 | -0.14 | -0.11 |
| 1 Week | 0.10 | -0.29 | -0.32 |
| 1 Month | -1.47 | -0.23 | -0.41 |
| 3 Months | -2.71 | -0.44 | -0.46 |
| 6 Months | 3.40 | -0.10 | -0.93 |
| YTD | -1.77 | -0.47 | -0.45 |
| 1 Year | 3.43 | -0.19 | -0.83 |
| 3 Years Annualised | 3.68 | 0.00 | -0.28 |
| 5 Years Annualised | 2.32 | 1.11 | 1.77 |
| 10 Years Annualised* | 3.08 | 0.24 | -0.11 |
| Category: USD Diversified Bond - Short Term | |||
| Category Index: Morningstar US 1-3Y Core Bd TR USD | |||
| Quarterly Returns (GBP) | 31/03/2025 | |||
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
| 2025 | -1.61 | - | - | - |
| 2024 | 1.47 | 0.93 | -3.04 | 7.29 |
| 2023 | -0.83 | -2.84 | 4.95 | -1.55 |
| 2022 | -0.16 | 5.75 | 7.84 | -5.93 |
| 2021 | -0.74 | 0.43 | 2.64 | -0.91 |
| 2020 | -1.39 | 8.00 | -2.87 | -3.55 |
| Morningstar Rating™(Relative to Category) | 31/03/2025 | ||||||||||||||||||||
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| Category : USD Diversified Bond - Short Term | Click here to see our Methodology | ||||||||||||||||||||
| Volatility Measurements | 31/03/2025 | ||||||||||
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| Modern Portfolio Statistics | 31/03/2025 | 31/03/2025 |
| Standard Index | Best Fit Index | |
| Morningstar US 1-3Y Core Bd TR USD | Bloomberg US Corp 1-3 Yr TR USD | |
| 3-Yr Beta | 1.03 | 0.98 |
| 3-Yr Alpha | -0.10 | -0.65 |
| Fixed Income Style | 31/01/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Asset Allocation | 28/02/2025 |
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| Top 10 Holdings | 28/02/2025 |
| Portfolio NEW | |
| Total Number of Equity Holdings | 1 |
| Total Number of Bond Holdings | 388 |
| Assets in Top 10 Holdings | 57.95 |
| Name | Sector | Country | % of Assets | ||
 2 Year Treasury Note Future June 25 |  | United States | 31.35 | ||
| United States Treasury Notes 0.375% | | United States | 3.72 | ||
| United States Treasury Notes 2.875% | | United States | 3.64 | ||
| United States Treasury Notes 2.75% | | United States | 3.57 | ||
| Federal Home Loan Banks | | United States | 3.24 | ||
| United States Treasury Notes 2% | | United States | 3.16 | ||
| United States Treasury Notes 0.375% | | United States | 2.58 | ||
| United States Treasury Notes 1.625% | | United States | 2.46 | ||
| United States Treasury Notes 0.5% | | United States | 2.16 | ||
| United States Treasury Notes 4.375% | | United States | 2.06 | ||
Increase  Decrease  New since last portfolio | |||||
| Category: USD Diversified Bond - Short Term | |||||
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| Biography | |
| Mr. Salm is a Co-Head of Fixed Income, specializing in liquid markets and securitized strategies. In this role, he oversees investment strategies related to mortgage and securitized products, interest-rate and volatility derivatives, and money markets. In addition, he manages trading operations and Putnam's Fixed Income quantitative teams. He is a portfolio manager of core global, core plus, global government, fixed income global alpha, and dedicated mortgage strategies, as well as fixed income hedge funds. Mr. Salm joined Putnam in 1997 and has been in the investment industry since 1989. Previously at Putnam, he served as a Portfolio Manager responsible for mortgage strategies in fixed income portfolios. Prior to joining Putnam, Mr. Salm was a Mortgage Specialist at BlackRock Financal Management from 1996 to 1997, a Vice President and Trader at Nomura Securities from 1994 to 1996, a Vice President and Structurer at Nikko Securities from 1993 to 1994, and an Analyst at Fitch Investor Services from 1991 to 1992. Mr. Salm earned a B.S. from Cornell University. |
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| Fund Manager | Patrick Klein |
| Manager Start Date | 01/08/2022 |
| Career Start Year | 2005 |
| Education |
| Cornell University, B.A. |
| Stanford University, Ph.D |
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| Biography | |
| Patrick Klein is a senior vice president and portfolio manager for Franklin Templeton Fixed Income - Multi-Sector in San Mateo, California, United States. Dr. Klein is responsible for leading a team managing multisector fixed income strategies, with a focus on portfolio construction and quantitative modeling. Dr. Klein has over 18 years of experience in the financial services industry. Prior to his current role, Dr. Klein was a research analyst for Franklin Templeton Fixed Income. He joined Franklin Templeton in 2005, specializing in mortgage-backed securities. Previously, he was a researcher at Sandia National Laboratories, developing models for the computer simulation of material behavior. Dr. Klein holds a bachelor of arts in mechanical engineering and materials science from Cornell University, and a PhD in mechanical engineering from Stanford University. |
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| Fund Manager | Tina Chou |
| Manager Start Date | 15/10/2019 |
| Career Start Year | 2003 |
| Education |
| Massachusetts Institute of Technology, B.S. |
| Massachusetts Institute of Technology, B.S. |
| Massachusetts Institute of Technology, M.S. |
| University of Chicago (Booth), M.B.A. |
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| Biography | |
| Tina Chou is a vice president and portfolio manager for Franklin Templeton Fixed Income - Multi Sector in San Mateo, California, United States. Ms. Chou is responsible for analyzing corporate credit, credit derivatives, and relative value trades. Ms. Chou has over 18 years of experience in the financial services industry. Prior to her current role, Ms. Chou was a management consultant for Boston Consulting Group. She was also previously with UBS and the National Security Agency (NSA). Ms. Chou joined Franklin Templeton in 2004 as a fixed income risk analyst. Ms. Chou holds a bachelor of science and masters of engineering in electrical engineering and computer science from the Massachusetts Institute of Technology, and a MBA with concentrations in finance and strategic management from the University of Chicago Booth School of Business. |
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| Fund Manager | Sameer Kackar |
| Manager Start Date | 30/09/2024 |
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| Biography | |
| Sameer Kackar, CFA, Vice President and Portfolio Manager for the Franklin Templeton Fixed Income Group. He is responsible for portfolio management of global absolute return and global aggregate bond strategies, quantitative fixed income research, and portfolio hedging using interest rates and credit derivatives. Mr. Kackar has been a co-lead portfolio manager of the Portfolio since 2024. Mr. Kackar joined Franklin Templeton in 2019 and has over 14 years of experience in the financial services industry. |
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| Fund Manager | Kent Burns |
| Manager Start Date | 16/09/2011 |
| Career Start Year | 1994 |
| Education |
| University of California–Santa Barbara, M.S. |
| University of California–San Diego, B.A. |
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| Biography | |
| Kent Burns, CFA, is a senior vice president and portfolio manager for the Franklin Templeton Fixed Income Group. He specializes in U.S. multi-sector fixed income strategies and government-related bonds. Mr. Burns has been lead or co-lead portfolio manager of the Portfolio since its inception in 2011, and joined Franklin Advisers in 1994. He holds a B.A. in quantitative economics and decision science from University of California at San Diego, and a master's degree in economic theory from University of California at Santa Barbara. He is a Chartered Financial Analyst (CFA) charterholder and teaches review programs for CFA candidates. He is a member of the CFA Institute and the CFA Society of San Francisco. |
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