Investment objective & strategy
As of April 28, 2025 · prospectusObjective. Capital appreciation.
Strategy. The Fund is a "fund of funds" meaning that it seeks to achieve its investment goal by investing its assets in a combination of the Franklin Growth Fund, Franklin Growth Opportunities Fund, Franklin Mutual Shares Fund and Templeton Growth Fund (underlying funds) on a fixed percentage basis. The Fund makes equal allocations (approximately 25%) to each of the underlying funds. The administrator rebalances the Fund's investments in the underlying funds whenever the actual allocations exceed plus or minus 3% of the pre-determined fixed allocation percentages. The Fund's Board may approve additional or different underlying funds for investment (without the approval of shareholders). These underlying funds, in turn, invest primarily in U.S. and foreign equity securities. The Fund is a "fund of funds" meaning that it seeks to achieve its investment goal by investing its assets in a combination of the Franklin Growth Fund, Franklin Growth Opportunities Fund, Franklin Mutual Shares Fund and Templeton Growth Fund (underlying funds) on a fixed percentage basis. The Fund makes equal allocations (approximately 25%) to each of the underlying funds. The administrator rebalances the Fund's investments in the underlying funds whenever the actual allocations exceed plus or minus 3% of the pre-determined fixed allocation percentages. The Fund's Board may approve additional or different underlying funds for investment (without the approval of shareholders). These underlying funds, in turn, invest primarily in U.S. and foreign equity securities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Franklin Growth Fund, Class R6 | — | $241.93M | 25.49% |
| Templeton Growth Fund, Inc., Class R6 | — | $240.90M | 25.38% |
| Franklin Mutual Shares Fund, Class R6 | — | $233.41M | 24.59% |
| Franklin Growth Opportunities Fund, Class R6 | — | $232.12M | 24.45% |
| Franklin Institutional US Government Money Market Fund | INFXX | $586.02K | 0.06% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Franklin Growth Allocation Fund · FGTZX, FGTIX, FTGTX, FGTRX | 8% | 0.52% |
| Franklin LifeSmart 2060 Retirement Target Fund · FLJSX, FLFSX, FLASX, FLBSX, FLESX | 8% | 0.40% |
| Franklin LifeSmart 2055 Retirement Target Fund · FLTFX, FLTNX, FLSBX, FLSZX, FLTKX | 8% | 0.40% |
Advisers
| Firm | Role |
|---|---|
| Franklin Advisers, Inc. | Adviser |
Footnotes
- Expense ratio as of April 28, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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