February 1, 2013
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Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks.
You can find the Funds prospectus, statement of additional information and other information about the Fund online at
www.franklintempleton.com/prospectus. You can also get this information at no cost by calling (800) DIAL BEN/342-5236 or by
sending an e-mail request to prospectus@franklintempleton.com. The Fund's prospectus and statement of additional information, both dated February 1, 2013, as may be supplemented, are all incorporated by reference into this Summary Prospectus.
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Class A
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Class B
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Class C
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Class R
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Advisor Class
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FRDPX
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FRDBX
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FRDTX
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FRDRX
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FRDAX
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Franklin Managed Trust
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SUMMARY PROSPECTUS
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Franklin
Rising Dividends Fund
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Investment Goal
Long-term capital appreciation. Preservation of capital, while not a goal, is also an important consideration.
Fees and Expenses of the Fund
These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at
least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under Your Account on page 27 in the Fund's Prospectus and under Buying and Selling Shares on page 34 of the Funds Statement
of Additional Information.
SHAREHOLDER FEES
(fees paid directly from your investment)
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Class A
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Class B
1
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Class C
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Class R
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Advisor
Class
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Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)
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5.75%
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None
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None
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None
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None
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Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)
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None
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4.00%
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1.00%
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None
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None
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1. New or additional investments into Class B are no longer permitted.
ANNUAL FUND OPERATING EXPENSES
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(expenses that you pay each year as a percentage of the value of your investment)
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Class A
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Class B
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Class C
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Class R
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Advisor
Class
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Management fees
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0.53%
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0.53%
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0.53%
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0.53%
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0.53%
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Distribution and service (12b-1) fees
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0.25%
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1.00%
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1.00%
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0.50%
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None
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Other expenses
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0.19%
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0.19%
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0.19%
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0.19%
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0.19%
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Acquired fund fees and expenses
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0.01%
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0.01%
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0.01%
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0.01%
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0.01%
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Total annual Fund operating expenses
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0.98%
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1.73%
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1.73%
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1.23%
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0.73%
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Fee waiver and/or expense reimbursement
1
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-0.01%
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-0.01%
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-0.01%
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-0.01%
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-0.01%
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Total annual Fund operating expenses after fee waiver and/or expense reimbursement
2
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0.97%
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1.72%
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1.72%
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1.22%
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0.72%
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1. Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights,
which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.
2. The investment manager has contractually agreed in advance to reduce its fee as a result of the Fund's investment in a Franklin
Templeton money fund (acquired fund) for at least the next 12-month period. Contractual fee waiver and/or expense reimbursement
agreements may not be terminated during the term set forth above.
Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual
funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your
shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's
operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee
waiver and/or expense reimbursement by the investment manager and/or administrator for the 1 Year numbers only. Although your
actual costs may be higher or lower, based on these assumptions your costs would be:
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1 Year
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3 Years
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5 Years
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10 Years
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Class A
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$ 668
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$ 868
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$ 1,085
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$ 1,707
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Class B
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$ 575
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$ 844
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$ 1,138
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$ 1,842
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Class C
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$ 275
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$ 544
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$ 938
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$ 2,041
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Class R
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$ 124
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$ 389
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$ 675
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$ 1,488
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Advisor Class
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$ 74
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$ 232
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$ 405
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$ 906
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If you do not sell your shares:
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Class B
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$ 175
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$ 544
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$ 938
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$ 1,842
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Class C
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$ 175
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$ 544
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$ 938
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$ 2,041
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Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A
higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held
in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the
Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 2.77% of the average value of its portfolio.
Principal Investment Strategies
Under normal market conditions, the Fund invests at least 80% of its net assets in investments of companies that have paid
consistently rising dividends. The Fund invests predominantly in equity securities, primarily common stock. Companies that
have paid consistently rising dividends include those companies that currently pay dividends on their common stocks and have
maintained or increased their dividend rate during the last four consecutive years.
Under normal market conditions, the Fund invests at least 65% of its net assets in securities of companies that have:
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consistently increased dividends in at least 8 out of the last 10 years and have not decreased dividends during that time;
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increased dividends substantially (at least 100%) over the last 10 years;
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reinvested earnings, paying out less than 65% of current earnings in dividends (except for utility companies);
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either long-term debt that is no more than 50% of total capitalization (except for utility companies) or senior debt that
has been rated investment grade by at least one of the major bond rating organizations; and
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attractive prices, either: (1) in the lower half of the stock's price/earnings ratio range for the past 10 years; or (2) less
than price/earnings ratio of the Standard & Poor's
®
500 Stock Index (this criterion applies only at the time of purchase).
The Fund typically invests the rest of its assets in equity securities of companies that pay dividends but do not meet all
of these criteria. The Fund may invest in companies of any size, across the entire market spectrum including smaller and midsize
companies. Although the investment manager searches for investments that it believes to meet the criteria across all sectors,
from time to time, based on economic conditions, the Fund may have significant positions in particular sectors.
The investment manager is a research driven, fundamental investor. As a "bottom-up" investor focusing primarily on individual
securities, the investment manager looks for companies that it believes meet the criteria above and are fundamentally sound
and attempts to acquire them at attractive prices. In following these criteria, the Fund does not necessarily focus on companies
whose securities pay a high dividend rate but rather on companies that consistently increase their dividends.
The Fund may invest up to 25% of its total assets in foreign securities.
Principal Risks
You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed
by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency
of the U.S. government.
Market
The market values of securities owned by the Fund will go up or down, sometimes rapidly or unpredictably. A securitys
market value may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic
risk associated with all securities. When there are more sellers than buyers, prices tend to fall. Likewise, when there are
more buyers than sellers, prices tend to rise.
Individual stock prices tend to go up and down more dramatically than those of other types of investments. A slower-growth
or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.
Dividend-Oriented Companies
Companies that have historically paid regular dividends to shareholders may decrease or eliminate dividend payments in the
future. A decrease in dividend payments by an issuer may result in a decrease in the value of the issuer's stock and less
available income for the portfolio.
Smaller and Midsize Companies
Securities issued by smaller and midsize companies may be more volatile in price than those of larger companies, involve substantial
risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain
growth prospects, lack of depth of management and funds for growth and development and limited or less developed product lines
and markets. In addition, smaller and midsize companies may be particularly affected by interest rate increases, as they may
find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans.
Focus
To the extent that the Fund focuses on particular countries, regions, industries, sectors or types of investment from time
to time, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests
in a wider variety of countries, regions, industries, sectors or investments.
Foreign Securities
Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to
currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation
and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign
operations.
Management
The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager
applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee
that these decisions will produce the desired results.
Performance
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes
in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for
1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the
future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.
Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.
CLASS A ANNUAL TOTAL RETURNS
Best Quarter:
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Q2'09
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14.00%
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Worst Quarter:
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Q4'08
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-15.66%
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AVERAGE ANNUAL TOTAL RETURNS
(figures reflect sales charges)
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For the periods ended December 31, 2012
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1 Year
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5 Years
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10 Years
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Franklin Rising Dividends Fund - Class A
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Return Before Taxes
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3.96%
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2.48%
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6.04%
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Return After Taxes on Distributions
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3.73%
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2.28%
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5.73%
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Return After Taxes on Distributions and Sale of Fund Shares
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2.87%
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2.08%
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5.25%
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Franklin Rising Dividends Fund - Class B
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5.45%
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2.57%
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6.08%
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Franklin Rising Dividends Fund - Class C
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8.47%
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2.94%
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5.91%
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Franklin Rising Dividends Fund - Class R
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9.99%
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3.44%
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6.45%
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Franklin Rising Dividends Fund - Advisor Class
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10.56%
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3.97%
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6.86%
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S&P 500
®
Index (index reflects no deduction for fees, expenses or taxes)
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16.00%
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1.66%
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7.10%
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Historical performance for Advisor Class shares prior to its inception is based on the performance of Class A shares. Such
Advisor Class performance has been adjusted to reflect differences in sales charges between classes.
The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not
reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ
from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns
for other classes will vary.
Investment Manager
Franklin Advisory Services, LLC (Advisory Services)
Portfolio Managers
DONALD G. TAYLOR, CPA
Senior Vice President of Advisory Services and portfolio manager of the Fund since 1996.
WILLIAM J. LIPPMAN
President of Advisory Services and portfolio manager of the Fund since inception (1987).
MARGARET MCGEE
Vice President of Advisory Services and portfolio manager of the Fund since 1988.
BRUCE C. BAUGHMAN, CPA
Senior Vice President of Advisory Services and portfolio manager of the Fund since inception (1987).
Purchase and Sale of Fund Shares
You may purchase or redeem shares of the Fund on any business day online through our website at franklintempleton.com, by
mail (Franklin Templeton Investor Services, P.O. Box 997151, Sacramento, CA 95899-7151), or by telephone at (800) 632-2301.
The minimum initial purchase for most accounts is $1,000 (or $50 under an automatic investment plan).
Taxes
The Funds distributions are generally taxable to you as ordinary income, capital gains, or some combination of both,
unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or an individual retirement account.
Payments to Broker-Dealers and
Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related
companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict
of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another
investment. Ask your financial advisor or visit your financial intermediary's website for more information.
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Franklin Templeton Distributors, Inc.
One Franklin Parkway
San Mateo, CA 94403-1906
franklintempleton.com
Franklin
Rising Dividends Fund
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Investment Company Act file #811-04894
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© 2013 Franklin Templeton Investments. All rights reserved.
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158 PSUM 02/13
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00070358
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