Franklin Templeton — Franklin High Income Fund

• Franklin High Income Fund Commentary ↗ Franklin High Income Fund maintained a ratings-quality tilt favoring C-rated bonds and benefited from automotive selections, energy overweighting and reduced wired and wireless exposure. The fund remains cautious on distressed credits as supply, geopolitical tensions, inflation and policy risks weigh against resilient corporate fundamentals and low defaults. third quarter of 2026 —

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