Neither of his funds, though, has been a typical growth and income fund.
However, investors now have the option of global income funds, which can help.
Therefore, income funds with millions of dollars in hand can drive good bargains.
Included in these are 36 state and federal tax free income funds, an area of investment pioneered by Franklin.
Anyone who can readily figure that out deserves a job managing a foreign income fund.
The company offers over 100 equity and fixed income mutual funds.
Many moved their money into short-term global income funds.
More conservative growth and income funds, he said, have picked up some money from people adding to their individual retirement accounts.
His new growth and income fund has gained 30.6 percent, compared with 16.9 percent for its group.
Income funds own shares that pay high dividends, losing value as rates rise.