Franklin Resources Inc., the mutual fund giant based in San Mateo, Calif., has launched a strategic income fund, its first new offering since May.

The fund invests in securities issued by U.S. and foreign governments, as well as their affiliated agencies, and foreign and domestic high-yield corporate bonds, common preferred stocks, and mortgage-backed and convertible securities. The minimum initial investment required is $100, and subsequent purchases can be made for as little as $25

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