Franklin Universal Trust is a closedended balanced mutual fund launched by Franklin Resources Inc The fund is managed by Franklin Advisers Inc It invests in the public equity and fixed income markets of the United States The fund invests in companies operating in utility sector It employs fundamental analysis to invest in a diversified portfolio of corporate bonds and dividend paying utility stocks The fund benchmarks the equity component of its balanced portfolio against the SP 500 Electric Utilities Index and the fixed component against the Credit Suisse High Yield Franklin Universal Trust was formed on September 23 1988 and is domiciled in the United States