Fund Description: Franklin Universal Trust is an exchange-traded closed-end fund or a closed-end ETF which is officially described as a diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The Fund seeks to provide high current income consistent with preservation of capital. Its secondary objective is growth of income through dividend increases and capital appreciation. <p> FUND STRATEGY: The Fund invests primarily in two asset classes: high yield bonds and utility stocks. Within the high yield portion of the portfolio, they use fundamental research to invest in a diversified portfolio of bonds. Within the utility portion of the portfolio, they focus on companies with attractive dividend yields and with a history of increasing their dividends. <p> FUND MANAGEMENT: The fund's investment advisor is Franklin Advisors, Inc., a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN) whose primary business is the Franklin Templeton Group.