158 P1 09/18
SUPPLEMENT DATED SEPTEMBER 10, 2018
TO THE PROSPECTUS DATED FEBRUARY 1, 2018
OF
FRANKLIN MANAGED TRUST
Franklin Rising Dividends Fund
The prospectus is amended as follows:
I. The following replaces the “Shareholder Fees” and “Example” tables in the “Fund Summary – Fees and Expenses of the Fund” section of the prospectus:
Shareholder Fees
(fees paid directly from your investment)
|
Class A1 |
Class C2 |
Class R |
Class R6 |
Advisor Class |
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) |
5.50% |
None |
None |
None |
None |
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) |
None |
1.00% |
None |
None |
None |
1. There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.
2. Effective October 5, 2018, Class C shares that have been held for 10 years or more will convert automatically into Class A shares later in the month of October 2018 and will be subject to Class A shares’ lower Rule 12b-1 fees. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C shares’ purchase date. Such conversions will be on the basis of the relative net asset values of the two classes, will not be subject to Class A shares’ sales charges and are not expected to be a taxable event for federal income tax purposes. Certain shares that are invested through retirement plans, omnibus accounts or in certain other instances may not automatically convert if the financial intermediary does not have the ability to track purchases to credit individual shareholders’ holding periods. (See “Your Account – Choosing a Shares Class – Sales Charges – Class C – Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period” for more information.)
Example
|
1 Year |
3 Years |
5 Years |
10 Years |
Class A |
$ 637 |
$ 821 |
$ 1,021 |
$ 1,597 |
Class C |
$ 268 |
$ 520 |
$ 897 |
$ 1,955 |
Class R |
$ 117 |
$ 365 |
$ 633 |
$ 1,398 |
Class R6 |
$ 55 |
$ 173 |
$ 302 |
$ 677 |
Advisor Class |
$ 66 |
$ 208 |
$ 362 |
$ 810 |
If you do not sell your shares: |
|
|
|
|
Class C |
$ 168 |
$ 520 |
$ 897 |
$ 1,955 |
II. The following is added to the “Fund Summary – Performance” section of the prospectus:
The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.
III. The first chart under the “Your Account – Choosing a Share Class” section of the prospectus is replaced with the following:
Class A |
Class C |
Class R |
Class R6 |
Advisor Class |
Initial sales charge of 5.50% or less |
No initial sales charge |
No initial sales charge |
See "Qualified Investors - Class R6" below |
See "Qualified Investors - Advisor Class" below |
Deferred sales charge of 1% on purchases of $1 million or more sold within 18 months |
Deferred sales charge of 1% on shares you sell within 12 months |
Deferred sales charge is not applicable |
|
|
Lower annual expenses than Class C or R due to lower distribution fees |
Higher annual expenses than Class A due to higher distribution fees. Automatic conversion to Class A shares after approximately ten years, reducing future annual expenses. |
Higher annual expenses than Class A due to higher distribution fees (lower than Class C). No conversion to Class A shares, so annual expenses do not decrease. |
|
|
1
IV. The first chart under the “Your Account – Choosing a Share Class – Class A, C & R – Sales Charges – Class A” section of the prospectus is replaced with the following:
when you invest this amount |
the sales charge makes up this % of the offering price1 |
which equals this % of your net investment1 |
Under $50,000 |
5.50% |
5.82% |
$50,000 but under $100,000 |
4.50% |
4.71% |
$100,000 but under $250,000 |
3.50% |
3.63% |
$250,000 but under $500,000 |
2.50% |
2.56% |
$500,000 but under $1 million |
2.00% |
2.04% |
1. The dollar amount of the sales charge is the difference between the offering price of the shares purchased (which factors in the applicable sales charge in this table) and the net asset value of those shares. Since the offering price is calculated to two decimal places using standard rounding criteria, the number of shares purchased and the dollar amount of the sales charge as a percentage of the offering price and of your net investment may be higher or lower depending on whether there was a downward or upward rounding.
V. The following is added to the “Your Account – Choosing a Shares Class – Sales Charges - Class A – Sales Charge Waivers – Waivers for certain investors” section:
• Class C shareholders whose shares are converted to Class A shares after 10 years under the Class C shares’ conversion feature.
VI. The “Notice of Automatic Conversion of Class C Shares to Class A Shares after 10-Year Holding Period” section under the “Your Account” section of the prospectus is removed and the following is added after the “Your Account – Choosing a Shares Class – Sales Charges – Class C – Distribution and Service (12b-1) Fees” section:
Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period
Effective on October 5, 2018, Class C shares’ conversion feature will become effective. The conversion feature provides that Class C shares that have been held for 10 years or more will automatically convert into Class A shares and will be subject to Class A shares’ lower Rule 12b-1 fees (the “Conversion Feature”). On or about October 19, 2018, Class C shares of the Fund that have been outstanding for 10 years or more will automatically convert to Class A shares of the Fund on the basis of the relative net asset values of the two classes. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C (or Class C1) shares’ purchase date. The monthly conversion date is expected to occur around the middle of every month and generally falls on a Friday.
Terms of the Conversion Feature. Class C shares that automatically convert to Class A shares of the Fund will convert on the basis of the relative net asset values of the two classes. Shareholders will not pay a sales charge, including a CDSC, upon the conversion of their Class C shares to Class A shares pursuant to the Conversion Feature. The automatic conversion of the Fund’s Class C shares into Class A shares after the 10-year holding period is not expected to be a taxable event for federal income tax purposes. Shareholders should consult with their tax advisor regarding the state and local tax consequences of such conversions.
If you previously owned Class C1 shares of the Fund, the time you held such shares will count towards the 10-year period for automatic conversion to Class A shares. Class C (or Class C1) shares of the Fund acquired through automatic reinvestment of dividends or distributions will convert to Class A shares of the Fund on the conversion date pro rata with the converting Class C shares of the Fund that were not acquired through reinvestment of dividends or distributions.
Class C shares held through a financial intermediary in an omnibus account will be automatically converted into Class A shares only if the intermediary can document that the shareholder has met the required holding period. In certain circumstances, when shares are invested through retirement plans, omnibus accounts, and in certain other instances, the Fund and its agents may not have transparency into how long a shareholder has held Class C (or Class C1) shares for purposes of determining whether such Class C shares are eligible for automatic conversion into Class A shares and the financial intermediary may not have the ability to track purchases to credit individual shareholders’ holding periods. This primarily occurs when shares are invested through certain record keepers for group retirement plans, where the intermediary cannot track share aging at the participant level. In these circumstances, the Fund will not be able to automatically convert Class C shares into Class A shares as described above. In order to determine eligibility for conversion in these circumstances, it is the responsibility of the shareholder or their financial intermediary to notify the Fund that the shareholder is eligible for the conversion of Class C shares to Class A shares, and the shareholder or their financial intermediary may be required to maintain and provide the Fund with records that substantiate the holding period of Class C (and, if applicable, Class C1) shares. In these circumstances, it is the financial intermediary’s (and not the Fund’s) responsibility to keep records and to ensure that the shareholder is credited with the proper holding period. Please consult with your financial intermediary about your shares’ eligibility for this conversion feature.
2
Also effective October 5, 2018, new accounts or plans may not be eligible to purchase Class C shares of the Fund if it is determined that the intermediary cannot track shareholder holding periods to determine whether a shareholder’s Class C shares are eligible for conversion to Class A shares. Accounts or plans (and their successor, related and affiliated plans) that have Class C (or Class C1) shares of the Fund available to participants on or before October 5, 2018, may continue to open accounts for new participants in that share class and purchase additional shares in existing participant accounts. The Fund has no responsibility for overseeing, monitoring or implementing a financial intermediary’s process for determining whether a shareholder meets the required holding period for conversion.
A financial intermediary may sponsor and/or control accounts, programs or platforms that impose a different conversion schedule or different eligibility requirements for the conversion of Class C shares into Class A shares. In these cases, Class C shareholders may convert to Class A shares under the policies of the financial intermediary and the conversion may be structured as an exchange of Class C shares for Class A shares of the Fund. Financial intermediaries will be responsible for making such exchanges in those circumstances. Please consult with your financial intermediary if you have any questions regarding your shares’ conversion from Class C shares to Class A shares.
VII. The following replaces the first sentence in the “Your Account – Choosing a Shares Class – Reinstatement Privilege” section:
If you sell any class of shares of a Franklin Templeton Investments fund, you may reinvest all or a portion of the proceeds from that sale within 90 days within the same share class (or share class equivalent if the share class you redeemed from is closed to new investors) without an initial sales charge.
VIII. The following is added to the “Your Account – Exchanging Shares – Exchange Privilege” section:
Exchange Effects on Class C Conversion Feature. Effective October 5, 2018, if you exchange your Class C shares for the same class of shares of another Franklin Templeton fund, the time your shares are held in the initial Fund will count towards the 10-year period for automatic conversion to Class A shares.
IX. The following replaces the first paragraph under the “Your Account – Account Policies – Calculating Share Price – Class A & C” section of the prospectus:
When you buy shares, you pay the "offering price" for the shares. The "offering price" is determined by dividing the NAV per share by an amount equal to 1 minus the sales charge applicable to the purchase (expressed in decimals), calculated to two decimal places using standard rounding criteria. The number of Fund shares you will be issued will equal the amount invested divided by the applicable offering price for those shares, calculated to three decimal places using standard rounding criteria. For example, if the NAV per share is $10.25 and the applicable sales charge for the purchase is 5.50%, the offering price would be calculated as follows: 10.25 divided by 1.00 minus 0.055 [10.25/0.945] equals 10.582011, which, when rounded to two decimal points, equals 10.58. The offering price per share would be $10.58.
X. The following replaces the chart under the “Your Account – Account Policies – Dealer Compensation – Class A, C & R” section of the prospectus:
|
Class A |
Class C |
Class R |
Commission (%) |
— |
1.001 |
— |
Investment under $50,000 |
5.00 |
— |
— |
$50,000 but under $100,000 |
4.00 |
— |
— |
$100,000 but under $250,000 |
3.00 |
— |
— |
$250,000 but under $500,000 |
2.25 |
— |
— |
$500,000 but under $1 million |
1.75 |
— |
— |
$1 million or more |
up to 1.00 |
— |
— |
12b-1 fee to dealer |
0.252 |
1.003 |
0.50 |
3
1. Commission includes advance of the first year's 0.25% 12b-1 service fee. Distributors may pay a prepaid commission. However, Distributors does not pay a prepaid commission on any purchases by Employer Sponsored Retirement Plans.
2. For purchases at NAV where Distributors paid a prepaid commission, dealers may start to receive the 12b-1 fee in the 13th month after purchase. For purchases at NAV where Distributors did not pay a prepaid commission, dealers may start to receive the 12b-1 fee at the time of purchase.
3. Dealers may be eligible to receive up to 0.25% at the time of purchase and may be eligible to receive 1% starting in the 13th month. During the first 12 months, the full 12b-1 fee will be paid to Distributors to partially offset the commission and the prepaid service fee paid at the time of purchase. For purchases at NAV where Distributors did not pay a prepaid commission, dealers may start to receive the 12b-1 fee at the time of purchase. After approximately 10 years, Class C shares convert to Class A shares and dealers may then be eligible to receive the 12b-1 fee applicable to Class A.
Please keep this supplement with your prospectus for future reference.
4
158 SA1 09/18
SUPPLEMENT DATED SEPTEMBER 10, 2018
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 2018
OF
FRANKLIN MANAGED TRUST
Franklin Rising Dividends Fund
The Statement of Additional Information (“SAI”) is amended as follows:
I. The following replaces the first sentence under “Buying and Selling shares – Initial sales charges:”
The maximum initial sales charge is 5.50% for Class A.
II. The following replaces the second paragraph under “Buying and Selling shares – Initial sales charges – Financial intermediary compensation:”
Distributors may pay the following commissions to financial intermediaries who initiate and are responsible for purchases of Class A shares in the following amounts:
Amount of Investment |
For Funds with an initial sales charge of 5.50% (%) |
For Funds with an initial sales charge of 4.25% (%) |
For Funds with an initial sales charge of 2.25% (%) |
Under $50,000 |
5.00 |
4.00 |
2.00 |
$50,000 but under $100,000 |
4.00 |
4.00 |
2.00 |
$100,000 but under $250,000 |
3.00 |
3.00 |
1.75 |
$250,000 but under $500,000 |
2.25 |
2.25 |
1.25 |
$500,000 but under $1 million |
1.75 |
1.00 |
1.00 |
$1 million but under $4 million |
1.00 |
1.00 |
1.00 |
$4 million but under $10 million |
1.00 |
1.00 |
1.00 |
$10 million but under $50 million |
0.50 |
0.50 |
0.50 |
$50 million or more |
0.25 |
0.25 |
0.25 |
Consistent with the provisions and limitations set forth in its Class A Rule 12b-1 distribution plan, the Fund may reimburse Distributors for the cost of these commission payments.
III. The following replaces the first paragraph under “Buying and Selling shares – Contingent deferred sales charge (CDSC) - Class A & C:”
Contingent deferred sales charge (CDSC) - Class A & C If you invest any amount in Class C shares, $1 million or more in Class A shares of mutual funds with a maximum initial sales charge of 5.50% or $500,000 or more for mutual funds with a maximum initial sales charge of 4.25% or 2.25%, either as a lump sum or through our cumulative quantity discount or letter of intent programs, a CDSC may apply on any Class A shares you sell within 18 months and any Class C shares you sell within 12 months of purchase. The CDSC is 1% of the value of the shares sold or the net asset value at the time of purchase, whichever is less, for Class A shares of mutual funds with a maximum initial sales charge of 5.50% and for Class C shares. The CDSC is 0.75% of the value of the shares sold or the net asset value at the time of purchase, whichever is less, for Class A shares of mutual funds with a maximum initial sales charge of 4.25% or 2.25%; however this CDSC will change to 1.00% on or after March 10, 2020.
Please keep this supplement with your SAI for future reference.
1
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Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 497 |
Document Period End Date | dei_DocumentPeriodEndDate | Sep. 30, 2017 |
Registrant Name | dei_EntityRegistrantName | FRANKLIN MANAGED TRUST |
Central Index Key | dei_EntityCentralIndexKey | 0000805650 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Sep. 10, 2018 |
Document Effective Date | dei_DocumentEffectiveDate | Sep. 10, 2018 |
Prospectus Date | rr_ProspectusDate | Sep. 10, 2018 |
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Fund Summary | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Goal | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term capital appreciation. Preservation of capital, while not a goal, is also an important consideration. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fees and Expenses of the Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under Your Account on page 25 in the Fund's Prospectus and under Buying and Selling Shares on page 39 of the Funds Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus. Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Example | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
If you do not sell your shares: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portfolio Turnover | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 3.09% of the average value of its portfolio. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal Investment Strategies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Under normal market conditions, the Fund invests at least 80% of its net assets in investments of companies that have paid consistently rising dividends. The Fund invests predominantly in equity securities, primarily common stock. Companies that have paid consistently rising dividends include those companies that currently pay dividends on their common stocks and have maintained or increased their dividend rate during the last four consecutive years. Under normal market conditions, the Fund invests at least 65% of its net assets in securities of companies that have: consistently increased dividends in at least 8 out of the last 10 years and have not decreased dividends during that time; increased dividends substantially (at least 100%) over the last 10 years; reinvested earnings, paying out less than 65% of current earnings in dividends (except for utility companies); either long-term debt that is no more than 50% of total capitalization (except for utility companies) or senior debt that has been rated investment grade by at least one of the major bond rating organizations; and attractive prices, either: (1) in the lower half of the stock's price/earnings ratio range for the past 10 years; or (2) less than the price/earnings ratio of the Standard & Poor's® 500 Stock Index (this criterion applies only at the time of purchase). The Fund typically invests the rest of its assets in equity securities of companies that pay dividends but do not meet all of these criteria. The Fund may invest in companies of any size, across the entire market spectrum. Although the investment manager searches for investments that it believes to meet the criteria across all sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular sectors. The investment manager is a research driven, fundamental investor. As a "bottom-up" investor focusing primarily on individual securities, the investment manager looks for companies that it believes meet the criteria above and are fundamentally sound and attempts to acquire them at attractive prices. In following these criteria, the Fund does not necessarily focus on companies whose securities pay a high dividend rate but rather on companies that consistently increase their dividends. The Fund may invest up to 25% of its total assets in foreign securities. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal Risks | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government. Market The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise. Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund. Dividend-Oriented Companies Companies that have historically paid regular dividends to shareholders may decrease or eliminate dividend payments in the future. A decrease in dividend payments by an issuer may result in a decrease in the value of the issuer's stock and less available income for the Fund. Smaller and Midsize Companies Securities issued by smaller and midsize companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development, and limited or less developed product lines and markets. In addition, smaller and midsize companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans. Focus To the extent that the Fund focuses on particular countries, regions, industries, sectors or types of investment from time to time, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of countries, regions, industries, sectors or investments. Foreign Securities Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations. Management The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236. Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Annual Total Returns | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Average Annual Total Returns For the periods ended December 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary. |
Label | Element | Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Registrant Name | dei_EntityRegistrantName | FRANKLIN MANAGED TRUST | ||||||||
Prospectus Date | rr_ProspectusDate | Sep. 10, 2018 | ||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Fund Summary | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Goal | ||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | Long-term capital appreciation. Preservation of capital, while not a goal, is also an important consideration. | ||||||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under Your Account on page 25 in the Fund's Prospectus and under Buying and Selling Shares on page 39 of the Funds Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus. Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares. |
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Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) | ||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
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Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 3.09% of the average value of its portfolio. |
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 3.09% | ||||||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. | ||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | If you do not sell your shares: | ||||||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Under normal market conditions, the Fund invests at least 80% of its net assets in investments of companies that have paid consistently rising dividends. The Fund invests predominantly in equity securities, primarily common stock. Companies that have paid consistently rising dividends include those companies that currently pay dividends on their common stocks and have maintained or increased their dividend rate during the last four consecutive years. Under normal market conditions, the Fund invests at least 65% of its net assets in securities of companies that have: consistently increased dividends in at least 8 out of the last 10 years and have not decreased dividends during that time; increased dividends substantially (at least 100%) over the last 10 years; reinvested earnings, paying out less than 65% of current earnings in dividends (except for utility companies); either long-term debt that is no more than 50% of total capitalization (except for utility companies) or senior debt that has been rated investment grade by at least one of the major bond rating organizations; and attractive prices, either: (1) in the lower half of the stock's price/earnings ratio range for the past 10 years; or (2) less than the price/earnings ratio of the Standard & Poor's® 500 Stock Index (this criterion applies only at the time of purchase). The Fund typically invests the rest of its assets in equity securities of companies that pay dividends but do not meet all of these criteria. The Fund may invest in companies of any size, across the entire market spectrum. Although the investment manager searches for investments that it believes to meet the criteria across all sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular sectors. The investment manager is a research driven, fundamental investor. As a "bottom-up" investor focusing primarily on individual securities, the investment manager looks for companies that it believes meet the criteria above and are fundamentally sound and attempts to acquire them at attractive prices. In following these criteria, the Fund does not necessarily focus on companies whose securities pay a high dividend rate but rather on companies that consistently increase their dividends. The Fund may invest up to 25% of its total assets in foreign securities. |
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Risk [Heading] | rr_RiskHeading | Principal Risks | ||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government. Market The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise. Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund. Dividend-Oriented Companies Companies that have historically paid regular dividends to shareholders may decrease or eliminate dividend payments in the future. A decrease in dividend payments by an issuer may result in a decrease in the value of the issuer's stock and less available income for the Fund. Smaller and Midsize Companies Securities issued by smaller and midsize companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development, and limited or less developed product lines and markets. In addition, smaller and midsize companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans. Focus To the extent that the Fund focuses on particular countries, regions, industries, sectors or types of investment from time to time, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of countries, regions, industries, sectors or investments. Foreign Securities Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations. Management The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results. |
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Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | ||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236. Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown. |
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. | ||||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | (800) DIAL BEN/342-5236 | ||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | franklintempleton.com | ||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. | ||||||||
Bar Chart [Heading] | rr_BarChartHeading | Class A Annual Total Returns | ||||||||
Bar Chart Does Not Reflect Sales Loads [Text] | rr_BarChartDoesNotReflectSalesLoads | Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown. | ||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock |
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Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Returns For the periods ended December 31, 2017 |
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Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary. |
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Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Class A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) | rr_MaximumCumulativeSalesChargeOverOfferingPrice | 5.50% | [1] | |||||||
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | [1] | |||||||
Management fees | rr_ManagementFeesOverAssets | 0.50% | ||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.15% | [2] | |||||||
Total annual Fund operating expenses | rr_ExpensesOverAssets | 0.90% | ||||||||
1 year | rr_ExpenseExampleYear01 | $ 637 | ||||||||
3 years | rr_ExpenseExampleYear03 | 821 | ||||||||
5 years | rr_ExpenseExampleYear05 | 1,021 | ||||||||
10 years | rr_ExpenseExampleYear10 | $ 1,597 | ||||||||
2008 | rr_AnnualReturn2008 | (27.22%) | ||||||||
2009 | rr_AnnualReturn2009 | 17.05% | ||||||||
2010 | rr_AnnualReturn2010 | 19.08% | ||||||||
2011 | rr_AnnualReturn2011 | 7.21% | ||||||||
2012 | rr_AnnualReturn2012 | 10.29% | ||||||||
2013 | rr_AnnualReturn2013 | 29.30% | ||||||||
2014 | rr_AnnualReturn2014 | 9.72% | ||||||||
2015 | rr_AnnualReturn2015 | (3.54%) | ||||||||
2016 | rr_AnnualReturn2016 | 14.41% | ||||||||
2017 | rr_AnnualReturn2017 | 20.29% | ||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter: | ||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 14.00% | ||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter: | ||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | ||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (15.66%) | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Class C | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) | rr_MaximumCumulativeSalesChargeOverOfferingPrice | none | [3] | |||||||
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | [3] | |||||||
Management fees | rr_ManagementFeesOverAssets | 0.50% | ||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | ||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.15% | [2] | |||||||
Total annual Fund operating expenses | rr_ExpensesOverAssets | 1.65% | ||||||||
1 year | rr_ExpenseExampleYear01 | $ 268 | ||||||||
3 years | rr_ExpenseExampleYear03 | 520 | ||||||||
5 years | rr_ExpenseExampleYear05 | 897 | ||||||||
10 years | rr_ExpenseExampleYear10 | 1,955 | ||||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 168 | ||||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 520 | ||||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 897 | ||||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,955 | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Class R | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) | rr_MaximumCumulativeSalesChargeOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||||
Management fees | rr_ManagementFeesOverAssets | 0.50% | ||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.50% | ||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.15% | [2] | |||||||
Total annual Fund operating expenses | rr_ExpensesOverAssets | 1.15% | ||||||||
1 year | rr_ExpenseExampleYear01 | $ 117 | ||||||||
3 years | rr_ExpenseExampleYear03 | 365 | ||||||||
5 years | rr_ExpenseExampleYear05 | 633 | ||||||||
10 years | rr_ExpenseExampleYear10 | $ 1,398 | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Class R6 | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) | rr_MaximumCumulativeSalesChargeOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||||
Management fees | rr_ManagementFeesOverAssets | 0.50% | ||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.04% | [2] | |||||||
Total annual Fund operating expenses | rr_ExpensesOverAssets | 0.54% | ||||||||
1 year | rr_ExpenseExampleYear01 | $ 55 | ||||||||
3 years | rr_ExpenseExampleYear03 | 173 | ||||||||
5 years | rr_ExpenseExampleYear05 | 302 | ||||||||
10 years | rr_ExpenseExampleYear10 | $ 677 | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Advisor Class | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) | rr_MaximumCumulativeSalesChargeOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||||
Management fees | rr_ManagementFeesOverAssets | 0.50% | ||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.15% | [2] | |||||||
Total annual Fund operating expenses | rr_ExpensesOverAssets | 0.65% | ||||||||
1 year | rr_ExpenseExampleYear01 | $ 66 | ||||||||
3 years | rr_ExpenseExampleYear03 | 208 | ||||||||
5 years | rr_ExpenseExampleYear05 | 362 | ||||||||
10 years | rr_ExpenseExampleYear10 | $ 810 | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Return Before Taxes | Class A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Column | rr_AverageAnnualReturnColumnName | Franklin Rising Dividends Fund | ||||||||
Label | rr_AverageAnnualReturnLabel | Return Before Taxes | ||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 13.37% | ||||||||
Past 5 years | rr_AverageAnnualReturnYear05 | 12.16% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | 7.85% | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Return Before Taxes | Class C | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 18.40% | ||||||||
Past 5 years | rr_AverageAnnualReturnYear05 | 12.65% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | 7.68% | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Return Before Taxes | Class R | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 19.98% | ||||||||
Past 5 years | rr_AverageAnnualReturnYear05 | 13.21% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | 8.22% | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Return Before Taxes | Class R6 | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 20.78% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | |||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 12.37% | [4] | |||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | Return Before Taxes | Advisor Class | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 20.60% | ||||||||
Past 5 years | rr_AverageAnnualReturnYear05 | 13.78% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | 8.77% | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | After Taxes on Distributions | Class A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Column | rr_AverageAnnualReturnColumnName | Franklin Rising Dividends Fund | ||||||||
Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions | ||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 12.45% | ||||||||
Past 5 years | rr_AverageAnnualReturnYear05 | 11.36% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | 7.35% | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | After Taxes on Distributions and Sales | Class A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Column | rr_AverageAnnualReturnColumnName | Franklin Rising Dividends Fund | ||||||||
Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions and Sale of Fund Shares | ||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 8.28% | ||||||||
Past 5 years | rr_AverageAnnualReturnYear05 | 9.59% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | 6.31% | ||||||||
Franklin Rising Dividends Fund-18 | Franklin Rising Dividends Fund | S&P 500® Index (index reflects no deduction for fees, expenses or taxes) | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Past 1 year | rr_AverageAnnualReturnYear01 | 21.83% | ||||||||
Past 5 years | rr_AverageAnnualReturnYear05 | 15.79% | ||||||||
Past 10 years | rr_AverageAnnualReturnYear10 | 8.50% | ||||||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | FRANKLIN MANAGED TRUST |
Prospectus Date | rr_ProspectusDate | Sep. 10, 2018 |
Document Creation Date | dei_DocumentCreationDate | Sep. 10, 2018 |
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