Franklin High Income Fund Class A1 is a mutual fund designed to provide investors with a high level of current income as its primary objective. The fund achieves this by investing predominantly in high-yield, lower-rated debt securities, commonly referred to as "junk bonds". Its secondary aim is to pursue capital appreciation when it aligns with the fund’s principal goal of income generation. By focusing on high-yield bonds, the fund caters to investors willing to assume additional credit risk in exchange for the potential of enhanced income. Franklin High Income Fund Class A1 plays a notable role in the financial market by offering exposure to the high-yield segment of the fixed income universe, which can diversify an investor’s portfolio and provide an alternative to lower-yielding investment-grade bonds or equities.