Performance
Review performance across multiple time frames and sources of return, including the distributions rate and capital appreciation.
Total Returns
As of 10/31/2025
| Month End As of 10/31/2025 | YTD* | 3 Months* | 6 Months* | 1 Year | Since Inception 10/03/2022 |
|---|---|---|---|---|---|
| Advisor Class - Without Sales Charge (NAV) (%) | 3.21 | 0.17 | 2.65 | 7.54 | 10.03 |
| Morningstar LSTA U.S. Leveraged Loan Index (%) | 4.86 | 1.11 | 4.41 | 6.32 | 9.63 |
| ICE BofA US High Yield Index (%) | 7.27 | 2.19 | 6.26 | 8.03 | 10.54 |
Portfolio
Explore how Private Credit can affect your portfolio
Asset Allocation
As of 10/31/2025 (% of Managed Assets)
Featured Videos
Learn more about this fund and insights driving private credit markets.
Knowledge hub
Insight
The evolution of private credit
Franklin Templeton Institute examines the evolution of private credit, its risk/return characteristics, and why commercial real estate debt represents a viable alternative to traditional fixed income options.
Course
Private Credit
Earn CE credit while examining the merits of private credit and how they compare to public market equivalents. Distinguish between the different types of private credit options (direct lending, mezzanine, and distressed), and the related return, risk and income characteristics.
Documents
Name
Franklin BSP Private Credit Fund Fact Sheet
Franklin BSP Private Credit Fund Pitchbook
Franklin BSP Private Credit Fund Snapshot
Franklin BSP Private Credit Fund Quarterly Commentary
Franklin BSP Private Credit Fund: Repurchase Offer and Distribution Schedule
Understanding Interval Funds
- Distribution Rate is calculated by annualizing the most recent distribution amount paid, divided by the NAV as of the date indicated. The Distribution Rate calculation includes income and return of capital and includes a prorated special distribution in the month it is paid. The Distribution Rate is not guaranteed, subject to change, and is not a quotation of fund performance.
- Amount of the portfolio invested in Floating Rate debt. Floating Rate refers to any type of debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of interest over the life of the instrument.
- While the Fund is valued on a daily basis, redemptions are only offered quarterly and intends to make a repurchase offer between 5% - 25% of the outstanding shares at NAV. Under normal market conditions, the Fund currently expects to offer to repurchase 5% of outstanding shares per quarter, subject to approval by the Fund's Board.
- Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found in footnote 6 on the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
- Net Expense Ratio represents the expense ratio applicable to investors. Net expenses reflect contractual fee waivers, expense caps and/or reimbursements, which cannot be terminated prior to 04/30/2026 without Board consent. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice.
- The Net returns also reflect the Fund's incentive fee (if the Fund has charged the fee), which is 12.50% per quarter on the funds pre-incentive fee net investment income (with a 6.0% annualized hurdle rate), payable to the fund quarterly in arrears and subject to a catch up feature.
- Includes distribution and service (12b-1) fees; acquired fund fees and expenses; and other expenses.
Investment Risks:
All investments involve risks, including possible loss of principal. An investment in an interval fund is not suitable for all investors. Unlike closed-end funds, an interval fund's shares are not typically listed on a stock exchange. There is also no secondary market for the fund's shares, and none is expected to develop. An investment in the fund should be considered illiquid. The fund may be able to invest in private securities that are illiquid and thinly traded, which may limit the manager's ability to sell such securities at their fair market value or when necessary to meet the portfolio's liquidity needs. There is no guarantee that an investor will be able to tender all or any of their requested fund shares in a periodic repurchase offer. Shareholders should not expect to be able to sell their shares regardless of how the fund performs. Distributions are not guaranteed and are subject to change. To the extent the fund invests in privately held companies they present certain challenges and involve incremental risks as opposed to investments in public companies, such as dealing with the lack of available information about these companies as well as their general lack of liquidity. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. These and other risks are discussed in the fund’s prospectus.
Important Information
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Important data provider notices and terms available at https://www.franklintempletondatasources.com/
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Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliates companies. Prior to July 7, 2021, Franklin Templeton Distributors, Inc., and Legg Mason Investor Services, LLC served as mutual fund distributors for Franklin Templeton. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE. Reports and other information about the fund are available on the EDGAR Database on the SEC's Internet site at https://www.sec.gov/