Toronto-based Franklin Templeton Investments Corp. announced on Tuesday the launch of Franklin Bissett Monthly Income and Growth Fund, which is targeted to investors seeking income generation and capital appreciation while also looking to reduce portfolio volatility.

The new fund is a balanced fund that focuses mainly on Canadian equity and fixed-income markets, with up to 30% of its exposure in the U.S. and abroad. The strategy emphasizes total returns within a disciplined risk-management framework. The fund’s monthly income is derived primarily from Canadian and U.S. dividends, interest income and option premiums.

“We focus on investing in dividend-paying or income-producing equity securities of high-quality businesses with long-term profitability and growth profiles, which have a proven ability to deliver consistent and growing levels of dividends over time,” said Garey Aitken, chief investment officer with Calgary-based Franklin Bissett Investment Management, the team managing the fund, in a statement. “This is paired with fixed-income strategies within Canada and abroad.”

Aitken and Tim Caulfield, vice president and director of equity research with Franklin Bissett Investment Management, will oversee the fund’s equity holdings. Tom O’Gorman, senior vice president and director of fixed-income, and Darcy Briggs, vice president and portfolio manager, will be in charge of the fund’s fixed-income investments.