<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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066 A000300 Y
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<PAGE> PAGE 20
070 A020300 Y
070 B010300 N
070 B020300 N
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070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
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070 L020300 N
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070 M020300 N
070 N010300 Y
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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SIGNATURE LAURA FERGERSON
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN MANAGED TRUST MARCH 31, 1998 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 031
<NAME> FRANKLIN CORPORATE QUALIFIED DIVIDEND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 20,666,622
<INVESTMENTS-AT-VALUE> 20,807,622
<RECEIVABLES> 3,713,245
<ASSETS-OTHER> 94,723
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24,615,590
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 161,378
<TOTAL-LIABILITIES> 161,378
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,142,164
<SHARES-COMMON-STOCK> 1,016,013
<SHARES-COMMON-PRIOR> 1,021,275
<ACCUMULATED-NII-CURRENT> 241,198
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,070,150)
<ACCUM-APPREC-OR-DEPREC> 141,000
<NET-ASSETS> 24,454,212
<DIVIDEND-INCOME> 511,005
<INTEREST-INCOME> 102,531
<OTHER-INCOME> 0
<EXPENSES-NET> (141,950)
<NET-INVESTMENT-INCOME> 471,586
<REALIZED-GAINS-CURRENT> (101,500)
<APPREC-INCREASE-CURRENT> 165,830
<NET-CHANGE-FROM-OPS> 535,916
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (503,429)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 170,845
<NUMBER-OF-SHARES-REDEEMED> (195,363)
<SHARES-REINVESTED> 19,256
<NET-CHANGE-IN-ASSETS> (91,291)
<ACCUMULATED-NII-PRIOR> 273,041
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (1,968,650)
<GROSS-ADVISORY-FEES> (59,602)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (141,950)
<AVERAGE-NET-ASSETS> 23,843,067
<PER-SHARE-NAV-BEGIN> 24.030
<PER-SHARE-NII> 0.480
<PER-SHARE-GAIN-APPREC> .070
<PER-SHARE-DIVIDEND> (0.510)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 24.070
<EXPENSE-RATIO> 1.190
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN MANAGED TRUST MARCH 31, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> FRANKLIN RISING DIVIDENDS FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 345,929,862
<INVESTMENTS-AT-VALUE> 517,753,761
<RECEIVABLES> 14,671,952
<ASSETS-OTHER> 814,234
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 533,239,947
<PAYABLE-FOR-SECURITIES> 3,131,343
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,164,033
<TOTAL-LIABILITIES> 4,295,376
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 343,604,751
<SHARES-COMMON-STOCK> 18,413,376
<SHARES-COMMON-PRIOR> 14,663,468
<ACCUMULATED-NII-CURRENT> 18,675
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,497,246
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 171,823,899
<NET-ASSETS> 528,944,571
<DIVIDEND-INCOME> 3,688,221
<INTEREST-INCOME> 453,510
<OTHER-INCOME> 0
<EXPENSES-NET> (3,152,761)
<NET-INVESTMENT-INCOME> 988,970
<REALIZED-GAINS-CURRENT> 18,200,792
<APPREC-INCREASE-CURRENT> 37,838,182
<NET-CHANGE-FROM-OPS> 57,027,944
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (970,295)
<DISTRIBUTIONS-OF-GAINS> (48,478,297)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,682,158
<NUMBER-OF-SHARES-REDEEMED> (1,665,731)
<SHARES-REINVESTED> 1,733,481
<NET-CHANGE-IN-ASSETS> 119,545,143
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 45,879,382
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,674,892)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,152,761)
<AVERAGE-NET-ASSETS> 446,846,681
<PER-SHARE-NAV-BEGIN> 26.930
<PER-SHARE-NII> .060
<PER-SHARE-GAIN-APPREC> 3.030
<PER-SHARE-DIVIDEND> (.060)
<PER-SHARE-DISTRIBUTIONS> (3.200)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 26.760
<EXPENSE-RATIO> 1.380
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN MANAGED TRUST MARCH 31,1998 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> FRANKLIN RISING DIVIDENDS FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 345,929,862
<INVESTMENTS-AT-VALUE> 517,753,761
<RECEIVABLES> 14,671,952
<ASSETS-OTHER> 814,234
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 533,239,947
<PAYABLE-FOR-SECURITIES> 3,131,343
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,164,033
<TOTAL-LIABILITIES> 4,295,376
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 343,604,751
<SHARES-COMMON-STOCK> 1,355,233
<SHARES-COMMON-PRIOR> 540,970
<ACCUMULATED-NII-CURRENT> 18,675
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,497,246
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 171,823,899
<NET-ASSETS> 528,944,571
<DIVIDEND-INCOME> 3,688,221
<INTEREST-INCOME> 453,510
<OTHER-INCOME> 0
<EXPENSES-NET> (3,152,761)
<NET-INVESTMENT-INCOME> 988,970
<REALIZED-GAINS-CURRENT> 18,200,792
<APPREC-INCREASE-CURRENT> 37,838,182
<NET-CHANGE-FROM-OPS> 57,027,944
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (2,104,631)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 829,132
<NUMBER-OF-SHARES-REDEEMED> (91,504)
<SHARES-REINVESTED> 76,635
<NET-CHANGE-IN-ASSETS> 119,545,143
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 45,879,382
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,674,892)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,152,761)
<AVERAGE-NET-ASSETS> 446,846,681
<PER-SHARE-NAV-BEGIN> 26.850
<PER-SHARE-NII> .000
<PER-SHARE-GAIN-APPREC> 3.020
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> (3.200)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 26.670
<EXPENSE-RATIO> 1.920
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN MANAGED TRUST MARCH 31, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 023
<NAME> FRANKLIN INVESTMENT GRADE INCOME FUND -ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 42,074,724
<INVESTMENTS-AT-VALUE> 42,341,824
<RECEIVABLES> 8,644,134
<ASSETS-OTHER> 146
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50,986,104
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 154,406
<TOTAL-LIABILITIES> 154,406
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 51,187,308
<SHARES-COMMON-STOCK> 5,242
<SHARES-COMMON-PRIOR> 4,331
<ACCUMULATED-NII-CURRENT> 181,606
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (804,316)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 267,100
<NET-ASSETS> 50,831,698
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,396,151
<OTHER-INCOME> 0
<EXPENSES-NET> (276,955)
<NET-INVESTMENT-INCOME> 1,119,196
<REALIZED-GAINS-CURRENT> 6,109
<APPREC-INCREASE-CURRENT> 151,169
<NET-CHANGE-FROM-OPS> 1,276,474
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,219)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 790
<NUMBER-OF-SHARES-REDEEMED> (51)
<SHARES-REINVESTED> 172
<NET-CHANGE-IN-ASSETS> 7,224,082
<ACCUMULATED-NII-PRIOR> 269,981
<ACCUMULATED-GAINS-PRIOR> (810,425)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 119,342
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 276,955
<AVERAGE-NET-ASSETS> 47,695,569
<PER-SHARE-NAV-BEGIN> 9.070
<PER-SHARE-NII> .230
<PER-SHARE-GAIN-APPREC> .040
<PER-SHARE-DIVIDEND> (.250)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.090
<EXPENSE-RATIO> .850
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN MANAGED TRUST MARCH 31, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 021
<NAME> FRANKLIN INVESTMENT GRADE INCOME FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 42,074,724
<INVESTMENTS-AT-VALUE> 42,341,824
<RECEIVABLES> 8,644,134
<ASSETS-OTHER> 146
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50,986,104
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 154,406
<TOTAL-LIABILITIES> 154,406
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 51,187,308
<SHARES-COMMON-STOCK> 5,587,697
<SHARES-COMMON-PRIOR> 4,799,828
<ACCUMULATED-NII-CURRENT> 181,606
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (804,316)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 267,100
<NET-ASSETS> 50,831,698
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,396,151
<OTHER-INCOME> 0
<EXPENSES-NET> (276,955)
<NET-INVESTMENT-INCOME> 1,119,196
<REALIZED-GAINS-CURRENT> 6,109
<APPREC-INCREASE-CURRENT> 151,169
<NET-CHANGE-FROM-OPS> 1,276,474
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,206,352)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,716,845
<NUMBER-OF-SHARES-REDEEMED> (1,041,192)
<SHARES-REINVESTED> 112,216
<NET-CHANGE-IN-ASSETS> 7,224,082
<ACCUMULATED-NII-PRIOR> 269,981
<ACCUMULATED-GAINS-PRIOR> (810,425)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 119,342
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 276,955
<AVERAGE-NET-ASSETS> 47,695,569
<PER-SHARE-NAV-BEGIN> 9.080
<PER-SHARE-NII> .210
<PER-SHARE-GAIN-APPREC> .040
<PER-SHARE-DIVIDEND> (.240)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.090
<EXPENSE-RATIO> 1.160
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
