FRANKLIN MANAGED TRUST
NSAR-B, 1999-11-29
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<PAGE>      PAGE  1
000 B000000 09/30/1999
000 C000000 0000805650
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 FRANKLIN MANAGED TRUST
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001 C000000 6503122000
002 A000000 777 MARINERS ISLAND BLVD.
002 B000000 SAN MATEO
002 C000000 CA
002 D010000 94404
002 D020000 1585
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007 C020100 RISING DIVIDENDS FUND
007 C030100 N
007 C010200  2
007 C020200 INVESTMENT GRADE INCOME FUND
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007 C010300  3
007 C010400  4
007 C010500  5
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<PAGE>      PAGE  2
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012 A00AA01 FRANKLIN/TEMPLETON INVESTOR SERVICES, INC.
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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  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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028 A020300         0
028 A030300         0
028 A040300         0
028 B010300         0
028 B020300         0
028 B030300         0
028 B040300         0
028 C010300         0
028 C020300         0
028 C030300         0
028 C040300         0
028 D010300         0
028 D020300         0
028 D030300         0
028 D040300         0
028 E010300         0
028 E020300         0
028 E030300         0
028 E040300         0
028 F010300         0
028 F020300         0
028 F030300         0
028 F040300         0
028 G010300         0
028 G020300         0
028 G030300         0
028 G040300         0
028 H000300         0
030 A000300      0
030 B000300  0.00
030 C000300  0.00
031 A000300      0
031 B000300      0
<PAGE>      PAGE  19
032  000300      0
033  000300      0
035  000300      0
036 B000300      0
042 A000300   0
042 B000300   0
042 C000300   0
042 D000300   0
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300      0
044  000300      0
045  000300 Y
048  000300  0.000
048 A010300        0
048 A020300 0.000
048 B010300        0
048 B020300 0.000
048 C010300        0
048 C020300 0.000
048 D010300        0
048 D020300 0.000
048 E010300        0
048 E020300 0.000
048 F010300        0
048 F020300 0.000
048 G010300        0
048 G020300 0.000
048 H010300        0
048 H020300 0.000
048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
048 K010300        0
048 K020300 0.000
061  000300        0
062 A000300 N
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   0.0
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
062 J000300   0.0
062 K000300   0.0
062 L000300   0.0
<PAGE>      PAGE  20
062 M000300   0.0
062 N000300   0.0
062 O000300   0.0
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
063 A000300   0
063 B000300  0.0
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 N
066 F000300 Y
066 G000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
071 A000300         0
071 B000300         0
071 C000300         0
071 D000300    0
072 A000300  0
072 B000300        0
072 C000300        0
072 D000300        0
072 E000300        0
072 F000300        0
072 G000300        0
072 H000300        0
072 I000300        0
072 J000300        0
072 K000300        0
072 L000300        0
072 M000300        0
072 N000300        0
072 O000300        0
072 P000300        0
072 Q000300        0
072 R000300        0
072 S000300        0
072 T000300        0
072 U000300        0
072 V000300        0
072 W000300        0
072 X000300        0
072 Y000300        0
072 Z000300        0
072AA000300        0
072BB000300        0
072CC010300        0
<PAGE>      PAGE  21
072CC020300        0
072DD010300        0
072DD020300        0
072EE000300        0
073 A010300   0.0000
073 A020300   0.0000
073 B000300   0.0000
073 C000300   0.0000
074 A000300        0
074 B000300        0
074 C000300        0
074 D000300        0
074 E000300        0
074 F000300        0
074 G000300        0
074 H000300        0
074 I000300        0
074 J000300        0
074 K000300        0
074 L000300        0
074 M000300        0
074 N000300        0
074 O000300        0
074 P000300        0
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300        0
074 S000300        0
074 T000300        0
074 U010300        0
074 U020300        0
074 V010300     0.00
074 V020300     0.00
074 W000300   0.0000
074 X000300        0
074 Y000300        0
075 A000300        0
075 B000300        0
076  000300     0.00
030 A001600      0
030 B001600  0.00
030 C001600  0.00
030 A001700      0
030 B001700  0.00
030 C001700  0.00
030 A001900      0
030 B001900  0.00
030 C001900  0.00
031 A001900      0
<PAGE>      PAGE  22
031 B001900      0
032  001900      0
033  001900      0
SIGNATURE   LAURA FERGERSON
TITLE       ASSISTANT TREASURER



<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE FRANKLIN MANAGED TRUST
SEPTEMBER 30, 1999 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 011
   <NAME> FRANKLIN RISING DIVIDENDS FUND - CLASS A

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          SEP-30-1999
<PERIOD-END>                               SEP-30-1999
<INVESTMENTS-AT-COST>                      357,473,015
<INVESTMENTS-AT-VALUE>                     400,547,166
<RECEIVABLES>                                6,676,595
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             407,223,761
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,285,286
<TOTAL-LIABILITIES>                          1,285,286
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   333,161,551
<SHARES-COMMON-STOCK>                       17,098,904
<SHARES-COMMON-PRIOR>                       18,917,914
<ACCUMULATED-NII-CURRENT>                      356,764
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     29,346,009
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    43,074,151
<NET-ASSETS>                               405,938,475
<DIVIDEND-INCOME>                            9,457,688
<INTEREST-INCOME>                              481,703
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (7,077,002)
<NET-INVESTMENT-INCOME>                      2,862,389
<REALIZED-GAINS-CURRENT>                    29,517,292
<APPREC-INCREASE-CURRENT>                    8,111,808
<NET-CHANGE-FROM-OPS>                       40,491,489
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (3,135,285)
<DISTRIBUTIONS-OF-GAINS>                  (36,887,240)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      4,288,915
<NUMBER-OF-SHARES-REDEEMED>                (7,615,475)
<SHARES-REINVESTED>                          1,507,550
<NET-CHANGE-IN-ASSETS>                    (45,187,274)
<ACCUMULATED-NII-PRIOR>                        736,183
<ACCUMULATED-GAINS-PRIOR>                   40,943,155
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                      (3,560,910)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                            (7,077,002)
<AVERAGE-NET-ASSETS>                       475,184,744
<PER-SHARE-NAV-BEGIN>                           21.530
<PER-SHARE-NII>                                   .150<F1>
<PER-SHARE-GAIN-APPREC>                          1.760<F1>
<PER-SHARE-DIVIDEND>                            (.170)<F1>
<PER-SHARE-DISTRIBUTIONS>                      (1.990)<F1>
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                             21.280
<EXPENSE-RATIO>                                  1.430
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
</FN>



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE FRANKLIN  MANAGED TRUST
SEPTEMBER 30, 1999 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 012
   <NAME> FRANKLIN RISING DIVIDENDS FUND - CLASS B

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          SEP-30-1999
<PERIOD-END>                               SEP-30-1999<F2>
<INVESTMENTS-AT-COST>                      357,473,015
<INVESTMENTS-AT-VALUE>                     400,547,166
<RECEIVABLES>                                6,676,595
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             407,223,761
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,285,286
<TOTAL-LIABILITIES>                          1,285,286
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   333,161,551
<SHARES-COMMON-STOCK>                           69,544
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                      356,764
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     29,346,009
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    43,074,151
<NET-ASSETS>                               405,938,475
<DIVIDEND-INCOME>                            9,457,688
<INTEREST-INCOME>                              481,703
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (7,077,002)
<NET-INVESTMENT-INCOME>                      2,862,389
<REALIZED-GAINS-CURRENT>                    29,517,292
<APPREC-INCREASE-CURRENT>                    8,111,808
<NET-CHANGE-FROM-OPS>                       40,491,489
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (3,328)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         70,665
<NUMBER-OF-SHARES-REDEEMED>                    (1,252)
<SHARES-REINVESTED>                                131
<NET-CHANGE-IN-ASSETS>                    (45,187,274)
<ACCUMULATED-NII-PRIOR>                        736,183
<ACCUMULATED-GAINS-PRIOR>                   40,943,155
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                      (3,560,910)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                            (7,077,002)
<AVERAGE-NET-ASSETS>                       475,184,744
<PER-SHARE-NAV-BEGIN>                           23.540
<PER-SHARE-NII>                                   .040<F1>
<PER-SHARE-GAIN-APPREC>                        (2.240)<F1>
<PER-SHARE-DIVIDEND>                            (.110)<F1>
<PER-SHARE-DISTRIBUTIONS>                         .000
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                             21.230
<EXPENSE-RATIO>                                  1.980<F3>
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
<F2>FOR THE PERIOD 1/1/1999, EFFECTIVE DATE, TO 9/30/1999.
<F3>ANNUALIZED
</FN>




</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE FRANKLIN MANAGED TRUST
SEPTEMBER 30, 1999 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY  BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 013
   <NAME> FRANKLIN RISING DIVIDENDS FUND - CLASS C

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          SEP-30-1999
<PERIOD-END>                               SEP-30-1999
<INVESTMENTS-AT-COST>                      357,473,015
<INVESTMENTS-AT-VALUE>                     400,547,166
<RECEIVABLES>                                6,676,595
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             407,223,761
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,285,286
<TOTAL-LIABILITIES>                          1,285,286
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   333,161,551
<SHARES-COMMON-STOCK>                        1,913,677
<SHARES-COMMON-PRIOR>                        2,041,512
<ACCUMULATED-NII-CURRENT>                      356,764
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     29,346,009
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    43,074,151
<NET-ASSETS>                               405,938,475
<DIVIDEND-INCOME>                            9,457,688
<INTEREST-INCOME>                              481,703
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (7,077,002)
<NET-INVESTMENT-INCOME>                      2,862,389
<REALIZED-GAINS-CURRENT>                    29,517,292
<APPREC-INCREASE-CURRENT>                    8,111,808
<NET-CHANGE-FROM-OPS>                       40,491,489
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (101,566)
<DISTRIBUTIONS-OF-GAINS>                   (4,228,827)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        869,142
<NUMBER-OF-SHARES-REDEEMED>                (1,169,620)
<SHARES-REINVESTED>                            172,643
<NET-CHANGE-IN-ASSETS>                    (45,187,274)
<ACCUMULATED-NII-PRIOR>                        736,183
<ACCUMULATED-GAINS-PRIOR>                   40,943,155
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                      (3,560,910)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                            (7,077,002)
<AVERAGE-NET-ASSETS>                       475,184,744
<PER-SHARE-NAV-BEGIN>                           21.450
<PER-SHARE-NII>                                   .030<F1>
<PER-SHARE-GAIN-APPREC>                          1.750<F1>
<PER-SHARE-DIVIDEND>                            (.050)<F1>
<PER-SHARE-DISTRIBUTIONS>                      (1.990)<F1>
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                             21.190
<EXPENSE-RATIO>                                  1.980
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
</FN>



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE FRANKLIN MANAGED TRUST
SEPTEMBER 30, 1999 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 A

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          SEP-30-1999
<PERIOD-END>                               SEP-30-1999
<INVESTMENTS-AT-COST>                       43,401,204
<INVESTMENTS-AT-VALUE>                      42,830,691
<RECEIVABLES>                                2,624,695
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              45,455,386
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    7,825,013
<TOTAL-LIABILITIES>                          7,825,013
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    38,956,036
<SHARES-COMMON-STOCK>                        4,212,870
<SHARES-COMMON-PRIOR>                        5,959,513
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (11,990)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                     (743,160)
<ACCUM-APPREC-OR-DEPREC>                     (570,513)
<NET-ASSETS>                                37,630,373
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            2,664,948
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (503,519)
<NET-INVESTMENT-INCOME>                      2,161,429
<REALIZED-GAINS-CURRENT>                       (2,968)
<APPREC-INCREASE-CURRENT>                  (1,526,813)
<NET-CHANGE-FROM-OPS>                          631,648
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (2,439,779)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,765,929
<NUMBER-OF-SHARES-REDEEMED>                (3,740,611)
<SHARES-REINVESTED>                            228,039
<NET-CHANGE-IN-ASSETS>                    (19,833,231)
<ACCUMULATED-NII-PRIOR>                        305,768
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                   (740,192)
<GROSS-ADVISORY-FEES>                        (233,311)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              (503,519)
<AVERAGE-NET-ASSETS>                        53,804,682
<PER-SHARE-NAV-BEGIN>                            9.220
<PER-SHARE-NII>                                   .370<F1>
<PER-SHARE-GAIN-APPREC>                         (.260)<F1>
<PER-SHARE-DIVIDEND>                            (.420)<F1>
<PER-SHARE-DISTRIBUTIONS>                         .000
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                              8.910<F2>
<EXPENSE-RATIO>                                  0.940
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
<F2>FRANKLIN INVESTMENT GRADE INCOME FUND MERGED INTO
FRANKLIN STRATEGIC INCOME FUND ON 8/12/99.
</FN>



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE FRANKLIN MANAGED TRUST
SEPTEMBER 30, 1999 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>                   YEAR
<FISCAL-YEAR-END>                          SEP-30-1999
<PERIOD-END>                               SEP-30-1999
<INVESTMENTS-AT-COST>                       43,401,204
<INVESTMENTS-AT-VALUE>                      42,830,691
<RECEIVABLES>                                2,624,695
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              45,455,386
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    7,825,013
<TOTAL-LIABILITIES>                          7,825,013
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    38,956,036
<SHARES-COMMON-STOCK>                            9,707
<SHARES-COMMON-PRIOR>                          271,551
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (11,990)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                     (743,160)
<ACCUM-APPREC-OR-DEPREC>                     (570,513)
<NET-ASSETS>                                37,630,373
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            2,664,948
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (503,519)
<NET-INVESTMENT-INCOME>                      2,161,429
<REALIZED-GAINS-CURRENT>                       (2,968)
<APPREC-INCREASE-CURRENT>                  (1,526,813)
<NET-CHANGE-FROM-OPS>                          631,648
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (39,405)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        143,487
<NUMBER-OF-SHARES-REDEEMED>                  (409,654)
<SHARES-REINVESTED>                              4,323
<NET-CHANGE-IN-ASSETS>                    (19,833,231)
<ACCUMULATED-NII-PRIOR>                        305,768
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                   (740,192)
<GROSS-ADVISORY-FEES>                        (233,311)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              (503,519)
<AVERAGE-NET-ASSETS>                        53,804,682
<PER-SHARE-NAV-BEGIN>                            9.230
<PER-SHARE-NII>                                   .370<F1>
<PER-SHARE-GAIN-APPREC>                         (.250)<F1>
<PER-SHARE-DIVIDEND>                            (.440)<F1>
<PER-SHARE-DISTRIBUTIONS>                         .000
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                              8.910<F2>
<EXPENSE-RATIO>                                  0.720
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
<F2>FRANKLIN INVESTMENT GRADE INCOME FUND MERGED INTO
FRANKLIN STRATEGIC INCOME FUND ON 8/12/99.
</FN>



</TABLE>








REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE



Board of Trustees
Franklin Managed Trust
San Mateo, California


In planning and performing our audit of the financial statements of
the Franklin Rising Dividends Fund, a series of shares of Franklin
Managed Trust (the "Trust"), for the year ended September 30, 1999
we considered its internal control structure, including procedures
for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on the internal control
structures.

The management of the Trust is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of internal
control structure policies and procedures. Two of the objectives
of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded
against loss from unauthorized use or disposition, and that
transactions are executed in accordance with management's
authorization and recorded properly to permit preparation of
financial statements in conformity with generally accepted
accounting principles.

Because of inherent limitations in any internal control
structure, errors or irregularities may occur and not be
detected.   Also, projection of any evaluation of the
structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or
that the effectiveness of the design and operation may
deteriorate.

Our consideration of the internal control structure would
not necessarily disclose all matters in the internal control
structure that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants.   A material weakness is a condition in which
the design or operation of the specific internal control
structure elements does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would
be material in relation to the financial statements being
audited may occur and not be detected within a timely period
by employees in the normal course of performing their assigned
functions.   However, we noted no matters involving the
internal control structure, including procedures for
safeguarding securities, that we consider to be material
weaknesses, as defined above, as of September 30, 1999

This report is intended solely for the information and
use of management and the Securities and Exchange Commission,
and should not be used for any other purpose.




Philadelphia, Pennsylvania
November 5, 1999



NAME OF REGISTRANT:
Franklin Managed Trust
File No. 811-4894


EXHIBIT ITEM No. 77C:  Submission of matters to a vote
of security holders.

At a Special Meeting of Shareholders of Franklin
Investment Grade Income Fund (a series of the registrant),
held on July 26, 1999, the following item was voted upon:

(1) To approve an Agreement and Plan of Reorganization
between the Registrant, on behalf of its series, Franklin
Investment Grade Income Fund (the "Investment Grade Fund")
and Franklin Strategic Series, on behalf of its series,
Franklin Strategic Income Fund (the "Strategic Income Fund"),
that provides for the acquisition of substantially all of the
assets of the Investment Grade Fund in exchange for Class A
and Advisor Class shares of Strategic Income, the distribution
of such shares to the shareholders of shares of the Investment
Grade Fund, and the dissolution of the Investment Grade Fund.

VOTE FOR     VOTE AGAINST
2,875,718    336,878













wpdoc2\nsar\1999\159-77c.doc                   10/21/99




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