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Templeton Fund Manager Likes Utilities, Financials, Health Tech

Wednesday, 30 May 2007 | 6:18 PM ET

Franklin Templeton's Edward Perks has three favorite sectors: utilities, financial services and health technology. Co-portfolio manager of the $59 billion Franklin Income Fund, Perks joined "Closing Bell" to offer viewers his thoughts on utilities as a whole -- and to name individual stocks within the sector.

5-Star Funds: Franklin Income
A look at conservative value plays with five-star fund manager Edward Perks, of the Franklin Income Fund, and CNBC's Maria Bartiromo

Perks' fund, rated five stars by Morningstar, has enjoyed a five-year average return of more than 12% under his stewardship. He told CNBC's Maria Bartiromo that its top sector holding, utilities, often gives nice dividends -- but he cautioned investors to examine the new, heterogenous nature of the utliity sector, which has evolved greatly in recent years.

Perks praised one holding, Public Service Enterprise Group (PSEG), for its "attractive dividend yield and growth," and added that it "taps into a number of themes" driving the sector: improving fundamentals and margins, and increasing demand for power. He also predicted more mergers and acquisitions in the sector, pointing to KKR's buyout offer for TXU.

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  • With almost 30 years experience in business television, Bill Griffeth is co-anchor of the 3 p.m. ET hour of CNBC's "Closing Bell."

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    Kelly Evans is an on-air correspondent, reporting across CNBC's business day programming. She is co-anchor of CNBC's "Squawk on the Street."