What do you think of the FFALX fund?

Is Franklin Templeton Founding All A fund a good long term(5 years) investment?

It could be. I certainly can not argue with the record of the fund. It is good as are the 3 funds that it invests in. If you are happy with your choice, then why not? I do not particularly like funds that invest in other funds. Seems like there is too much compromise involved. In this particular case, there is also a question expenses. You are paying a 5.75% load to invest in a fund that in turn is going to invest 1/3 of the assets in another fund that if you were to do that yourself would levy a front end load of only 4.25%--Franklin Income Fund. Seems like it is putting it to you. Oh well, that is the fund business.

Before you make up your mind, check out T Rowe Price Capitial Appreciation Fund. Here is the link.

http://www.troweprice.com/common/indexFu...

It has many similarities to the Franklin Fund although the allocation is somewhat different. The track record is very good. And there is no front end load and the expense ratio is much less, about 1/2.

Another to consider is American Funds Investment Company of America. It also has many similarities including the front end load but has a really low expense ratio of 0.54%. Here is the link.

http://www.americanfunds.com/funds/detai...

Looks pretty good to me. Its only been around about 4 years but it has outperformed its peers by a wide margin over that time, and has the same manager as it started with, so it looks like a good fund to me.