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Philippe Brugere-Trelat: Why Our Investment Analysts Are Like Fishermen

Jun 12, 2015

Featuring:  Philippe Brugere-Trelat, EVP, Portfolio Manager, Franklin Mutual Global Discovery Fund, Franklin Mutual Series

  • We have no preconceived idea about which countries or sectors we invest in; we don’t have a recipe book or cookie-cutter approach to stock selection.
  • It is up to our investment analysts, who are organized globally on a sector basis, to come up with investment ideas that meet our criteria.
  • It’s only when we perceive that there is a misunderstanding by the markets as of the reasons why a stock is cheap that we start to work, analyze, and scrub down the balance sheet and the financials.
  • What we like to see in a stock is a strong balance sheet, good market position, and shareholder-friendly management. We don’t like debt, and we like a strong asset base.
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Important Legal Information

The information provided is not a complete analysis of every material fact regarding any country, market, industry, security or fund. Because market and economic conditions are subject to change, comments, opinions and analyses are rendered as of June 12, 2015, and may change without notice. A portfolio manager’s assessment of a particular security, investment or strategy is not intended as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy; it is intended only to provide insight into the fund’s portfolio selection process. Holdings are subject to change.

Diversification does not guarantee a profit or protect against a loss.

Past performance does not guarantee future results.

What Are the Risks?
Franklin Mutual Global Discovery Fund
All investments involve risks, including possible loss of principal. Value securities may not increase in price as anticipated or may decline further in value. The fund’s investments in foreign securities involve certain risks including currency fluctuations, and economic and political uncertainties. Smaller-company stocks have exhibited greater price volatility than larger-company stocks, particularly over the short term. The fund’s investments in companies engaged in mergers, reorganizations or liquidations also involve special risks as pending deals may not be completed on time or on favorable terms. The fund may invest in lower-rated bonds, which entail higher credit risk. Please consult the prospectus for a more detailed description of the fund’s risks.

For more information on any of our funds, contact your financial advisor or download a free prospectus. Investors should carefully consider a fund’s investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

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