Fund Description

The fund seeks capital appreciation, with income as a secondary goal, by investing at least 80% of its net assets in the securities of European companies. It focuses mainly on undervalued equity securities and, to a lesser extent, distressed securities and merger arbitrage opportunities.

Strategy Statement

"Using our deep value approach, we have been able to find undervalued European companies trading at compelling valuations, particularly with the ongoing economic integration of the EU."

Management

Katrina Dudley, CFA

Katrina Dudley, CFA®

  • Joined Franklin Templeton in 2002
  • Managed Fund Since 2007
Mandana Hormozi

Mandana Hormozi

  • Joined Franklin Templeton in 2003
  • Managed Fund Since 2018

INVESTMENT PHILOSOPHY, STRATEGY AND APPROACH

Bottom-Up Value Approach
  • We seek to buy companies at a significant discount to their intrinsic value.
  • We seek to understand and limit downside risk.
  • We think and act like owners of the business.
  • Undervalued stocks comprise the bulk of our portfolios.
  • We search for catalysts to unlock value:
    • Corporate restructuring
    • Spin-offs
    • Share buybacks
    • Our own initiatives

Rating

Overall Morningstar Rating As of 12/31/2018

Rating Category: Europe Stock

Morningstar
The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating As of 12/31/2018

Years Ratings Funds
in category
3
2 Stars
102
5
3 Stars
70
10
4 Stars
52

Morningstar Style Box As of11/30/2018

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