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Managed Fund Since 2012
Equity
FRCSX Franklin Small Cap Value Fund
- Small-Cap Exposure. We aim to take advantage of the prospects particular to small-cap companies, which may not exist among larger companies.
- Broad Market Exposure. We invest in a variety of companies across multiple sectors and industries.
- Value Expertise. Investors can benefit from our veteran management team with extensive value investing experience.
Popular Documents
Total Net Assets
$3.80B
As of 11/30/2025 (Updated Monthly)
Limited Offering: Fund Closed to New Investors
This fund is closed to new investors with limited exceptions. Existing investors may continue to purchase shares of the fund.
Overview
Fund Facts
Fund description
The fund seeks long-term total return by investing at least 80% of its net assets in investments of small-capitalization companies, which are those with market capitalizations not exceeding either the highest market capitalization of the Russell 2000 Index or the 12-month average of the highest market capitalization in the Russell 2000 Index, whichever is greater at the time of purchase.
- Benchmark
- Russell 2000 Value Index
- Fund Inception Date
- 03/11/1996
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 60%
Identifiers
- Ticker
- FRCSX
- Fund Number
- 382
- CUSIP Code
- 355148669
Average Annual Total Returns As of 11/30/2025
Class R6
- -2.86%1 Year
- 8.51%3 Years
- 10.15%5 Years
- 9.34%10 Years
- 9.61%Since Inception
03/11/1996
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 11/30/2025 % of Total (Updated Monthly)
Capital Goods19.16% | |
Banks18.46% | |
Materials8.24% | |
Consumer Durables & Apparel6.67% | |
Insurance6.56% |
Additional Fund Info
- Share Class Inception Date
- 05/01/2013
- Investment Style
- Value
- Lipper Classification
- Small-Cap Value Funds
- Morningstar Category
3 - Small Value
Manager and Commentary
About the Team
Uncompromising value investors
Franklin Mutual Series has been investing with our clients’ interests in mind since 1949. We are more than formulaic value investors. As one team with one focus, we transcend traditional value investing, applying deep fundamental research to find undervalued companies and the catalyst that will unlock that value and deliver results.
Commentary Highlights
September 30, 2025- US small cap stocks have been under pressure due to policy uncertainty, higher interest rates and economic apprehension.
- The Franklin Small Cap Value Fund outperformed its benchmark, the Russell 2000 Value Index, over the first six months of 2025. The industrials and health care sectors contributed to relative results, whereas the communication services and financials sectors detracted.
- The latter half of 2025, we anticipate an environment that is more conducive to small cap stock performance, as less policy and tax uncertainty bolster investor sentiment and a lower rate environment relieves pressure on smaller companies
Franklin Mutual Series
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Managed Fund Since 2015
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Managed Fund Since 2019
Latest Insights
November 20, 2025
October 16, 2025
Performance
Calendar Year Returns
As of 11/30/2025
Class R6 - With Sales Charge (POP) (%)
Class R6 - Without Sales Charge (NAV) (%)
Russell 2000 Value Index (%)
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 3
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Portfolio
Assets
As of11/30/2025 (Updated Monthly)
- Total Net Assets
- $3.80 Billion
Positions
As of 11/30/2025 (Updated Monthly)
Number of Issuers
- Fund
- 83
- Benchmark
- 1,417
Portfolio Statistics
As of 11/30/2025 (Updated Monthly)
Price to Earnings (12-Month Trailing)
- Fund
- 17.46x
- Benchmark
- 14.99x
- Fund
- 1.70x
- Benchmark
- 1.39x
- Fund
- $5.87 Billion
- Benchmark
- $3.37 Billion
- Fund
- 9.06x
- Benchmark
- 7.29x
Market Capitalization Allocation
As of 11/30/2025 % of Equity (Updated Monthly)
| Market Capitalization | Fund |
|---|---|
| <1.0 Billion | 5.37% |
| 1.0-2.0 Billion | 17.22% |
| 2.0-5.0 Billion | 32.73% |
| 5.0-10.0 Billion | 35.25% |
| >10.0 Billion | 9.43% |
Holdings
As of 10/31/2025 (Updated Monthly)
MKS Inc COM USD NPV
Valmont Industries Inc COM USD1
ACI Worldwide Inc COM USD.005
CNO Financial Group Inc COM USD1
Horace Mann Educators Corp COM USD.001
Columbia Banking System Inc COM USD1
Gap Inc/The COM USD.05
Vontier Corp COM USD.0001
QinetiQ Group PLC ORD GBP.01
Commercial Metals Co COM USD.01
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
- Distribution Frequency
- AnnuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
12/19/2025
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Small Cap Value Fund | |||
| Product Commentary - Franklin Small Cap Value Fund | |||
| Flyer - Franklin Mutual Series Value-driven strategies, uncompromising results |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin Small Cap Value Fund - Class R6 | |||
| Annual Financial Statements and Other Information - Franklin Value Investors Trust | |||
| Semi-Annual Report - Franklin Small Cap Value Fund Class R6 | |||
| Semiannual Financial Statements and Other Information - Franklin Value Investors Trust | |||
| Prospectus - Franklin Value Investors Trust | |||
| Summary Prospectus - Franklin Small Cap Value Fund | |||
| Statement of Additional Information - Franklin Value Investors Trust | |||
| Fiscal Q1 Holdings - Franklin Value Investors Trust | |||
| Fiscal Q3 Holdings - Franklin Value Investors Trust |
Risks
All investments involve risks, including possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. The investment style may become out of favor, which may have a negative impact on performance. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Real estate investment trusts (REITs) are closely linked to the performance of the real estate markets. REITs are subject to illiquidity, credit and interest rate risks, and risks associated with small- and mid-cap investments. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.
Important Information
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
The Russell 2000 Value Index measures the performance of the small-cap value segment of the U.S. equity universe.
Source: FTSE.
The Russell 2000 Value Index measures the performance of the small-cap value segment of the U.S. equity universe.
Source: FTSE.
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.