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Managed Fund Since 2018
Equity
Franklin Mutual Global Discovery VIP Fund
Popular Documents
Total Net Assets
$439.32M
As of 11/30/2025 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks capital appreciation. Its strategy is focused on undervalued mid- and large-cap equity securities, with a significant portion of its assets in foreign securities and, to a lesser extent, distressed securities and merger arbitrage.
- Benchmark
- MSCI World Value Index-NR
- Fund Inception Date
- 11/08/1996
- Share Class Inception Date
- 11/08/1996
Identifiers
- Ticker
- —
- Fund Number
- 753
- CUSIP Code
- 355150699
- Bloomberg Code
- —
Top Sectors
As of 11/30/2025 % of Total (Updated Monthly)
Capital Goods9.90% | |
Banks9.02% | |
Media & Entertainment8.85% | |
Health Care Equipment & Services8.43% | |
Pharmaceuticals, Biotechnology & Life Sciences8.35% |
Additional Fund Info
- Asset Class
- Equity
- Morningstar Category
4 - Global Large-Stock Value
- Lipper Classification
- Global Large-Cap Value
- Investment Style
- 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.
Franklin Mutual Series
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Managed Fund Since 2010
Latest Insights
November 20, 2025
October 16, 2025
Portfolio
Assets
As of11/30/2025 (Updated Monthly)
- Total Net Assets
- $439.32 Million
Positions
As of 11/30/2025 (Updated Monthly)
Number of Issuers
- Fund
- 65
- Benchmark
- 882
Portfolio Statistics
As of 11/30/2025 (Updated Monthly)
Price to Earnings (12-Month Trailing)
- Fund
- 17.12x
- Benchmark
- 18.80x
- Fund
- 9.07x
- Benchmark
- 11.23x
- Fund
- 1.94x
- Benchmark
- 2.55x
Asset Allocation 5
As of 11/30/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Undervalued Equities | 92.68% |
Special Situations | 5.09% |
Cash & Other Net Assets | 2.22% |
Holdings
As of 10/31/2025 (Updated Monthly)
Alphabet Inc COM USD.001 CL A
Samsung Electronics Co Ltd ORD KRW 100
Airbus SE ORD EUR1
BNP Paribas SA ORD EUR2
Prudential PLC ORD GBP.05
AerCap Holdings NV ORD EUR.01 (NYE)
Novartis AG SPONSORED ADR
Roche Holding AG ORD CHF NPV
Shell PLC ORD GBP0.07
BP PLC ORD GBP.25
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
- October, 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
09/30/2025
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.
Documents
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Financial Statements and Other Information - Franklin Mutual Global Discovery VIP Fund | |||
| Annual Report - Franklin Mutual Global Discovery VIP Fund - Class 1 | |||
| Semi-Annual Report - Franklin Mutual Global Discovery VIP Fund - Class 1 | |||
| Semi-Annual Financial Statements and Other Information - Franklin Mutual Global Discovery VIP Fund | |||
| Prospectus - Franklin Templeton Variable Insurance Products | |||
| Summary Prospectus - Franklin Mutual Global Discovery VIP Fund | |||
| Statement of Additional Information - Franklin Templeton Variable Insurance Products | |||
| Fiscal Q1 Holdings - Franklin Templeton Variable Insurance Products | |||
| Fiscal Q3 Holdings - Franklin Templeton Variable Insurance Products |
Risks
All investments involve risks, including possible loss of principal. 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. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. 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 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
Franklin Mutual Global Discovery VIP Fund is a series of Franklin Templeton Variable Insurance Products Trust, shares of which are generally sold only to insurance company separate accounts to serve as investment options for variable insurance products.
Past performance is no guarantee of future results. These portfolios are available as investment options under a variable annuity or variable life contract. Shares of the portfolios are offered only to insurance company separate accounts that fund certain variable annuity or life contracts. These portfolios may not be available in all states and may only be offered in certain variable products. Please refer to the prospectuses. Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals made prior to age 59 1/2 are subject to a 10% IRS penalty charge and/or surrender charges. Investments in a variable annuity are subject to market risks, including loss of principal. Guarantees are based on the claims-paying ability of the insurer.
VARIABLE ANNUITIES ARE SOLD BY PROSPECTUS ONLY. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO CAREFULLY BEFORE INVESTING. THE PROSPECTUSES CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO. FOR A FREE PROSPECTUS ON THE UNDERLYING PORTFOLIO, PLEASE CLICK ON THE PROSPECTUS LINK. AN INVESTOR SHOULD READ THE PROSPECTUSES CAREFULLY BEFORE INVESTING.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
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 MSCI World Value Index is a market capitalization-weighted index designed to measure the performance of stocks exhibiting overall value style characteristics in developed markets.
Net Returns (NR) include income net of tax withholding when dividends are paid.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.
Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. The fund may charge a 2% fee on redemptions within seven days.
Franklin Distributors, LLC. Member FINRA/SIPC. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the fund are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call Franklin Templeton at (800) 530-2432 for more information.