Gross Expense Ratio
Net Expense Ratio
Max Initial Sales Charge
The fund seeks capital appreciation with income as a secondary goal. Its strategy is focused on undervalued mid- and large-cap equity securities which may include foreign equities and, to a lesser extent, distressed securities and merger arbitrage.
We do not publish a style box for this fund.
At Franklin Mutual Series, we focus on recognizing value that other investors might miss.
Our goal is to deliver solid, risk-adjusted returns, year in and year out. Over the last 60 years, Franklin Mutual Series’ consistent, deep value approach has benefited shareholders with long-term investment horizons.
- Opportunistic Value Investors. Our core investments are in undervalued stocks with viable catalysts that we believe will change the way the market views their true worth.
- Think and Act Like Company Owners. We won’t hesitate to become activist investors if our shareholders’ interests need to be protected.
- Strive To Reduce Risk. Our unique strategy has historically provided the fund with lower volatility than the overall market and has enabled us to deliver strong results over the long term.
- Diversification. Focused predominantly on large- and mid-cap equities, the fund's investment mix contains a variety of industries.
- A Record of Low Volatility.
- Activist Investors. We will work to influence company management to help unlock that company's full potential for the benefit of our shareholders.
What Are the Risks?
- All investments involve risks, including possible loss of principal.
- Value securities may not increase in price as anticipated, or may decline further in value.
- Stocks historically have outperformed other asset classes over the long term, but tend to fluctuate more dramatically over the short term.
- Investments in foreign securities involve special risks including currency fluctuations, and economic and political uncertainties.
- Investments in companies engaged in mergers, reorganizations or liquidations involve special risks as pending deals may not be completed on time or on favorable terms, as well as lower-rated bonds, which entail higher credit risk.
- These and other risks are described more fully in the fund’s prospectus.
Speak to your financial advisor about whether this fund is appropriate for you. If you don't have a financial advisor, request a referral.
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Important Legal Information
- CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
- 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 smaller-company stocks and foreign securities involve special risks. Smaller-company stocks have exhibited greater price volatility than larger-company stocks, particularly over the short term. Foreign securities risks include currency fluctuations, and economic and political uncertainties. The fund may also invest in companies engaged in mergers, reorganizations or liquidations, which involve special risks as pending deals may not be completed on time or on favorable terms, as well as lower-rated bonds, which entail higher credit risk. Please consult the prospectus for a more detailed description of the fund's risks.
- Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total Returns With Sales Charge: returns reflect the deduction of the stated sales charge. Total returns, distribution rate, and yields reflect any applicable expense reductions, without which the results for those impacted funds would have been lower.
- Effective June 30, 2014, Mutual Beacon Fund was renamed Franklin Mutual Beacon Fund.
- Most Franklin Templeton funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance. In general, Class A shares have a maximum initial sales charge; Class C shares have a 1% contingent deferred sales charge; Class Z, Advisor Class and Class R6 shares have no sales charges nor Rule 12b-1 fees; Class R shares have no sales charges, but do have a Rule 12b-1 fee.
- Performance data 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.
- 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.
- Prior to November 1, 1996, the fund offered only a single class of shares without a sales charge and Rule 12b-1 expenses, Class Z shares. Figures reflect a restatement of the original share class to include both the Rule 12b-1 fees and maximum initial sales charges (when quoting figures with sales charges) applicable to each share class as though in effect from the fund's inception. For periods after November 1, 1996, actual performance is used, reflecting all charges and fees applicable to that class.
- For performance reporting purposes, the inception date for Classes A, R, R6, Z, and Advisor Class shares of all Franklin Templeton Funds is the date of effectiveness of the fund's registration statement or the first day the fund commenced operations. For Class C shares, generally the inception date is the first day the fund commenced offering such shares. Exceptions: Templeton Global Balanced Fund Classes A and C use the inception date of the old Class A and C shares, renamed Class A1 and Class C1. For Mutual Series Funds, Franklin International Small Cap Growth Fund, Franklin Large Cap Equity Fund and Franklin Pelagos Commodities Strategy Fund, the inception date for Classes A, C, R and R6 shares is the funds' oldest class', Z or Advisor, inception date. Franklin U.S. Government Money Fund Class R6 inception date is the first day it commenced offering such shares.
- Net Asset Value — The amount per share you would receive if you sold shares that day.
- The annualized percentage difference between a fund's actual returns and its expected performance given its level of market risk, as measured by beta. Based on the 3-year period ended as of the date of the calculation.
- A measure of the fund's volatility relative to the market, as represented by the S&P 500 Index. A beta greater than 1.00 indicates volatility greater than the market. Based on the 3-year period ended as of the date of the calculation.
- A statistical measurement of the range of a fund's total returns. In general, a higher standard deviation means greater volatility. Based on the fund's monthly returns over the 3-year period ended as of the date of the calculation.
- The Gross Expense Ratio does not include a fee reduction related to the Fund's investment in a Franklin Templeton money fund, as applicable. The fee reduction is contractually guaranteed for at least the next 12-month period. Please see the prospectus for additional information.
- Percentage of the fund's returns explained by movements in the S&P 500 Index. 100 equals perfect correlation to the index. Based on the 3-year period ended as of the date of the calculation.
- ©2015 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.
- Source: Morningstar®, 9/30/15. For each fund with at least a 3-year history, Morningstar calculates a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of all sales charges), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive a Morningstar Rating™ of 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund and rated separately.) Past performance does not guarantee future results. Morningstar Rating™ is for the named share class only; other classes may have different performance characteristics.
- Public Offering Price — Purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.
- A statistical measurement of a fund's historical risk-adjusted performance. It is calculated by taking a fund's excess return over that of the three-month Treasury bill divided by its standard deviation. Higher values generally indicate better historical risk-adjusted performance. Based on the 3 years ended as of the date of the calculation.
- Indices are unmanaged and one cannot invest directly in them.