PRICE AND YTD RETURN As of 02/12/2016

NAV up $0.23 $12.77
POP $13.55
YTD Total return at Nav -10.07%

AVERAGE ANNUAL TOTAL RETURNS As of Quarter end 12/31/2015

Sales Charge

1 YEAR RETURN -9.80%
5 YEAR RETURN 6.94%
10 YEAR RETURN 3.98%

KEY STATS

Investment Category Value
Distributions Semiannually
CUSIP 628 380 875
Fund Number 476
Inception Date Jun 29, 1962
Total Net Assets (all share classes) As of 01/31/2016 $3,551.7 (M)
Distribution Rate at NAV N/A
30-Day Standardized yield N/A

SALES CHARGE, EXPENSES, & FEES As of 05/01/2015 (updated annually)

Gross Expense Ratio 1.13%
Net Expense Ratio 1.13%
Max Initial Sales Charge 5.75%
CDSC 0.00%
12b-1 Fee 0.30%

Fund Description

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.

Strategy Statement

"We work aggressively to discover value unrecognized by the market and thrive on finding opportunities where we believe there is a potential catalyst in place to unlock value for our shareholders. "

Christian Correa, CFA®, MBA

Management

Christian Correa, CFA, MBA

Christian Correa, CFA®, MBA

  • Joined Franklin Templeton in 2003
  • Managed Fund Since 2007
Mandana Hormozi, MBA

Mandana Hormozi, MBA

  • Joined Franklin Templeton in 2003
  • Managed Fund Since 2009
Aman Gupta, CFA, MBA

Aman Gupta, CFA®, MBA

  • Joined Franklin Templeton in 2010
  • Managed Fund Since 2013

Overall Morningstar Rating As of 01/31/2016

Rating Category: Large Value

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 01/31/2016

Years Ratings Funds
in category
3
1 Stars
1190
5
2 Stars
1040
10
2 Stars
757

Morningstar Style Box

We do not publish a style box for this fund.

Strategy, Benefits, Results

Strategy

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.

Benefits

  • 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.

Investing In The Fund

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.

Minimum Investment

$1,000.00

How Financial Advisors Help You

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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