PRICE AND YTD RETURN As of 07/22/2016

NAV up $0.04 $17.76
POP $18.84
YTD Total return at Nav -6.28%

AVERAGE ANNUAL TOTAL RETURNS As of Quarter end 06/30/2016

Sales Charge

1 YEAR RETURN -17.82%
5 YEAR RETURN 1.48%
10 YEAR RETURN 3.25%

KEY STATS

Investment Category Value
Distributions Semiannually
CUSIP 628 380 834
Fund Number 478
Inception Date Jul 03, 1996
Total Net Assets (all share classes) As of 06/30/2016 $2,602.7 (M)
Distribution Rate at NAV N/A
30-Day Standardized yield N/A

SALES CHARGE, EXPENSES, & FEES As of 05/01/2016 (updated annually)

Gross Expense Ratio 1.30%
Net Expense Ratio 1.30%
Max Initial Sales Charge 5.75%
CDSC 0.00%
12b-1 Fee 0.25%

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."

Philippe Brugere-Trelat

Management

Philippe Brugere-Trelat

Philippe Brugere-Trelat

  • Joined Franklin Templeton in 1984
  • Managed Fund Since 2004
Katrina Dudley, CFA, MBA

Katrina Dudley, CFA®, MBA

  • Joined Franklin Templeton in 2002
  • Managed Fund Since 2007

Overall Morningstar Rating As of 06/30/2016

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 06/30/2016

Years Ratings Funds
in category
3
2 Stars
92
5
3 Stars
77
10
5 Stars
63

Morningstar Style Box As of 03/31/2016

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. We focus predominantly on large- and mid-cap European equities, with an investment mix that contains a variety of industries.
  • A Record of Lower Volatility.
  • Activism. Managers go the extra mile and will 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.
  • Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments. Because the Fund invests its assets primarily in companies in a specific region, it is subject to greater risks of adverse developments in that region and/or the surrounding regions than a fund that is more broadly diversified geographically. Political, social or economic disruptions in the region, even in countries in which the Fund is not invested, may adversely affect the value of securities held by the Fund.
  • The Fund’s investments in smaller-company stocks carry an increased risk of price fluctuation, especially over the short term.
  • 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.
  • These and other risk considerations are discussed 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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