Gross Expense Ratio
Net Expense Ratio
Max Initial Sales Charge
The fund seeks capital appreciation, with income as a secondary goal, investing at least 80% of its net assets in securities of financial services companies. It focuses mainly on undervalued equity securities and, to a lesser extent, in distressed securities and merger arbitrage opportunities.
We do not publish a style box for this fund.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.
- Financial Services Exposure. We aim to take advantage of a broad range of opportunities particular to the financial services industry.
- 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.
What Are the Risks?
- All investments involve risks, including possible loss of principal.
- Stocks historically have outperformed other asset classes over the long term, but tend to fluctuate more dramatically over the short term.
- Value securities may not increase in price as anticipated or may decline further in value.
- Investing in a single-sector fund involves special risks, including greater sensitivity to economic, political or regulatory developments impacting the sector.
- The fund’s investments in foreign securities involve special risks including currency fluctuations, and economic and political uncertainties.
- The fund’s investments in smaller company stocks carry an increased risk of price fluctuation, particularly over the short term.
- The fund may also invest in companies engaged in mergers, reorganizations or liquidations, which involves special risks, as pending deals may not be completed on time or on favorable terms. The fund’s investments in lower-rated bonds 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.
- 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 Financial Services Fund was renamed Franklin Mutual Financial Services 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.
- All investments involve risks, including possible loss of principal. Value securities may not increase in price as anticipated or may decline further in value. Investing in a single-sector fund involves special risks, including greater sensitivity to economic, political or regulatory developments impacting the sector. In addition, the fund invests in foreign securities whose risks include currency fluctuations, and economic and political uncertainties. The fund's investments in smaller company stocks carry an increased risk of price fluctuation, particularly over the short term. 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.
- 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.
- Net Asset Value — The amount per share you would receive if you sold shares that day.
- The fund's income distribution rate reflects the fund's past dividends paid to shareholders, while the fund's 30 day standardized yield reflects an estimated yield to maturity and should be regarded as an estimate of the fund's rate of investment income. Accordingly, the fund's distribution rate and 30 day standardized yield may differ.
- 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. For Franklin Ultra-Short California Tax-Free Income Fund Classes A1 and Advisor Class use the inception date of its predecessor, Franklin California Tax-Exempt Money Fund.
- Source: Morningstar®, 3/31/16. 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.
- 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.
- 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.
- 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.
- ©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.
- 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.