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TEQIX

Franklin Mutual Quest Fund

As of 12/12/2025

NAV 1

$16.20

$-0.06 (-0.37%)
 

POP 2

$17.14

 
 

YTD Total Return At NAV 3

16.50%

 

Overview

Fund Description

The fund seeks capital appreciation with income as a secondary goal. Its strategy is focused on undervalued mid- to large-cap equity securities with a significant portion of its assets in foreign securities. The fund also invests in merger arbitrage securities and securities of distressed companies.

Strategy Statement

"We apply our catalyst-driven investment approach across equity and credit markets globally, looking for compelling opportunities that are trading at a discount to fair value."

Keith W. Luh, CFA®

Strategy & Benefits

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. Since 1949, our clients with long-term investment horizons have appreciated Franklin Mutual Series' consistent approach to value. 

  • 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 engage with management in pursuing our clients' best interests.
  • Strive To Reduce Risk. Our unique strategy has historically provided the fund with lower volatility longer-term than the overall market and has enabled us to deliver attractive equity returns.
Benefits
  • Diversification. With the flexibility to invest a significant portion of its assets in foreign securities, the fund aims to take advantage of undervalued opportunities across the globe.
  • A Record of Lower Long-Term Volatility than the MSCI World Value Index.
  • Performance in All Types of Markets. Franklin Mutual Quest Fund aims to achieve long-term growth over up, down and sideways market cycles.

Investment Philosophy, Strategy and Approach

Fund Information
Asset Class 
Equity
Share Class Inception Date 
11/01/1996
Fund Inception Date 
09/26/1980
Benchmark45 
Blended 70% MSCI World Value-NR + 30% Bloomberg US Corporate High Yield Index
Additional Benchmark4 
MSCI World Value Index-NR
Investment Style 
Value
Lipper Classification 
Flexible Portfolio Funds
Morningstar Category6 
Global Moderately Aggressive Allocation
Total Net Assets  As of 11/30/2025 (Updated Monthly)
$2.68 Billion
Portfolio Turnover 
48%
Dividends & Yields
Dividend Frequency, if any 
Semiannually
Distribution Rate at NAV  As of 12/12/2025 (Updated Daily)
N/A
30-Day SEC Yield—With Waiver789  As of 11/30/2025 (Updated Monthly)
2.55%
Sales Charges, Expenses & Fees
As of 05/01/2025
Gross Expense Ratio10 
1.02%
Net Expense Ratio1011 
1.02%
Maximum Initial Charge 
5.50%
CDSC12 
1.00%
12b-1 Fee 
0.25%
Identifiers
Ticker 
TEQIX
Fund Number 
475
CUSIP Code 
628380800

Portfolio Managers

Keith W. Luh, CFA®

New Jersey, United States

Managed Fund Since 2010

Andrew B. Dinnhaupt, CFA®

New Jersey, United States

Managed Fund Since 2020

Performance

Portfolio

Portfolio Holdings

Distributions & Tax

Distributions

Distribution Schedules

Dividend Frequency, if any This fund is an ex-Dividend fund
Semiannually
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

Current Year Distributions Per Share
Distributions with future dates are estimates and those figures are not final
Record Date  
12/19/2025
Ex-Dividend Date  
12/22/2025
Reinvestment Date  
12/22/2025
Payable Date  
12/22/2025
Reinvestment Amount  
Long-Term Capital Gains  
$0.0000-$0.0000 Estimates
Short-Term Capital Gains  
$0.0000-$0.0000 Estimates
Income  
Total Distribution Per Share  
Estimates
Record Date  
09/30/2025
Ex-Dividend Date  
10/01/2025
Reinvestment Date  
10/01/2025
Payable Date  
10/01/2025
Reinvestment Amount  
$15.85
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0057
Total Distribution Per Share  
$0.0057

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.

Tax Information

Tax Information

Federal ID Number 13-3019906
For information on tax years prior to 2008, please contact us
These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Record Date  
Sep 30
Ordinary Dividends  
0.0073
Qualified Dividends  
0.003234
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Dec 19
Ordinary Dividends  
0.6775
Qualified Dividends  
0.300133
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Ordinary Dividends  
0.6848
Qualified Dividends  
0.303367
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Supplemental Tax Information
Foreign Source Income 
Foreign Source Qualified Dividends 
Direct U.S. Government Obligations 
3.44%
Specified Private Activity Bond Interest 
Dividends Received Deduction 
18.33%
Section 163(j) 
50.64%
Indiana Resident Taxable Income 
Utah Resident Taxable Income 

Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Pricing

Pricing History Chart

As of 12/12/2025 Updated Daily

Daily Fund Prices and Breakpoints

As of 12/12/2025

Share Prices

As of 12/12/2025
NAV1 (Net Asset Value)
$16.20
NAV Change1 
$-0.06
NAV Change (%)1 
-0.37%
POP2 (Public Offering Price)
$17.14

52-Week Range

Highest NAV  As on 12/11/2025
$16.26
Lowest NAV  As on 04/08/2025
$13.25
POP and Sales Charge at Breakpoints

Investment

Sales Charge

POP

Less than $25,000 5.50%$17.14
$25,000 - $49,999 5.25%$17.10
$50,000 - $99,999 4.50%$16.96
$100,000 - $249,999 3.50%$16.79
$250,000 - $499,999 2.50%$16.62
$500,000 - $749,999 2.00%$16.53
$750,000 - $999,999 1.50%$16.45
POP and Sales Charge at Breakpoints
Investment  
Less than $25,000
Sales Charge  
5.50%
POP  
$17.14
Investment  
$25,000 - $49,999
Sales Charge  
5.25%
POP  
$17.10
Investment  
$50,000 - $99,999
Sales Charge  
4.50%
POP  
$16.96
Investment  
$100,000 - $249,999
Sales Charge  
3.50%
POP  
$16.79
Investment  
$250,000 - $499,999
Sales Charge  
2.50%
POP  
$16.62
Investment  
$500,000 - $749,999
Sales Charge  
2.00%
POP  
$16.53
Investment  
$750,000 - $999,999
Sales Charge  
1.50%
POP  
$16.45

Documents

Product Literature

PDF Format

Factsheet - Franklin Mutual Quest Fund

Regulatory Documents

PDF Format

Semi-Annual Report - Franklin Mutual Quest Fund - Class A

PDF Format

Annual Report - Franklin Mutual Quest Fund - Class A

PDF Format

Prospectus - Franklin Mutual Series Fund

PDF Format

Summary Prospectus - Franklin Mutual Quest Fund

PDF Format

Statement of Additional Information - Franklin Mutual Series Fund

Mailed hardcopies unavailable.

PDF Format

Fiscal Q1 Holdings - Franklin Mutual Series Fund

Mailed hardcopies unavailable.

PDF Format

Fiscal Q3 Holdings - Franklin Mutual Series Fund

Mailed hardcopies unavailable.

Risks

What Are the 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 fund invests in companies in a specific country or region, the fund may experience greater volatility than a fund that is more broadly diversified geographically. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. 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.

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