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TFSIX

Franklin Mutual Financial Services Fund

Effective April 26, 2024, this fund was reorganized into Franklin Mutual Global Discovery Fund. If you have any questions, please contact your financial professional.

Overview

Fund Description

The fund seeks capital appreciation, which may occasionally be short term, with income as a secondary goal, investing at least 80% of its net assets in securities of financial services companies. It focuses primarily on undervalued equity securities which may include foreign securities and, to a significantly lesser extent, merger arbitrage securities and securities of distressed companies.

Strategy Statement

"We invest in companies within the global financial services industry that are trading at a discount to our assessment of their fair value."

Andrew B. Dinnhaupt, 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
  • Financial Services Exposure. We aim to take advantage of a broad range of opportunities particular to the financial services industry.
  • A Record of Lower Long-Term Volatility than the MSCI World Financials Sector Index.
  • Performance in All Types of Markets. Franklin Mutual Financial Services Fund aims to achieve long-term growth over up, down and sideways market cycles.

Investment Philosophy, Strategy and Approach

Performance

Portfolio

Distributions & Tax

Distributions

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 65-0764094
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 ($)
2024 fund-specific tax information should be available by January 31, 2025.

Pricing

Pricing History Chart

Daily Fund Prices

52-Week Range

Highest NAV 
Lowest NAV 

Documents

Regulatory Documents

PDF Format

Franklin Mutual Financial Services Fund Prospectus Supplement December 2023

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. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. 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. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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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