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Franklin MicroCap Value Fund

Fund Category: ValueGo to Prices & Performance page
showing this category of funds.

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Symbol FRMCX
CUSIP 355 148 206
Fund Number 189
Inception Date1 Dec 12, 1995
Distributions Annually
Total Net Assets
(all share classes)
As of 03/31/2014
$559.3
(millions)

As of  04/16/2014

NAV2 $39.57  
NAV Change $0.21  
POP3 $41.98  
YTD Total Return at NAV -2.30%
Distribution Rate at NAV N/A
30-day Standardized Yield
N/A

Average Annual Total Returns
As of Quarter End 03/31/2014

w/ Sales Charge w/o Sales Charge
1 Yr 12.01% 18.85%
5 Yrs 22.60% 24.06%
10 Yrs 8.92% 9.57%
Life 12.17% 12.54%

Expense Ratio and Sales Charge As of 03/01/2014 (updated annually)

Gross Expense Ratio4 1.19%
Net Expense Ratio 1.17%
Max Initial Sales Charge 5.75%
CDSC 0.00%
12b-1 Fee 0.24%

Fund Description

Strategy Statement
Portfolio Managers
Bruce Baughman
"We look for financially sound, micro-cap companies where we can gain from market inefficiencies. We seek companies with low price-to-book value that we believe will increase over several years."

Bruce C. Baughman, CPA
Joined Franklin Templeton in 1988
Managed Fund since 1995

Strategy, Benefits, Results

Strategy

We are long-term, bottom-up investors looking for companies with solid operating results and trading at attractive valuations. We are bargain seekers looking for $1 worth of value for 80 cents.

We seek undervalued micro-capitalization companies with the following characteristics:

  • Well-managed companies with strong fundamentals and low price-to-book values.
  • Stock prices that are low based on earnings, cash flow or sales and relative to the market, a company's industry or a company's earnings record.
  • Recent sharp price declines but the potential for good long-term earning prospects.
  • Valuable intangibles not reflected in the stock price, such as franchises, underused or understated assets or cash, or patents and trademarks.

We are buy-and-hold investors who generally seek to hold an investment for five or more years.

Benefits

  • MicroCap Exposure. We like micro caps that exist below Wall Street's radar, where we can take advantage of the market's inefficiencies.
  • Broad Market Exposure. We invest in a broad variety of companies across multiple sectors and industries.
  • Value Expertise. Investors benefit from our veteran management team with extensive value-investing experience.

Results

Hypothetical $10K Investment

Hypothetical $10K Investment

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.
  • Smaller-company securities may have limited liquidity and involve risks such as relatively small revenues, limited product lines and small market share.
  • Historically, these stocks have exhibited greater price volatility than larger-company stocks, especially over the short term.
  • Investments in foreign securities involve special risks, including currency fluctuations and economic and political uncertainty.
  • 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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Important Legal Information

Footnotes

For U.S. residents only.