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Franklin Templeton Hard Currency Fund

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

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Symbol ICPHX
CUSIP 354 728 305
Fund Number 412
Inception Date1 Nov 17, 1989
Distributions Annually
Total Net Assets
(all share classes)
As of 03/31/2014
$285.1
(millions)

As of  04/17/2014

NAV2 $9.26  
NAV Change -$0.01  
POP3 $9.47  
YTD Total Return at NAV -0.64%
Distribution Rate at NAV N/A
30-day Standardized Yield4,5
N/A

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

w/ Sales Charge w/o Sales Charge
1 Yr -5.46% -3.27%
5 Yrs 2.65% 3.12%
10 Yrs 3.12% 3.36%
Life 4.05% 4.14%

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

Gross Expense Ratio6 1.18%
Net Expense Ratio 1.13%
Max Initial Sales Charge 2.25%
CDSC 0.00%
12b-1 Fee 0.28%

Fund Description

Strategy Statement
Portfolio Managers
Michael Hasenstab
"We focus on countries and markets that have historically experienced low levels of inflation and that we believe offer the potential for currency appreciation versus the U.S. dollar."

Michael Hasenstab, Ph.D.
Joined Franklin Templeton in 1995
Managed Fund since 2001

Strategy, Benefits, Results

Strategy

Our strategy is to employ a range of analytic frameworks and only when a preponderance of evidence across our three tiers of analysis supports a given currency valuation will we overweight that given currency.

  • Tier 1. Involves fundamental long-term currency valuations where we utilize a range of analysis technologies.
  • Tier 2. Looks at the short-term dynamics that will be drivers of currencies, either toward or away from their long-term equilibrium value.
  • Tier 3. Focuses on scenario analysis where we model potential shocks and analyze their impacts on currency values, such as geopolitical risks or oil price shocks.

Benefits

  • Geographic Diversification. The fund has a diversified portfolio of currencies from around the world.
  • Global Platform. Global and local experts provide extensive country analysis through multiple perspectives and lenses.
  • Experieced Management. Michael Hasenstab has managed the fund since 2001 and is backed by a large and experienced team of analysts around the world.

Results

Hypothetical $10K Investment

Hypothetical $10K Investment

Investing in the Fund

What Are the Risks?
  • All investments involve risks, including possible loss of principal.
  • Special risks are associated with foreign investing, including economic instability and political developments.
  • The fund’s assets are largely invested in foreign currencies, and therefore involve potential for significant gain or loss from currency exchange rate fluctuations.
  • The fund does not seek to maintain a stable net asset value and should not be considered a substitute for a U.S. dollar money market fund.
  • The fund is also non-diversified, which involves the risk of greater price fluctuation than a more diversified portfolio.
  • 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.