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The Franklin Templeton Investments Story

 

At Franklin Templeton Investments, we're dedicated to one goal: delivering exceptional asset management for our clients. By bringing together multiple, world-class investment teams in a single firm, we're able to offer specialized expertise across styles and asset classes, all supported by the strength and resources of one of the world's largest asset managers. This has helped us to become a trusted partner to individual and institutional investors across the globe.

  • Perspective

    Gain From Our Perspective

  • Global

    Global Capabilities

  • Consistency

    Strength and Experience

  • Platforms

    Our Investment Platforms

  • Investment Risk Management

    Investment Risk Management

    Investment Risk Management

  • Advice

    The Value of Advice

Why We Say "Gain From Our Perspective"

Our perspective comes from our global scope, the depth and breadth of our experience and the unique structure of three independent managers in one firm. It enables us to consider events, trends and marketplace changes from multiple vantage points and to spot investment opportunities others may miss.

How Our Structure Benefits You

Specialized, Time-Tested Expertise
The separate management groups at Franklin, Templeton and Mutual Series each started over 60 years ago. They continue to operate independently, relying on their own research and staying true to the disciplined investment philosophies at the root of their success.

  • Franklin. Founded 1947 — A recognized leader in fixed income investing and the largest municipal bond fund provider in the U.S. Equity expertise in growth-, core- and value-style funds.
  • Templeton. Founded 1940 — Synonymous, for more than half a century, with global and emerging markets investing. Sir John Templeton pioneered international investing and, in 1954, launched what is now the industry's oldest global fund.
  • Mutual Series. Founded 1949 — Dedicated to a unique style of value investing, searching aggressively for what it believes are undervalued stocks, as well as arbitrage situations and distressed securities. These strategies are designed to help reduce risk and seek to deliver solid risk-adjusted returns across market cycles.

Broader Diversification
Most investment experts agree that it's wise to diversify, but true diversification is difficult to achieve at most firms. Because our multiple management groups work independently, adhering to distinctly different investment approaches, Franklin, Templeton and Mutual Series funds offer broad diversification with a typically low number of common holdings.

Global Perspective with Local Insight
With offices in 35 countries across the globe, Franklin Templeton offers investors a truly global perspective. Our local research presence around the world has helped make us a leader in international investing for more than 65 years.

Reliability You Can Trust
We seek to provide investors with exceptional, risk-adjusted returns over the long term, as well as the reliable, accurate and personal service that has helped Franklin Templeton become one of the most trusted names in financial services.


Reference Links


Important Legal Information

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.

Global Perspective Shaped by Local Expertise

Experienced global pioneers

Our 65-year history as global investors helped us establish a solid global footprint long before many other investment managers. Today, we are recognized as a leader in global investing, with extensive expertise, a broad product line and deep research capabilities around the world.

Resources on the ground, across the globe

We believe superior insight into the cultural nuances of an investment helps us spot opportunities others may miss. To deliver this competitive advantage to our shareholders, we "think globally and act locally" with:

  • Over 600 investment professionals worldwide2
  • Offices in 35 countries
  • An average tenure among investment professionals of over 16 years in the industry and over 10 years with the firm2

Our global service platform provides an edge

Our investment professionals are supported by a robust and seamless global infrastructure that includes:

  • Global Trading: Our size and global reach allow us to optimize trading efficiencies and help reduce costs to shareholders.
  • Global Risk Management: The depth and breadth of our resources enable us to conduct detailed portfolio analytics designed to help measure and manage risk in our portfolios.
  • Global Compliance: Our organization's resources include global compliance expertise which helps ensure we meet all local regulatory requirements.

Middle East & Africa

  • Cape Town
  • Dubai
  • Johannesburg

Asia

  • Bangkok
  • Beijing
  • Chennai
  • Ho Chi Minh City3
  • Hong Kong
  • Hyderabad
  • Kuala Lumpur
  • Melbourne
  • Mumbai
  • Seoul
  • Shanghai3
  • Singapore
  • Sydney
  • Tokyo

Europe

  • Amsterdam
  • Bratislava
  • Brussels
  • Bucharest
  • Budapest
  • Edinburgh
  • Florence
  • Frankfurt
  • Geneva
  • Istanbul
  • Leeds
  • London
  • Luxembourg
  • Madrid
  • Milan
  • Moscow
  • Padova
  • Paris
  • Poznan
  • Rome
  • Stockholm
  • Vienna
  • Warsaw
  • Zurich

North America

  • Boston
  • Calgary
  • Dublin
  • Fort Lauderdale
  • Fort Lee
  • Los Angeles
  • Mexico City
  • Miami
  • Montreal
  • Nassau
  • New York City
  • Rancho Cordova
  • Salt Lake City
  • San Mateo
  • Short Hills
  • St. Petersburg
  • Stamford3
  • Toronto
  • Washington, D.C.
  • Wilmington

South America

  • Bogotá3
  • Buenos Aires
  • Rio de Janeiro
  • São Paulo
<< Please select a location.

Reference Links


Important Legal Information

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.

Footnotes

  1. As of 12/31/2013.
  2. As of 12/31/2013. Investment professionals include portfolio managers, portfolio managers/analysts, research analysts and traders of Franklin, Templeton, Mutual Series and subsidiary investment management groups.
  3. Includes joint venture partners with Franklin Templeton Investments.

Our Focus is on the Long-Term

As you look for guidance and help with achieving your financial goals, you're right to ask about the company behind the funds your financial advisor has recommended. For over 65 years, we've applied the same disciplined, long-term approach to managing our corporation that has been a hallmark of our investment process.

As a business, we strive to:

Maintain a strong corporate balance sheet
Franklin Resources, our parent company, is well capitalized with minimal leverage and has one of the strongest balance sheets among public companies in our industry. This financial strength helps ensure that we have the resources to invest in great people and service capabilities through market highs and lows.

Diversify - by asset class, geography and types of investment
Layers of diversification help ensure strength throughout market cycles.

  • Diversify Globally: Offices in 35 countries and shareholders in 150+ countries1
  • Diversify by Investment Strategy: We offer investment solutions in all key asset categories, as well as specialized investment choices for retirement and college savings
  • Diversify by Types of Investors: We provide investment opportunities appropriate for individuals and institutions around the world.

Keep a deep bench of investment experts
Attracting and retaining top investment management talent allows us to institutionalize proven strategies over the long term. We have over 600 investment professionals around the world, with an average tenure among investment professionals of over 16 years in the industry and over 10 years with the firm.2

Be disciplined and consistent
We adhere to a rigorous investment process supported by global trading and risk management resources. We seek to ensure that risk is intended, understood and compensated.


Important Legal Information

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.

Footnotes

  1. As of 12/31/2013.
  2. As of 12/31/2013. Investment professionals include portfolio managers, portfolio managers/analysts, research analysts and traders of Franklin, Templeton, Mutual Series and subsidiary investment management groups.

The Unique Perspective of our World Class Investment Management Groups

Franklin

For more than six decades Franklin has been a recognized leader in money management, currently offering in-depth investment expertise in growth- and value-style equity, fixed income, real estate and local asset management. We are driven by the conviction that superior risk-adjusted returns can be achieved over time by using a team-oriented, collaborative approach and disciplined, bottom-up fundamental research. Read More

Templeton

For over half a century, the Templeton name has been synonymous with global investment management. Backed by a world-class global research platform, we employ a time-tested investment strategy developed by our founder Sir John Templeton, taking a disciplined, long-term approach to value investing in both global equity and emerging markets. Our experienced investment teams scour the world for the most undervalued companies and maintain a local presence including in-person visits that help to create high quality investment information about thousands of companies each year. Read More

Mutual Series

At Mutual Series, our focus is on recognizing value that most other investors might miss. We believe that despite short-term market fluctuation, cash flow, revenue and the intrinsic value of companies ultimately drive stock prices in the long run. Our goal is to deliver solid, risk-adjusted returns, over the long-term. Over the last 60 years, Mutual Series' consistent, deep-value approach has benefited shareholders with long-term investment horizons. Read More


Growth (Franklin Equity Group)
Our investments in high-quality companies with the potential for long-term sustainable growth can provide significant opportunities for investors. We focus on companies across the full global opportunity set that meet our criteria of:
  • Growth. Focus on companies with the potential to produce sustainable earnings and cash flow growth.
  • Quality. Seek high-quality companies with strong management teams and financial strength.
  • Valuation. Assess whether the growth opportunity is already reflected in the stock price.

Value (Franklin Equity Group)
We believe that high-quality companies with solid management teams trading at attractive valuations (relative to the overall market or industry growth trends) can provide solid, long-term results for investors. We focus on companies with one or more of the following characteristics:

  • A stock price that is low relative to the company's earnings, book value, cash flow or sales, when compared to the market, its industry or its own historical measures.
  • A recent sharp stock price decline due to short-term issues, despite the manager's belief in the company's prospects for good, long-term earnings (fallen angel).
  • Valuable intangibles not reflected in the stock price such as franchises, distribution networks or market share for particular products or services, underused or understated assets or cash, or patents and trademarks.

Hybrid
By combining the investment philosophies and expertise of both Franklin Equity Group and Franklin Templeton Fixed Income Group®, our hybrid funds provide an opportunity to participate in the growth potential of the equities market while also seeking current income and reduced overall risk.


Franklin Snapshot:
Established 1947
Style Growth, Core/Hybrid
Capabilities
  • Global
  • Sector
  • Regional
  • Single Country
Strengths
  • Experienced investment professionals covering all market capitalizations and styles
  • Collaborative environment that balances autonomy with rigorous debate and accountability
  • More than 60 years of investing in equities while staying true to our disciplines, regardless of short-term market cycles

Fixed Income (Franklin Templeton Fixed Income Group®)
The Franklin Templeton Fixed Income Group® is an integrated global fixed income platform comprising over 100 investment professionals located in offices around the world.

A global fixed income leader, the group has depth and breadth of expertise in all major sectors of the fixed income market, including investment grade and high yield corporate bonds, mortgage- and asset-backed securities, global sovereign and emerging market debt, municipal securities and bank loans. Each sector is covered by a dedicated team, enabling us to comprehensively examine the market and uncover unique opportunities. Our global perspective is enhanced by dedicated local teams in many nations and a quantitative research team that participates in research and portfolio reviews. This global framework, significant bottom-up resources and integrated quantitative group enable us to build portfolios with a disciplined, risk-controlled approach.

  • Top-Down Analysis — Senior leaders set the outlook for markets, sectors and currencies based on analysis of global economic trends and fixed income market cycles.
  • Bottom-Up Research — Dedicated sector specialists undertake detailed, proprietary research to focus on finding the relative value opportunities within their field.
  • Comprehensive Risk Management — Understanding risk is crucial to the investment management process. A dedicated team continually evaluates risk over economic and credit cycles.

Franklin Templeton Fixed Income Group® Snapshot:
Established 1970
Style Fixed Income
Capabilities
  • Single and multi-sector strategies
Strengths
  • Dedicated fixed income professionals located around the world
  • Disciplined risk-control and risk management measures
  • Pursuit of diversified sources of potential alpha across securities, sectors and global markets

Franklin Templeton Real Asset Advisors

Franklin Templeton Real Asset Advisors has been investing globally since 1984 and counts among its clients leading institutions and retail investors from around the world. The team focuses on exploiting inefficiencies in local markets around the world to source, select and monitor real asset investments. Their integrated platform of private and listed investment offerings provides diversification and income potential through real assets, which are less correlated with the broader market and can enhance portfolios over full market cycles.

As investors in both private as well as public markets, Franklin Templeton Real Asset Advisors draws on a comprehensive perspective of global capital flows, investor behavior, and sector trends across markets and regions. Each of the world's three major investment regions — the Americas, Europe, and Asia Pacific — is covered by professionals with experience in the local market, providing cultural perspective and specialized asset class knowledge. Franklin Templeton's worldwide presence provides the private real estate, listed real estate securities, and listed infrastructure securities investment teams with local support in several areas including legal, tax, compliance, accounting and client service.

 

Franklin Templeton Real Asset Advisors Snapshot:
Established 1984
Style Multi-sector and multi-region
Capabilities
  • Global Private and Listed Real Estate
  • Global Listed Infrastructure
Strengths
  • Experienced and multinational team of investment professionals
  • Skillful sourcing and selection capabilities across markets drive search for superior risk-adjusted returns
  • Emphasis on risk management, seek downside protection

Franklin Templeton Local Asset Management
As one of the first global asset management firms to establish local asset management capabilities in India (1993) and in South Korea (1997), Franklin Templeton is a pioneer in local asset management. Our goal is to manage each local business on a global scale, focusing on local investing, benchmarks and client needs, while drawing on the deep resources and global presence of the broader Franklin Templeton organization. Each local office (or strategic alliance) employs a truly "local" investment process that gives managers flexibility in investment decisions.

Since 1982, Franklin Templeton has developed or invested in local asset management capabilities — local portfolio managers investing locally — in several countries, including:

  • Australia
  • Brazil
  • Canada
  • China (joint venture)
  • Europe
  • India
  • Japan
  • Malaysia
  • Mexico
  • Middle East/North Africa
  • South Korea
  • United Kingdom
  • Vietnam (joint venture)

Franklin Templeton Local Asset Management Snapshot:
Established 1993
Style Growth, Core and Hybrid
Capabilities
  • Global
  • Regional
  • Single-Country
Strengths
  • Global portfolios on a country-by-country basis
  • Access to local investment managers, stocks, and research
  • Leverage Franklin Templeton's global risk management and trading platforms

Franklin Templeton Solutions
Franklin Templeton Solutions (FT Solutions) is a global investment platform with over 30 years experience managing multi-asset, multi-strategy portfolios focused on seeking to provide strong risk-adjusted performance over the long term.2

FT Solutions Approach:

  • Leverage the Broad Investment Resources of Franklin Templeton. The team leverages the intellectual capital and investment expertise of Franklin Templeton's distinct investment management groups.
  • Construct Expertly Tailored Strategies. FT Solutions believes that strategic allocations and appropriate portfolio design are fundamental to meeting each mandate's unique investment objectives.
  • Add Value Through an Active Asset Allocation Process. The team employs a fundamental, systematic approach to tactical asset allocation paired with in-depth, bottom-up research of complementary underlying strategies across asset classes, to provide diversification that can help reduce volatility and improve the potential for more consistent returns over time.

FT Solutions Snapshot:
Established 1994
Style Asset Allocation
Capabilities
  • Multi-Asset Strategy
  • Global Tactical Asset Allocation
  • Custom / Advisory Solutions - Alternative and Traditional
  • Hedge Fund Portfolios (Multi- and Single Strategy) and Replication
Strengths
  • Established global team employing timely investment themes driven by top-down/bottom-up views
  • Disciplined investment approach incorporating a multi-asset/multi-time horizon view distinctive within Franklin Templeton
  • Focus on creating diversified portfolios accessing multiple sources of alpha


Templeton Global Equity Group
Investment philosophy built on four fundamental cornerstones:

  • Search Globally. We believe that the best investment opportunities and bargains are borderless and leverage the experience and resource infrastructure developed over the last 60 years from Asia to Europe to the Americas.
  • Seek Value. We search worldwide for stocks selling at prices we believe are low relative to their true value.
  • Perform Fundamental, Bottom-Up Research. We conduct in-person visits and perform extensive fundamental research and then we compare the results to other companies in the same industry and versus companies regionally and globally.
  • Practice Patient, Long-Term Investing. As disciplined investors, we adhere to a sound investment plan evaluating a company's potential over a five-year horizon.

Templeton Emerging Markets Group
Following Templeton Global Equity Group's bottom-up, long-term, value-oriented investment philosophy, our emerging markets team focuses on investment opportunities in emerging and frontier markets, where we can capitalize on the dynamic economic growth potential of these regions of the world.


Templeton Snapshot:
Established 1940
Style Value
Capabilities
  • Global
  • Regional
  • Single-Country
Strengths
  • Disciplined, long-term approach to global value investing for over 65 years
  • Over 20 years of specialized emerging markets investment experience
  • Research teams located around the world create a true global footprint


Mutual Series
Since 1949, Mutual Series' pursuit of value has been the underlying force driving our strategy.

  • 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. Through bottom-up research, we seek to find value wherever it hides.
  • Think and Act Like Company Owners. We have a responsibility to our shareholders and won't hesitate to be activist investors if their interests need to be protected.
  • Strive To Reduce Risk. Undervalued stocks are by definition discounted, which we believe reduces risk. Our unique strategy has historically provided the funds with lower volatility than the overall market and has enabled us to deliver strong results over the long term.

Mutual Series Snapshot:
Established 1949
Style Deep Value
Capabilities
  • Global
  • Regional
Strengths
  • Over six decades of deep value investing
  • Strategy combines the key elements of investing in undervalued stocks and, to a lesser extent, merger arbitrage and distressed securities
  • Activist investors when necessary

K2 Advisors2

K2 Advisors is a hedge fund solutions manager that is highly regarded for its client-centric approach to providing investors with individualized attention and customized programs. A pioneer in requiring the disclosure of portfolio holdings from its managers, K2 has developed an extensive set of proprietary analysis and risk modeling tools that help its 30 investment professionals use portfolio data to blend the art and science of manager research with asset allocation to construct customized alternative investment solutions that are grounded in risk transparency.

 

K2 Advisors Snapshot:
Established 1994
Style Multi- and Single-Strategy Hedge Fund Portfolios
Capabilities
  • Global, Sector and Regional Custom and Advisory Solutions
  • Hedge Fund Replication
Strengths
  • Established investment team using innovative holdings-based risk analysis for hedge fund strategies
  • Disciplined risk management process and control measures
  • Pursuit of absolute returns with reduced volatility and low correlation to traditional equity and bond markets


Important Legal Information

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.

Footnotes

  1. Franklin Templeton Solutions (formerly Franklin Templeton Multi-Asset Strategies) is a global investment management group dedicated to multi-strategy solutions and is comprised of individuals representing various registered investment advisory entity subsidiaries of Franklin Resources, Inc., a global investment organization operating as Franklin Templeton Investments (FTI). Certain individuals advise Franklin Templeton Solutions (FT Solutions) mandates through K2 Advisors L.L.C. ("K2"), an FTI adviser that forms part of an investment group founded in 1994 through existing advisory entities or their predecessors. FT Solutions originated in 2007 to combine the research and oversight of the multi-strategy investment solutions offered by FTI. Franklin Templeton Investments acquired a majority interest in K2 Advisors Holdings, LLC on 1 November 2012.
  2. Franklin Templeton Investments acquired a majority stake in K2 Advisors on 1 November 2012.

Investment Risk Management

Managing risk is a fundamental part of our approach to investing, and has been since our firm was founded in 1947. Our portfolio managers assess risk as rigorously as they seek reward, leveraging time-tested strategies that have weathered a variety of market conditions.

Across our portfolios, we take a comprehensive, integrated approach to managing investment risk, based on the belief that risks should be recognized, rational and rewarded.







Our Approach
Managing investment risk starts and ends with our portfolio managers, who look at both risk and return from every angle as they navigate today's complex investment landscape. Dedicated risk management specialists support our portfolio managers in conjunction with oversight committees and the application of sophisticated risk-management tools.
  • Our portfolio managers:
    • employ a fundamental, research-driven approach to managing assets.
    • assess risk at each stage of the investment life-cycle—including investment selection, portfolio construction and ongoing portfolio evaluation.
    • are backed by the strength and stability of our global organization, which enables them to maintain a long-term perspective.
  • Our dedicated risk management specialists are:
    • independent, providing robust analytics and critical, unbiased insight on each portfolio's risk profile.
    • integrated into our global portfolio and trading network, co-located with portfolio managers around the world, to support our activities in markets where we invest.
  • Our oversight committees focus on helping portfolio managers understand the most complex risk factors associated with:
    • derivatives and complex securities: review all complex securities to identify risk factors prior to purchase.
    • pricing and liquidity: analyze security valuations in emerging, frontier and other markets where liquidity may be limited.
    • counterparty risks: assess risks posed by the banks, brokerages, and investment firms who act as trading partners.
    • global product development: consider potential risk factors as part of new product development.
  • Our portfolio teams also leverage centrally-supported, best in class platforms that provide additional insight, including:
    • data analytics and modeling
    • portfolio compliance
    • trade monitoring and execution
Five Hidden Risks
Our comprehensive risk management approach seeks to identify and manage "five hidden risks" that others may miss and can cause unintended consequences for portfolios.

1st Hidden Risk 1. Hidden Portfolio Concentration
Unrecognized concentration in exposure to industries, currencies or market risk factors can compound the risk exposure in a portfolio.
    • More than 90 risk and performance specialists provide independent unbiased "top-down" analysis, which can help uncover hidden portfolio concentrations and expose unintended risks.1
2nd Hidden Risk 2. (Mis)use of Derivatives & Complex Securities
Lack of full understanding of performance or other characteristics associated with complex securities.
    • Established a Complex Securities Review Committee in 2007.
    • All positions in derivatives and complex securities are thoroughly vetted.
3rd Hidden Risk 3. Global/Emerging Market Risk
Under-managing risks associated with global, emerging and frontier markets securities, such as limited liquidity, reduced corporate governance and lack of standard accounting practices.
    • With over 600 investment professionals2 worldwide and offices in 35 countries, we have global perspective built on first-hand local insight.
    • Our 14 dedicated local asset management teams live and invest in local markets, bringing in-depth understanding of the markets they serve.
    • Over 65 years of experience across global markets
    • We bring expertise in global, emerging and frontier markets.
4th Hidden Risk 4. Concentrated Exposure to Counterparties
Failure to diversify and actively monitor or manage counterparty credit exposure.
    • We established a Counterparty Credit Committee in 2007 to monitor and mange the risk posed by counterparties (the banks, brokerages and investment banks that act as trading partners).
5th Hidden Risk 5. Tunnel Vision
Relying on a single model-driven or purely quantitative approach or data source to evaluate and manage risk.
  • We take a multi-dimensional view of risk, leveraging:
    • Experienced portfolio managers and time tested-strategies.
    • Integrated and independent global risk and performance specialist teams.
    • Oversight committees provide guidance on the most complex risk factors.

Important Legal Information

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.

Footnotes

  1. As of 12/31/2013.
  2. As of 12/31/2013. Investment professionals include portfolio managers, portfolio managers/analysts, research analysts and traders of Franklin, Templeton, Mutual Series and subsidiary investment management groups.

We Believe in the Value of Advice

Our mutual funds are available through financial advisors because we believe investors can benefit from ongoing professional advice. The expertise of a financial advisor can prove invaluable in helping you define your needs and by recommending investments suitable to your unique financial objectives.

A Financial Advisor Can Help

  • Determine your financial goals and risk tolerance
  • Develop a solid asset allocation plan tailored to your situation
  • Provide guidance and expertise on tax, retirement, estate and college costs planning
  • Assess the potential risks and rewards of various investment options
  • Monitor your investments over time and ensure your asset allocation remains appropriate as your situation changes
  • Offer objectivity, support and guidance during periods of market volatility, when many investors are tempted to stray from long-term strategies

If you do not have a financial advisor and need assistance finding one, please complete the referral request form to locate advisors in your area.


Reference Links


Important Legal Information

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.

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    For U.S. residents only.