Franklin Growth Fund Class A, C
|
|
- Aleesha Gregory
- 6 years ago
- Views:
Transcription
1 Growth Equity Product Profile Product Details 1 Fund Assets $14,670,534, Fund Inception Date 03/31/1948 Number of Issuers 152 NASDAQ Symbol Investment Style Benchmark Lipper Classification Morningstar Category Dividend Frequency FKGRX Growth S&P 500 Index Multi-Cap Growth Funds Large Growth Annually in December Inception Date Class A 03/31/1948 Class C 05/01/1995 CUSIP NASDAQ Symbol Class A FKGRX Class C FRGSX Class A Class C Maximum 5.75% initial sales charge 1.00% contingent deferred sales charge (CDSC) in the first year only Total Annual Operating Expenses With Waiver Without Waiver Class A 0.88% 0.9% Class C 1.63% 1.65% Fund Description The fund seeks long-term capital appreciation by investing substantially in the equity securities of companies that are leaders in their industries, and which the managers believe are suitable for a buy-and-hold strategy. Performance Data 2,3 Average Annual Total Returns 4,5 (%) 3 Mths YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs 20 Yrs Since Inception Class A - With Class A - Without Class C - With Class C - Without S&P 500 Index % 20% 0% -20% Mths YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs 20 Yrs Since Inception Class A - With Class A - Without S&P 500 Index Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. The fund s investment return and principal value will change with market conditions, and you may have a gain or a loss when you sell your shares. Please call Franklin Templeton Investments at (800) DIAL BEN/ or visit franklintempleton.com for the most recent month-end performance. The fund has a fee waiver associated with any investment it makes in a Franklin Templeton money fund and/or other Franklin Templeton fund, contractually guaranteed through 01/31/2018. Fund investment results reflect the fee waiver; without this waiver, the results would have been lower. Calendar Year Returns (% Without ) Class A Class C S&P 500 Index If the sales charge had been included, the returns would have been lower. 1. All holdings are subject to change. Holdings of the same issuers have been combined. 2. Effective 05/01/1994, the fund implemented a Rule 12b-1 plan, which affects subsequent performance. Class A: Prior to 08/03/1998, these shares were offered at a lower initial sales charge; thus actual returns may differ. Class C: Prior to 01/01/2004, these shares were offered with an initial sales charge; thus actual returns may differ. The fund offers other share classes subject to different fees and expenses, which will affect their performance. Please see the prospectus for details. 3. Source for Index: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 4. Periods shorter than one year are shown as cumulative total returns. 5. Since inception return for the benchmark is calculated to the fund inception date. Not FDIC Insured May Lose Value No Bank Guarantee
2 Portfolio Manager Insight 6 Market Review Throughout 2017 s fourth quarter, many investors remained bullish for US equities amid global economic growth momentum, ongoing strength in corporate earnings, upbeat business sentiment and Congressional passage of US tax reform that featured a significant reduction in the corporate tax rate. Another key factor underpinning the record upswing in stocks was the continued 2017 decline in the trade-weighted US dollar s value. Against a backdrop of low volatility and subdued inflation, major US equity indexes repeatedly rallied to new all-time highs, led by strength in consumer discretionary, information technology, financials and materials stocks. All seven other sectors also advanced. In terms of company size, returns for largeand mid-capitalization stocks nearly doubled those in the small-cap universe. By investment style, growth stocks generally outperformed their valueoriented counterparts across all three market-cap tiers. Collectively, US equities topped those of most developed countries except for those along the Pacific Rim. In US-dollar terms, emerging-market stocks had larger returns than those of developed markets, as well as frontier markets, much as they did for 2017 as a whole. Data ranging from the labor market to consumer patterns and confidence suggested the US economy ended 2017 on a strong note despite a mixture of hurricane-induced effects that were evident in vehicle, retail and home sales, as well as in energy markets and non-core inflationary measures. Retail sales climbed to an all-time high, and the housing market regained momentum after almost stalling earlier in Consumer confidence rose to its highest point since the early 2000s, bolstered in part by optimism about the labor market. Solid job creation was accompanied by lackluster wage growth even as the unemployment rate dropped to a 17-year low. Industrial output reached a new cyclical high, and the expansionary pace of manufacturing activity, though decelerating slightly since September, remained near a 13-year peak. Meanwhile, a key non-manufacturing survey, which tracks construction and mining as well as the services sector, rose to its highest level since Against this backdrop, the US Federal Reserve raised shortterm interest rates and maintained its forecast of three rate increases in Performance Review The fund lagged its benchmark, the S&P 500 Index, in the fourth quarter largely due to its overweighting in the health care sector. In contrast, the utilities and consumer staples sectors contributed to relative returns, as did select holdings that outperformed. The health care sector was burdened by an overweighting in the biotechnology industry and a position in Celgene, which cut its full-year earnings forecast amid slowing sales for one of its key drugs. Sales declines for several flagship drugs also weighed on shares of Amgen and further dampened returns. Other health care sector detractors included precision instruments supplier Mettler-Toledo International and drug developer Allergan. Conversely, health care company Haemonetics was a contributor to absolute and relative performance. Heightened competition and rising costs in the third quarter created a difficult environment for Alaska Air Group, which weighed on its shares and detracted from returns in the industrials sector. Defense contractor General Dynamics reported lackluster third-quarter financial results that dampened its shares and further curbed performance. In contrast, several industrials sector holdings contributed to quarterly returns, including Boeing and Union Pacific. Strong aircraft orders boosted the shares of aerospace company Boeing, while new tax legislation proved positive for railroad company Union Pacific. Upbeat corporate earnings and strength in the underlying economy broadly supported the technology sector over the quarter and overall in While investments in Intel and Microsoft led to strong absolute returns, our underweightings created a drag on relative performance. Conversely, sensor manufacturer TE Connectivity shares had a strong year and contributed to returns, with growth driven by the proliferation of connectivity, particularly in the automotive and industrial markets. In the consumer staples sector, wine and spirits company Brown-Forman proved positive for fund performance. Also in the sector, energy drinkmaker Monster Beverage reported solid third-quarter financial results driven by growth in its international markets, which lifted its shares and added to returns. Amazon.com continued to drive results in the consumer discretionary sector, with the online retailer benefiting from revenue growth in retail and sustained growth in Amazon Web Services. Elsewhere, the prospects for a lower corporate tax rate and higher interest rates helped financial stocks, including our position in Charles Schwab in the financials sector. Portfolio Positioning The fund seeks to deliver superior risk-adjusted returns by identifying companies with potential for sustainable growth that is not reflected in current market prices. The team utilizes fundamental, bottom-up research to focus on companies that it believes have characteristics of sustainable growth as evaluated on the basis of growth potential, quality and valuation criteria. The managers continually work with analysts to evaluate upside potential and downside risk, striving to maintain a rewarding portfolio. During the fourth quarter, the fund s sector weightings modestly decreased in health care and remained relatively stable in other sectors over prior quarter. The fund s largest sector overweighting during the reporting period was industrials. In contrast, the financials sector was most underweight in relative terms. Outlook & Strategy We expect the continued positive backdrop of low inflation and interest rates along with modest growth to remain in place and to be supportive of growth equities in the United States and globally. However, we are mindful of some reasonable risk scenarios such as the US economy overheating, possibly in combination with interest-rate and inflation surprises to the upside that might lead to market volatility. Nevertheless, as long-term investors, we believe that while macro factors can be volatile in the short to medium term, there is an innovation-driven, secular tailwind for growth at work. For example, in recent years, the application of data analytics and automation, combined with the power of cloud computing, has driven secular changes in numerous other industries, such as health care, industrials and retail. As we look at the investment landscape, we are identifying companies embracing innovation and/or leveraging new technologies that disrupt traditional business models. For instance, consumer-oriented companies that want to stay relevant will need to make software investments to create more seamless customer experiences. Companies outside of the technology space have realized that, in order to remain competitive in an increasingly digitized landscape, they must embrace digital transformation, such as cloud computing, cybersecurity, and artificial intelligence. These examples have led us to view technology spending and investment as less discretionary and more necessary, giving IT a certain resiliency. franklintempleton.com 2
3 At the core of our investment strategy is the pursuit of equity securities of quality companies that we believe are leaders in their industries, have the potential to benefit from multi-year secular tailwinds and can generate solid risk-adjusted investment performance over a long-term horizon. As active managers, we see near-term market gyrations or short-term politically-induced market upheavals as opportunities to buy high-quality companies at more attractive prices. So, we are apt to see any short-term volatility not as an obstacle, but as an occasion to add quality names to our portfolios. 6. The information provided is not a complete analysis of every material fact regarding any country, market, industry, security or fund. Because market and economic conditions are subject to change, comments, opinions and analyses are rendered as of the date of this material and may change without notice. A portfolio manager s assessment of a particular security, investment or strategy is not intended as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy; it is intended only to provide insight into the fund s portfolio selection process. Holdings are subject to change. Portfolio Characteristics 7,8,9 Portfolio S&P 500 Index Market Capitalization (Millions in USD) 156, ,252 Return on Equity 22.24% 18.92% Historical 3-Year EPS Growth 12.44% 11.28% Estimated 3-5 Yr EPS Growth 14.16% 12.04% Operating Margin 21.66% 20.65% Net Margin 14.21% 14.37% Price to Earnings (12 Month Forward) 22.35x 19.96x Portfolio Diversification Top Ten Holdings 10 Top Holdings Sector % APPLE INC Technology Hardware & Equipment 4.71 AMAZON.COM INC Retailing 2.79 ALPHABET INC Software & Services 2.31 NORTHROP GRUMMAN CORP Capital Goods 2.30 BOEING CO Capital Goods 2.21 MICROSOFT CORP Software & Services 1.98 UNION PACIFIC CORP Transportation 1.86 METTLER-TOLEDO INTERNATIONAL INC Pharmaceuticals, Biotechnology & Life Sciences 1.79 ALASKA AIR GROUP INC Transportation 1.60 MASTERCARD INC Software & Services The portfolio characteristics listed are based on the fund s underlying holdings, and do not necessarily reflect the fund s characteristics. Due to data limitations all equity holdings are assumed to be the primary equity issue (usually the ordinary or common shares) of each security s issuing company. This methodology may cause small differences between the portfolio s reported characteristics and the portfolio s actual characteristics. In practice, Franklin Templeton s portfolio managers invest in the class or type of security which they believe is most appropriate at the time of purchase. The market capitalization figures for both the portfolio and the benchmark are at the security level, not aggregated up to the main issuer. Source: Factset. Price ratio calculations for weighted average use harmonic means. Any exceptions to this are noted. The Return on Equity calculation uses simple weighted average means. The Estimated 3-5 Year EPS Growth uses simple weighted average means. There can be no assurance that the Estimated 3-5 Year EPS Growth will be realized. Information is historical and may not reflect current or future portfolio characteristics. All holdings are subject to change. 8. Source: FactSet. Price ratio calculations for weighted average use harmonic means. Any exceptions to this are noted. 9. Source for Index: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 10. Holdings of the same issuers have been combined. Top ten holdings information is historical and may not reflect current or future portfolio characteristics. All holdings are subject to change. The information provided is not a recommendation to purchase, sell, or hold any particular security. The portfolio manager for the fund reserves the right to withhold release of information with respect to holdings that would otherwise be included. franklintempleton.com 3
4 Sector Allocation 11 Sector Weightings vs. S&P 500 Index 12,13 Industrials Industrials Information Technology Health Care 6.64 Health Care Materials 1.80 Consumer Discretionary 7.64 Information Technology 0.64 Financials 5.41 Real Estate Materials 4.80 Utilities Consumer Staples 4.17 Consumer Staples Energy 1.81 Energy Real Estate 1.49 Consumer Discretionary Utilities 0.70 Financials Cash & Cash Equivalents 1.33 Cash & Cash Equivalents % 5% 10% 15% 20% 25% 30% 35% -15% -10% -5% 0% 5% 10% 15% 20% 25% Largest Sector Contributors vs. S&P 500 Index 14 Total Sector Effect (%) Utilities 0.21 Consumer Staples 0.14 Telecommunication Services 0.07 Energy 0.05 Real Estate 0.05 Contributors/detractors data shown is for the period from 10/01/2017 to 12/31/2017. Smallest Sector Contributors vs. S&P 500 Index 15 Total Sector Effect (%) Health Care Information Technology Industrials Financials Consumer Discretionary Asset Allocation 16 EQUITY CASH & CASH EQUIVALENTS % 20% 40% 60% 80% 100% 120% 11,12,16. Information is historical and may not reflect current or future portfolio characteristics. Percentage may not equal 100% due to rounding. All holdings are subject to change. 13. Source for Index: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 14,15. Past performance is not an indicator or a guarantee of future performance. Information is historical and may not reflect current or future portfolio characteristics. All holdings are subject to change. Source: FactSet. Important data provider notices and terms available at Total Effect represents the excess return by sector as compared to the index. Performance attribution is calculated in the base currency of the fund. franklintempleton.com 4
5 Supplemental Performance Statistics Supplemental Risk Statistics 17,18 Class A 3 Yrs 5 Yrs 10 Yrs Standard Deviation (%) Tracking Error (%) Information Ratio Beta Sharpe Ratio Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. The fund s investment return and principal value will change with market conditions, and you may have a gain or a loss when you sell your shares. Please call Franklin Templeton Investments at (800) DIAL BEN/ or visit franklintempleton.com for the most recent month-end performance. Investment Philosophy The Franklin Equity Group philosophy holds that companies with the potential for long-term sustainable growth can provide significant opportunities for investors. Market participants can have a short-term perspective and may under appreciate the potential for value created by sustainable growth. We believe that we have the potential to deliver superior risk-adjusted returns by identifying companies with potential for sustainable growth which we believe is not reflected in current prices. Investment Process Within a collaborative environment, our team utilizes fundamental, bottom-up research to focus on companies that we believe have sustainable growth characteristics meeting our criteria of Growth, Quality and Valuation. Growth Quality Valuation Focus on companies with potential to produce Seek companies with strong and improving Consider a range of potential outcomes based on sustainable earnings and cash flow growth Evaluate the long-term market opportunity and competitive positions in attractive markets Identify experienced and talented management an assessment of multiple scenarios Evaluate whether, in our view, security prices fully competitive structure of the industry seeking to identify target leaders and emerging leaders teams as well as financial strength reflected in the capital structure, gross and operating margins, free cash flow generation, and returns on capital reflect the balance of the sustainable growth opportunities relative to the business and financial risks Investment Team Portfolio Manager Years with Firm Years Experience Serena Perin Vinton, CFA, Portfolio Manager John Anderson, Research Analyst 3 11 Robert Rendler, CFA, Research Analyst Additional Resources Franklin US Equity Team Glossary Beta: A measure of the magnitude of a portfolio s past share-price fluctuations in relation to the ups and downs of the overall market (or appropriate market index). The market (or index) is assigned a beta of 1.00, so a portfolio with a beta of 1.20 would have seen its share price rise or fall by 12% when the overall market rose or fell by 10%. Estimated 3-5 Year EPS Growth: An estimated measure of the growth of earnings per share over a forward-looking period. For a portfolio, the value represents a weighted average of the stocks it holds. Historical 3 Yr Sales Growth: The rate at which sales have increased for the fund s underlying holdings over the last three years. Information Ratio: In investing terminology, the ratio of expected return to risk. Usually, this statistical technique is used to measure a manager s performance against a benchmark. This measure explicitly relates the degree by which an investment has beaten the benchmark to the consistency by which the investment has beaten the benchmark. Market Capitalization: A determination of a company s value, calculated by multiplying the total number of company stock shares outstanding by the price per share. Market capitalization is expressed in millions of USD. Net Margin: The ratio of net profits to revenues for a company or business segment that shows how much of each dollar earned by the company is translated into profits. 17. Beta, Information Ratio and Tracking Error information are measured against the S&P 500 Index. 18. Information Ratio is a way to evaluate a manager s ability to outperform a benchmark in relation to the risk that manager is assuming, with risk defined as deviation from the benchmark. This measure is calculated by dividing the portfolio s excess return (portfolio return less the benchmark return) by the tracking error (derived by taking the standard deviation of the monthly differences between the portfolio return and the benchmark return over time). franklintempleton.com 5
6 Operating Margin: A measurement of what proportion of a company s revenue is left over after paying for variable costs of production such as wages, raw materials, etc. Price to Earnings (12-mo Trailing): The share price of a stock, divided by its per-share earnings over the past year. For a portfolio, the value represents a weighted average of the stocks it holds. Return on Equity: A measure of a corporation s profitability that reveals how much profit a company generates with the money shareholders have invested. For a portfolio, the value represents a weighted average of the stocks it holds. Sharpe Ratio: To calculate a Sharpe ratio, an asset s excess returns (its return in excess of the return generated by risk-free assets such as Treasury bills) are divided by the asset s standard deviation. Standard Deviation: A measure of the degree to which a fund s returns varies from the average of its previous returns. The larger the standard deviation, the greater the likelihood (and risk) that a fund s performance will fluctuate from the average return. Tracking Error: Measure of the deviation of the return of a fund compared to the return of a benchmark over a fixed period of time. Expressed as a percentage. The more passively the investment fund is managed, the smaller the tracking error. franklintempleton.com 6
7 What Are The Risks? All investments involve risks, including possible loss of principal. Historically, the fund has focused on larger companies. The fund may also invest in small, relatively new and/or unseasoned companies, which involves additional risks, as the price of these securities can be volatile, particularly over the short term. The fund may focus on particular sectors of the market from time to time, which can carry greater risks of adverse developments in such sectors. In addition, the fund may invest up to 40% of its net assets in stocks of foreign companies, which involve special risks, including currency fluctuations and economic as well as political uncertainty. These and other risks are described more fully in the fund s prospectus. Important Legal Information All investments involve risks, including possible loss of principal. Historically, the fund has focused on larger companies. The fund may also invest in small, relatively new and/or unseasoned companies, which involves additional risks, as the price of these securities can be volatile, particularly over the short term. The fund may focus on particular sectors of the market from time to time, which can carry greater risks of adverse developments in such sectors. In addition, the fund may invest up to 40% of its net assets in stocks of foreign companies, which involve special risks, including currency fluctuations and economic as well as political uncertainty. These and other risks are described more fully in the fund s prospectus. CFA and Chartered Financial Analyst are trademarks owned by CFA Institute. Standard & Poor s, S&P and S&P 500 are registered trademarks of Standard & Poor s Financial Services LLC. S&P does not sponsor, endorse, sell or promote and S&P index-based product. Important data provider notices and terms available at: Franklin Templeton Distributors, Inc. One Franklin Parkway San Mateo, CA (800) DIAL BEN/ franklintempleton.com 2018 Franklin Templeton Investments. All rights reserved. 106 PP 12/17
Franklin Select U.S. Equity Fund. Advisor Class
Franklin Select U.S. Equity Fund Advisor Class Blend Equity Product Profile Product Details 1 Fund Assets $91,842,807.55 Fund Inception Date 12/13/2007 Number of Issuers 49 NASDAQ Symbol FCEZX Maximum
More informationFranklin Growth Fund Advisor Class
Growth Equity Product Profile Product Details 1 Fund Assets $14,822,370,177.83 Fund Inception Date 03/31/1948 Number of Issuers 139 NASDAQ Symbol FCGAX Maximum Sales Charge 0.00 Investment Style Benchmark
More informationFranklin DynaTech Fund Class A, C
Growth Equity Product Profile Product Details 1 Fund Assets $5,878,724,776.43 Fund Inception Date 01/01/1968 Number of Issuers 134 Investment Style Benchmark Lipper Classification Morningstar Category
More informationFranklin Utilities Fund Class A, C
Utilities Equity Product Profile Product Details 1 Fund Assets $5,788,850,628.56 Fund Inception Date 09/30/1948 Number of Issuers 43 Investment Style Benchmark Lipper Classification Morningstar Category
More informationFranklin Biotechnology Discovery Fund Advisor Class
Franklin Discovery Fund Advisor Class Equity Product Profile Product Details 1 Fund Assets $1,391,510,431.86 Fund Inception Date 09/15/1997 Number of Issuers 91 NASDAQ Symbol FTDZX Maximum Sales Charge
More informationFranklin DynaTech Fund Advisor Class
Franklin DynaTech Fund Advisor Class Growth Equity Product Profile Product Details 1 Fund Assets $5,878,724,776.43 Fund Inception Date 01/01/1968 Number of Issuers 134 NASDAQ Symbol FDYZX Maximum Sales
More informationFranklin Utilities Fund Advisor Class
Utilities Equity Product Profile Product Details 1 Fund Assets $5,726,572,437.83 Fund Inception Date 09/30/1948 Number of Issuers 45 NASDAQ Symbol FRUAX Maximum Sales Charge Investment Style Benchmark
More informationFranklin DynaTech Fund Advisor Class
Franklin DynaTech Fund Advisor Class Growth Equity Product Profile Product Details 1 Fund Assets $6,808,135,350.20 Fund Inception Date 01/01/1968 Number of Issuers 136 NASDAQ Symbol FDYZX Maximum Sales
More informationTempleton China World Fund Advisor Class
Templeton China World Fund Advisor Class Equity Product Profile Product Details 1 Fund Assets $290,551,367.47 Fund Inception Date 09/08/1993 Number of Issuers 51 NASDAQ Symbol TACWX Maximum Sales Charge
More informationFranklin Corefolio Allocation Fund Class A, C
Franklin Corefolio Allocation Fund Class A, C Total Return Multi-Asset Product Profile Product Details Fund Assets $837,587,913.31 Fund Inception Date 08/15/2003 Investment Style Benchmark Lipper Classification
More informationFranklin Mutual Shares Fund Class A, C
Franklin Mutual Shares Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $14,621,479,257.66 Fund Inception Date 07/01/1949 Number of Issuers 98 Investment Style Benchmark Lipper
More informationFranklin Equity Income Fund Advisor Class
Franklin Equity Income Fund Advisor Class Value Equity Product Profile Product Details 1 Fund Assets $2,255,651,608.76 Fund Inception Date 03/15/1988 Number of Issuers 69 NASDAQ Symbol FEIFX Maximum Sales
More informationFranklin U.S. Focused Equity Composite
Franklin U.S. Composite Blend Equity Product Profile Product Details Strategy Assets $1,012,796,189.98 Inception Date 09/30/2007 Base Currency USD Investment Style Blend Overview Franklin U.S. aims to
More informationFranklin India Growth Fund Class A, C
Franklin India Growth Fund Class A, C Growth Equity Product Profile Product Details 1 Fund Assets $142,820,884.05 Fund Inception Date 01/31/2008 Number of Issuers 45 Investment Style Benchmark Lipper Classification
More informationFranklin Mutual European Fund Class A, C
Franklin Mutual European Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $2,137,388,947.56 Fund Inception Date 07/03/1996 Number of Issuers 53 Investment Style Benchmark Lipper
More informationFranklin Floating Rate Daily Access Fund Advisor Class
Franklin Floating Rate Daily Access Fund Advisor Class High Yield Fixed Income Product Profile Product Details 1 Fund Assets $3,639,447,605.70 Fund Inception Date 05/01/2001 Number of Securities 207 Including
More informationFranklin U.S. Small Cap Growth Equity Composite
Franklin U.S. Equity Composite Growth Equity Product Profile Product Details Strategy Assets $2,721,231,030.89 Inception Date 02/29/1992 Base Currency USD Investment Style Growth Overview Franklin seeks
More informationFranklin U.S. Rising Dividends Fund
Product Profile Product Details 1,2 Fund Assets $1,033,530,863.57 Fund Inception Date 11/24/2000 Number of Issuers 64 Base Currency Morningstar Category Distribution Frequency CAD US Equity Annually Inception
More informationFranklin Bissett Canadian Equity Fund
Product Profile Product Details Fund Assets $3,329,185,070.09 Fund Inception Date 03/01/1983 Base Currency Morningstar Category Distribution Frequency Risk Classification 1 Low Low to Medium Medium Medium
More informationFranklin All Cap Value Fund Class A
PRODUCT PROFILE FOURTH QUARTER 2011 FUND CHARACTERISTICS (AS OF 12/31/11) NASDAQ Symbol FRAVX Inception Date 6/1/07 Dividends Investment Style Lipper Classification Morningstar Category Total Net Assets
More informationAdvisor Class. Average Annual Total Returns 5 (%) 3 Mths YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs 20 Yrs (10/16/1991)
Templeton Developing Markets Trust Advisor Class Value Equity Product Profile Product Details 1 Fund Assets $1,420,822,800.04 Fund Inception Date 10/16/1991 Number of Issuers 94 NASDAQ Symbol TDADX Maximum
More informationFranklin High Income Fund Class A, C
High Yield Fixed Income Product Profile Product Details 1 Fund Assets $3,328,363,618.22 Fund Inception Date 12/31/1969 Number of Securities 261 Including Cash NASDAQ Symbol FHAIX Investment Style High
More informationFranklin ActiveQuant U.S. Corporate Class
Franklin ActiveQuant U.S. Corporate Class Product Profile Product Details 1 Fund Assets $87,816,321.02 Fund Inception Date 03/03/2008 Base Currency Morningstar Category Distribution Frequency CAD US Equity
More informationFranklin Mutual Beacon Fund Class A, C
Franklin Mutual Beacon Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $3,824,681,802.00 Fund Inception Date 06/29/1962 Number of Issuers 60 Investment Style Benchmark Lipper
More informationFranklin Rising Dividends Fund Class A, C
Franklin Rising Dividends Fund Class A, C Blend Equity Product Profile Product Details 1 Fund Assets $18,552,005,636.71 Fund Inception Date 01/14/1987 Number of Issuers 70 Investment Style Benchmark Lipper
More informationFranklin Bissett Small Cap Fund
Product Profile Product Details 1,2 Fund Assets $504,844,321.76 Fund Inception Date 08/30/1993 Number of Issuers 42 Base Currency CAD Morningstar Category - Distribution Frequency Annually Inception Date
More informationTempleton Emerging Markets Small Cap Fund Class A, C
Templeton Emerging Markets Small Cap Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $1,006,954,613.92 Fund Inception Date 10/02/2006 Number of Issuers 132 Investment Style Benchmark
More informationFranklin Bissett Canadian Equity Fund
Product Profile Product Details 1 Fund Assets $3,388,790,133.22 Fund Inception Date 03/01/1983 Base Currency Morningstar Category Distribution Frequency Fund Codes 2 Series Series F Series F ADM Series
More informationTempleton International Bond Fund. Class C
Templeton International Bond Fund Class A, C Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $360,795,665.52 Fund Inception Date 12/03/2007 Number of Securities 124 Including Cash
More informationFranklin Bissett Canadian Equity Fund
Product Profile Product Details Fund Assets $3,388,790,133.22 Fund Inception Date 03/01/1983 Base Currency Morningstar Category Distribution Frequency CAD Canadian Equity Annually Series Inception Date
More informationFranklin U.S. Rising Dividends Fund
Product Profile Product Details 1 Fund Assets $1,033,530,863.57 Fund Inception Date 11/24/2000 Number of Issuers 64 Base Currency Morningstar Category Distribution Frequency CAD US Equity Annually Fund
More informationFranklin Global Growth Corporate Class
Franklin Global Growth Corporate Class Product Profile Product Details 1,2 Fund Assets $31,316,918.86 Fund Inception Date 06/18/2001 Number of Issuers 36 Base Currency Morningstar Category Distribution
More informationTempleton Emerging Markets Bond Fund Advisor Class
Templeton Emerging Markets Bond Fund Advisor Class Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $34,588,372.19 Fund Inception Date 04/01/2013 Number of Securities 128 Including
More informationTempleton Global Stock Trust
Product Profile Product Details 1 Fund Assets $479,581,107.95 Fund Inception Date 09/15/1997 Number of Issuers 81 Base Currency CAD Benchmark Benchmark Currency CAD Distribution Frequency Annually Fund
More informationFranklin K2 Long Short Credit Fund. Advisor Class
Franklin K2 Long Short Credit Fund Advisor Class Multi Strategy Alternatives Product Profile Product Details Fund Assets $88,117,929.04 Fund Inception Date 09/08/2015 Investment Style Multi Strategy Benchmark
More informationFranklin Flexible Alpha Bond Fund. Advisor Class
Franklin Flexible Alpha Bond Fund Advisor Class Absolute Return Fixed Income Product Profile Product Details 1 Fund Assets $416,313,682.95 Fund Inception Date 08/03/2015 Number of 406 Including Cash NASDAQ
More informationTempleton Emerging Markets Fund
Product Profile Product Details 1 Fund Assets $267,096,563.10 Fund Inception Date 09/20/1991 Number of Issuers 82 Base Currency CAD Benchmark MSCI Emerging Markets Index Distribution Frequency Annually
More informationFranklin Real Estate Securities Fund. Advisor Class. Product Details 1. Fund Description. Performance Data 3,4. Portfolio Manager Insight 6
Franklin Real Estate Securities Fund Advisor Class Listed Securities Alternatives Product Profile Product Details 1 Fund Assets $343,921,524.55 Fund Inception Date 01/03/1994 Number of Issuers 51 NASDAQ
More informationFranklin Corefolio Allocation Fund. Class C
Franklin Corefolio Allocation Fund Class A, C Total Return Multi-Asset Product Profile Product Details Fund Assets $784,972,906.08 Fund Inception Date 08/15/2003 Investment Style Benchmark Lipper Classification
More informationTIF Emerging Markets Series
Equity Product Profile Product Details Fund Assets $57,261,320.21 Fund Inception Date 05/03/1993 Number of Issuers 94 Total Annual Operating 1.31% Expenses With Waiver Total Annual Operating 1.44% Expenses
More informationCompounded Returns for Periods Ended September 30, 2017 (%) Management Expense Ratio (as of 4/30/17 incl. HST) 2.45%
Templeton Growth Fund, Ltd. Series A Product Profile Third Quarter 2017 FUND CHARACTERISTICS (AS OF 9/30/17) Fund Inception Date 11/29/54 Distribution Frequency Annually Morningstar Category Global Equity
More informationFranklin Small Cap Value Fund. Advisor Class
Franklin Small Cap Value Fund Advisor Class Value Equity Product Profile Product Details 1 Fund Assets $2,648,115,800.70 Fund Inception Date 03/11/1996 Number of Issuers 151 NASDAQ Symbol Maximum Initial
More informationTempleton World Fund Advisor Class
Value Equity Product Profile Product Details 1 Fund Assets $3,495,780,335.23 Fund Inception Date 01/17/1978 Number of Issuers 81 NASDAQ Symbol TWDAX Maximum Sales Charge 0.00 Investment Style Benchmark
More informationFranklin U.S. Opportunities Fund A (acc) USD
Franklin U.S. Opportunities Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Growth Equity Product Details 1 Fund Assets $3,989,873,252.69 Fund Inception Date 03.04.2000 Number
More informationTempleton Emerging Markets Small Cap Fund Advisor Class
Templeton Emerging Markets Small Cap Fund Advisor Class Value Equity Product Profile Product Details 1 Fund Assets $1,088,378,620.46 Fund Inception Date 10/02/2006 Number of Issuers 136 NASDAQ Symbol TEMZX
More informationCompounded Returns for Periods Ended December 31, 2017 (%) Management Expense Ratio (as of 6/30/17 incl. HST) 2.28%
Franklin ActiveQuant Canadian Fund Series A Product Profile Fourth Quarter 2017 FUND CHARACTERISTICS (AS OF 12/31/17) Fund Inception Date 9/20/04 Morningstar Category Canadian Equity Total Net Assets All
More informationTempleton Global Currency Fund. Advisor Class
Templeton Global Currency Fund Advisor Class Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $35,781,321.47 Fund Inception Date 11/17/1989 Number of Holdings 33 NASDAQ Symbol ICHHX
More informationTempleton International Equity Trust
Product Profile First Quarter 2018 FUND CHARACTERISTICS (AS OF 3/31/18) Fund Inception Date 11/1/90 Distribution Frequency Annually Benchmark (CAD) Total Net Assets (CAD) $458 million Number of Issuers
More informationTempleton Emerging Markets Bond Fund Class A, C
Templeton Emerging Markets Bond Fund Class A, C Unconstrained Fixed Income Product Profile Product Details 1 Fund Assets $34,588,372.19 Fund Inception Date 04/01/2013 Number of Securities 128 Including
More informationFranklin Custodian Funds
Semiannual Report and Shareholder Letter March 31, 2018 Franklin Custodian Funds Franklin DynaTech Fund Franklin Growth Fund Franklin Income Fund Franklin U.S. Government Securities Fund Franklin Utilities
More informationEmerging Markets Equity. Franklin Templeton Investment Funds Templeton Asian Growth Fund - I (acc) USD. Data as of 31 August 2018
Emerging Markets Equity Data as of 31 August 2018 Franklin Templeton Investment Funds - I (acc) USD Table of Contents Summary...3 What are the Key Risks?...4 Discrete Performance... 5 Historical Performance...6
More informationTempleton Global Fund A (Ydis) USD
Templeton Global Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $980028010.65 Fund Inception Date 28/02/1991 Number of Issuers 76 Bloomberg
More informationTempleton BRIC Fund A (acc) USD
Franklin Templeton Investment Funds Value Equity Fund Manager Report Product Details 1 Fund Assets $906480749.69 Fund Inception Date 25/10/2005 Number of Issuers 49 Bloomberg ISIN Base Currency Investment
More informationFranklin India Growth Fund Advisor Class
Franklin India Growth Fund Advisor Class Growth Equity Product Profile Product Details 1 Fund Assets $165,344,393.61 Fund Inception Date 01/31/2008 Number of Issuers 49 NASDAQ Symbol FIGZX Maximum Sales
More informationTempleton China Fund A (acc) USD
Franklin Templeton Investment Funds Value Equity Fund Manager Report Product Details 1 Fund Assets $581,186,801.52 Fund Inception Date 01/09/1994 Number of Issuers 52 Bloomberg ISIN Base Currency Investment
More informationFranklin NextStep Funds
Franklin NextStep Funds June 30, 2016 MONTHLY PORTFOLIO UPDATE The Simple Way to Invest: Franklin NextStep Funds Simplicity All-in-one portfolios matched to three levels of risk. Diversification A broad
More informationFranklin Biotechnology Discovery Fund A (acc) USD
Franklin Discovery Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Equity Product Details 1 Fund Assets $2,026,977,439.38 Fund Inception Date 03/04/2000 Number of Issuers 96 Bloomberg
More informationFranklin MidCap Value Fund Advisor Class
Franklin MidCap Value Fund Advisor Class Value Equity Product Profile Product Details 1 Fund Assets $184,924,453.16 Fund Inception Date 07/01/2005 Number of Issuers 111 NASDAQ Symbol FMVZX Maximum Sales
More informationComposite. Average Annual Total Returns (USD %) 1. Franklin Mutual Global Discovery Composite - NET MSCI World Index. Calendar Year Returns (USD %)
Franklin Mutual Global Discovery Composite Value Equity Product Profile Product Details Strategy Assets $20,993,884,798.09 Inception Date 12/31/2009 Base Currency USD Investment Style Value Overview The
More informationTempleton Global ADR Equity SMA Composite
Templeton Global ADR Equity SMA Composite Templeton Separately Managed Accounts Product Profile Value Equity Product Details 1 Inception Date 11/30/1999 Benchmark MSCI World Index, MSCI All Country World
More informationFranklin Mutual Global Discovery Fund
Product Profile Product Details 1,2 Fund Assets $775,680,191.43 Fund Inception Date 02/17/2003 Number of Issuers 92 Base Currency Morningstar Category Distribution Frequency CAD Global Equity Annually
More informationTempleton Asian Growth Fund A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4472298470.36 Fund Inception Date 16/04/1991 Number of Issuers
More informationTempleton Asian Smaller Companies Fund A (acc) USD
Templeton Asian Smaller Companies Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $1484994629.55 Fund Inception Date 14/10/2008 Number
More informationTempleton Frontier Markets Fund A (acc) USD
Templeton Frontier Markets Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $667,573,342.18 Fund Inception Date 14/10/2008 Number of Issuers
More informationFranklin Mutual Shares Fund Class Z
Value Equity Product Profile Product Details 1 Fund Assets $14,657,738,868.62 Fund Inception Date 07/01/1949 Number of Issuers 100 NASDAQ Symbol MUTHX Maximum Sales Charge Investment Style Benchmark Lipper
More informationFranklin Emerging Market Debt Opportunities Fund Advisor Class
Franklin Emerging Market Debt Opportunities Fund Advisor Class Unconstrained Fixed Income Product Profile Product Details Fund Assets $524,491,236.03 Fund Inception Date 05/24/2006 Number of Securities
More informationFranklin European Small-Mid Cap Growth Fund A (acc) EUR
Franklin European Small-Mid Cap Growth Fund A (acc) EUR Franklin Templeton Investment Funds Fund Manager Report Growth Equity Product Details 1 Fund Assets 465,083,303.95 Fund Inception Date 03/12/2001
More informationTempleton BRIC Fund A (acc) USD
Franklin Templeton Investment Funds Value Equity Fund Manager Report Product Details 1 Fund Assets $618949749.64 Fund Inception Date 25/10/2005 Number of Issuers 52 Bloomberg ISIN Base Currency Investment
More informationA (Ydis) USD. Franklin Templeton Investment Funds. Fund Manager Report. Calendar Year Returns (%) Portfolio Manager Insight
Templeton Emerging Markets Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $965,180,399.67 Fund Inception Date 28/02/1991 Number of
More informationTempleton Latin America Fund A (Ydis) USD
Templeton Latin America Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Blend Equity Product Details 1 Fund Assets $1,076,825,961.83 Fund Inception Date 28/02/1991 Number of Issuers
More informationTempleton Growth (Euro) Fund A (acc) EUR
Templeton Growth (Euro) Fund A (acc) EUR Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details Fund Assets 7,183,194,265.20 Fund Inception Date 09/08/2000 Number of Issuers
More informationFranklin EAFE Plus Equity Composite
Growth Equity Product Profile Product Details 1 Strategy Assets $2,074,588,896.13 Inception Date 12/31/1987 Base Currency USD Investment Style Growth Overview We focus on fundamental bottom-up stock analysis
More informationTempleton Latin America Fund A (Ydis) USD
Templeton Latin America Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $1,050,576,208.81 Fund Inception Date 28/02/1991 Number of Issuers
More informationTempleton BRIC Fund A (acc) USD
Franklin Templeton Investment Funds Value Equity Fund Manager Report Product Details 1 Fund Assets $832,597,433.81 Fund Inception Date 25/10/2005 Number of Issuers 50 Bloomberg ISIN Base Currency Investment
More informationTempleton Asian Growth Fund A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4,472,298,470.36 Fund Inception Date 04/16/1991 Number of Issuers
More informationPortfolio Manager Insight
Growth Equity Product Profile Product Details Strategy Assets $4,064,420,195.71 Inception Date 11/30/2005 Base Currency USD Investment Style Growth Overview We seek to capture the growth potential of India
More informationJPMorgan Funds statistics report: Large Cap Growth Fund
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE JPMorgan Funds statistics report: Large Cap Growth Fund jpmorganfunds.com Table of contents PERFORMANCE ATTRIBUTION Performance at NAV 3 Performance attribution
More informationFranklin Templeton Investment Funds Franklin U.S. Equity Fund. Fund Manager Report
Franklin Templeton Investment Funds Franklin U.S. Equity Fund Equity LU0098860363 Fund Manager Report Fund Characteristics Base Currency USD Net Assets (USD) 581,420,716 Fund Inception Date 01.07.1999
More informationFranklin MENA Fund A (acc) USD
Franklin Templeton Investment Funds Growth Equity Fund Manager Report Product Details 1 Fund Assets $97,294,995.20 Fund Inception Date 16/06/2008 Number of Issuers 46 Bloomberg ISIN Base Currency Investment
More informationFranklin Bissett Canadian Dividend Fund
Franklin Bissett Canadian Dividend Fund Product Profile Product Details Fund Assets $592,666,621.04 Fund Inception Date 12/22/2003 Base Currency Morningstar Category Distribution Frequency Fund Codes 1
More informationTempleton Asian Growth Fund A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4,472,298,470.36 Fund Inception Date 16/04/1991 Number of Issuers
More informationFranklin K2 Alternative Strategies Fund Advisor Class
Franklin K2 Alternative Strategies Fund Advisor Class Multi Strategy Alternatives Product Profile Product Details 1 Fund Assets $1,127,348,037.90 Fund Inception Date 10/11/2013 Number of Securities 1567
More informationTempleton Asian Growth Fund A. A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4,711,861,226.99 Fund Inception Date 04/16/1991 Number of Issuers
More informationFranklin Natural Resources Fund A (acc) USD
Franklin Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Equity Product Details 1 Fund Assets $322,204,373.77 Fund Inception Date 12/07/2007 Number of Issuers 88 Bloomberg ISIN
More informationFranklin MENA Fund A (acc) USD
Franklin Templeton Investment Funds Growth Equity Fund Manager Report Product Details 1 Fund Assets $97294995.20 Fund Inception Date 16/06/2008 Number of Issuers 46 Bloomberg ISIN Base Currency Investment
More informationFranklin Convertible Securities Fund Advisor Class
Franklin Convertible Securities Fund Advisor Class Multi-Asset Product Profile Product Details 1 Fund Assets $2,653,715,360.30 Fund Inception Date 04/15/1987 Number of Issuers 72 NASDAQ Symbol FCSZX Maximum
More informationFranklin Founding Funds Allocation Fund Class A, C
Franklin Founding Funds Allocation Fund Class A, C Total Return Multi-Asset Product Profile Product Details Fund Assets $4,746,754,146.55 Fund Inception Date 08/15/2003 Base Currency Investment Style USD
More informationTempleton Asian Growth Fund A. A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4,926,477,664.82 Fund Inception Date 04/16/1991 Number of Issuers
More informationTempleton Eastern Europe Fund A. A (acc) EUR
Templeton Eastern Europe Fund A (acc) EUR Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets 326615602.78 Fund Inception Date 10/11/1997 Number of Issuers
More informationFidelity 500 Index Fund
QUARTERLY FUND REVIEW AS OF SEPTEMBER 30, 2017 Fidelity 500 Index Fund Investment Approach Fidelity 500 Index Fund is a diversified domestic large-cap equity strategy that seeks to closely track the returns
More informationTempleton Growth Fund, Ltd.
Product Profile Product Details 1,2 Fund Assets $1,505,713,043.43 Fund Inception Date 11/29/1954 Number of Issuers 92 Base Currency Morningstar Category Distribution Frequency Risk Classification 3 Low
More informationTempleton BRIC Fund A (acc) USD
Franklin Templeton Investment Funds Value Equity Fund Manager Report Product Details 1 Fund Assets $677,114,757.61 Fund Inception Date 25.10.2005 Number of Issuers 51 Bloomberg ISIN Base Currency Investment
More informationSemi-Annual Management Report of Fund Performance
June 30, 2018 Semi-Annual Management Report of Fund Performance This semi-annual management report of fund performance contains financial highlights but does not contain the complete financial statements
More informationFidelity Total Market Index Fund
QUARTERLY FUND REVIEW AS OF SEPTEMBER 30, 2017 Fidelity Total Market Index Fund Investment Approach Fidelity Total Market Index Fund is a diversified domestic all-cap equity strategy that seeks to closely
More informationFranklin Mutual Beacon Fund Class Z
Value Equity Product Profile Product Details 1 Fund Assets $3,849,216,767.95 Fund Inception Date 06/29/1962 Number of Issuers 58 NASDAQ Symbol Maximum Initial Sales Charge Investment Style Benchmark Lipper
More informationFranklin MENA Fund A (acc) USD
Franklin Templeton Investment Funds Growth Equity Fund Manager Report Product Details 1 Fund Assets $97.294.995,20 Fund Inception Date 16.06.2008 Number of Issuers 46 Bloomberg ISIN Base Currency Investment
More informationTempleton Latin America Fund A (Ydis) USD
Templeton Latin America Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $969558829.19 Fund Inception Date 28/02/1991 Number of Issuers
More informationFranklin Balance Sheet Investment Fund Class A, C
Franklin Balance Sheet Investment Fund Class A, C Value Equity Product Profile Product Details 1 Fund Assets $958,595,570.25 Fund Inception Date 04/02/1990 Number of Issuers 66 Investment Style Benchmark
More informationTempleton Africa Fund A (acc) USD
Franklin Templeton Investment Funds Value Equity Fund Manager Report Product Details 1 Fund Assets $68,086,079.02 Fund Inception Date 04/05/2012 Number of Issuers 30 Bloomberg FTAFAAU LX ISIN LU0727123662
More informationFranklin Templeton Investment Funds Franklin Japan Fund. Fund Manager Report
Franklin Templeton Investment Funds Franklin Japan Fund Equity LU0116920520 Fund Manager Report Fund Characteristics Base Currency JPY Total Net Assets (JPY) 25,467,566,917 Fund Inception Date 01.09.2000
More information