Franklin Brazil Opportunities Fund
|
|
- Horace Brown
- 6 years ago
- Views:
Transcription
1 Franklin Templeton Investment Funds Franklin Brazil Opportunities Fund Multi-Asset Fund Profile Fund Details Inception Date 27 July 2012 Investment Style Benchmark(s) Multi-Asset 40% JP Morgan EMBI Brazil Plus Index 40% IRF-M (Indice de Renda Fixe Mercado) Index 1 Hedged to USD 20% MSCI Brazil Index FUND OBJECTIVE Franklin Brazil Opportunities Fund (the Fund ) seeks to maximise, consistent with prudent investment management, total investment return consisting of a combination of capital appreciation, income, cash and currency gains by investing across the entire range of available investment opportunities linked to Brazil. The Fund seeks to achieve its objective by investing directly or indirectly in a diversified portfolio of transferable securities linked to Brazil consisting of equity and equity related securities of companies of any size as well as debt securities (including non-investment grade securities) and debt obligations issued by government or government-related issuers, as well as debt securities (including non-investment grade securities) of corporate issuers. The Fund may also utilise financial derivative instruments for investment purposes. The proportion of the Fund s net assets allocated to equity or debt securities may vary over time depending on the Investment Manager s view of the relative attractiveness of each asset class. WHY CONSIDER THIS FUND Multi-asset ( multimercado ) strategies have a long history in the Brazilian market. Brazil s unique and dynamic financial markets offer opportunities for active managers to uncover investments with attractive risk/return profiles regardless of overall market and business cycle conditions. Multi-asset strategies, known as multimercado in Brazil, which seek to take advantage of these fundamentals, represent a significant portion of Brazil s domestic mutual fund and institutional investor assets. By offering a benchmark-agnostic multi-asset strategy investing in Brazil, this Fund was the first of its type in the cross-border space. Capitalize on the breadth and growth of Brazil s investment opportunities in multiple asset classes. With favourable demographics, led by a young and growing population, rising income levels and an expanding middle class, a framework for increased domestic consumption and attractive long-term growth is solidly in place. The portfolio management team focuses on maximizing a combination of capital appreciation, income and currency gains by actively allocating the portfolio across the entire range of available Brazilian investment opportunities. This approach is driven by a strategy seeking high, sustainable alpha in all market conditions through both strategic and tactical asset allocation processes. Combining local expertise with global organizational resources. Established in 1997, Franklin Templeton Brazil has extensive experience managing Brazilian equity, fixed income and multi-asset class products, with dedicated experts for different markets and asset classes. 2 Today, as one of the Franklin Templeton Investments Local Asset Management ( LAM ) Group teams, they have access to the deep resources and global presence of the broader Franklin Templeton Investments organisation. 1. Market cap index of Brazilian fixed rated bonds. 2. Franklin Templeton Investments and Banco Bradesco, one of Brazil s largest private sector banks, established a joint venture relationships in For Professional Investor Use Only. Not for Distribution to Retail Investors.
2 INVESTMENT PHILOSOPHY & PROCESS We believe a flexible multi-asset class strategy can achieve significant long-term total returns in the Brazilian market. Actively managing the Fund through the lens of multiple research perspectives, we seek to identify and isolate the intended sources of alpha to build a diversified portfolio of high conviction positions that are attractive relative to cash. The Fund s portfolio managers take a research-driven approach that taps the expertise of dedicated on-the-ground research analysts collaborating with the broader Franklin Templeton Investments equity and fixed income organizations to provide in-depth industry, sector and security research. Potential Sources of Alpha: The portfolio managers aim to minimise volatility and maintain consistent returns independent of the market environment and across market cycles. The portfolio management style relies on both bottom-up analysis that drives the security selection process as well as top-down macroeconomic analysis that drives asset allocation and positioning within interest rate, currency and inflation-linked securities markets in order to provide exposure to the following main sources of alpha: All investments are evaluated relative to cash, and high conviction positions are taken only when the portfolio managers believe the investment will generate absolute return (in excess of cash). The asset allocation process starts with: Alternative economic scenarios being projected, each one being assigned a certain probability and a number of characteristics. These scenarios are based on our internal economic analysis. Probabilities of the alternative scenarios are then discussed until consensus is reached. Relevant economic variables, including inflation, interest rate curves and sovereign spread are estimated under each of the alternative scenarios. These variables help us to establish the expected returns of each asset class. Risk is calculated considering alternative estimates and probability. Other estimates of asset class returns are also utilised as a means of comparison. These include a bottom-up estimate for the upside of each market (based on the target prices for each individual asset), pricing ratio analysis, money flow coverage and secular trend analysis. PORTFOLIO CONSTRUCTION The Fund draws on the local expertise of Franklin Templeton Brazilian Equity and Fixed Income Teams. The portfolio managers are supported by a local team of investment professionals, as well as the Local Asset Management Group and Global Fixed Income Team. The Fund is managed by Guilherme Paris, and Frederico Sampaio, Brazil s Equity Chief Investment Officer. Local Asset Management refers to the strategic investments that Franklin Templeton Investments has made in local asset management companies around the world in order to leverage the expertise of well-qualified investment and financial services professionals who have first-hand knowledge of their domestic markets. Franklin Templeton Investments Equity Team The equity allocation is managed by the equity team in a benchmark agnostic style that allows significant deviation from the stated equity benchmarks. The team believes this is the most prudent approach from a total return perspective given the heavy concentration of the Brazilian equity indexes in commodity-related sectors. The Franklin Templeton Investments Brazilian Equity Team follows a fundamental approach based on a research-driven, bottom-up process focusing on companies across all market capitalizations. For Professional Investor Use Only. Not for Distribution to Retail Investors. 2
3 They seek to identify companies with superior growth potential that are trading at what they believe to be reasonable price levels (defined as margin of safety). They remain flexible in terms of the portfolio s market capitalisation and liquidity profile in an effort to maintain consistent outperformance in all market environments. The goal is to provide the portfolio managers a framework to make targeted equity investments. Franklin Templeton Investments Fixed Income Team The fixed income allocation is actively managed by the fixed income team based on various analyses on duration and convexity of the Brazilian yield curve, as well as currency risk. The Franklin Templeton Investments Brazilian Fixed Income Team follows a long-term value strategy that seeks to identify asymmetrical investment positions, where the skew assists in identifying potential opportunities. Their investment philosophy combines macro fundamental research to identify medium/long term trends and bottom up research with a focus on pricing/valuation. To protect the portfolios at a predetermined or relatively low cost, the Fund seeks to broaden the number of active uncorrelated positions to improve diversification and to identify alternative positions. Equity and Fixed Income Teams Working Together The portfolio managers take a total, absolute-return approach to provide higher risk-adjusted return potential compared to traditional stock, bond and cash portfolios. The six main sources of alpha, as described above, are evaluated and the desired risk exposure and high conviction positions are identified and isolated. Positions are taken only when they are attractive relative to cash. Absolute and relative issuer and sector weightings are closely monitored to ensure that the portfolio is structured to generate the best possible risk adjusted returns. The firm s risk management team, Performance Analysis and Investment Risk (PAIR) Group, work closely with portfolio managers on risk analysis and portfolio attribution. Additionally, issue size and expected trading liquidity are evaluated. Bond ratings are considered, but the investment decisions are based primarily on in-house, fundamental research. Sell Discipline There is a continual assessment of opportunities in light of their return potential and portfolio risk impact. Portfolio managers will seek to sell a security if there has been a negative fundamental development that changes their view of the appropriate valuation or causes the team s analysts to revise their investment opinion, if the security has moved beyond the established fair value target, or if the team s views on macroeconomic or sector trends or valuations have changed. In addition, the portfolio managers may sell an asset that still meets their buy criteria if another asset becomes available in the new issue or secondary market that they believe has better return potential or improves the portfolio s risk profile. Collaborate Investment Process Portfolio Construction For Professional Investor Use Only. Not for Distribution to Retail Investors. 3
4 RISK MANAGEMENT The Fund leverages the depth and experience of Franklin Templeton Investments Performance Analysis and Investment Risk (PAIR) Group, which works separately from the portfolio management function, monitoring investment risk for all portfolios managed by the firm. PAIR seeks to integrate investment risk management into the portfolio construction process and continues to improve on detailed decomposition of various risk factors that the portfolios may be exposed to. Through the use of various risk systems, the PAIR Group measures the active risk or tracking error of the portfolio versus the benchmark, identifies the sources of active risk (i.e., country, sector or style differences) and determines which specific issues are the largest contributors to active risk. The Fund s specific investment guidelines and requirements that are set forth by the board of directors of Franklin Templeton Investment Funds (FTIF) and reviewed on a quarterly basis to ensure that the risk management process is adhered to: Asset Classes The Fund primarily invests in Brazilian equity and equityrelated securities of companies of any market capitalisation as well as Brazilian debt and debt-related securities issued by government, government-related and/or corporate entities. Currency Policy There are no constant hedge ratios for the Fund. Currency is an important consideration at the security level for both equity and fixed income. Futures and other derivatives may be used for hedging purposes, as well as for expressing positive and negative currency views. Country/Regional Limit The Fund focuses specifically on the Brazilian equity, fixed income and currency markets. Cash Policy Portfolio managers intend to remain close to fully invested at all times. Reported cash and cash equivalent numbers may exceed 10% in extraordinary periods. Derivatives Financial derivative instruments may be dealt either in regulated markets or over- the-counter, and may include, inter alia, swaps (such as credit default swaps or total return swaps), forwards and cross forwards, futures contracts (including those on government securities), as well as options. Use of financial derivatives may result in negative exposures in a specific yield curve/duration, currency, or credit. In addition to Fund specific constraint and position limits, risk management is integrated into every aspect of the Fund s investment process. PORTFOLIO MANAGEMENT TEAM The Fund is managed by Guilherme Paris and Frederico Sampaio. Guilherme Paris Vice President, Portfolio Manager - Fixed Income Franklin Local Asset Management Franklin Templeton Investi (Brasil) Ltda. Sao Paulo, Brasil Guilherme Paris, based in Sao Paulo, Brazil, a fixed income portfolio manager with Franklin Templeton Investimentos Brasil. Mr. Paris previously worked as a market risk intern at Dresdner Kleinwort Wasserstein and as a FX volatility trader at Neo Investimentos, where he was responsible for contributing to the funds' performance, both with directional trades of volatility as well as with relative value trades involving more than one currency. Mr. Paris holds a B.S. in mechanical engineering, with an emphasis in mechatronics from Universidade de Sao Paulo (Poli-USP) where he was the top ranked student in his class. He is a Chartered Financial Analyst (CFA) Charterholder. Frederico Sampaio, CFA Vice President Brazilian Equity - CIO Sao Paulo, Brazil Frederico Sampaio, based in Sao Paulo, Brazil, is vice president and Brazilian Equity chief investment officer. He is responsible for the domestic equity funds and also Brazilrelated funds and institutional accounts distributed outside of Brazil. Mr. Sampaio has 15 years of Brazilian capital markets experience. Previously, he was portfolio manager at Rio Bravo Investimentos and at Fundacao Petros, the pension fund of Petrobras, the Brazilian national oil company. Mr. Sampaio has also worked as economist at Bank of America Asset Management in Brazil. For Professional Investor Use Only. Not for Distribution to Retail Investors. 4
5 This document is intended to be of general interest only and does not constitute legal or tax advice nor is it an offer for shares or invitation to apply for shares of any of the Luxembourgdomiciled SICAV Franklin Templeton Investment Funds (the Fund ). Given the rapidly changing market environment, Franklin Templeton Investments disclaims responsibility for updating this material. Subscriptions to shares of the Fund can only be made on the basis of the current prospectus of the Fund, accompanied by the latest available audited annual report and the latest semi-annual report if published thereafter. An investment in the Fund entails risks which are described in the Fund's prospectus. The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Past performance is not an indicator or a guarantee of future performance. Currency fluctuations may affect the value of overseas investments. When investing in a fund denominated in a foreign currency, your performance may also be affected by currency fluctuations. In emerging markets, the risks can be greater than in developed markets. Investments in derivative instruments entail specific risks that may increase the risk profile of the fund and are more fully described in the Fund s prospectus. If the fund invests in a specific sector or geographical area, the returns may be more volatile than a more diversified fund. No shares of the Fund may be directly or indirectly offered or sold to residents of the United States of America. Shares of the Fund are not available for distribution in all jurisdictions and prospective investors should confirm availability with their local Franklin Templeton Investments representative before making any plans to invest. Opinions expressed are the author s at publication date and they are subject to change without prior notice. Any research and analysis contained in this document has been procured by Franklin Templeton Investments for its own purposes and is provided to you only incidentally. A copy of the latest prospectus, the annual report and semi-annual report, if published thereafter can be found on our website: or can be obtained, free of charge, from the address below. Issued by Franklin Templeton Investments (ME) Limited, authorized and regulated by the Dubai Financial Services Authority. Dubai office: Franklin Templeton Investments, The Gate, East Wing, Level 2, Dubai International Financial Centre, P.O. Box , Dubai, U.A.E., Tel.: Fax: For Professional Investor Use Only. Not for Distribution to Retail Investors. DE Franklin Templeton Investments. All rights reserved.
Franklin Templeton Investment Funds Franklin Templeton Global Allocation Fund
Franklin Templeton Investment Funds Franklin Templeton Global Allocation Fund Fund Details Inception Date 29 July 2011 Investment Style Benchmark(s) Asset Allocation 50% MSCI All Country World Index 35%
More informationFranklin Global Government Bond Fund
Franklin Templeton Investment Funds Franklin Global Government Bond Fund Fixed Income Fund Profile Fund Details Inception Date 06 September 2013 Investment Style Benchmark(s) Fixed Income Citigroup World
More informationTempleton Emerging Markets Smaller Companies Fund
Franklin Templeton Investment Funds Templeton Emerging Markets Smaller Companies Fund Core Value Fund Profile Fund Details Inception Date 18 October 2007 Investment Style Benchmark(s) Core Value MSCI Emerging
More informationFranklin Global Fundamental Strategies Fund
Franklin Templeton Investment Funds Franklin Global Fundamental Strategies Fund Asset Allocation Fund Profile Fund Details Inception Date 25 October 2007 Investment Style Benchmark(s) Asset Allocation
More informationFranklin European Growth Fund
Franklin Templeton Investment Funds Franklin European Growth Fund Flex-Cap Growth Fund Profile Fund Details Inception Date 29 December 2000 Investment Style Flex-Cap Growth Benchmark(s) MSCI Europe Index
More informationTempleton Global Bond (Euro) Fund
Franklin Templeton Investment Funds Templeton Global Bond (Euro) Fund Fixed Income Fund Profile Fund Details Inception Date 29 August 2003 Investment Style Benchmark(s) Fixed Income JP Morgan Global Government
More informationFranklin GCC Bond Fund
Franklin Templeton Investment Funds Franklin GCC Bond Fund Fixed Income Fund Profile Fund Details Inception Date 30 August 2013 Investment Style Benchmark(s) Fixed Income Citigroup MENA Broad Index GCC
More informationFranklin Global Fundamental Strategies Fund
Franklin Templeton Investment Funds Franklin Global Fundamental Strategies Fund Asset Allocation Fund Profile Fund Details Inception Date 25 October 2007 Investment Style Benchmark(s) Asset Allocation
More informationTempleton Emerging Markets Bond Fund
Franklin Templeton Investment Funds Templeton Emerging Markets Bond Fund Fixed Income Fund Profile Fund Details Inception Date 5 July 1991 Investment Style Benchmark(s) Fixed Income JP Morgan EMBI Global
More informationFranklin Asia Credit Fund
Franklin Templeton Investment Funds Franklin Asia Credit Fund Fixed Income Fund Profile Fund Details Inception Date 17 November 2014 Investment Style Benchmark(s) Fixed Income JP Morgan Asia Credit Index
More informationFranklin Global Sukuk Fund
Franklin Templeton Shariah Funds Franklin Global Sukuk Fund Fixed Income Fund Profile Fund Details Inception Date 10 September 2012 Investment Style Benchmark(s) Fixed Income Dow Jones Sukuk (USD) Index
More informationFranklin European Dividend Fund
Franklin Templeton Investment Funds Franklin European Dividend Fund Flex-Cap Blend Fund Profile Fund Details Inception Date 29 July 2011 Investment Style Flex-Cap Blend Benchmark(s) MSCI Europe Index Fund
More informationFranklin Mutual European Fund
Franklin Templeton Investment Funds Franklin Mutual European Fund Deep Value Fund Profile Fund Details Inception Date 3 April 2000 Investment Style Benchmark(s) Deep Value MSCI Europe NETR (Price with
More informationTempleton China Fund
Franklin Templeton Investment Funds Templeton China Fund Core Value Fund Profile Fund Details Inception Date 1 September 1994 Investment Style Benchmark(s) Core Value MSCI Golden Dragon Index FUND OBJECTIVE
More informationTempleton Emerging Markets Fund
Franklin Templeton Investment Funds Templeton Emerging Markets Fund Core Value Fund Profile Fund Details Inception Date 28 February 1991 Investment Style Benchmark(s) Core Value MSCI Emerging Markets Index
More informationFranklin European Growth Fund
Franklin Templeton Investment Funds Franklin European Growth Fund Flex-Cap Growth Fund Profile Fund Details Inception Date 29 December 2000 Investment Style Flex-Cap Growth Benchmark(s) MSCI Europe Index
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 informationFranklin K2 Alternative Strategies Fund
Franklin Templeton Investment Funds Franklin K2 Alternative Strategies Fund Alternatives Fund Profile Fund Details Inception Date 15 September 2014 Investment Style Alternatives Benchmark(s) 1 ICE BofAML
More informationTempleton Emerging Markets Balanced Fund
Franklin Templeton Investment Funds Templeton Emerging Markets Balanced Fund Balanced Fund Profile Fund Details Inception Date 29 April 2011 Investment Style Benchmark(s) Balanced Custom 50% MSCI EM Index
More informationFranklin European Growth Fund
Franklin Templeton Investment Funds Franklin European Growth Fund Flex-Cap Growth Fund Profile Fund Details Inception Date 29 December 2000 Investment Style Flex-Cap Growth Benchmark(s) MSCI Europe Index
More informationTempleton Asian Growth Fund
Franklin Templeton Investment Funds Templeton Asian Growth Fund Core Value Fund Profile Fund Details Inception Date 30 June 1991 Investment Style Benchmark(s) Core Value MSCI All Country Asia ex Japan
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 informationFranklin Gold and Precious Metals Fund A (acc) USD
Franklin Gold and Precious Metals Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Precious Metals Equity Product Details 1 Fund Assets $207,885,393.53 Fund Inception Date 30/04/2010
More informationTempleton Africa Fund
Franklin Templeton Investment Funds Templeton Africa Fund Core Value Fund Profile Fund Details Inception Date 4 May 2012 Investment Style Benchmark(s) Core Value Dow Jones Titans Africa 50 Index FUND OBJECTIVE
More informationFranklin European Growth Fund
Franklin Templeton Investment Funds Franklin European Growth Fund Flex-Cap Growth Fund Profile Fund Details Inception Date 29 December 2000 Investment Style Flex-Cap Growth Benchmark(s) MSCI Europe Index
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 informationTempleton Frontier Markets Fund
Franklin Templeton Investment Funds Templeton Frontier Markets Fund Core Value Fund Profile Fund Details Inception Date 14 October 2008 Investment Style Benchmark(s) Core Value MSCI Frontier Emerging Markets
More informationFranklin Global Sukuk Fund
Franklin Templeton Shariah Funds Franklin Global Sukuk Fund Fixed Income Fund Profile Fund Details Inception Date 10 September 2012 Investment Style Benchmark(s) Fixed Income Dow Jones Sukuk (USD) Index
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 informationFranklin European Small Mid Cap Growth Fund
Franklin Templeton Investment Funds Franklin European Small Mid Cap Growth Fund Core Growth Fund Profile Fund Details Inception Date 3 December 2001 Investment Style Benchmark(s) Core Growth MSCI Europe
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 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 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 informationTempleton Emerging Markets Bond Fund A (Qdis) USD
Templeton Emerging Markets Bond Fund A (Qdis) USD Franklin Templeton Investment Funds Fund Manager Report Unconstrained Fixed Income Product Details 1 Fund Assets $9,366,982,200.49 Fund Inception Date
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 Gold and Precious Metals Fund A (acc) USD
Franklin Gold and Precious Metals Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Precious Metals Equity Product Details 1 Fund Assets $228,490,147.50 Fund Inception Date 30/04/2010
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 informationInformation Memorandum
03 July 2017 Information Memorandum Franklin Templeton s Australia Limited (ABN 87 006 972 247, AFS Licence number 225328) TABLE OF CONTENTS 1. FUND STRUCTURE 2 2. INVESTMENT PROFILE OF THE FUNDS 2 3.
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 High Yield Fund A (Mdis) USD
Franklin High Yield Fund A (Mdis) USD Franklin Templeton Investment Funds Fund Manager Report High Yield Fixed Income Product Details 1 Fund Assets $1,816,584,912.58 Fund Inception Date 01/03/1996 Number
More informationFranklin GCC Bond Fund - I(acc) USD. Franklin Templeton Investment Funds Franklin GCC Bond Fund - I(acc) USD FRANKLIN TEMPLETON INVESTMENTS
- I(acc) USD Franklin Templeton Investment Funds - I(acc) USD Data as of 30 September 2013 Source for data and information provided by Franklin Templeton Investments, as of the date of this presentation,
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 informationGlobal Multi-Sector (GMS) Strategy
Global Multi-Sector (GMS) Strategy In today s volatile environment, the ability to allocate tactically across global markets is of ever increasing importance. Many investors may be looking to draw on a
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 Global Balanced Fund
Franklin Templeton Investment Funds Templeton Global Balanced Fund Balanced Fund Profile Fund Details Inception Date 1 June 1994 Investment Style Benchmark(s) Balanced Blended 65% MSCI All Country World
More informationProduct Profile. Performance Data. Average Annual Total Returns (USD %) 2,
Unconstrained Fixed Income Product Profile Product Details Composite Assets $612,308,518.31 Inception Date 30/11/2005 Base Currency USD Investment Style Unconstrained Overview 1 High alpha-seeking regional
More informationFranklin Templeton Investment Funds Templeton Africa Fund
Franklin Templeton Investment Funds Templeton Africa Fund Equity LU0727123662 30 September 2017 Fund Manager Report Fund Characteristics Base Currency USD Total Net Assets (USD) 80,657,349 Fund Inception
More informationFranklin K2 Alternative Strategies Fund
Alternative FRANKLIN TEMPLETON INVESTMENT FUNDS Franklin K2 Alternative Strategies Fund A New Alternative for Today s Investor A New Alternative, a New Source of Returns Even with the subsequent recovery,
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 $2,125,578,204.37 Fund Inception Date 03/04/2000 Number of Issuers 93 Bloomberg
More informationFranklin K2 Long Short Credit Fund
Franklin Templeton Investment Funds Franklin K2 Long Short Credit Fund Alternatives Fund Profile Fund Details Inception Date 02 December 2016 Investment Style Benchmark(s) 1 Alternatives ICE BofAML US
More informationFranklin K2 Alternative Strategies Fund A (acc) USD
Franklin K2 Alternative Strategies Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Multi Strategy Alternatives Product Details Fund Assets $2,399,352,277.74 Fund Inception Date
More informationA (Ydis) EUR. Franklin Templeton Investment Funds. Fund Manager Report. Discrete Annual Performance (%) as at 31/01/2019. Calendar Year Returns (%)
Templeton Global Bond (Euro) Fund A (Ydis) EUR Franklin Templeton Investment Funds Fund Manager Report Unconstrained Fixed Income Product Details 1 Fund Assets 321879557.70 Fund Inception Date 29/08/2003
More informationTempleton Global Macro Group. Franklin Templeton Investment Funds Templeton Global Bond Fund - I (acc) USD. Data as of 28 February 2019
Templeton Global Macro Group Data as of 28 February 2019 Franklin Templeton Investment Funds - I (acc) USD Table of Contents Summary...3 What are the Key Risks?...4 Discrete Performance... 5 Historical
More informationFor professional investors and advisers only
Schroders Euro Corporate Bond Product description Schroder ISF Euro Corporate Bond aims to generate significant, above-average benchmark returns. The team invests predominantly in investment grade corporate
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 informationFranklin Equity Group. Franklin Templeton Investment Funds Franklin U.S. Opportunities Fund - A (acc) USD. Data as of 31 December 2017
Franklin Equity Group Data as of 31 December 2017 Franklin Templeton Investment Funds - A (acc) USD Table of Contents Investment Capabilities Overview...3 Franklin Equity Group...4 U.S. Growth Investment
More informationThe HSBC Global Investment Funds Menu
The HSBC Global Investment Funds Menu Your Selection Simplified July 2012 For professional clients only www.globalfunds.hsbc.com This Fund Menu provides an overview of HSBC Global Investment Funds and
More informationTempleton Emerging Markets Bond Fund A (Qdis) USD
Templeton Emerging Markets Bond Fund A (Qdis) USD Franklin Templeton Investment Funds Fund Manager Report Unconstrained Fixed Income Product Details 1 Fund Assets $10303444897.71 Fund Inception Date 05/07/1991
More informationFranklin Global Fundamental Strategies Fund A (acc) USD
Franklin Global Fundamental Strategies Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Total Return Multi-Asset Product Details 1 Fund Assets $2,004,270,834.71 Fund Inception Date
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 informationInvesco Emerging Markets Bond Fund A-SD shares
Invesco Emerging Markets Bond Fund A-SD shares January 2016 This marketing document is exclusively for use by Professional Clients and Financial Advisers in Continental Europe and Qualified Investors in
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 informationThis letter is important and requires your immediate attention. If you are in doubt, please consult your legal, financial or professional advisers.
This letter is important and requires your immediate attention. If you are in doubt, please consult your legal, financial or professional advisers. Dear Shareholder, 29 October 2010 Franklin Templeton
More informationTempleton Euroland Fund A (acc) EUR
Templeton Euroland Fund A (acc) EUR Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets 581,473,382.53 Fund Inception Date 08.01.1999 Number of Issuers 56
More informationTempleton Emerging Markets Bond Fund A (Qdis) USD
Templeton Emerging Markets Bond Fund A (Qdis) USD Franklin Templeton Investment Funds Fund Manager Report Unconstrained Fixed Income Product Details 1 Fund Assets $9366982200.49 Fund Inception Date 05/07/1991
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 informationTempleton Global Bond Plus Fund
Unconstrained Fixed Income Product Profile Product Details Fund Assets $139,695,848.77 Fund Inception Date 30/10/2007 Number of Securities 113 Including Cash Base Currency AUD Investment Style Unconstrained
More informationRISING RATES WHAT YOU NEED TO KNOW
RISING RATES WHAT YOU NEED TO KNOW Although rising interest rates may primarily challenge those bond investments with the highest sensitivity to interest rates, we believe many parts of the global fixed
More informationTempleton Shariah Asian Growth Fund
Franklin Templeton Shariah Funds Templeton Shariah Asian Growth Fund Value Fund Profile Fund Details Inception Date 27 August 2012 Investment Style Benchmark(s) Value MSCI AC Asia ex-japan Islamic Index
More informationFranklin Flexible Alpha Bond Fund A (acc) USD
Franklin Flexible Alpha Bond Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Absolute Return Fixed Income Product Details 1 Fund Assets $484799701.66 Fund Inception Date 18/03/2016
More informationFranklin Australian Core Plus Bond Fund
03 July 2017 Franklin Australian Core Plus Bond Fund ARSN 617 966 042 Information Memorandum Franklin Templeton Investments Australia Limited (ABN 87 006 972 247, AFS Licence number 225328) TABLE OF CONTENTS
More informationProduct Profile. Performance Data. Average Annual Total Returns (EUR %) 2,
Unconstrained Fixed Income Product Profile Product Details Composite Assets 497,872,526.09 Inception Date 30/11/2005 Base Currency USD Investment Style Unconstrained Overview 1 High alpha-seeking regional
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 informationWe are writing to you in your capacity as shareholder of the Receiving Sub-Fund.
FRANKLIN TEMPLETON INVESTMENT FUNDS Société d investissement à capital variable, L-1246 Luxembourg B.P. 169, L-2011 Luxembourg Tel. (352) 46 66 67-1 Fax (352) 46 66 76 E-mail: lucs@franklintempleton.com
More informationAdvanced Series Trust (formerly, American Skandia Trust)
Advanced Series Trust (formerly, American Skandia Trust) P RO S P E C T U S M a y 1, 2 0 0 7 The Fund is an investment vehicle for life insurance companies ("Participating Insurance Companies") writing
More informationGlobal ETF Portfolios
The Leaders In Pactive Management Richard Bernstein Advisors Global ETF Portfolios Richard Bernstein Advisors The Leaders In Pactive Management It is startling that so many investors focus on short-term
More informationDoubleLine Core Fixed Income Fund Fourth Quarter 2017
Income Fund Fourth Quarter 2017 333 S. Grand Ave., 18th Floor Los Angeles, CA 90071 (213) 633-8200 The Income Fund (DBLFX/DLFNX) is DoubleLine s flagship fixed income asset allocation fund. The fund seeks
More informationTempleton Global Macro. Franklin Templeton Investment Funds Templeton Global Bond Fund - A (Mdis) USD. Data as of March 31, 2018
Templeton Global Macro Data as of March 31, 2018 Franklin Templeton Investment Funds - A (Mdis) USD Table of Contents Summary...3 Historical Performance...4 Calendar Year Returns...5 Performance Risk Statistics...
More informationFranklin Templeton Fixed Income Group. Franklin Templeton Investment Funds Franklin Asia Credit Fund - I (acc) USD. Data as of 30 November 2018
Franklin Templeton Fixed Income Group Data as of 30 November 2018 Franklin Templeton Investment Funds - I (acc) USD Table of Contents Summary...3 What are the Key Risks?...4 Discrete Performance... 5 Historical
More informationFranklin K2 Global Macro Opportunities Fund A (acc) USD
Franklin K2 Global Macro Opportunities Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Multi Strategy Alternatives Product Details Fund Assets $24972720.70 Fund Inception Date
More informationFranklin Global Absolute Return Bond (USD) Composite
Franklin Global Absolute Return Bond (USD) Composite Absolute Return Fixed Income Product Profile Product Details Strategy Assets $913,479,610.50 Inception Date 09/30/2015 Base Currency USD Investment
More informationTempleton Global Macro Group. Franklin Templeton Investment Funds Templeton Global Bond Fund - A (Mdis) USD. Data as of 30 November 2018
Templeton Global Macro Group Data as of 30 November 2018 Franklin Templeton Investment Funds - A (Mdis) USD Table of Contents Summary...3 What are the Key Risks?...4 Discrete Performance... 5 Historical
More informationFranklin Australian Absolute Return Bond Fund
Absolute Return Bond Fund Absolute Return Fixed Income Product Profile Product Details Fund Assets $114,181,837.79 Fund Inception Date 22/12/2014 Number of Securities 144 Including Cash Base Currency AUD
More informationD E F I N I T I O N O F D U T I E S O B J E C T I V E S
UNIVERSITY OF UTAH E NDOWMENT POOL INVESTMENT IMPLEMENTATION STRATEGY CONTENTS May, 2015 O V E R V I E W D E F I N I T I O N O F D U T I E S O B J E C T I V E S A S S E T A L L O C A T I O N / I N V E
More informationFranklin Global Absolute Return Bond (USD) Composite
Franklin Global Absolute Return Bond (USD) Composite Absolute Return Fixed Income Product Profile Product Details Strategy Assets $600,884,324.94 Inception Date 09/30/2015 Base Currency USD Investment
More informationMulti-Strategy Total Return Fund A fund seeking attractive risk adjusted returns through a global portfolio of stocks, bonds, and other investments.
SUMMARY PROSPECTUS TMSRX TMSSX TMSAX Investor Class I Class Advisor Class March 1, 2018 T. Rowe Price Multi-Strategy Total Return Fund A fund seeking attractive risk adjusted returns through a global portfolio
More informationFranklin Templeton Investimentos Brasil São Paulo, Brazil
NOVEMBER 24, 2015 MANAGED INVESTMENTS ANALYSIS Franklin Templeton Investimentos Brasil São Paulo, Brazil Table of Contents: ASSESSMENT RATIONALE 1 RECENT DEVELOPMENTS 1 ASSET MANAGER OVERVIEW 2 FACTOR
More informationTempleton Emerging Markets Balanced Fund A (Qdis) USD
Templeton Emerging Markets Balanced Fund A (Qdis) USD Franklin Templeton Investment Funds Fund Manager Report Total Return Multi-Asset Product Details 1 Fund Assets $124,394,628.70 Fund Inception Date
More informationBUILDING STRONGER PORTFOLIOS WITH MULTI-ASSET SOLUTIONS
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE BUILDING STRONGER PORTFOLIOS WITH MULTI-ASSET SOLUTIONS Leveraging the best ideas of J.P. Morgan Stronger portfolios for better client results It takes
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 informationHarbour Investment Funds Statement of Investment Policy & Objectives (SIPO)
Harbour Investment Funds Statement of Investment Policy & Objectives (SIPO) Issued by Harbour Asset Management Limited 19 June 2017 This document replaces the SIPO dated 21 st September 2016 1 HARBOUR
More informationInvestment Committee Charter
Investment Committee Charter Mission Statement The Investment Committee (the Committee ) of the Northern Arizona University Foundation (the Foundation ) will assist the Board of Directors in fulfilling
More informationTempleton Asian Growth Fund A (acc) USD
Templeton Asian Growth Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $3,686,704,307.04 Fund Inception Date 16.04.1991 Number of Issuers
More informationSpecialist Diversified Fixed Income Fund
Specialist Diversified Fixed Income Fund Manager Profile January 2016 Adviser use only Investment Process Specialist Diversified Fixed Income Fund Investment process for this Fund is structured in the
More informationTempleton Emerging Markets Balanced Fund A (Qdis) USD
Templeton Emerging Markets Balanced Fund A (Qdis) USD Franklin Templeton Investment Funds Fund Manager Report Total Return Multi-Asset Product Details 1 Fund Assets $132,161,280.24 Fund Inception Date
More informationAre you thinking about international investments?
1 Are you thinking about international investments? FIND OUT MORE Navigate by Glacier International 2 Glacier International Glacier International offers you the opportunity to invest in a wide selection
More informationFranklin Templeton Investments. Why MLC has chosen Franklin Templeton? Philosophy on investing
Franklin Templeton Investments Manages global multi-sector bonds for MLC (since 2010). The company was founded in 1947 in New York. The Manages over US$920 billion across the world at 30 June 2014. Origins
More informationT. Rowe Price Funds SICAV A Luxembourg UCITS
PROSPECTUS T. Rowe Price Funds SICAV A Luxembourg UCITS Bond Funds Asia Credit Bond Fund Diversified Income Bond Fund Dynamic Global Bond Fund Dynamic Global Investment Grade Bond Fund Emerging Local Markets
More informationInvestment Policy and Guidelines for Trust and Endowment Funds. Assistant Vice-President, Finance and Human Resources
NIPISSING UNIVERSITY Policy Category: Policy Number: Policy Name: Responsible Department: Financial 2.7.2012.B Investment Policy and Guidelines for Trust and Endowment Funds Assistant Vice-President, Finance
More informationAll Asset and All Asset All Authority PIMCO All Asset Strategy
All Asset and All Asset All Authority PIMCO All Asset Strategy A highly differentiated and diversified tactical asset allocation strategy that combines the strengths of PIMCO and Research Affiliates two
More information