FMIAX — Franklin Mutual International Fund
Data updated: 2020-03-16
FMIAX — Franklin Mutual International Fund. Europe Value Equity · $100.15M AUM · 1.22% expense ratio. Holdings, fees, performance and SEC filings.
FMIAX Fund Overview
FMIAX — Franklin Mutual International Fund is a US mutual fund managed by Franklin Mutual Series Funds, categorised as Europe Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Franklin Mutual Series Funds
- Category: Europe Value Equity
- Assets under management: $100.15M
- Ticker: FMIAX
- SEC CIK: 0000825063
- SEC series ID: S000025452
- Share class ID: C000076161
FMIAX Investment Objective and Strategy
Franklin Mutual International Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Franklin Mutual Series Funds.
Investment objective
Capital appreciation, which may occasionally be short term. The secondary goal is income.
Principal investment strategy
Under normal market conditions, the Fund invests at least 80% of its net assets in securities of non-U.S. issuers. The investment manager focuses the Fund's investments on securities believed to be available at market prices less than their value based on certain recognized or objective criteria (intrinsic value). Following this value-oriented strategy, the Fund invests primarily in undervalued equity securities (securities trading at a discount to intrinsic value). The equity securities in which the Fund invests are primarily common stocks. The Fund invests primarily in equity securities of Asian and European companies that the investment manager believes are undervalued. The Fund normally invests in securities from at least five different countries, although, from time to time, it may invest all of its assets in a single country.
The Fund may invest in securities of issuers from the Middle East and the remaining regions of the world, including emerging markets. The Fund also may invest up to 20% of its total assets in securities of U.S. issuers. The Fund is not limited to pre-set maximums or minimums governing the size of the companies in which it may invest. However, the Fund currently invests the equity portion of its portfolio primarily to predominantly in mid- and large cap companies, with the remaining portion of its equity portfolio in smaller companies. The Fund regularly attempts to hedge (protect) against currency risks, largely using currency forward contracts and currency futures contracts (including currency index futures contracts) when, in the investment manager's opinion, it would be advantageous to the Fund to do so.
The Fund may also, from time to time, attempt to hedge against market risk using a variety of derivatives. Portfolio Selection The investment manager employs a research driven, fundamental value strategy for the Fund. Investments are generally selected based on the investment manager's own analysis of the security's intrinsic value, including for equity securities, an analysis of book value, cash flow potential, long-term earnings and multiples of earnings. The investment manager examines each investment separately and there are no set criteria as to specific value parameters, asset size, earnings or industry type.
FMIAX Holdings
Top 10 holdings of Franklin Mutual International Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Samsung Electronics Co. Ltd. Ord Krw 100 | 3.59% |
| British American Tobacco PLC Ord Gbp.25 | 3.35% |
| Nn Group NV Ord EUR Npv | 3.29% |
| Glaxosmithkline PLC Ord Gbp.25 | 3.25% |
| Rsa Insurance Group PLC Ord Gbp1 | 3.19% |
| JXTG Holdings Inc ORD JPY NPV | 3.17% |
| Renesas Electronics Corp. Ord JPY Npv | 3.17% |
| Bp PLC Ord Gbp.25 | 3.09% |
| Ing Groep NV Ord Eur.01 | 3.03% |
| Novartis AG Ord Chf.5 | 2.97% |
FMIAX Portfolio Allocation
Asset-class allocation of Franklin Mutual International Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 92.8% |
| Derivatives | 61.2% |
| Cash & Equivalents | 0.9% |
FMIAX Costs and Fees
FMIAX costs about $122 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.22%
- Gross expense ratio: 1.46%
- Portfolio turnover: 29%
- Brokerage commissions: 5.12 bps of average net assets (SEC N-CEN)
FMIAX Cashflows
Over the 12 months to 2019-12, Franklin Mutual International Fund had net outflows of $34.67M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2019-12 | −$8.46M |
| 2019-11 | −$2.49M |
| 2019-10 | −$3.53M |
| 2019-09 | −$14.29M |
| 2019-08 | −$3.22M |
| 2019-07 | −$2.68M |
FMIAX Debt Constituents
No individual debt constituents are reported in Franklin Mutual International Fund's latest SEC N-PORT filing.
FMIAX Prospectus and SEC Filings
Official Franklin Mutual International Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2019-05-06
- Prospectus (485BPOS) — filed 2018-05-08
- Prospectus supplement (497) — filed 2018-09-10
- Portfolio holdings (N-PORT) — filed 2020-03-02
- Portfolio holdings (N-PORT) — filed 2019-11-29
- Annual census (N-CEN) — filed 2020-03-16
- Annual census, amended (N-CEN/A) — filed 2019-07-05
Related Funds
Other Europe Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.