Franklin Mutual Series

Our core investments are in undervalued stocks with viable catalysts that we believe will change the way the market views their true worth, thus unlocking value for our shareholders. Through bottom-up research, we seek to find value wherever it hides. This approach allows us to find opportunities throughout all parts of the business cycle.

We aim to be diligent in our analysis and disciplined in our purchases so that we only buy securities trading at a discount to what we think they are worth. Additionally, we won't hesitate to engage with management if our shareholders' interests need to be protected.

Undervalued stocks are by definition discounted, which we believe reduces risk. In addition, our select investments in distressed securities and merger arbitrage, both natural extensions of our value strategy, tend to be affected less by broad market movements than by the specifics surrounding each particular situation.