Templeton Global Equity Group

Compound Value

Compound value is a broad interpretation of value that balances forward-looking and price discipline.

Willing to predict change

Drives risk and return

Contrarian when warranted

Return on invested capital drives value

Allow time for value to emerge

We believe our types of value framework allows us to put price into context with the other drivers of return.

Types of value framework promotes diversity of investment ideas, focuses on what matters and appropriate price discipline.

The past is a guide to the future

The future will be better than the past

A longer-term view is appropriate

Cash generation is key

Unlocking of asset value drives thesis

Established	1940
Style	Compound Value
Capabilities	Select, Opportunities, Leaders, Focus, Small Cap, Balanced, Climate Change, and Specialty
Strengths	Research-driven investment firm with expertise in bottom-up fundamental analysis. Large research team based across 8 offices worldwide that covers the whole investment universe. We bring local knowledge and global perspective to our analysis of investment opportunities. A forward-looking, fundamental, and price-disciplined approach to investing is important for navigating volatile markets. Templeton Global Equity Group is ideally structured to understand and predict how companies will adapt over time. A deep understanding of risk, at both the stock and the portfolio level, is at the heart of our investment process.