Morningstar® Investment Profile™   Morningstar®
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Franklin Mutual Global Discovery VIP 1
Release date as of 2022-05-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of ---
Out of 156
Global Large-Stock Value Funds
Morningstar®
Style Box™
What is this?
As of 2022-05-31
Total Fund Assets ($ Mil)
481.61
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks capital appreciation.
The fund invests primarily in equity securities (including securities convertible into, or that the investment manager expects to be exchanged for, common or preferred stock) of U.S. and foreign companies that the investment manager believes are available at market prices less than their value based on certain recognized or objective criteria (fundamental value). Following this value-oriented strategy, the fund invests primarily in undervalued securities. The advisor presently does not intend to invest more than a portion (no more than 25%) of its assets in securities of issuers located in emerging market countries.
  Morningstar Category: Global Large-Stock Value
Global large-stock value portfolios invest in a variety of international stocks and typically skew towards large caps that are less expensive or growing more slowly than other global large-cap stocks. World large stock value portfolios have few geographical limitations. It is common for these portfolios to invest the majority of their assets in developed markets, with the remainder divided among the globe’s emerging markets. These portfolios are not significantly overweight U.S. equity exposure relative to the Morningstar Global Market Index and maintain at least a 20% absolute U.S. exposure. 
  Investment Risks
There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 44.5
Bullet Non-U.S. Stocks Non-U.S. Stocks 52.8
Bullet Bonds Bonds 0.3
Bullet Cash Cash 2.2
Bullet Other Other 0.1
Asset Allocation Rescaled Graph
Data through 2022-05-31
Morningstar Equity Sectors
% of Stocks
Cyclical 32.92
Basic Materials 3.38
Consumer Cyclical 7.83
Financial Services 20.75
Real Estate 0.96
Sensitive 42.73
Communication Services 9.30
Energy 6.65
Industrials 16.10
Technology 10.68
Defensive 24.33
Consumer Defensive 6.94
Healthcare 15.99
Utilities 1.40
Data through 2022-05-31
Morningstar World Regions
% Fund
Americas 46.2
North America 46.2
Latin America 0.0
Greater Europe 46.8
United Kingdom 12.3
Europe Developed 32.4
Europe Emerging 0.0
Africa/Middle East 2.1
Greater Asia 7.1
Japan 3.5
Australasia 0.0
Asia Developed 2.3
Asia Emerging 1.3
Data through 2022-05-31
Holding Status
Total Number of Stock Holdings 60
Total Number of Bond Holdings 2
% of Net Assets in Top 10 Holdings 24.37
Turnover % (as of 2021-12-31) 41.58
30 Day SEC Yield % ---
Top Holdings
Sector Country % of Net
Assets
Deutsche Telekom AG Germany 3.15
BP PLC United Kingdom 2.92
Charter Communications Inc Class A United States 2.50
ING Groep NV Netherlands 2.33
Novartis AG ADR Switzerland 2.32
GSK PLC United Kingdom 2.26
BNP Paribas Act. Cat.A France 2.25
Voya Financial Inc United States 2.23
NN Group NV Netherlands 2.21
Global Payments Inc United States 2.20
Data through 2022-05-31
  Principal Risks   
Event-Driven Investment/Arbitrage Strategies, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Value Investing, Active Management, Market/Market Volatility, Industry and Sector Investing, Other, Derivatives, Small Cap, Mid-Cap
Show Risk Definitions
  Other Information
Inception Date: 1996-11-08
Portfolio Manager(s)
Christian Correa   (2018-01-01)
Christian Correa, CFA is a portfolio manager and director of research for Franklin Mutual Series. Mr. Correa has been a lead or co-lead portfolio manager of the Franklin Mutual Beacon Fund since 2007 and co-lead portfolio manager of the Franklin Mutual Global Discovery Fund since 2018. Prior to joining Franklin Mutual Series in 2003, he worked at Lehman Brothers Holdings Inc. He has more than a decade of investment experience. He holds a B.A. from Claremont McKenna College, an M.A. (economics) from Northwestern Univ. and is a graduate of Harvard Law School.
Katrina Dudley   (2020-11-02)
Katrina Dudley is co-lead portfolio manager of the Franklin Mutual European mutual funds. She has been a manager of these funds for the past 10 years and has been a member of the Mutual Series team for 14 years. Ms. Dudley has an MBA from New York University's Stern School of Business, a B.A. of Laws and a B.A. in Commerce from Bond University, and an Associate of Science degree from the University of the People. She is a CFA charterholder.
Timothy Rankin   (2010-12-31)
Rankin, CFA, has been a co-lead portfolio manager for the Franklin Mutual since January 2018. He is a Portfolio Manager at Franklin Templeton Investments. With 17 years of investment management experience, Rankin first started at Franklin in 1997 as a Research Analyst and became Assistant Portfolio Manager in 2001. In 2004, he left to serve as Managing Director at Blue Harbour Group, LLC before re-joining Franklin in 2010. Prior to his original employment with the Mutual Series Funds, Rankin was an Equity Analyst at Glickenhaus & Co.
Investment Advisor(s)
Franklin Mutual Advisers, LLC
Issuer
Franklin Templeton Investments
Subadvisor(s)
---
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