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Risk matters The Mutual Series portfolio team of Franklin Mutual Advisers, LLC looks for solid, long-term value investment opportunities. These kinds of securities are usually less affected by general market movements than more dynamic, high-growth oriented companies, which makes Mutual Beacon Fund and Mutual Discovery Fund good choices for conservative investors. Deep value investors As deep value investors, we focus on underlying asset value, potential catalysts and longterm intrinsic value creation, in addition to looking for solid assets that are undervalued by the market. These could be companies that are involved in mergers or acquisitions, spin-offs, financial reorganizations, or other special situations. A strategy of thorough research and active follow-up. Finding the hidden value in companies that others have overlooked requires hard work. And once the opportunities have been identified, the team takes a continuing and active interest in the company, to reduce risk and to help management find out what can be done to increase shareholder value. Mutual Series analysts examine the company’s assets to determine where the inefficiencies may be and what the catalyst might be to enable the company’s true value to be realized. A strategy for all types of markets
Deep value investing has proved itself through market downturns as well as upswings.
Because deep value investors look for intrinsic, underlying value, the price of the securities in
their portfolios are often less sensitive to economic and market gyrations than most growth
stocks.
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