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31.10.2018
[email protected] www.franklintempleton.com.hk
*
*
5 ( ) (%)
A
80
100
120
140
( ) 143
17.04.1991
63
*
10/13 04/14 10/14 04/15 10/15 04/16 10/16 04/17 10/17 04/18 10/18
( ) (%)
3 1 3 5 10
A -9.58 -7.54 -9.77 0.86 12.63 91.57 58.91
-6.91 -3.95 -5.17 6.96 31.15 124.09 109.49
( )
( ) (%)
2017 2016 2015 2014 2013
A 6.60 4.33 12.46 -5.12 30.0410.88 3.22 8.78 7.40 20.51
*
Dylan Ball:
Heather Arnold, CFA:
Peter Moeschter, CFA:
* ( %)
ROYAL DUTCH SHELL PLC 4.58QIAGEN NV 3.52ENI SPA 3.36UCB SA 3.03TOTAL SA 2.88MERCK KGAA 2.71GERRESHEIMER AG 2.61INNOGY SE 2.52MORPHOSYS AG 2.43SAP SE 2.41
12 13.36x1.37x7.32x3.35%
(5 ) 12.48%
- A
Morningstar *:
*
%98.241.76
(%) (%) (%) (%) (%) ISINA 03.12.2001 22.09 1.84 5.00 1.00 0.50 LU0139292543A 14.05.2001 24.97 1.84 5.00 1.00 0.50 LU0128523122A 17.04.1991 20.17 1.84 5.00 1.00 0.50 09.07.2018 0.2170 LU0029868097
31.10.2018
*
Copyright © 2018 www.franklintempleton.com.hk
*
%19.65 / 14.3416.36 / 27.9015.32 / 17.5815.22 / 5.337.90 / 13.726.60 / 3.604.11 / 1.553.74 / 4.753.42 / 2.625.92 / 8.611.76 / 0.00
%26.77 / 13.6219.75 / 19.0114.85 / 8.689.43 / 12.828.86 / 5.216.21 / 7.744.83 / 8.954.83 / 3.721.63 / 4.911.08 / 15.341.76 / 0.00
( ) %50.0 25.96
( )
*
:
2008 5 A 2008 6 A: Copyright © Morningstar, Inc. (1) Morningstar, Inc. (2) (3)
CFA® Chartered Financial Analyst®: Copyright © Morningstar, Inc. (1) Morningstar, Inc. (2) (3)
:
:/ 100%
- 1
2018 04
·
·
·
: Franklin Templeton International Services S.à r.l.
: Franklin Templeton Investment Management
Limited,
: J.P. Morgan Bank Luxembourg S.A.
:
: 6 30
:
: 1,000 [ ] 500 [ ]
#:
A ( ) : 1.84%
A ( ) : 1.84%
A ( ) : 1.84%# 2017 12 31
: ( )
Commission de Surveillance du Secteur Financier ( CSSF )
·
100%
·
·
- 2
·
50%
· :
·
· :
· :
·
· :
·
- 3
·
· :
· :
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-50.0%
-25.0%
0.0%
25.0%
50.0%
-42.9%
21.4%
7.1%
-7.6%
18.9%
30.0%
-5.1%
12.5%
4.3%6.6%
·
·
· A ( ) A ( )
· : 1991 4 17
· A ( ) : 2001 12 3
- 4
A
( ) 5.00%
( ) * 1.00%
( )
( )
A **
( )* 1.00%
0.140%
* 0.50%
+ 0.2175%
30
*
**
· ( ( ) )
· www.franklintempleton.com.hk
· i ii
www.franklintempleton.com.hk
· www.franklintempleton.com.hk
· (852) 2877 7733 www.franklintempleton.com.hk
·
- 5
Franklin Templeton Investment Funds
Templeton European Fund
European Equity
31.10.2018
Fund Fact Sheet
E-Mail Web
[email protected] www.franklintempleton.com.hk
For the source and calculation basis of Fund information, please refer to the *Explanatory Notes section.
Risk Considerations
● The Fund may invest in debt securities and money market instruments, and as a result may be subject to interest rate risk
caused by movements in interest rates.
● The Fund may invest in fixed income securities and money market instruments where an issuer may fail to make principal
and interest payments.
● The Fund's value may be affected by exchange control regulations and changes in exchange rates.
● The Fund may at its discretion pay dividends out of the capital or out of gross income of the Fund while paying all or part of
the Fund’s fees and expenses out of the capital of the Fund, which results in effectively paying dividends out of capital.
● Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any
capital gains attributable to that original investment.
● Any distributions involving payment of dividends out of the Fund’s capital or payment of dividends effectively out of the
Fund’s capital (as the case may be) may result in an immediate reduction of the net asset value per share.
● This investment involves risks which may result in loss of part or entire amount of your investment.
● Before you decide to invest, you should make sure the intermediary has explained to you that the Fund is suitable to you.
● Investors should not only base on this marketing material alone to make investment decisions.
Performance*
Performance over 5 Years in Share Class Currency (%)
Templeton European Fund A (acc) EUR
80
100
120
140
Fund Overview
Base Currency for Fund EUR
Total Net Assets (EUR) 143 Millions
Fund Inception Date 17.04.1991
Number of Issuers 63
Benchmark MSCI Europe Index
Morningstar Category™* Europe Large-Cap Value
Equity
10/13 04/14 10/14 04/15 10/15 04/16 10/16 04/17 10/17 04/18 10/18
Performance in Share Class Currency (%)
Cumulative
3 Mths YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Incept
A (acc) EUR -9.58 -7.54 -9.77 0.86 12.63 91.57 58.91
Benchmark in EUR -6.91 -3.95 -5.17 6.96 31.15 124.09 109.49
Summary of Investment Objective
The Fund aims to achieve long-term capital appreciation
by investing primarily in equity securities (common stock)
issued by European corporations as well as debt
obligations of European corporations and governments.
Calendar Year Performance in Share Class Currency (%)
2017 2016 2015 2014 2013
A (acc) EUR 6.60 4.33 12.46 -5.12 30.04
Benchmark in EUR 10.88 3.22 8.78 7.40 20.51
Fund Management*
Dylan Ball: United Kingdom
Heather Arnold, CFA: Bahamas
Peter Moeschter, CFA: Canada
Top Ten Holdings (% of Total)
Issuer Name
ROYAL DUTCH SHELL PLC 4.58
QIAGEN NV 3.52
ENI SPA 3.36
UCB SA 3.03
TOTAL SA 2.88
MERCK KGAA 2.71
GERRESHEIMER AG 2.61
INNOGY SE 2.52
MORPHOSYS AG 2.43
SAP SE 2.41
Fund Measures
Price to Earnings (12-mo
Trailing)
13.36x
Price to Book 1.37x
Price to Cash Flow 7.32x
Dividend Yield 3.35%
Standard Deviation (5 Yrs) 12.48%
Ratings - A (acc) EUR
Overall Morningstar Rating™*:
Asset Allocation*
%
Equity 98.24
Cash & Cash Equivalents 1.76
Offering Documents
Share Class Information
Fees Dividends Fund Identifiers
Share Class Incept Date NAV TER (%)
Max. Sales
Charge (%)
Mgmt.
Fee (%)
Max. Maint.
Charge (%)
Max. Serv.
Charge (%)
Last Paid
Date
Last Paid
Amount ISIN
A (acc) EUR 03.12.2001 EUR 22.09 1.84 5.00 1.00 0.50 N/A N/A N/A LU0139292543
A (acc) USD 14.05.2001 USD 24.97 1.84 5.00 1.00 0.50 N/A N/A N/A LU0128523122
A (Ydis) USD 17.04.1991 USD 20.17 1.84 5.00 1.00 0.50 N/A 09.07.2018 0.2170 LU0029868097
Templeton European Fund 31.10.2018
For the source and calculation basis of Fund information, please refer to the *Explanatory Notes section.
© 2018. Franklin Templeton Investments. All rights reserved.
www.franklintempleton.com.hk
Composition of Fund*
Templeton European Fund MSCI Europe Index
Geographic % of Total
Germany 19.65 / 14.34
United Kingdom 16.36 / 27.90
France 15.32 / 17.58
Netherlands 15.22 / 5.33
Switzerland 7.90 / 13.72
Italy 6.60 / 3.60
Belgium 4.11 / 1.55
Spain 3.74 / 4.75
Denmark 3.42 / 2.62
Others 5.92 / 8.61
Cash & Cash Equivalents 1.76 / 0.00
Sector % of Total
Health Care 26.77 / 13.62
Financials 19.75 / 19.01
Energy 14.85 / 8.68
Industrials 9.43 / 12.82
Information Technology 8.86 / 5.21
Materials 6.21 / 7.74
Consumer Discretionary 4.83 / 8.95
Utilities 4.83 / 3.72
Communication Services 1.63 / 4.91
Others 1.08 / 15.34
Cash & Cash Equivalents 1.76 / 0.00
Market Capitalisation Breakdown in EUR % of Equity
50.0 Billion 25.96
Important Information
Unless stated otherwise, all information is as of the publishing date of this document. Source: Franklin Templeton Investments.
Franklin Templeton Investments (Asia) Limited is the issuer of this document. This document is neither an offer nor solicitation to purchase shares of the fund; applications for shares may only be
made on forms of application available with the Offering Documents. Investments are subject to investment risks, fund value may go up as well as down and past performance is not an indicator
or a guarantee of future performance. The investment returns are denominated in fund currency. Investors investing in funds denominated in non-local currency should be aware of the risk of
exchange rate fluctuations that may cause a loss of principal. Investors should read carefully the Offering Documents (including the section 'Risk Considerations') for the relevant risks associated
with the investment in the fund before investing. Distribution of this document may be restricted in certain jurisdictions. This document does not constitute the distribution of any information or the
making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a report or make such
an offer or solicitation. This document has not been reviewed by the Securities and Futures Commission of Hong Kong.
*Explanatory Notes
Performance: Performance information is based on the stated share class only, in Fund Currency, NAV to NAV, taking into account of dividend reinvestments and capital gain or loss.
When performance for either the portfolio or its benchmark has been converted, different foreign exchange closing rates may be used between the portfolio and its benchmark.
All MSCI data is provided “as is.” The Fund described herein is not sponsored or endorsed by MSCI. In no event shall MSCI, its affiliates or any MSCI data provider have any liability of any kind
in connection with the MSCI data or the Fund described herein. Copying or redistributing the MSCI data is strictly prohibited.
The performance information for fact sheet until May 2008 was based on A(Ydis)USD Shares. Starting from June 2008, the performance information for fact sheet is based on A(acc)EUR Shares
applied retrospectively.
Morningstar Category™: Copyright © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be
copied or distributed; and (3) is provided for reference purposes only. Past performance is not an indicator or a guarantee of future performance.
Fund Management: In the case of portfolio managers who are CFA Charterholders, CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Ratings: Copyright © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed;
and (3) is provided for reference purposes only. Past performance is not an indicator or a guarantee of future performance.
Top 10 Holdings: These securities do not represent all of the securities purchased, sold or recommended for clients, and the reader should not assume that investment in the securities listed
was or will be profitable. The portfolio manager for the Fund reserves the right to withhold release of information with respect to holdings that would otherwise be included in the top holdings list.
Dividend Yield: Reported as a weighted average to reflect the proportion of the portfolio each stock holding represents. This is the ratio of a stock’s dividend per share to the month end market
price.
Asset Allocation/Composition of Fund: Due to rounding, the sum of portfolio may not equal 100%.
Franklin Templeton Investment Funds - Templeton European Fund 1
Product Key Facts
Franklin Templeton Investment Funds –
Templeton European Fund
Last updated: April 2018
· This statement provides you with key information about this product.
· This statement is a part of the offering document.
· You should not invest in this product based on this statement alone.
Quick facts
Management company: Franklin Templeton International
Services S.à r.l.
Investment manager: Franklin Templeton Investment
Management Limited, United Kingdom (internal delegation)
Depositary: J.P. Morgan Bank Luxembourg S.A.
Base currency: EUR
Financial year end of this Fund: 30 June
Dealing frequency: Every Hong Kong Business Day
Minimum Investment: USD 1,000 [initial] and USD 500
[subsequent purchases] or equivalent
Ongoing charges over a year
#
:
Class A (Ydis) USD: 1.84%
Class A (acc) EUR: 1.84%
Class A (acc) USD: 1.84%
#
The ongoing charges figures are based on the semi-annual financial
statements for the period ended 31 December 2017. These figures may
vary from year to year.
Dividend policy: Dividends, if declared, will be reinvested unless
indicated by you in the application form to be paid out. Subject to
any legal and regulatory requirements, the Fund may at its
discretion pay dividends out of the capital or out of gross income
of the Fund while paying all or part of the Fund’s fees and
expenses out of the capital of the Fund, which results in
effectively paying dividends out of capital. The Fund may amend
such distribution policy subject to the SFC’s prior approval and by
giving not less than one month’s prior notice to investors. Any
distributions involving payment of dividends out of the Fund’s
capital or payment of dividends effectively out of the Fund’s
capital (as the case may be) may result in an immediate reduction
of the net asset value per share.
What is this product?
This is a fund constituted in the form of a mutual fund. It is domiciled in Luxembourg and its home regulator is Commission de
Surveillance du Secteur Financier (“CSSF”).
Investment Objective and Policy
Templeton European Fund (the “Fund”) aims to increase the value of its investments over the medium to long term.
The Fund invests principally (that is, at least two-thirds of the Fund’s net assets) in:
· common stocks/equity issued by European corporations
In exceptional market circumstances (such as extreme volatility) and on a temporary basis only, 100% of the Fund’s net assets may
be invested in liquid assets, with due regard to the principle of risk spreading.
The Fund may also invest on an ancillary basis in:
· preferred stock
· convertible securities
· debt securities, including debt securities issued by European governments
Franklin Templeton Investment Funds - Templeton European Fund 2
The investment team uses in-depth analysis to select individual securities that it believes are undervalued and will provide the best
opportunities for increased value over the long term.
The Fund does not intend to invest extensively or primarily in financial derivative instruments for investment purposes.
For the purpose of generating additional capital or income or for reducing costs or risks, the Fund may engage in securities lending
transactions for up to 50% of its net assets, in a manner that is consistent with its investment policy. For the avoidance of doubt, any
securities lending will be an ancillary activity of the Fund only.
What are the key risks?
Investment involves risks. Please refer to the offering document for details including the risk factors.
· Market risk: The market values of securities owned by the Fund will tend to go up or down, sometimes rapidly or
unpredictably, due to factors affecting individual issuers, particular industries or sectors within securities markets, or because of
general market conditions. During a general downturn in the securities markets, multiple asset classes (including different
sectors of the same asset class) may decline in value at the same time. Similarly, when markets perform well, there can be no
assurance that securities held by the Fund will participate in the advance. Because the securities the Fund holds fluctuate in
price in this manner, the Fund’s value may go down as well as up and investors may be adversely affected.
· Equity risk: Equity and equity-linked securities are subject to significant price movements due to various economic, political,
market and issuer-specific factors. Such changes may adversely affect the value of equities regardless of issuer-specific
performance. Additionally, different industries, financial markets and securities can react differently to these changes. Such
fluctuations of the Fund’s value are often exacerbated in the short-term. Financial markets trends (including feared or actual
failures in the banking system) may also cause large fluctuations in the prices of such securities. As a result, the Fund may be
adversely affected.
· Foreign currency risk: The Fund will typically invest to a significant degree in securities that are denominated in currencies
other than the base currency of the Fund, exposing its investments to changes in foreign exchange rates and the possibility of
exchange control regulations. Changes in currency exchange rates may adversely affect the value of the Fund, and also may
affect the income earned by the Fund and gains and losses realized by the Fund. Furthermore, the total return for a share
class that is denominated in a different currency (the “alternative currency”) from the base currency of the Fund may be
affected, either positively or negatively, by changes in the exchange rate between the Fund’s base currency and the
alternative currency.
· Eurozone risk: The Fund may invest in the Eurozone. Mounting sovereign debt burdens (e.g. any sovereigns within the
Eurozone, which default on their debts, may be forced to restructure their debts and faced difficulties in obtaining credit or
refinancing) and slowing economic growth among European countries, combined with uncertainties in European financial
markets, including feared or actual failures in the banking system and the possible break-up of the Eurozone and Euro
currency, may adversely affect interest rates and the prices of securities across Europe and potentially other markets as well.
These events may increase volatility, liquidity and currency risks associated with investments in Europe. The aforesaid
economic and financial difficulties in Europe may spread across Europe and as a result, a single or several European countries
may exit the Eurozone or a sovereign within the Eurozone may default on its debts. In any event of the break-up of the
Eurozone or Euro currency, the Fund may be exposed to additional operational or performance risks. While the European
governments, the European Central Bank, and other authorities are taking measures (e.g. undertaking economic reforms and
imposing austerity measures on citizens) to address the current fiscal conditions, these measures may not have the desired
effect and therefore the future stability and growth of Europe is uncertain. The performance and value of the Fund may be
adversely affected should there be any adverse credit events (e.g. downgrade of the sovereign credit rating or default or
bankruptcy of any Eurozone countries).
Franklin Templeton Investment Funds - Templeton European Fund 3
· Liquidity risk: The Fund may not be able to easily sell securities due to adverse market conditions or reduced value or
creditworthiness of issuers in which it invests. The inability of the Fund to sell securities or positions may also impede the ability
of the Fund to meet redemption requests in a timely manner. Certain securities may also be illiquid due to limited trading
markets or contractual restrictions on their resale. Reduced liquidity due to these factors may have an adverse impact on the
net asset value of the Fund.
· Regional market risk: By being concentrated in one region (i.e., Europe), the Fund could suffer greater volatility compared to
funds that follow a more diversified policy. The value of the Fund may be more susceptible to adverse economic, political,
policy, foreign exchange, liquidity, tax, legal or regulatory events affecting Europe and the Fund/investors may be adversely
impacted.
· Value stocks risk: The Fund invests in stocks selected using a bottom-up, long-term, value-oriented approach, which may
underperform other approaches. To the extent that the markets fail to recognize their expected value, investment may
underperform other stock selection approaches and the Fund/investors may be adversely impacted.
· Dividend policy risk: The Fund’s dividend policy allows for payment of dividends out of capital or effectively out of capital.
Where this is done, it amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains
attributable to that original investment. Any distributions involving payment of dividends out of the Fund’s capital or payment of
dividends effectively out of the Fund’s capital (as the case may be) may result in an immediate reduction of the net asset value
per share.
· Counterparty risk: The Fund may be exposed to the credit/default risks of its counterparties and the Fund/investors may be
adversely impacted.
· Securities lending risk: Securities lending transactions may involve the risk that the borrower may fail to return the securities
lent out in a timely manner and the value of the collateral may fall below the value of the securities lent out, which may result in
a substantial loss to the Fund.
Franklin Templeton Investment Funds - Templeton European Fund 4
How has the Fund performed?
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-50.0%
-25.0%
0.0%
25.0%
50.0%
-42.9%
21.4%
7.1%
-7.6%
18.9%
30.0%
-5.1%
12.5%
4.3%
6.6%
· Past performance information is not indicative of future performance. Investors may not get back the full amount invested.
· The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividends reinvested.
· These figures show by how much class A (acc) EUR increased or decreased in value during the calendar year being shown.
Class A (acc) EUR is the share class available in Hong Kong denominated in the base currency of the Fund with the longest
history in the Fund. Performance data has been calculated in EUR, including ongoing charges and excluding subscription fee
and redemption fee you might have to pay.
· Fund launch date: 17 April 1991
· Class A (acc) EUR launch date: 3 December 2001
Is there any guarantee?
This Fund does not have any guarantees. You may not get back the full amount of money you invest.
Franklin Templeton Investment Funds - Templeton European Fund 5
What are the fees and charges?
Charges which may be payable by you
You may have to pay the following fees when dealing in the shares of the Fund.
Class A
Subscription fee (Initial sales charge) Up to 5.00% of the subscription amount
Switching fee (Switching charge)* 1.00% of the value of the shares being switched
Redemption fee (Redemption charge) N/A
Ongoing fees payable by the Fund
The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments.
Annual rate (as a % of the Fund’s net asset value)
Class A**
Management fee (Investment management fee)* 1.00%
Depositary fee Up to 0.140%
Performance fee N/A
Administration fee N/A
Maintenance charge*
0.50%
Servicing charge N/A
Registrar and Transfer, Corporate, Domiciliary and
Administrative Agent fee +
Additional fixed amount per Shareholder account at each Class
level
Up to 0.2175%
Up to USD 30 per annum
*The current fee level may be increased up to the maximum level permitted by the constitutive document of the Fund by giving one
month’s prior notice to the shareholders.
** The Annual Management Fees as defined in the Explanatory Memorandum comprise of the Management Fee (Investment
Management Fee) and the Maintenance Charge.
Other fees
You may have to pay other fees and charges when dealing in the shares of the Fund.
Additional Information
· You generally buy and redeem shares at the Fund’s next determined net asset value (NAV) after the Hong Kong
Representative, Franklin Templeton Investments (Asia) Limited, receives your request in good order on or before 4:00 p.m.
(Hong Kong time) being the dealing cut-off time. Certain intermediaries may impose an earlier dealing cut-off time.
· The net asset value of this Fund is calculated and the price of shares is published on each business day. Information about
prices is available online at www.franklintempleton.com.hk.
· The compositions of the dividends (i.e. the relative amounts paid out of (i) net distributable income and (ii) capital) for the last
12 months are made available by the Hong Kong Representative on request and are also available online at
www.franklintempleton.com.hk.
· Investors may obtain the past performance information of other share classes offered to Hong Kong investors from the Hong
Kong Representative's website at www.franklintempleton.com.hk .
Franklin Templeton Investment Funds - Templeton European Fund 6
· Investors may obtain information on the intermediaries by calling the Hong Kong Representative at (852)2877-7733 or visiting
the Hong Kong Representative's website at www.franklintempleton.com.hk.
· The website mentioned above has not been reviewed by the Securities and Futures Commission (“SFC”).
Important
If you are in doubt, you should seek professional advice.
The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness.