Franklin Templeton Investments

Franklin Templeton Investments
“We believe in the value of active management
and financial advice. Our goal is to deliver
strong, long-term results for investors and
institutions wherever they reside in the world.”
Gregory E. Johnson
Chairman of the Board
Chief Executive Officer and President
Franklin Resources, Inc.
A Premier Investment
Management Organization
For more than six decades, individuals and institutions around the world have viewed
Franklin Templeton Investments1 as a global leader in asset management. With an
unwavering focus on investment excellence, we offer a unique combination of
experience, global perspective and a consistent, disciplined approach to investing that
has proven itself across market cycles.
A globally diversified business with:2
65+
240,000
YEARS OF EXPERIENCE
ADVISOR RELATIONSHIPS WORLDW IDE
150+
8,500+
COUNTRIES SERVED
EMPLOYEES WORLDWIDE
1. Franklin Resources®, Inc. is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments
provides global and domestic investment management solutions managed by its Franklin®, Templeton®, Mutual Series®, Fiduciary Trust Company
International TM, Darby Private Equity®, K2 Advisors® and Bissett® investment teams.
2. As of 31 December 2012.
Unwavering Focus on
Investment Excellence
Since our founding in 1947, Franklin Templeton Investments has remained focused on one goal: delivering
exceptional investment management for our clients. Our portfolio managers take a long-term view,
leveraging disciplined, time-tested strategies and assessing risk as rigorously as they seek reward.
Exceptional Research Capabilities
Our commitment to thorough, bottom-up research is supported by more than 580 investment professionals
located in research offices across the globe. Our portfolio managers and research analysts conduct extensive,
fundamental analysis, striving to get to know each organization from the ground up. We believe the breadth and
depth of our global presence make us uniquely positioned to spot smart global investments others might miss.
Experienced Investment Professionals
Our investment professionals average over 16 years’ experience in the industry, and over 10 years with our firm.
Over the past decade, we have doubled the firm’s total number of investment professionals, demonstrating our
commitment to portfolio management.
INVESTMENT PROFESSIONAL TENURE3
NUMBER OF INVESTMENT PROFESSIONALS4
12/2012
Franklin
11.0
15.8
581
2005
Templeton
10.9
15.3
444
2000
Mutual Series
11.8
Average Years with Franklin Templeton Investments
Average Years of Industry Experience
18.8
243
139% increase
OUR
INVESTMENT
CAPABILITIES
3. As of 31 December 2012. Tenure data includes portfolio managers, portfolio managers/analysts, research analysts and traders of Franklin, Templeton and Mutual Series
investment management groups.
4. As of 31 December 2012. Investment professionals include portfolio managers, portfolio managers/analysts, research analysts and traders of Franklin, Templeton,
Mutual Series and subsidiary investment management groups.
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
Specialized Expertise from Independent Teams
We are dedicated to offering a wide range of investment solutions—including mutual funds, separate
accounts, commingled trusts, private equity and other vehicles—designed to serve a variety of client needs
and risk appetites worldwide. Each of our investment groups—Franklin, Templeton, Mutual Series and our
specialized investment teams5—follows an independent and distinct investment philosophy. For example,
a client who invests in a Franklin equity portfolio and a Mutual Series equity portfolio will typically see
only a small percentage of stocks held in common in both portfolios. In this way, our investors may pursue
significant diversification within a single firm.
Our Global Perspective Is Supported by a Global Platform
Our products and investment teams are supported by a single, unified global platform of services, including
operations, technology, compliance, sales, client services and marketing.
We believe this global platform allows each investment team to focus on maximizing the performance of its
investment portfolios. In addition, this structure helps us achieve our goal of ensuring that each client receives
truly global support, as well as access to our best products and ideas.
Global Fixed Income | US Fixed Income | Global Equity | International Equity
US Value Equity | US Growth Equity | Emerging Markets | Core/Hybrid
Local Asset Management | Private Equity | Real Assets | Asset Allocation | Alternatives
5. Specialized investment teams include: Franklin Templeton Real Asset Advisors, Darby Private Equity, Local Asset Management teams, Franklin Templeton Multi-Asset
Strategies®, K2 Advisors and Fiduciary Trust Company International.
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 3
Global Investment Groups
Our investment groups operate autonomously, each according to the guiding principles of its own investment
philosophy. Through these investment groups, we provide clients with access to a broad range of investment
strategies designed to meet their investment goals.
Franklin Equity Group®
The Franklin Equity Group has a perspective grounded in over 65 years of
ESTABLISHED: 1947
STYLE: Growth, Hybrid/Balanced, Value
investment experience. The group offers investors a range of investment
CAPABILITIES:
Global, Sector, Regional, Single-Country
options, managed by experienced teams and based on bottom-up security
ADVANTAGES:
selection, integrated and disciplined risk management, and an unwavering
commitment to solid long-term returns.
•Experienced investment professionals
covering all market capitalizations and styles
•Collaborative environment balances
autonomy with rigorous debate and
accountability
•Committed to its disciplined approach,
regardless of short-term market cycles
Templeton Global Equity Group
With over 70 years of experience, Templeton is a pioneer in global investment
ESTABLISHED: 1940
STYLE: Value
management. The group consistently adheres to a disciplined strategy,
CAPABILITIES:
Global, Regional
based on four fundamental cornerstones: Search Globally; Seek Value;
ADVANTAGES:
Perform Bottom-Up Research; and Practice Patient, Long-Term Investing.
•Value-focused, patient and bottom-up
investment philosophy
•Comprehensive on-the-ground coverage
All investments involve risk, including possible loss of principal.
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
Templeton Emerging Markets Group
Following Templeton’s bottom-up, long-term, value-oriented investment
ESTABLISHED: 1987
STYLE: Value
philosophy, the emerging markets team focuses on investment opportunities
CAPABILITIES:
Global, Regional, Single-Country
in emerging and frontier markets, where they can capitalize on their
ADVANTAGES:
experience, their on-the-ground presence and the dynamic economic
•Disciplined, long-term approach to
value investing
growth potential of these countries.
•Pioneer in emerging markets investing
•Research teams located around the world
provide local, firsthand understanding
of emerging markets opportunities
Mutual Series
For over six decades, Mutual Series has been dedicated to deep value
ESTABLISHED: 1949
STYLE: Deep Value
investing, seeking to purchase stocks of companies at a sizable discount
CAPABILITIES:
Global, Regional
to their perceived intrinsic value. Mutual Series is also recognized for its
ADVANTAGES:
expertise with distressed securities and merger arbitrage. While these asset
classes typically account for a small portion of the portfolios’ holdings, they
have historically helped lower overall portfolio volatility.
•Strategy combines the key elements of
investing in undervalued stocks and,
to a lesser extent, merger arbitrage and
distressed securities
•Success predicated on fundamental research
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 5
Global Investment Groups
Franklin Templeton Fixed Income Group®
This integrated global fixed income platform comprises over 100 investment
professionals located in offices around the world. The group launched its first
fixed income portfolio more than 40 years ago, and has been managing
money for the institutional market for more than 30 years.
A global fixed income leader, the group has depth and breadth of experience
in all major sectors of the fixed income market, including investment-grade
and high-yield corporate bonds, global sovereign and emerging market debt,
mortgage- and asset-backed securities, bank loans and municipal securities.
Franklin Templeton Multi-Asset Strategies
ESTABLISHED: 19706
STYLE: Fixed Income
CAPABILITIES:
Single and Multi-Sector Strategies
ADVANTAGES:
•Dedicated fixed income professionals
located around the world
•Disciplined risk management and
control measures
• Pursuit of potential alpha across securities,
sectors and global markets
ESTABLISHED: 19827
STYLE: Multi-Asset, Multi-Strategy
This global investment platform has over 30 years of experience managing
The platform leverages the investment expertise of over 580 investment
CAPABILITIES:
Global Tactical, Multi-Asset Real Return,
Target Risk, Target Date
professionals at Franklin Templeton Investments and the intellectual capital
ADVANTAGES:
of its diverse investment management groups. It combines a quantitative,
•Established global team employs timely
investment themes driven by top-down
and bottom-up views
multi-asset, multi-strategy portfolios focused on risk-adjusted performance.
tactical approach focused on fundamentals with the bottom-up views of its
dedicated research team.
•Disciplined investment approach incorporates
a multi-asset and multi-time horizon view
•Focus on creating diversified, result-oriented
portfolios by accessing multiple sources
of alpha
Franklin Templeton Local Asset Management
As one of the first global investment management firms to establish local
asset management capabilities in India (1993) and in South Korea (1997),
ESTABLISHED: 1982
STYLE: Equity and Fixed Income, Growth,
Core/Hybrid
Franklin Templeton Investments is a pioneer in local asset management.
CAPABILITIES:
Global, Regional, Single-Country
Each team’s goal is to manage its business on a global scale, focusing
ADVANTAGES:
on local investing, benchmarks and client needs, while drawing on the
•Develop portfolios based on deep local
insight and experience
deep resources and global presence of the broader Franklin Templeton
Investments organization.
•Maintain global quality standards for
compliance, service and investment process
•Leverage global risk management and
trading platforms
6. Franklin Templeton’s fixed income capabilities date back to 1970 when Franklin first began managing fixed income investment products. Franklin Templeton Fixed Income
Group (FTFIG) was formed in 2006, combining Franklin Templeton’s range of fixed income capabilities and offerings under one platform.
7. Franklin Templeton Multi-Asset Strategies (FTMAS) is a global investment management group dedicated to multi-strategy solutions and comprises individuals from
various registered entities within Franklin Templeton Investments (FTI). Certain individuals based in Canada who advise FTMAS mandates are part of Fiduciary Trust Company
of Canada™, a wholly owned subsidiary of FTI, that originated in 1982. FTMAS was formed in 2007 to combine the research and oversight of all multi-strategy investment
solutions offered by FTI. FTMAS invests in various Franklin Templeton investment platforms.
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
Franklin Templeton Real Asset Advisors®
Franklin Templeton Real Asset Advisors (originally the global real estate
team of Fiduciary Trust Company International) has been investing globally
since 1984. With an experienced and multinational team of investment
professionals, the group strives to provide investors with an efficient
alternative for investing globally in private real estate funds, private
infrastructure, real resources funds and listed real estate securities.
ESTABLISHED: 1984
STYLE: Global Private Real Estate, Global
Private Infrastructure, Real Resources,
Global Listed Real Estate Securities and
Global Listed Infrastructure
CAPABILITIES:
Multi-Sector, Multi-Region
ADVANTAGES:
•Skillful sourcing and selection capabilities
across markets drive search for superior
risk-adjusted returns
•Emphasis on risk management, seeking
downside protection
•Focus on real estate investments for
institutional investors
Darby Private Equity
Darby is a pioneering manager of emerging market private equity, mezzanine
and infrastructure funds. With over 60 investment professionals in 12 offices
around the world, the group has the breadth, experience and on-the-ground
investment capacity to source and manage investments in mid-market growth
companies and infrastructure projects in Asia, central and eastern Europe
and Latin America. Darby was established in 1994 by the former
US Secretary of the Treasury, the Honorable Nicholas F. Brady, and was
wholly acquired by Franklin Templeton Investments in 2003.
K2 Advisors8
K2 Advisors is a hedge fund solutions manager that is highly regarded for its
client-centric approach to providing investors with individualized attention
and customized programs. A pioneer in requiring the disclosure of portfolio
holdings from its managers, K2 has developed an extensive set of proprietary
analysis and risk modeling tools that help its 30 investment professionals use
portfolio data to blend the art and science of manager research with asset
allocation to construct customized alternative investment solutions that are
grounded in risk transparency.
ESTABLISHED: 1994
STYLE: Emerging Markets Private Equity
and Mezzanine Finance
CAPABILITIES:
Multi-Sector, Multi-Region
ADVANTAGES:
•Experienced local investment professionals
•Comprehensive due diligence process
used for selecting investments
•Actively engages with its portfolio
companies, seeking to build and
realize value
ESTABLISHED: 1994
STYLE: Multi- and Single-Strategy
Hedge Fund Portfolios
CAPABILITIES:
Global, Sector and Regional Custom and
Advisory Solutions, Hedge Fund Replication
ADVANTAGES:
•Established investment team using
innovative holdings-based risk analysis
for hedge fund strategies
•Disciplined risk management process and
control measures
•Pursuit of absolute returns with reduced
volatility and low correlation to traditional
equity and bond markets
8. Franklin Templeton Investments acquired a majority stake in K2 Advisors on 1 November 2012.
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 7
Managing Risk in a Complex World
Risk management is fundamental to our investment process. Investing across market cycles for over 65 years
has taught us to expect the unexpected and to have the people and processes in place to navigate both the risks
and opportunities of the global marketplace.
Risk Management at Franklin Templeton Investments
Risk is inherent to market participation. That is why we take a comprehensive, disciplined approach to
risk management, looking at risk and return from multiple angles. Our process begins with the belief that
risks must be:
Recognized
Rational
Rewarded
We strive to ensure that risks
are recognized and understood
at the security, portfolio and
operational level.
We affirm that each risk decision
is an intentional and rational
part of the portfolio’s strategy.
We seek to ensure that every
risk offers the opportunity for
a commensurate reward.
EXPERIENCED PORTFOLIO MANAGERS AND TIME-TESTED INVESTMENT STRATEGIES
Our portfolio managers and research analysts implement a fundamental, research-driven approach to asset
management across all strategies. They actively assess risk at each stage of the investment life cycle—including
during investment selection, portfolio construction and ongoing portfolio evaluation.
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
Risk Assessment at Each Stage of the Investment Life Cycle
GLOBAL RISK MANAGEMENT
Investment managers are supported by
independent risk management specialists
that are:
• Located around the globe
INVESTMENT MANAGEMENT
n
Co P
n
• Use a fundamental, consistent,
research-driven process
• Consider risk at all stages of the
investment process
• Have proven track records
Po
li o
E v arl t f oti o n
ua
io
tfol
or truction
s
• Apply disciplined risk management
techniques tailored to each team’s
specific strategies
nt
Inves
Selec tme
tio
Risk management is led first and foremost
by experienced portfolio managers who:
• Embedded to work consultatively with
portfolio teams
• Focused on providing robust analytics
and critical unbiased insight
OVERSIGHT COMMITTEES
Senior-level oversight committees are
focused on complex risk factors:
• Counterparty risk
• Pricing and liquidity
• Complex securities and derivatives
GLOBAL RISK MANAGEMENT AND PERFORMANCE SPECIALISTS
Our global portfolio teams are supported by our dedicated, independent risk management specialists who
are integrated into our global portfolio and trading groups. Located alongside portfolio managers around the
world, this team provides robust analytics and critical, unbiased insight into each portfolio’s risk profile.
COMPREHENSIVE REVIEW AND OVERSIGHT
Senior oversight committees are focused on helping portfolio managers understand some of today’s most
complex risk factors—including those associated with investing in derivatives and complex securities,
pricing and liquidity, counterparty exposure, and investing in emerging and frontier markets.
Our comprehensive, disciplined approach to managing investment risk is unique in that it leverages the specialized
expertise of our Franklin, Templeton and Mutual Series teams, each of which is backed by the strength of our
global organization. We believe this combination of expertise and global strength allows each portfolio team to
navigate today’s complex investment landscape while also maintaining a long-term perspective.
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 9
Local Investment Capabilities
Our global perspective is enhanced by our local asset management teams located around the world. Our teams
combine in-depth expertise and autonomous decision making with the global resources of Franklin Templeton
Investments, developing what we believe to be unparalleled insights into the markets we invest in. Experienced
local research teams are an integral part of our approach, which looks beyond the largest or most visible securities
in each market to include less recognizable names that meet our rigorous investment criteria. By bringing the
extensive resources of our local teams to products offered in global markets, we are able to provide investors
around the world with access to these experts’ best ideas, while maintaining our global quality standards for
compliance, risk management, client service, trading and investing.
AUSTRALIA
STYLE:
Equity
EST. 1988
BRAZIL
STYLE:
Equity, Fixed
Income and
Private Equity
EST. 1997
CANADA
STYLE:
Equity and
Fixed Income
EST. 1982
CHINA9
STYLE:
Equity and
Fixed Income
EST. 2003
EUROPE
STYLE:
Equity
EST. 2008
INDIA
STYLE:
Equity, Fixed
Income and
Private Equity
EST. 1993
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
• Large-cap Australian equity specialist (formerly managed under
Balanced Equity Management [BEM] brand)
• Fundamental, long-term value investors with consistent,
disciplined approach
• Experienced in managing core and benchmark-agnostic Brazilian
equity, core and multi-strategy fixed income, hybrid and absolute
return strategies
• Senior portfolio managers average over 13 years of investment experience
• Canadian equity, fixed income and balanced portfolios specialist
(managed under the Bissett brand)
• A distinctive, profit-driven approach to “growth at a reasonable price”
(GARP) with expertise across the yield and market capitalization
spectrum
• Separate joint ventures with Sealand Securities Company, Ltd. (China)
focused on China A-share, fixed income and QDII and QFII10 portfolios
and China Life (Hong Kong) focused on QDII and developing
international investment capabilities for China Life
• European equity specialist managing core, concentrated and
dividend-focused strategies
• A fundamental manager utilizing a long-term perspective to look
broadly across markets
• Experienced manager of a diverse range of equity, fixed income,
hybrid and private equity strategies across cycles, sectors and
market capitalizations
• The largest foreign mutual fund company in India
JAPAN11
STYLE:
Equity
EST. 1996
MALAYSIA
STYLE:
Fixed Income
and Sukuk12
EST. 2009
MEXICO
STYLE:
Fixed Income
EST. 2013
MIDDLE EAST & NORTH AFRICA
STYLE:
Equity, Fixed
Income and
Sukuk12
EST. 2006
SOUTH KOREA
• Equity specialists covering all market sectors and market capitalizations
• Fundamental research focus and robust risk management framework
• Specialist in Shariah-compliant investment strategies
(investments managed according to Islamic investment principles)
• Diversified investment capabilities including fixed income and
Sukuk asset classes
• Experienced specialist in managing Mexican investments across
currencies, cycles and sectors
• Long-term investors with a consistent, disciplined approach that seeks
to maximize return and minimize risk
• Experienced managers of Middle East and North Africa (MENA)
and East and Emerging Asia (MENASIA) equity, fixed income and
Sukuk strategies
• Experience managing in both public and private markets across
market cycles
STYLE:
Equity, Fixed
Income and
Private Equity
EST. 1997
• Focused on Korean equity, fixed income, hybrid and private
equity strategies
• First foreign-affiliated asset manager to be established in South Korea
UK
Equity
• UK equity specialist covering all market sectors and market
capitalizations
EST. 1985
• Fundamentally research-driven, active approach to managing portfolios
STYLE:
• More than 65 years managing value, growth and hybrid/balanced
equity strategies that cover US, global and sector specialties
STYLE:
US13
Equity and
Fixed Income
EST. 1947
VIETNAM9
• Over 40 years managing US and global fixed income, with breadth
and depth of experience in all major taxable and tax-free sectors
STYLE:
Equity, Fixed
Income and
Private Equity
• Joint venture with Vietcombank, one of Vietnam’s largest banking groups
• One of the first foreign joint ventures to be established in Vietnam
EST. 2008
9. Minority interest in joint venture.
10. QDII refers to Qualified Domestic Institutional Investor and QFII refers to Qualified Foreign Institutional Investor.
11. Offered through sub-delegation to a designated third-party asset management company.
12. Sukuk—a financial certificate similar to a bond in Islam that complies with Islamic religious laws of Shariah.
13. Franklin Templeton Distributors, Inc. is the primary underwriter of Franklin Templeton US-registered mutual funds.
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 11
Global Perspective with
Local Expertise
™
As the global economy has become increasingly complex and interconnected, the nature of global investing
has continued to evolve. True global diversification requires more than analyzing international markets from
afar; it requires firsthand knowledge and an understanding of local market nuances.
Resources on the Ground, Across the Globe
Calgary
Montreal
Toronto
Boston
Dublin
Fort Lauderdale
Fort Lee
Los Angeles
Miami
New York City
Rancho Cordova
Salt Lake City St. Petersburg
San Mateo
Washington, D.C.
Short Hills
Wilmington
Stamford14
Nassau
Mexico City
Bogotá15
Rio de Janeiro
São Paulo
u
Presence
in 35 countries
u
44
research offices
u
12
global trading offices
14. Majority ownership interest.
15. Includes joint venture partners with Franklin Templeton Investments.
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
Buenos Aires
As a pioneer in global investing, our perspective is built on decades of experience navigating the world’s local
markets. During that time, we have expanded our footprint to include research, trading, sales and operations
offices that now span the globe.
Edinburgh
Leeds
London
Stockholm
Amsterdam
Beijing
Shanghai15
Moscow
Frankfurt
Milan
Geneva
Zürich
Luxembourg
Budapest
Bucharest
Istanbul
Paris
Seoul
Poznań
Warsaw
Vienna
Bratislava
Tokyo
Dubai
Hong Kong
Chennai
Hyderabad
Mumbai
Bangkok
Brussels
Ho Chi Minh City15
Madrid
Singapore
Kuala Lumpur
Cape Town
Johannesburg
Melbourne
Sydney
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 13
Strength and Stability
We take a long-term, strategic approach to investing that has helped us thrive through market highs and lows
over the past 65 years. Investors seeking a trusted partner are encouraged by the strong, long-term performance
record of our products.
In addition, fiscal responsibility is embedded in all aspects of our business. At Franklin Resources, Inc. (operating
as Franklin Templeton Investments), our solid financial track record includes conservative balance sheet management
practices, substantial liquid cash and investments, and access to additional liquidity. Furthermore, our credit
ratings are among the highest of any asset management company.16
1992
1947
A Pioneer in Global Investing
Franklin Resources, Inc. is founded
by Rupert H. Johnson Sr.,
head of a successful Wall Street
retail brokerage
1971
Franklin acquires
Templeton—at the time,
this represented the largest
merger of an independent
mutual fund company
in history
Franklin becomes a publicly
traded company
Sir John Templeton founds
Templeton, Dobbrow & Vance, Inc.
in New York
1991
1987
Franklin establishes
fixed income
capabilities
1984
1940
1970
Templeton Emerging Markets
team, led by Dr. Mark Mobius,
begins investing in
emerging markets
Templeton begins
distributing cross-border
SICAV funds
Franklin Templeton Real Asset Advisors
(originally the global real estate team of
Fiduciary Trust Company International)
begins investing in global real estate
16. For Franklin Resources, Inc.: Standard & Poor’s long-term and short-term ratings are AA- and A-1+. Moody’s long-term and short-term ratings are A1 and P-1. Ratings do not apply
to Franklin Templeton Investments’ underlying products/funds and are subject to change.
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
In much the same way that portfolio diversification helps reduce risk, our asset base, diversified by investment
objective and sales region, has served as a key strength, particularly during challenging market conditions. In
fact, coming out of the recent global recession—one of the worst economic crises since the creation of mutual
Franklin Templeton Investments
acquires Fiduciary Trust Company
International (established in 1931)
2003
One of the first
global firms to
establish operations
in South Korea
One of the first global
firms to establish
operations in India17
2000s
1993
1997
Franklin Templeton
Investments acquires
Mutual Series
(established in 1949)
Franklin Templeton Investments
acquires Darby, a private equity
group (established in 1994
by the former US Secretary
of the Treasury,
Nicholas F. Brady)
Franklin Templeton Investments
continues to expand local asset
management capabilities, opening
additional offices in:
–Australia
–Canada
–China
–Malaysia
–MENA
–United Kingdom
–Vietnam
Strategic investments and
acquisitions (China Life,
Sealand Securities Company, Ltd.,
Vietcombank Fund Management,
Pelagos Capital Management, LLC,
Algebra Capital, Rensburg,
Balanced Equity Management
and K2 Advisors) broaden and
diversify the business
Franklin Templeton Investments
is widely regarded as one of
the strongest and most stable
independent global asset
management firms in the world
2013
1996
2001
2007–2012
funds—we emerged stronger than ever, with our assets under management rebounding to above pre-crisis highs.
17. Originally managed under Pioneer ITI Asset Management—acquired in 2002.
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 15
­­­­­­A Valued Partner
At Franklin Templeton Investments, we believe the strength of our relationships and the trust our business
partners and clients place in us are critical to our success. Our core values of Putting Clients First, Building
Relationships, Achieving Quality Results and Working with Integrity define the way we do business.
Throughout our history, a steadfast commitment to these values has guided our decision making and
been a key differentiator for our company.
Serving Our Clients
Every time we interact with our clients an opportunity is presented. We strive to seize these opportunities to not
only meet their expectations, but to exceed them.
Our range of products and services is tailored to meet the needs of our diverse set of clients, which includes financial
advisors, gatekeepers, retail shareholders and institutional investors.
We offer a comprehensive suite of services that addresses evolving investor needs and the increasing sophistication
of intermediaries and gatekeepers. As our business has grown, we have continued to build an integrated global
service platform that can adapt quickly and cohesively. In addition, our extensive web presence, innovative
marketing tools and customized support are designed to help financial advisors achieve success.
Enduring Relationships with Advisors and Institutions
Our dedication to customer service has translated into a network of longstanding relationships. For example,
22% of our global institutional relationships have been in place for over 10 years and the tenure of our distribution
relationships with the largest US retail firms averages 30 years.18
With 240,000 active financial advisor relationships19 around the globe, Franklin Templeton Investments is one of
the most trusted sources of investment products and services worldwide.
18. As of 31 December 2012.
19. As of 31 December 2012. Based on data collected from the United States, Canada, India and Japan and sales of cross-border funds worldwide.
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F R A N K L I N T E M P L E TO N I N V E S T M E N T S
Franklin Templeton Investments
Glo bal Hea d q ua rt e rs • Sa n M at e o, Ca l i f o r n i a
F R A N K L I N T E M P L E TO N I N V E S T M E N T S 17
A true citizen of the world, Benjamin Franklin brought a global perspective
to his work as a statesman, scientist and philanthropist. As one of the
Founding Fathers of the United States, he epitomized the ideas of frugality and
prudence when it came to saving and investing. His valuable wisdom inspired the
name of our firm at its founding in 1947 and continues to inspire us today.
[insert local website address]
Investments entail risks, the value of investments can go down as well as up, and investors may not get back the full amount invested.
Important Legal Information
This document is intended to be of general interest only, and does not constitute legal or tax advice nor is it an offer of any investment
fund or service. Nothing in this document should be construed as investment advice. Investors should seek professional financial advice
and obtain a full explanation of any proposed investment before making a decision to invest. The descriptions in this document are
intended to provide a general overview of our investment philosophy, strategies, services and other related matters. Any research and
analysis contained in this document has been procured by Franklin Templeton Investments for its own purposes and is provided to you
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