Franklin Mutual Global Discovery - Bronze

FUND RESEARCH UPDATE: Fund rating downgraded to Bronze

Francesco Paganelli 23 July, 2015 | 4:04PM
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Following a recent Morningstar Analyst Ratings Meeting, we have downgraded the European version of the Franklin Mutual Global Discovery fund to a Morningstar Analyst Rating™ of Bronze. The fund was previously rated Silver. Although we maintain a positive conviction in the fund’s ability to stand out relative to category average over a full market cycle, and still have a high opinion of the seasoned leadership at its helm, investors should note that this fund is not managed as a clone of the US-sold version (MDISX, rated Silver). As such, the difference across these funds might lead to divergences in terms of performance. The SICAV fund´s execution over the managers’ tenure has not been impressive and, unlike the US fund, it’s more expensive than the median peer in its Morningstar Category.  Albeit we still think that the fund is a strong choice for contrarian investors, a number of factors make this version relatively less compelling than the US-sold fund, and we believe a Bronze rating provides a better reflection of our current conviction in the product.

See the latest Morningstar fund rating news here.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Franklin Mutual Glbl DiscvA(acc)USD27.34 USD-0.51Rating

About Author

Francesco Paganelli  is a Fund Analyst for Morningstar in Italy

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