Franklin Mutual International Value Fund Q1 2025 Commentary

2025-04-30 22:00:00 ET

Summary

• International equities rose in Q1 2025, driven by economic improvements in Europe and Asia, and interest-rate cuts by ECB and BoE.
• Strong stock selection in financials and industrials, and an underweight in materials, boosted relative performance; Deutsche Bank and Prudential were key contributors.
• Overweight in information technology and underweight in utilities and health care hurt performance; Denso and Kering were notable detractors.
• Despite trade and geopolitical uncertainties, low valuations and policy shifts in Europe present compelling investment opportunities; focus remains on undervalued stocks with catalysts for growth.

Franklin Mutual International Value Fund as of March 31, 2025 Average annual total returns and fund expenses (%) ...

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