Fund Evaluator:

Franklin Mutual International Value R Overview

Franklin Mutual International Value R (FMURX) is an actively managed International Equity Foreign Large Value fund. Franklin Templeton Investments launched the fund in 2009.

The investment seeks capital appreciation; income is a secondary consideration. Under normal market conditions, the fund invests at least 80% of its net assets in securities of issuers outside the United States. The equity securities in which the fund invests are primarily common stock. To a lesser extent, the fund also invests in securities involving merger arbitrage and the debt and equity of stressed or distressed companies.

About Franklin Mutual International Value R (FMURX)

There are 2 members of the management team with an average tenure of 5.92 years: Mandana Hormozi (2018), Timothy Rankin (2023). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI EAFE Value NR USD index with a weighting of 100%. Franklin Mutual International Value R has 56 securities in its portfolio. The top 10 holdings constitute 28.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Franklin Mutual International Value R is part of the Equity global asset class and is within the International Equity fund group. Franklin Mutual International Value R has 91.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 4.5%. There is 91.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Franklin Mutual International Value R has 1.7% of the portfolio in cash.

Assets Under Management

The fund has $10 million in total assets, which is below the $976 million average for the Foreign Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FMURX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Franklin Mutual International Value R expense ratio is high compared to funds in the Foreign Large Value category. Franklin Mutual International Value R has an expense ratio of 1.47%, which is 40% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Franklin Mutual International Value R has a portfolio turnover rate of 51%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Value category.

Recently, in the month of July 2026, Franklin Mutual International Value R returned 7.1%, which earned it a grade of A, as the Foreign Large Value category had an average return of 3.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Franklin Mutual International Value R has a trailing yield of 2.80%, which is above the 2.78% category average. The fund normally distributes its income semi-monthly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Franklin Mutual International Value R Grades

Year to date, the fund has returned 8.9%, 6.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 23.2% over the past year (grade of F), 17.0% over the past three years (grade of D) and 13.0% per year over the past five years (grade of B) and 9.5% per year over the past 10 years (grade of C).

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