0001752724-24-051089.txt : 20240308
0001752724-24-051089.hdr.sgml : 20240308
20240308120119
ACCESSION NUMBER: 0001752724-24-051089
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 5
CONFORMED PERIOD OF REPORT: 20231231
FILED AS OF DATE: 20240308
DATE AS OF CHANGE: 20240308
EFFECTIVENESS DATE: 20240308
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: FRANKLIN MUTUAL SERIES FUNDS
CENTRAL INDEX KEY: 0000825063
ORGANIZATION NAME:
IRS NUMBER: 222894171
STATE OF INCORPORATION: FL
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-05387
FILM NUMBER: 24733155
BUSINESS ADDRESS:
STREET 1: 101 JOHN F KENNEDY PARKWAY
CITY: SHORT HILLS
STATE: NJ
ZIP: 07078
BUSINESS PHONE: 973-912-2000
MAIL ADDRESS:
STREET 1: 101 JOHN F KENNEDY PARKWAY
CITY: SHORT HILLS
STATE: NJ
ZIP: 07078
FORMER COMPANY:
FORMER CONFORMED NAME: FRANKLIN MUTUAL SERIES FUND INC
DATE OF NAME CHANGE: 19970227
FORMER COMPANY:
FORMER CONFORMED NAME: MUTUAL SERIES FUND INC
DATE OF NAME CHANGE: 19920703
0000825063
S000007860
FRANKLIN MUTUAL BEACON FUND
C000021373
CLASS A
TEBIX
C000021375
CLASS C
TEMEX
C000021376
CLASS Z
BEGRX
C000082421
CLASS R
C000128727
Class R6
FMBRX
0000825063
S000007861
FRANKLIN MUTUAL GLOBAL DISCOVERY FUND
C000021377
CLASS A
TEDIX
C000021379
CLASS C
TEDSX
C000021380
CLASS Z
MDISX
C000021381
CLASS R
TEDRX
C000128728
Class R6
FMDRX
0000825063
S000007862
FRANKLIN MUTUAL INTERNATIONAL VALUE FUND
C000021382
CLASS A
TEMIX
C000021384
CLASS C
TEURX
C000021385
CLASS Z
MEURX
C000082422
CLASS R
FMURX
C000128729
Class R6
FMEUX
0000825063
S000007863
FRANKLIN MUTUAL QUEST FUND
C000021386
CLASS A
TEQIX
C000021388
CLASS C
TEMQX
C000021389
CLASS Z
MQIFX
C000078832
CLASS R
FMQSX
C000128730
Class R6
FMQRX
0000825063
S000007864
FRANKLIN MUTUAL SHARES FUND
C000021390
CLASS A
TESIX
C000021392
CLASS C
TEMTX
C000021393
CLASS Z
MUTHX
C000021394
CLASS R
TESRX
C000128731
Class R6
FMSHX
0000825063
S000007865
FRANKLIN MUTUAL FINANCIAL SERVICES FUND
C000021395
CLASS A
TFSIX
C000021397
CLASS C
TMFSX
C000021398
CLASS Z
TEFAX
C000128732
Class R6
FMFVX
N-CEN
1
primary_doc.xml
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0000825063
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811-05387
true
false
false
N-1A
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Franklin Mutual Series Funds
811-05387
0000825063
549300DW3N5FG4OTT022
101 John F. Kennedy Parkway
Short Hills
07078-2716
US-NJ
US
973-912-2000
The Bank of New York Mellon
111 Sanders Creek Parkway
East Syracuse
13057
855-231-1706
Records related to its functions as Custodian
Franklin Templeton Services, LLC
One Franklin Parkway
San Mateo
94403-1906
650-312-2000
Records related to its functions as Administrative manager
Franklin Templeton Investor Services, LLC
One Franklin Parkway
San Mateo
94403-1906
650-312-2000
Records related to its functions as Transfer agent
JPMorgan Chase Bank, N.A.
390 Madison Avenue
New York
10017
212-464-1909
Records related to its functions as Custodian
Franklin Mutual Advisers, LLC
101 John F. Kennedy Parkway
Short Hills
New Jersey
07078-2789
973-912-2000
Records related to its functions as Investment manager
Franklin Distributors, LLC
One Franklin Parkway
San Mateo
94403-1906
650-312-2000
Records related to its functions as Principal underwriter
FIS Investor Services, LLC /TA
4249 Easton Way Suite 400
Columbus
43219
614-337-6605
Records related to its functions as Sub-Transfer agent
JPMorgan Chase Bank, N.A.
380 Madison Avenue
New York
10017
212-270-6000
Records relating to its functions as Sub-Administrator and Fund Accounting Agent
N
N
N-1A
6
Y
Keith E. Mitchell
N/A
N
Gregory E. Johnson
N/A
Y
Jan Hopkins Trachtman
N/A
N
Ann Torre Bates
N/A
N
Jennifer M. Johnson
N/A
Y
Valerie M. Williams
N/A
N
David W. Niemiec
N/A
N
Ted P. Becker
N/A
280 Park Avenue
New York
10017
XXXXXX
Y
N
N
N
N
N
Franklin Distributors, LLC
8-5889
000000332
N/A
Y
N
ERNST & YOUNG LLP
42
N/A
N
N
N
N
N
N
Franklin Mutual Beacon Fund
S000007860
2P5J8F77YSRTYSP23G45
N
5
0
0
N/A
N
N
Y
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Revenue sharing split
0.00000000
0.00000000
Rule 32a-4 (17 CFR 270.32a-4)
Rule 18f-4 (17 CFR 270.18f-4)
Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))
Rule 22d-1 (17 CFR 270.22d-1)
Y
Y
N
N
Franklin Mutual Advisers, LLC
801-53068
000111376
549300700KN6X7XAH545
N
Franklin Templeton Investor Services, LLC
084-01036
N/A
Y
N
FIS Investor Services, LLC /TA
084-06522
N/A
N
Y
N
LSEG
000109120
CRD
N
ICE Data Pricing & Reference Data, LLC
5493000NQ9LYLDBCTL34
LEI Number
N
N
Standard Chartered Bank (Singapore) Limited
549300MDYVVHJ8D1DW28
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
MUFG Bank, Ltd.
C3GTMMZIHMY46P4OIX74
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU00Q28E4NONFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
FR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
CIBC Mellon Trust Company
549300IYUUH221WBZ505
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Credit Suisse Switzerland Ltd
549300CWR0W0BCS9Q144
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Y
Franklin Templeton Investor Services, LLC
084-01036
SEC File Number
Y
N
N
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
Y
Franklin Templeton Services, LLC
549300DFD0POOJZ42788
Y
N
N
Franklin Distributors, LLC
8-5889
000000332
N/A
0.00000000
Franklin Templeton Investment Services, Inc.
8-43206
000027884
N/A
0.00000000
Franklin Templeton Financial Services Corp.
8-29504
000013594
N/A
0.00000000
Cowen and Company
8-22522
000007616
549300WR155U7DVMIW58
100899.00000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
51449.18000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
298008.70000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
156324.65000000
Sanford C. Bernstein & Co., LLC
8-52942
000104474
549300I7JYZHT7D5CO04
84041.30000000
Evercore Group L.L.C.
8-49830
000042405
5493008F0LRLS5N8LZ81
34396.08999999
REDBURN (USA) LLC
8-67320
000140564
N/A
43764.74000000
UBS Securities LLC
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
56356.60000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
82230.81000000
Merrill Lynch, Pierce, Fenner & Smith Inc.
8-07221
000007691
8NAV47T0Y26Q87Y0QP81
300048.81000000
1506568.43000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
3382140921.03000020
Bank of New York Mellon Corp.
N/A
N/A
WFLLPEPC7FZXENRZV188
793853530.98000002
Credit Suisse Securities (USA) LLC
8-00422
000000816
1V8Y6QCX6YMJ2OELII46
745000000.00000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
11942401962.29999900
16863396414.31000000
Y
3010462156.69000000
Committed
2675000000.00000000
N
N
N
N
Franklin Mutual Quest Fund
S000007863
NWF7KZ3BJ6U1TY06BL48
N
5
0
0
N/A
N
N
Y
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Revenue sharing split
210875.84300000
9961.00000000
Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))
Rule 22d-1 (17 CFR 270.22d-1)
Rule 18f-4 (17 CFR 270.18f-4)
Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
N
N
Franklin Mutual Advisers, LLC
801-53068
000111376
549300700KN6X7XAH545
N
FIS Investor Services, LLC /TA
084-06522
N/A
N
Y
Franklin Templeton Investor Services, LLC
084-01036
N/A
Y
N
N
LSEG
000109120
CRD
N
ICE Data Pricing & Reference Data, LLC
5493000NQ9LYLDBCTL34
LEI Number
N
S&P Global
2138005LTLTVZ4WMEX25
LEI Number
GB
N
Bloomberg L.P.
549300B56MD0ZC402L06
LEI Number
N
N
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
FR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
MUFG Bank, Ltd.
C3GTMMZIHMY46P4OIX74
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
CIBC Mellon Trust Company
549300IYUUH221WBZ505
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Hongkong and Shanghai Banking Corporation
2HI3YI5320L3RW6NJ957
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Franklin Templeton Investor Services LLC
N/A
Y
N
Self - rule 17f-2 (17 CFR 270.17f-2)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU00Q28E4NONFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
Franklin Templeton Investor Services, LLC
084-01036
SEC File Number
Y
N
N
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
Y
Franklin Templeton Services, LLC
549300DFD0POOJZ42788
Y
N
N
Franklin Distributors, LLC
8-5889
000000332
N/A
0.00000000
Franklin Templeton Financial Services Corp.
8-29504
000013594
N/A
0.00000000
Franklin Templeton Investment Services, Inc.
8-43206
000027884
N/A
0.00000000
Evercore Group L.L.C.
8-49830
000042405
5493008F0LRLS5N8LZ81
88023.40000000
Merrill Lynch, Pierce, Fenner & Smith Inc.
8-07221
000007691
8NAV47T0Y26Q87Y0QP81
66110.50000000
UBS Securities LLC
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
139971.66000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
203132.95000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
147420.81000000
Sanford C. Bernstein & Co., LLC
8-52942
000104474
549300I7JYZHT7D5CO04
325594.31000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
193782.34000000
RBC Capital Markets, LLC
8-45411
000031194
549300LCO2FLSSVFFR64
135387.44000000
Liquidnet, Inc.
8-52461
000103987
213800HSKBBO1GCVRG79
65670.31000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
77242.07000000
2185363.14000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
33191462394.60010100
Merrill Lynch, Pierce, Fenner & Smith Inc.
8-07221
000007691
8NAV47T0Y26Q87Y0QP81
204780372.58000001
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
11835509464.17000000
Credit Suisse Securities (USA) LLC
8-00422
000000816
1V8Y6QCX6YMJ2OELII46
1745800000.00000000
Goldman Sachs & Co. LLC
8-00129
000000361
FOR8UP27PHTHYVLBNG30
68882502.14000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
69152348.89000000
BofA Securities, Inc.
8-69787
000283942
549300HN4UKV1E2R3U73
109758823.87000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
149571078.48000000
Bank of New York Mellon Corp.
N/A
N/A
WFLLPEPC7FZXENRZV188
3451734084.80999990
Deutsche Bank Securities Inc.
8-17822
000002525
9J6MBOOO7BECTDTUZW19
82080829.40000000
51058308612.02000000
Y
2650662217.50000000
Committed
2675000000.00000000
N
N
N
N
Franklin Mutual Shares Fund
S000007864
QOET654RR8JMYG00F771
N
5
0
0
N/A
N
N
Y
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Revenue sharing split
5192241.94000000
1704434.00000000
Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))
Rule 18f-4 (17 CFR 270.18f-4)
Y
Y
N
N
Franklin Mutual Advisers, LLC
801-53068
000111376
549300700KN6X7XAH545
N
Franklin Templeton Investor Services, LLC
084-01036
N/A
Y
N
FIS Investor Services, LLC /TA
084-06522
N/A
N
Y
N
Bloomberg L.P.
549300B56MD0ZC402L06
LEI Number
N
S&P Global
2138005LTLTVZ4WMEX25
LEI Number
GB
N
LSEG
000109120
CRD
N
ICE Data Pricing & Reference Data, LLC
5493000NQ9LYLDBCTL34
LEI Number
N
N
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU00Q28E4NONFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Y
Franklin Templeton Investor Services, LLC
084-01036
SEC File Number
Y
N
N
Franklin Templeton Services, LLC
549300DFD0POOJZ42788
Y
N
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
Y
N
Franklin Distributors, LLC
8-5889
000000332
N/A
0.00000000
Franklin Templeton Financial Services Corp.
8-29504
000013594
N/A
0.00000000
Franklin Templeton Investment Services, Inc.
8-43206
000027884
N/A
0.00000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
102012.66000000
Sanford C. Bernstein & Co., LLC
8-52942
000104474
549300I7JYZHT7D5CO04
129251.43000000
UBS Securities LLC
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
63864.70000000
Evercore Group L.L.C.
8-49830
000042405
5493008F0LRLS5N8LZ81
96161.30000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
84113.70000000
RBC Capital Markets, LLC
8-45411
000031194
549300LCO2FLSSVFFR64
134170.10000000
Keefe, Bruyette & Woods, Inc.
8-10888
000000481
549300OM47DQV01G4854
56611.07000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
216578.73000000
Citigroup Global Markets Inc.
8-08177
000007059
MBNUM2BPBDO7JBLYG310
56714.84000000
Truist Securities, Inc.
8-17212
000006271
CSVTK36R0PNGXEM7NS14
64016.43000000
1515527.44000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
15411309376.51000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
68857978.89000000
BofA Securities, Inc.
8-69787
000283942
549300HN4UKV1E2R3U73
79148516.49000000
Wells Fargo Securities LLC
8-65876
000126292
VYVVCKR63DVZZN70PB21
30366062.71000000
Credit Suisse Securities (USA) LLC
8-00422
000000816
1V8Y6QCX6YMJ2OELII46
1762200000.00000000
Citigroup Global Markets Inc.
8-08177
000007059
MBNUM2BPBDO7JBLYG310
121659304.97000000
Goldman Sachs & Co. LLC
8-00129
000000361
FOR8UP27PHTHYVLBNG30
40755025.00000000
Bank of New York Mellon Corp.
N/A
N/A
WFLLPEPC7FZXENRZV188
11042061758.17000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
26065745.21000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
36594731591.37000300
65222570246.22000000
Y
6840565621.60000000
Committed
2675000000.00000000
N
N
N
N
Franklin Mutual Financial Services Fund
S000007865
PBVS5HOGS4QFZMXTTD93
N
4
0
0
N/A
N
N
Y
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Revenue sharing split
8887.52333000
71.00000000
Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
Rule 18f-4 (17 CFR 270.18f-4)
Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))
Y
Y
N
N
Franklin Mutual Advisers, LLC
801-53068
000111376
549300700KN6X7XAH545
N
FIS Investor Services, LLC /TA
084-06522
N/A
N
Y
Franklin Templeton Investor Services, LLC
084-01036
N/A
Y
N
N
LSEG
000109120
CRD
N
Bloomberg L.P.
549300B56MD0ZC402L06
LEI Number
N
ICE Data Pricing & Reference Data, LLC
5493000NQ9LYLDBCTL34
LEI Number
N
N
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
FR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Franklin Templeton Investor Services LLC
N/A
Y
N
Self - rule 17f-2 (17 CFR 270.17f-2)
Banco Bilbao Vizcaya Argentaria
K8MS7FD7N5Z2WQ51AZ71
ES
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
UniCredit Bank Austria AG
D1HEB8VEU6D9M8ZUXG17
AT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Hongkong and Shanghai Banking Corporation
2HI3YI5320L3RW6NJ957
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Singapore) Limited
549300MDYVVHJ8D1DW28
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU00Q28E4NONFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
Franklin Templeton Investor Services, LLC
084-01036
SEC File Number
Y
N
N
Franklin Templeton Services, LLC
549300DFD0POOJZ42788
Y
N
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
Y
N
Franklin Templeton Financial Services Corp.
8-29504
000013594
N/A
0.00000000
Franklin Templeton Investment Services, Inc.
8-43206
000027884
N/A
0.00000000
Franklin Distributors, LLC
8-5889
000000332
N/A
0.00000000
Cowen and Company
8-22522
000007616
549300WR155U7DVMIW58
2558.00000000
Keefe, Bruyette & Woods, Inc.
8-10888
000000481
549300OM47DQV01G4854
4777.02000000
Citigroup Global Markets Inc.
8-08177
000007059
MBNUM2BPBDO7JBLYG310
7097.55000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
7301.09000000
Sanford C. Bernstein & Co., LLC
8-52942
000104474
549300I7JYZHT7D5CO04
7342.73000000
Liberum
8-67976
000148135
N/A
2802.79000000
Evercore Group L.L.C.
8-49830
000042405
5493008F0LRLS5N8LZ81
8527.31000000
RBC Capital Markets, LLC
8-45411
000031194
549300LCO2FLSSVFFR64
10045.44000000
Dowling & Partners Securities, LLC
8-35658
000024746
254900NTPWGHA2OLDV63
10235.44000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
17247.87000000
95054.51000000
Credit Suisse Securities (USA) LLC
8-00422
000000816
1V8Y6QCX6YMJ2OELII46
181000000.00000000
Bank of New York Mellon Corp.
N/A
N/A
WFLLPEPC7FZXENRZV188
71178219.93000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
2686024950.19999980
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
8798777.77999999
Goldman Sachs & Co. LLC
8-00129
000000361
FOR8UP27PHTHYVLBNG30
936000.00000000
2947937947.91000000
Y
341403970.87000000
Committed
2675000000.00000000
N
N
N
N
Franklin Mutual Global Discovery Fund
S000007861
MCWMYIJMNSM9HLUJFK91
N
5
0
0
N/A
N
N
Y
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Revenue sharing split
0.00000000
0.00000000
Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))
Rule 18f-4 (17 CFR 270.18f-4)
Rule 22d-1 (17 CFR 270.22d-1)
Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))
Rule 32a-4 (17 CFR 270.32a-4)
Y
N
N
N
Franklin Mutual Advisers, LLC
801-53068
000111376
549300700KN6X7XAH545
N
FIS Investor Services, LLC /TA
084-06522
N/A
N
Y
Franklin Templeton Investor Services, LLC
084-01036
N/A
Y
N
N
ICE Data Pricing & Reference Data, LLC
5493000NQ9LYLDBCTL34
LEI Number
N
S&P Global
2138005LTLTVZ4WMEX25
LEI Number
GB
N
LSEG
000109120
CRD
N
Bloomberg L.P.
549300B56MD0ZC402L06
LEI Number
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
MUFG Bank, Ltd.
C3GTMMZIHMY46P4OIX74
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Singapore) Limited
549300MDYVVHJ8D1DW28
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU00Q28E4NONFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
FR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
CIBC Mellon Trust Company
549300IYUUH221WBZ505
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank AG
7LTWFZYICNSX8D621K86
KR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Banco Bilbao Vizcaya Argentaria
K8MS7FD7N5Z2WQ51AZ71
ES
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Y
Franklin Templeton Investor Services, LLC
084-01036
SEC File Number
Y
N
N
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
Y
Franklin Templeton Services, LLC
549300DFD0POOJZ42788
Y
N
N
Franklin Distributors, LLC
8-5889
000000332
N/A
0.00000000
Franklin Templeton Financial Services Corp.
8-29504
000013594
N/A
0.00000000
Franklin Templeton Investment Services, Inc.
8-43206
000027884
N/A
0.00000000
Sanford C. Bernstein & Co., LLC
8-52942
000104474
549300I7JYZHT7D5CO04
287046.13000000
Berenberg Capital Markets LLC
8-68821
000156757
5493007EG0CYRKKG9L11
180484.39000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
302166.49000000
UBS Securities LLC
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
132975.22000000
REDBURN (USA) LLC
8-67320
000140564
N/A
200393.67000000
SMBC Nikko Securities America, Inc.
8-43852
000028602
6PJDTY319315T5LR2241
159623.95000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
381568.29000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
398297.84000000
Merrill Lynch, Pierce, Fenner & Smith Inc.
8-07221
000007691
8NAV47T0Y26Q87Y0QP81
255609.80000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
148584.94000000
3598369.50000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
31356279.98000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
12766450398.08000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
29063695868.88000000
Bank of New York Mellon Corp.
N/A
N/A
WFLLPEPC7FZXENRZV188
4769026935.22000000
Deutsche Bank Securities Inc.
8-17822
000002525
9J6MBOOO7BECTDTUZW19
15703623.03000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
11915510.90000000
BofA Securities, Inc.
8-69787
000283942
549300HN4UKV1E2R3U73
85195039.15000000
Credit Suisse Securities (USA) LLC
8-00422
000000816
1V8Y6QCX6YMJ2OELII46
1657300000.00000000
Citigroup Global Markets Inc.
8-08177
000007059
MBNUM2BPBDO7JBLYG310
35114869.89000000
Merrill Lynch, Pierce, Fenner & Smith Inc.
8-07221
000007691
8NAV47T0Y26Q87Y0QP81
10375307.50000000
48446133832.63000000
Y
8807882080.65000000
Committed
2675000000.00000000
N
N
N
N
Franklin Mutual International Value Fund
S000007862
RLTH36HD42VD8KSXLM66
N
5
0
0
N/A
N
N
Y
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Revenue sharing split
597467.85800000
1644.00000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 18f-4 (17 CFR 270.18f-4)
Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
N
N
Franklin Mutual Advisers, LLC
801-53068
000111376
549300700KN6X7XAH545
N
FIS Investor Services, LLC /TA
084-06522
N/A
N
Y
Franklin Templeton Investor Services, LLC
084-01036
N/A
Y
N
N
LSEG
000109120
CRD
N
Bloomberg L.P.
549300B56MD0ZC402L06
LEI Number
N
ICE Data Pricing & Reference Data, LLC
5493000NQ9LYLDBCTL34
LEI Number
N
N
Citibank Europe Plc
N1FBEDJ5J41VKZLO2475
GR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU00Q28E4NONFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Credit Suisse Switzerland Ltd
549300CWR0W0BCS9Q144
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Hongkong and Shanghai Banking Corporation
2HI3YI5320L3RW6NJ957
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Singapore) Limited
549300MDYVVHJ8D1DW28
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
CIBC Mellon Trust Company
549300IYUUH221WBZ505
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
BE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
FR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Deutsche Bank AG
7LTWFZYICNSX8D621K86
KR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
MUFG Bank, Ltd.
C3GTMMZIHMY46P4OIX74
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon SA/NV
MMYX0N4ZEZ13Z4XCG897
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Y
Franklin Templeton Investor Services, LLC
084-01036
SEC File Number
Y
N
N
JPMorgan Chase Bank, N.A.
7H6GLXDRUGQFU57RNE97
N
Y
Franklin Templeton Services, LLC
549300DFD0POOJZ42788
Y
N
N
Franklin Distributors, LLC
8-5889
000000332
N/A
0.00000000
Franklin Templeton Financial Services Corp.
8-29504
000013594
N/A
0.00000000
Franklin Templeton Investment Services, Inc.
8-43206
000027884
N/A
0.00000000
Kepler Capital Markets, Inc.
8-67194
000139148
254900VCHS9DMDUVZN16
29424.00000000
Berenberg Capital Markets LLC
8-68821
000156757
5493007EG0CYRKKG9L11
32562.35000000
Sanford C. Bernstein & Co., LLC
8-52942
000104474
549300I7JYZHT7D5CO04
57283.94000000
Daiwa Capital Markets America Inc.
8-12242
000001576
M67H5PRC0NQKM73ZAS82
43400.83000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
142241.60000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
42180.16000000
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
83608.35000000
SMBC Nikko Securities America, Inc.
8-43852
000028602
6PJDTY319315T5LR2241
66109.57000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
62326.33000000
Merrill Lynch, Pierce, Fenner & Smith Inc.
8-07221
000007691
8NAV47T0Y26Q87Y0QP81
152175.29000000
902877.03000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
5131461455.55000000
Barclays Capital, Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
40093986.30000000
Bank of New York Mellon Corp.
N/A
N/A
WFLLPEPC7FZXENRZV188
62423889.95000000
Credit Suisse Securities (USA) LLC
8-00422
000000816
1V8Y6QCX6YMJ2OELII46
248400000.00000000
5482379331.80000000
Y
755502552.50000000
Committed
2675000000.00000000
N
N
N
N
false
false
true
false
true
false
INTERNAL CONTROL RPT
2
FMSF_NCEN_Letter_12.2023.txt
Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Trustees
of Franklin Mutual Series Funds
In planning and performing our audits of the financial statements
of Franklin Mutual Series Funds (the "Trust") (comprising
Franklin Mutual Shares Fund, Franklin Mutual Quest Fund,
Franklin Mutual Beacon Fund, Franklin Mutual Global Discovery
Fund, Franklin Mutual International Value Fund (formerly,
Franklin Mutual European Fund), and Franklin Mutual Financial
Services Fund (collectively referred to as, the "Funds")) as of and
for the year ended December 31, 2023, in accordance with the
standards of the Public Company Accounting Oversight Board
(United States) (PCAOB), we considered the Trust's internal
control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form
N-CEN, but not for the purpose of expressing an opinion on the
effectiveness of the Trust's internal control over financial
reporting. Accordingly, we express no such opinion.
The management of the Trust is responsible for establishing and
maintaining effective internal control over financial reporting. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A company's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with U.S. generally accepted accounting principles. A
company's internal control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with U.S. generally accepted accounting principles,
and that receipts and expenditures of the company are being made
only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company's assets that could
have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are
subject to the risk that controls may become inadequate because of
changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a material
misstatement of the Funds' annual or interim financial statements
will not be prevented or detected on a timely basis.
Our consideration of the Trust's internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control that might be material weaknesses under standards
established by the PCAOB. However, we noted no deficiencies in
the Trust's internal control over financial reporting and its
operation, including controls over safeguarding securities, that we
consider to be a material weakness as defined above as of
December 31, 2023.
This report is intended solely for the information and use of
management and the Board of Trustees of Franklin Mutual Series
Funds and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these
specified parties.
/s/ Ernst & Young LLP
Boston, Massachusetts
February 16, 2024
EXEMPT ORDER INFO
3
IC-33117.txt
UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release No. 33117 / June 5, 2018
__________________________________________________________________
In the Matter of :
:
FRANKLIN ALTERNATIVE STRATEGIES FUNDS :
FRANKLIN CALIFORNIA TAX-FREE INCOME FUND :
FRANKLIN CALIFORNIA TAX-FREE TRUST :
FRANKLIN CUSTODIAN FUNDS :
FRANKLIN ETF TRUST :
FRANKLIN FEDERAL TAX-FREE INCOME FUND :
FRANKLIN FLOATING RATE MASTER TRUST :
FRANKLIN FUND ALLOCATOR SERIES :
FRANKLIN GLOBAL TRUST :
FRANKLIN GOLD AND PRECIOUS METALS FUND :
FRANKLIN HIGH INCOME TRUST :
FRANKLIN INVESTORS SECURITIES TRUST :
FRANKLIN MANAGED TRUST :
FRANKLIN U.S. GOVERNMENT MONEY FUND :
FRANKLIN MUNICIPAL SECURITIES TRUST :
FRANKLIN MUTUAL SERIES FUNDS :
FRANKLIN NEW YORK TAX-FREE INCOME FUND :
FRANKLIN NEW YORK TAX-FREE TRUST :
FRANKLIN REAL ESTATE SECURITIES TRUST :
FRANKLIN STRATEGIC MORTGAGE PORTFOLIO :
FRANKLIN STRATEGIC SERIES :
FRANKLIN TAX-FREE TRUST :
FRANKLIN TEMPLETON ETF TRUST :
FRANKLIN TEMPLETON GLOBAL TRUST :
FRANKLIN TEMPLETON INTERNATIONAL TRUST :
FRANKLIN TEMPLETON MONEY FUND TRUST :
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST :
FRANKLIN VALUE INVESTORS TRUST :
INSTITUTIONAL FIDUCIARY TRUST :
TEMPLETON CHINA WORLD FUND :
TEMPLETON DEVELOPING MARKETS TRUST :
TEMPLETON FUNDS :
TEMPLETON GLOBAL INVESTMENT TRUST :
TEMPLETON GLOBAL OPPORTUNITIES TRUST :
TEMPLETON GLOBAL SMALLER COMPANIES FUND :
TEMPLETON GROWTH FUND, INC. :
TEMPLETON INCOME TRUST :
TEMPLETON INSTITUTIONAL FUNDS :
THE MONEY MARKET PORTFOLIOS :
FRANKLIN LIMITED DURATION INCOME TRUST :
2
FRANKLIN UNIVERSAL TRUST :
TEMPLETON DRAGON FUND, INC. :
TEMPLETON EMERGING MARKETS FUND :
TEMPLETON EMERGING MARKETS INCOME FUND :
TEMPLETON GLOBAL INCOME FUND :
FRANKLIN ADVISERS, INC. :
FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED :
K2/D&S MANAGEMENT CO., L.L.C. :
FASA LLC :
FRANKLIN TEMPLETON INSTITUTIONAL, LLC :
FRANKLIN ADVISORY SERVICES, LLC :
FRANKLIN MUTUAL ADVISERS, LLC :
TEMPLETON INVESTMENT COUNSEL, LLC :
TEMPLETON ASSET MANAGEMENT LTD. :
TEMPLETON GLOBAL ADVISORS LIMITED :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14819) :
__________________________________________________________________:
ORDER UNDER SECTION 6(c) OF THE INVESTMENT COMPANY ACT OF 1940
GRANTING AN EXEMPTION FROM SECTIONS 18(f) AND 21(b) OF THE ACT;
UNDER
SECTION 12(d)(1)(J) OF THE ACT GRANTING AN EXEMPTION FROM SECTION
12(d)(1) OF THE ACT; UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN
EXEMPTION FROM SECTIONS 17(a)(1), 17(a)(2), AND 17(a)(3) OF THE
ACT; AND
UNDER SECTION 17(d) OF THE ACT AND RULE 17d-1 UNDER THE ACT TO
PERMIT
CERTAIN JOINT ARRANGEMENTS AND TRANSACTIONS
Franklin Alternative Strategies Funds, Franklin California Tax-Free
Income Fund, Franklin
California Tax-Free Trust, Franklin Custodian Funds, Franklin ETF
Trust, Franklin Federal Tax-
Free Income Fund, Franklin Floating Rate Master Trust, Franklin Fund
Allocator Series, Franklin
Global Trust, Franklin Gold and Precious Metals Fund, Franklin High
Income Trust, Franklin
Investors Securities Trust, Franklin Managed Trust, Franklin U.S.
Government Money Fund,
Franklin Municipal Securities Trust, Franklin Mutual Series Funds,
Franklin New York Tax-Free
Income Fund, Franklin New York Tax-Free Trust, Franklin Real Estate
Securities Trust, Franklin
Strategic Mortgage Portfolio, Franklin Strategic Series, Franklin
Tax-Free Trust, Franklin
Templeton ETF Trust, Franklin Templeton Global Trust, Franklin
Templeton International Trust,
Franklin Templeton Money Fund Trust, Franklin Templeton Variable
Insurance Products Trust,
Franklin Value Investors Trust, Institutional Fiduciary Trust,
Templeton China World Fund,
Templeton Developing Markets Trust, Templeton Funds, Templeton
Global Investment Trust,
Templeton Global Opportunities Trust, Templeton Global Smaller
Companies Fund, Templeton
Growth Fund, Inc., Templeton Income Trust, Templeton Institutional
Funds, The Money Market
Portfolios, Franklin Limited Duration Income Trust, Franklin
Universal Trust, Templeton Dragon
Fund, Inc., Templeton Emerging Markets Fund, Templeton Emerging
Markets Income Fund, and
Templeton Global Income Fund, Franklin Advisers, Inc., Franklin
Templeton Investment
Management Limited, K2/D&S Management Co., L.L.C., FASA LLC,
Franklin Templeton
Institutional, LLC, Franklin Advisory Services, LLC, Franklin
Mutual Advisers, LLC, Templeton
3
Investment Counsel, LLC, Templeton Asset Management Ltd., and
Templeton Global Advisors
Limited filed an application on September 14, 2017, and an
amendment on March 9, 2018.
Applicants requested an order under section 6(c) of the Investment
Company Act of 1940 (the
"Act") for an exemption from sections 18(f) and 21(b) of the Act,
under section 12(d)(1)(J) of
the Act for an exemption from section 12(d)(1) of the Act, under
sections 6(c) and 17(b) of the
Act for an exemption from sections 17(a)(1), 17(a)(2), and 17(a)(3)
of the Act, and under section
17(d) of the Act and rule 17d-1 under the Act to permit certain
joint arrangements and
transactions. The order supersedes a prior order1 and permits
certain registered management
investment companies to participate in a joint lending and
borrowing facility.
On May 10, 2018, a notice of the filing of the application was
issued (Investment Company Act
Release No. 33095). The notice gave interested persons an
opportunity to request a hearing and
stated that an order disposing of the application would be issued
unless a hearing was ordered.
No request for a hearing has been filed, and the Commission has
not ordered a hearing.
The matter has been considered and it is found, on the basis of
the information set forth in the
application, as amended, that granting the requested exemption
is consistent with and appropriate
in the public interest, and consistent with the protection of
investors and the purposes fairly
intended by the policy and provisions of the Act.
It is also found that the terms of the proposed transactions,
including the consideration to be paid
or received, are reasonable and fair and do not involve
overreaching on the part of any person
concerned, and that the proposed transactions are consistent
with the policy of each registered
investment company concerned and the general purposes of the
Act.
It is further found that the participation of each registered
investment company in the proposed
credit facility is consistent with the provisions, policies,
and purposes of the Act, and not on a
basis different from or less advantageous than that of other
participants.
Accordingly, in the matter of Franklin Alternative Strategies
Funds, et al., (File No. 812-14819),
IT IS ORDERED, under section 6(c) of the Act, that the requested
exemptions from sections
18(f) and 21(b) of the Act are granted, effective immediately,
subject to the conditions in the
application, as amended.
IT IS FURTHER ORDERED, under section 12(d)(1)(J) of the Act,
that the requested exemption
from section 12(d)(1) of the Act is granted, effective immediately,
subject to the conditions in
the application, as amended.
IT IS FURTHER ORDERED, under sections 6(c) and 17(b) of the Act,
that the requested
exemptions from sections 17(a)(1), 17(a)(2), and 17(a)(3) of the
Act are granted, effective
immediately, subject to the conditions in the application, as
amended.
1 Franklin Gold Fund, et al., Investment Company Act Release Nos.
24016 (Sept. 16, 1999) (notice) and
24080 (Oct. 13, 1999) (order).
4
IT IS FURTHER ORDERED, under section 17(d) of the Act and rule
17d-1 under the Act, that
the proposed transactions are approved, effective immediately,
subject to the conditions in the
application, as amended.
For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman
Assistant Secretary
EXEMPT ORDER INFO
4
IC-32722.txt
UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release no. 32722/July 3, 2017
________________________________________________
In the Matter of :
:
Franklin Fund Allocator Series :
Franklin Advisers, Inc. :
Franklin Templeton Distributors, Inc. :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14611) :
________________________________________________:
ORDER UNDER SECTION 12(d)(1)(J) OF THE INVESTMENT COMPANY ACT OF
1940 GRANTING AN EXEMPTION FROM SECTIONS 12(d)(1)(A), (B), AND
(C) OF THE ACT, UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN EXEMPTION FROM SECTION 17(a) OF THE ACT, AND UNDER
SECTION 6(C) OF THE ACT FOR AN EXEMPTION FROM RULE 12d1-2(a)
UNDER THE ACT
Franklin Fund Allocator Series, Franklin Advisers, Inc., and
Franklin Templeton Distributors, Inc. filed an application
on February 9, 2016, and an amendment to the application on
May 23, 2017, requesting an order under section 12(d)(1)(J)
of the Investment Company Act of 1940 (the "Act") granting
an exemption from sections 12(d)(1)(A), (B), and (C) of the
Act, under sections 6(c) and 17(b) of the Act granting an
exemption from section 17(a) of the Act, and under section
6(c) of the Act for an exemption from rule 12d1-2(a) under
the Act. The order would permit (a) certain registered open-end
management investment companies that operate as "funds of funds"
to acquire shares of certain registered open-end management
investment companies, registered closed-end management investment
companies, "business development companies," as defined by section
2(a)(48) of the Act, and registered unit investment trusts that
are within and outside the same group of investment companies as
the acquiring investment companies and (b) certain registered
open-end management investment companies relying on rule 12d1-2
under the Act to invest in certain financial instruments.
On June 5, 2017, a notice of the filing of the application was
issued (Investment Company Act Release No. 32669). The notice
gave interested persons an opportunity to request a hearing
and stated that an order granting the application would be
issued unless a hearing was ordered. No request for a hearing
has been filed, and the Commission has not ordered a hearing.
2
The matter has been considered and it is found, on the basis
of the information set forth in the application, as amended,
that granting the requested exemption is appropriate in and
consistent with the public interest and consistent with the
protection of investors and the purposes fairly intended by
the policy and provisions of the Act.
It is also found that the terms of the proposed transactions
are reasonable and fair and do not involve overreaching, and
the proposed transactions are consistent with the policies of
each registered investment company concerned and with the
general purposes of the Act.
Accordingly,
IT IS ORDERED, that the relief requested under section 12(d)(1)(J)
of the Act from sections 12(d)(1)(A), (B), and (C) of the Act,
under sections 6(c) and 17(b) of the Act from section 17(a) of
the Act, and under section 6(c) of the Act for an exemption from
rule 12d1-2(a) under the Act by Franklin Fund Allocator Series,
et al. (File No. 812-14611) is granted, effective immediately,
subject to the conditions contained in the application, as amended.
For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo Aleman
Assistant Secretary
EXEMPT ORDER INFO
5
IC-15534.txt
SEC Releases, In the Matter of Age High Income Fund, Inc., et al.,
777 Mariners Island Boulevard, San Mateo, CA 94404, Securities and
Exchange Commission, (Jan. 13, 1987)
SEC Releases
Click to open document in a browser
37 SEC-DOCKET 569-02
Release No. IC-15534
File No. 812-6505
January 13, 1987
ORDER PERMITTING JOINT TRADING ACCOUNTS
AGE High Income Fund, Inc; Birr, Wilson Money Fund; Franklin
California Tax-Free Income Fund, Inc.; Franklin New York Tax-Free
Income Fund, Inc; Franklin California Tax-Free Trust; Franklin
Tax-Free Trust; Franklin Corporate Cash Management Fund; Franklin
Custodian Funds, Inc; Franklin Equity Fund; Franklin Federal Money
Fund; Franklin Federal Tax-Free Income Fund; Franklin Gold Fund;
Franklin Money Fund; Franklin Option Fund; Franklin Tax-Exempt Money
Fund; Franklin New York Tax-Exempt Money Fund; Franklin
Pennsylvania Investors Fund; and Institutional Fiduciary Trust
("Funds") and Franklin Advisers, Inc., filed an application on
October 17, 1986, and an amendment thereto on November 24,
1986, requesting an order of the Commission under Section 17(d)
of the Investment Company Act of 1940 ("Act") and Rule 17d-1
thereunder to permit the Funds, as well as future investment
companies for which subsidiaries or affiliates of Franklin
Resources, Inc. serve as investment managers, to deposit
their cash balances remaining uninvested at the end of each
trading day into a single joint account whose daily balance
would be used to enter into one or more repurchase agreements
in a total amount equal to the aggregate daily balance in
the account ("Joint Accounts").
On December 17, 1986, a notice was issued (Investment Company
Act Release No. 15485) of the filing of the application. The
notice gave interested persons an opportunity to request a
hearing and stated that an order disposing of the application
would be issued as of course unless a hearing should be ordered.
No request for a hearing has been filed, and the Commission has
not ordered a hearing.
The matter having been considered, it is found that the
participation of the Funds in the Joint Accounts is consistent
with the provisions, policies and purposes of the Act and that
their participation in the Joint Accounts is not on a basis less
advantageous than that of any other participant. Accordingly,
IT IS ORDERED, pursuant to Section 17(d) of the Act and Rule 17d-1
thereunder that the application to permit the Funds to participate
in the Joint Accounts as described in the application, be, and
hereby is granted, effective forthwith.
For the Commission, by the Division of Investment Management,
under delegated authority.
Jonathan G. Katz
Secretary