Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: capplegate Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 30  
Subject: Re: Franklin Resources (BEN) Date: 8/24/1998 2:59 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Thanks for the feedback. Just a couple of comments.

MSCI EAFE is not an appropriate benchmark with which to compare Mutual
Discovery, which is 50% U.S. The benchmark is 100% non-U.S.

The Mutual Series funds as a whole are performing poorly relative to similar funds in the last year or so.

Dr. Mobius' funds are performing poorly relative to other emerging markets funds, and the global equity funds are performing poorly relative to their peer group, as well, for the last couple of years. By the way, MSCI EAFE is an appropriate benchmark to compare the Templeton Foreign Fund. In the past, some of the relatively good perfomance of the Foreign Fund has been due to an unweighting of Japan relative to the index. To really evaluate Holowesko's stock picking during these periods, you would need to construct a different benchmark with a lower Japan weighting.

Chinese Wall or no Chinese Wall, Templeton has lost a number of experienced portfolio analysts / managers
since the acquistion by Franklin. Mike Price is opting out early from any active role at Mutual Series, and Franklin San Mateo has lost a number of analysts / portfolio persons in the last couple of years. Might this be contributing to the underperformance of Franklin Templeton Funds? This would be logical.

Poor fund performance can't be sold, and there are the obvious asset retention problems. This will hurt future earnings.

You seem like you might even work for FT, though not in portfolio management. What other problems do you see?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Dividend Growth Investing

Good Time for Dividend Champions?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement