MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, February 1, 2000 Franklin Fund Reopens Franklin Templeton Distributors Inc. said today that it is reopening the Franklin Balance Sheet Investment Fund to new investors.
The fund was first opened in April 1990 and was closed to new investments on February 5, 1996. For the five-year period ended December 31, 1999, the fund had an average annualized total return of 13.5%, compared with a total return of 13.7% for all Small-Cap Value funds. However, the fund has not outperformed the S&P 500 for the past 5 years. The fund reached its peak performance in the first quarter of 1998 when the NAV was about $37. Since this time the fund has mainly declined and today closed at $29.53. "The continued divergence in performance between the growth and value camps has created new opportunities for investment," said Bruce Baughman, portfolio manager of Franklin Balance Sheet Investment Fund. "By reopening the fund, we will gain access to cash flow needed to take advantage of these opportunities." Baughman and fellow managers William Lippman and Margaret McGee have been with the fund since its inception. Printed from: MFWire.com/story.asp?s=25504 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |
