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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Franklin Mutual International Fund reorganization

https://www.sec.gov/Archives/edgar/data/825063/000082506319000015/msp30719.htm

MS P3 07/19

SUPPLEMENT DATED JULY 18, 2019

TO THE PROSPECTUS DATED MAY 1, 2019

OF

FRANKLIN MUTUAL INTERNATIONAL FUND

(a series of Franklin Mutual Series Funds)

The Board of Trustees of Franklin Mutual Series Funds recently approved a proposal to reorganize the Franklin Mutual International Fund (the “Fund”) with and into the Franklin Mutual Global Discovery Fund, each a series of Franklin Mutual Series Funds.

It is anticipated that in the third quarter of 2019, shareholders of the Fund will receive a proxy card and a Prospectus/Proxy Statement requesting their votes on the reorganization. If approved by the Fund’s shareholders, the transaction is currently expected to be completed on or about February 21, 2020, but may be delayed if unforeseen circumstances arise.

Effective at the close of market (1:00 p.m. Pacific time or close of the New York Stock Exchange, whichever is earlier) on August 27, 2019, the Fund will be closed to all new investors except as noted below. Existing investors who had an open and funded account on August 27, 2019 can continue to invest in the Fund through exchanges and additional purchases after such date. The following categories of investors may continue to open new accounts in the Fund after the close of market on August 27, 2019: (1) clients of discretionary investment allocation programs where such programs had investments in the Fund prior to the close of market on August 27, 2019; and (2) Employer Sponsored Retirement Plans or benefit plans and their participants where the Fund was available to participants prior to the close of market on August 27, 2019. The Fund will not accept any additional purchases or exchanges after the close of market on or about February 19, 2020. The Fund reserves the right to change this policy at any time.


Please keep this supplement with your prospectus for future reference.

Comments

  • I gave up on the Mutual Series funds two years ago, and transferred to the Meridian Funds and T Rowe Price. Michael Price is gone, and so is the magic. Get over it. (And please don’t remind me about David Winters and his Wintergreen Fund.)
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