Franklin Mutual Small-Mid Cap Val A (Franklin MicroCap Value Fund Cl) fond

The fund invests at least 80% of its net assets in investments of small-capitalization and mid-capitalization companies. The fund generally invests in equity securities of companies that the fund’s investment manager believes are undervalued at the time of purchase and have the potential for capital appreciation. The fund may also invest in real estate investment trusts (REITs).