The Mutual Beacon Fund managed by Franklin Templeton Investments won the coveted Raging Bull Award for the best performing offshore fund in the Offshore US General Equity category in South Africa in 2007 at the awards ceremony last night.
Franklin Templeton's Mutual Beacon Fund, the China Fund and the Asian Growth Fund were also among the top performing offshore funds for SA investors during the past year.
This brings to six the number of Raging Bull awards won by the global investment house. In 2004 the Templeton Global Fund and the Templeton Euroland Fund were winners, followed by the Franklin Aggressive Growth Fund and the Asian Growth Fund in 2005.
Country head of Franklin Templeton in South Africa, Michael King, said that it would be advancing its fund range in SA during 2007.
King also re-affirmed the groups' commitment to providing sustainable fund performance through rigorous stock selection and active deep value company research globally.
In 2006 the Franklin Mutual Benefit fund achieved a one-year all-in return of 18,29 % for investors, exceeding the S&P 500 Index which appreciated by 15.35 %. More impressively, this fund yielded returns of 42.52 % over three years and 53.34 % over five years. The AA S&P Fund Management Rating further underscores the strength and sustainability of this Fund.
The firm has over $550 bn in assets under management world-wide and over 400 portfolio managers located in various markets in which clients assets have exposure.
King confirmed that: "The rand was strong from December 2001 through to May 2006, leading many SA investors to neglect foreign exposure. The sell-off in emerging market currencies and shares in May and June was a reminder to South Africans that it is at the top of a bull market that one needs to cover oneself. The rands weakening and the JSE's jitters last May led many investors to hedge into foreign-based funds. SA investors appreciated in a new way that it is wise not to have all their funds in one market and one currency."
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