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On this page you will find the most recent white paper. All issues are available as PDF files.
U.S. Equities: Setting the Stage for Growth (PDF, 200k)
January 2010
Growth investing in the context of the relatively improved investment environment, including market cycles, recession trends, and current valuations.
The Art and Science of Risk Management (PDF, 475k)
July 2009
Following last year's highly volatile market performance and the demise of several venerable financial firms, risk management has become top of mind with institutional investors. A new Institutional Perspectives paper titled "The Art and Science of Risk Management" provides an overview of risk management's origins and its interaction with portfolio management. It also profiles the integrated risk management approach Franklin Templeton has developed, which has become a key differentiator supporting the firm's strong long-term performance track record.
Update to Discussion Paper on the 'Investment Grade Corporate Credit Markets' (PDF, 87k)
June 2009
This new discussion piece, written by the Franklin Templeton Fixed Income Group, is a follow-up to the December 2008 paper titled Investment Grade Corporate Credit Markets: Where Do We Go From Here? This piece provides the fixed income groups current views of the global credit markets in light of events through early June 2009, with discussion on valuations, corporate technical and fundamental factors.
Important Legal Information
All investments are subject to certain risks. Generally, investments offering the potential for higher returns are accompanied by a higher degree of risk. Stocks and other equities representing an ownership interest in a corporation have historically outperformed other asset classes over the long term but tend to fluctuate more dramatically over the shorter term. Bond and other debt obligations are affected by changes in interest rates and the creditworthiness of their issuers. High yield, lower-rated ("junk") bonds generally have greater price swings and higher default risks. Foreign investing, especially in developing countries, has additional risks such as currency and market volatility and political or social instability. These, and other risks to which particular funds may be subject, such as specialized industry sectors or use of complex securities, are discussed in each fund's prospectus (where applicable).
The information contained in the pieces on this page is not a complete analysis of every material fact regarding the market and any industry sector, a security, or a portfolio. Statements of fact cited by the manager have been obtained from sources considered reliable but no representation is made as to the completeness or accuracy. Because market and economic conditions are subject to rapid change, these opinions are valid only as of the date of the material. Fund or portfolio holdings and the manager's analysis of these issuers and their economic environment may have changed since the date of the material (where applicable). The manager's opinions are intended to provide insight into to how they analyze securities and are not intended as individual investment advice for any particular security, strategy, or investment product.
Performance quoted is historical, and, of course, past performance cannot guarantee future results. Ongoing market volatility can dramatically impact a portfolio's short-term performance; current performance may differ from the figures shown.
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