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FRANKLIN MENA A USD - Fund overview

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Overview of FRANKLIN MENA A USD

This multicap fund offers core exposure to the Middle East and North African equity markets including Saudi Arabia. Day to day fund management is by Algebra Capital, whose team is one of relatively few with significant investment experience in the region - Franklin Templeton have held a 25% stake in Algebra Capital since September 2007. Joe Kawkabani and his team target outperformance over 3 to 5 years and the manager's pragmatic style incorporates bottom up and top down considerations.

Standard Initial Charge

5.00% 0.00%

Fund summary

Sector	Specialist
Product type	OFFSHORE FUND
Launched	June, 2008
Size	£39m
Yield	0.0%
Charging basis	–
Dividends paid	Acc units only
Bid price	281.00p

Fund Charges

Standard Initial charge	5.00%
Initial charge via Bestinvest	0.00%
Additional bid/offer spread	0.00%
Annual management charge	1.50%
Total expense ratio	2.45%
Reduction in yield (10yr)	2.45%

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No information available.

Portfolio

franklin mena a usd asset allocation illustration

Allocation		Proportion

	Equity	90%
	High yield bonds	–
	Quality bonds	–
	Property	–
	Commodities	–
	Hedge	–
	Fund cash	10%

franklin mena a usd equity geographic illustration

Allocation		Proportion

	UK	–
	Europe	–
	Nth America	–
	Japan	–
	Pacific	–
	Other Equity	100%

franklin mena a usd equity capitalisation illustration

Allocation		Proportion

	Large Caps	80%
	Mid Caps	15%
	Small Caps	5%

View all performance data for FRANKLIN MENA A USD

Investment process

The investment process contains top down and bottom up factors. The top down considerations incorporate growth, liquidity and value factors as well as catalysts for markets. Binary factors like political and currency risk are also considered and if these are too high investment in a country can be ruled out. At stock level the manager seeks fundamental value either in terms of current assets, which are favoured, or future earnings. Discounted cash flow is the primary valuation technique used by the team.
Saudi Arabian exposure will be through a maximum 10% allocation to Algebra's Saudi Arabian fund, which can invest directly in the Saudi market, (Saudi Arabia is normally closed to foreign investment). A SWAP agreement linked to the returns of this fund can extend exposure by a further 10%. The Franklin MENA fund is expected to have a high degree of commonality with Algebra's existing Algebra Alpha MENA fund which holds circa 30 stocks.

The value of your investments and the income from them can go down as well as up, and you can get back less than you originally invested. Past performance or any yields quoted should not be considered reliable indicators of future returns. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex; they may also have risks relating to the geographical area, industry sector and/or underlying assets in which they invest. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

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