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Sticking to a deep- value approach

Franklin aims 'to buy US$1 worth of assets for 60-70¢'

US stocks have been on an uptrend over the past 4-5 years, but you can always find "areas of scepticism", says Franklin Mutual Advisers institutional portfolio manager Paul de Leon.

Mr de Leon adheres to a deep-value approach to markets - that is, his team seeks to buy stocks trading at a significant discount to their intrinsic value.

"We're looking to buy US$1 worth of assets for 60 or 70 cents. Our overall goal is to achieve strong consistent returns with below-average volatility. Some people refer to the funds as 'eat well/sleep well' funds: you achieve nice solid returns and, hopefully, there won't be negative surprises."

His team manages the Franklin Mutual Series' longstanding Mutual Beacon...

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