Grace Hoefig, Vice President and Portfolio Manager of Franklin Advisory Services. Ms. Hoefig joined Franklin Templeton in February 2008 as a research analyst. She has been in the investment industry for more than 20 years. Prior to joining Franklin Templeton, Ms. Hoefig was a managing director at AXIA Capital Management LLC., and has held senior analyst positions at Heine Securities Co., First Manhattan Co. and Neuberger & Berman.

Mr. Vijay has been a portfolio manager of the Mutual U.S. Value Fund since December 2019. He joined Franklin Templeton in 2019. Prior to joining Franklin Templeton, he was Senior Vice President, Equity Research Analyst at Neuberger Berman.

Mr. Shunk is a portfolio manager of the Fund, providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment.

Oliver Wong, CFA, is a portfolio manager and research analyst for Franklin Mutual Series. He is a portfolio manager on the Franklin Mutual U.S. Mid Cap Value and Franklin Mutual Small-Mid Cap Value strategies and has research responsibilities covering the consumer discretionary sector. Mr. Wong joined Franklin Templeton in 2012, working with the Franklin Global Small Cap team as a research analyst until 2018 when he transitioned to the Franklin Mutual Series team. Prior to joining Franklin Templeton, Mr. Wong was a research analyst at ING Investment Management and a wealth management analyst at Morgan Stanley. He entered the financial services industry in 2005. Mr. Wong holds a B.S. in electrical engineering from Tufts University and an M.B.A. in finance from the Columbia Business School at Columbia University. He is a Chartered Financial Analyst (CFA) charterholder.