Founded in 1947, Franklin Templeton Investments – a segment of Franklin Resources, Inc. – seeks to provide investment management strategies and integrated risk management solutions to individuals, institutions, pension plans, trusts and partnerships. With over 650 investment professionals in 35 countries, the company invests in public equity, fixed income and alternative markets. The company manages assets worth over $866.5 billion with more than 9,300 employees.

Below we share with you 3 top-rated Franklin Templeton mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and we expect the fund to outperform its peers in the future. To view the Zacks Rank and past performance of all Franklin Templeton mutual funds, investors can click here to see the complete list of Franklin Templeton funds .

Franklin Mutual Financial Services Z (TEFAX – MF report) seeks growth of capital. TEFAX invests a major portion of its assets in undervalued companies that are involved in the financial services domain. TEFAX may also invest in merger arbitrage securities and securities of distressed companies. TEFAX may invest a significant portion of its assets in non-US securities. The Franklin Mutual Financial Services Z fund has a three-year annualized return of 10.9%.

Andrew B. Sleeman is one of the fund managers having managed TEFAX since 2009.

Franklin California High Yield Municipal Advisor (FVCAX – MF report) invests a large share of its assets in municipal securities that pay interest, which is exempted from taxes collected by the government and the State of California. FVCAX may also invest all of its assets in instruments that provide return subject to minimum tax. FVCAX may invest a maximum of 35% of its assets in municipal bonds approved by the US territories including Puerto Rico. The Franklin California High Yield Municipal Advisor fund has a three-year annualized return of 5.2%.

FVCAX has an expense ratio of 0.53% as compared to a category average of 0.90%.

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