Franklin Mutual Global Discovery Inclusive - Class A - Income (GBP)

Peter Langerman is chairman, president and CEO of Franklin Mutual Advisers, LLC (referred to as Mutual Series). He is co-portfolio manager of Mutual Shares Fund and co-portfolio manager of the Mutual Global Discovery products, which include: Mutual Global Discovery Fund, FTVIP Franklin Mutual Global Discovery Securities Fund, the Luxemburg-registered FTIF Franklin Mutual Global Discovery Fund and the Canadian Mutual Discovery Fund. He is also portfolio manager of the Luxemburg-registered FTIF Franklin Mutual Beacon Fund. Mr. Langerman initially joined Heine Securities Corporation (predecessor of Franklin Mutual Advisers, LLC) in June 1986. He served as CEO of Mutual Series beginning in 1998 and as chairman of the fund boards beginning in 2001, before leaving in 2002 to serve as director of New Jersey's Division of Investment, overseeing employee pension funds. He rejoined Mutual Series in 2005. Prior to 1986, Mr. Langerman was employed by Weil, Gotshal & Manges, one of the country's foremost specialists in large corporate bankruptcies and reorganizations. Mr. Langerman began his professional career in 1977 serving on the audit staff of Arthur Young and Company, where he earned his CPA designation. Mr. Langerman graduated magna cum laude from Yale University, earning his Bachelor of Arts degree in Russian studies. He holds a master's degree in accounting from New York University Graduate School of Business and received his Juris Doctor degree from Stanford University Law School. Mr. Langerman is treasurer and a member of the Board of Trustees of The Hopkins School (New Haven, CT), a member of the executive committee of United Jewish Communities MetroWest New Jersey, and past president of Temple Sinai (Summit, NJ).