指導老師：陳信憲 主任 報告學生：95320008 林佩儀 95320020 汪靜姿 95320024 莊雅婷 投資學期末報告 富蘭克林坦伯頓世界基金 指導老師：陳信憲 主任 報告學生：95320008 林佩儀 95320020 汪靜姿 95320024 莊雅婷

目錄 研究動機 基金簡介---富蘭克林坦伯頓世界基金 Stock Selection Guide (SSG) 分析 總結

研究動機 我們發現這檔基金它成立了一百多年，基 金的規模也相當的大，想探討為何如此受 投資人的青睞。

基金簡介 基金基本資料(2008/11/30) 基金特色 成立時間：1978年1月17日 計價貨幣：美元 投資地區：全球 投資標的：普通股 配息月份：預計每年配息 基金規模： 51億1千1百萬美金 投資政策：資本利得為主 註冊國家：美國 基金經理人： Cindy L. Sweeting Lisa F. Myers Tucker Scott 管理費： 0.61% 波動風險： 17.10% 基金特色 縱橫全球產業，瞄準3-5年的 投資潛力。 新興亞洲、TMT與醫療概念的 全球基金。 能提供在地化且精闢的研究報 告及服務。 晨星基金績效評等四顆星。 榮獲台灣基金獎。

— 累積報酬率 (至2008/11/30止 台幣別 資料來源：理伯) 累積報酬率 (至2008/11/30止 台幣別 資料來源：理伯) 三個月 六個月 一年 二年 三年 五年 十年 累積 -27.22% -32.66% -40.68% -34.14% -22.18% 1.22% 33.59% 年平均 — -18.87% -8.03% 0.24% 2.94% 定期定額累積投資成果 (每月投資新台幣5000元 至2008/11/30止 資料來源：理伯) 一年 二年 三年 五年 累積金額 $42,794 $79,412 $123,170 $232,576 累積投資成果＝成本＋投資報酬

投資成長圖

主要持股明細(2008/11/30) 主要投資產業(2008/11/30) Microsoft Corp. Com cast Corp. Chevron Corp. Accenture Ltd Amgen Inc Royal Dutch Shell BP. Plc UPS Inc Oracle Corp. Taiwan Semiconductor 主要投資產業(2008/11/30) 生化製藥與生命科學 能源 媒體 軟體服務業 通訊服務業 資本設備 半導體業 運輸產業 公共事業 醫療設備與服務業

SALES GROWTH RATE Microsoft Corp. Comcast Corp. 3 Year Average: 14.98% 13.48% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 15.74% 5 Year Average: 13.50% Desired Growth Rate: 12% Meets Objective? Yes Chevron Corp. Accenture Ltd 3 Year Average: 13.05% 5 Year Average: 18.86% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 14.05% 5 Year Average: 13.61% Desired Growth Rate: 12% Meets Objective? Yes

SALES GROWTH RATE Amgen Inc Royal Dutch Shell 3 Year Average: 5.49% 12.11% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 15.73% 5 Year Average: 18.63% Desired Growth Rate: 12% Meets Objective? Yes BP. Plc UPS Inc 3 Year Average: 13.38% 5 Year Average: 10.04% Desired Growth Rate: 12% Meets Objective? Maybe 3 Year Average: 6.91% 5 Year Average: 9.28% Desired Growth Rate: 12% Meets Objective? NO

SALES GROWTH RATE Oracle Corp. Taiwan Semiconductor 3 Year Average: 23.11% 5 Year Average: 19.17% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 13.40% 5 Year Average: 15.49% Desired Growth Rate: 12% Meets Objective? Yes

EPS GROWTH RATE Microsoft Corp. Com cast Corp. 3 Year Average: 17.82% 14.45% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 40.67% 5 Year Average: 90.02% Desired Growth Rate: 12% Meets Objective? Yes Chevron Corp. Accenture Ltd 3 Year Average: 16.00% 5 Year Average: 26.52% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 21.41% 5 Year Average: 22.66% Desired Growth Rate: 12% Meets Objective? Yes

EPS GROWTH RATE Amgen Inc Royal Dutch Shell 3 Year Average: 11.38% 19.68% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 15.07% 5 Year Average: 27.74% Desired Growth Rate: 12% Meets Objective? Yes UPS Inc BP. Plc 3 Year Average: 22.40% 5 Year Average: 25.47% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 1.77% 5 Year Average: 8.49% Desired Growth Rate: 12% Meets Objective? NO

EPS GROWTH RATE Oracle Corp. Taiwan Semiconductor 3 Year Average: 24.20% 5 Year Average: 24.98% Desired Growth Rate: 12% Meets Objective? Yes 3 Year Average: 9.87% 5 Year Average: 27.69% Desired Growth Rate: 12% Meets Objective? Yes

P/E Microsoft Corp. Comcast Corp. Present Price 20.33 Present EPS 1.89 Present P/E Ratio 10.76 Desired P/E 21 Meets Objective? Yes Present Price 17.99 Present EPS 0.91 Present P/E Ratio 19.77 Desired P/E 21 Meets Objective? Yes Chevron Corp. Accenture Ltd Present Price 76.52 Present EPS 11.53 Present P/E Ratio 6.64 Desired P/E 21 Meets Objective? Yes Present Price 33.67 Present EPS 2.79 Present P/E Ratio 12.07 Desired P/E 21 Meets Objective? Yes

P/E Amgen Inc Royal Dutch Shell Present Price 58.99 Present EPS 3.76 Present P/E Ratio 15.69 Desired P/E 21 Meets Objective? Yes Present Price 53.53 Present EPS 12.11 Present P/E Ratio 4.42 Desired P/E 21 Meets Objective? Yes UPS Inc BP. Plc Present Price 48.45 Present EPS 9.08 Present P/E Ratio 5.34 Desired P/E 21 Meets Objective? Yes Present Price 56.11 Present EPS 0.10 Present P/E Ratio 539.52 Desired P/E 21 Meets Objective? Yes

P/E Oracle Corp. Taiwan Semiconductor Present Price 18.41 Present EPS 1.10 Present P/E Ratio 16.74 Desired P/E 21 Meets Objective? Yes Present Price 8.22 Present EPS 0.72 Present P/E Ratio 11.42 Desired P/E 21 Meets Objective? Yes

Indications of Value Microsoft Corp. Price Earnings P/E Objective Meets Objective Present 20.33 1.89 10.76 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years -32.68% 100% No Projected price increase over next 5 yrs 381.36% Projected dividend yield over next 5 yrs 4.76% (Higher is better) Projected total return over next 5 yrs 81.03% Upside/Downside Ratio -5.35 > 3 SELL Zoning Buy

Indications of Value Comcast Corp. Price Earnings P/E Objective Meets Objective Present 17.99 0.91 19.77 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years -23.77% 100% NO Projected price increase over next 5 yrs 361.38% Projected dividend yield over next 5 yrs 0.46% (Higher is better) Projected total return over next 5 yrs 72.74% Upside/Downside Ratio -4.12 > 3 SELL Zoning Buy

Indications of Value Chevron Corp. Price Earnings P/E Objective Meets Objective Present 76.52 11.53 6.64 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years 36.40% 100% No Projected price increase over next 5 yrs 218.93% Projected dividend yield over next 5 yrs 8.15% (Higher is better) Projected total return over next 5 yrs 51.94% Upside/Downside Ratio 58.33 > 3 Buy Zoning

Indications of Value Accenture Ltd Price Earnings P/E Objective Meets Objective Present 33.67 2.79 12.07 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years 19.82% 100% No Projected price increase over next 5 yrs 880.97% Projected dividend yield over next 5 yrs 4.92% (Higher is better) Projected total return over next 5 yrs 181.12% Upside/Downside Ratio -49.78 > 3 SELL Zoning Buy

Indications of Value Amgen Inc Price Earnings P/E Objective Meets Objective Present 58.99 3.76 15.69 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years -11.82% 100% NO Projected price increase over next 5 yrs 175.05% Projected dividend yield over next 5 yrs 0.00% (Higher is better) Projected total return over next 5 yrs 35.01% Upside/Downside Ratio -11.84 > 3 SELL Zoning Buy

Indications of Value Royal Dutch Shell Price Earnings P/E Objective Meets Objective Present 53.53 12.11 4.42 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years -7.39% 100% No Projected price increase over next 5 yrs 376.92% Projected dividend yield over next 5 yrs 17.37% (Higher is better) Projected total return over next 5 yrs 92.75% Upside/Downside Ratio -7.39 > 3 SELL Zoning Buy

Indications of Value BP. Plc Price Earnings P/E Objective Meets Objective Present 48.45 9.08 5.34 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years -21.98% 100% No Projected price increase over next 5 yrs 231.60% Projected dividend yield over next 5 yrs 10.29% (Higher is better) Projected total return over next 5 yrs 56.61% Upside/Downside Ratio -2.83 > 3 SELL Zoning Buy

Indications of Value UPS Inc Price Earnings P/E Objective Meets Objective Present 56.11 0.10 539.52 21 NO Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years -37.03% 100% Projected price increase over next 5 yrs 167.55% Yes Projected dividend yield over next 5 yrs 4.55% (Higher is better) Projected total return over next 5 yrs 38.06% Upside/Downside Ratio -9.28 > 3 SELL Zoning Buy

Indications of Value Oracle Corp. Price Earnings P/E Objective Meets Objective Present 18.41 1.10 16.74 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years 18.77% 100% NO Projected price increase over next 5 yrs 289.81% Projected dividend yield over next 5 yrs 0.00% (Higher is better) Projected total return over next 5 yrs 57.96% Upside/Downside Ratio -19.78 > 3 SELL Zoning Buy

Indications of Value Taiwan Semiconductor Price Earnings P/E Objective Meets Objective Present 8.22 0.72 11.42 21 Yes Current PE is LESS 5 year average PE LESS Yes Price increase in the past 5 years -12.55% 100% NO Projected price increase over next 5 yrs 219.35% Projected dividend yield over next 5 yrs 10.24% (Higher is better) Projected total return over next 5 yrs 54.11% Upside/Downside Ratio -53.76 > 3 SELL Zoning Buy

綜合以上分析，此基金前景看好 ，建議購買。 總結 綜合以上分析，此基金前景看好 ，建議購買。