<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUE INVESTORS TRUST APRIL 30, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 034
<NAME> FRANKLIN VALUE FUND - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 104,393,461
<INVESTMENTS-AT-VALUE> 92,204,361
<RECEIVABLES> 1,346,215
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 518
<TOTAL-ASSETS> 93,551,094
<PAYABLE-FOR-SECURITIES> 35,316
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,740,759
<TOTAL-LIABILITIES> 1,776,075
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 134,188,104
<SHARES-COMMON-STOCK> 168,674
<SHARES-COMMON-PRIOR> 168,404
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (83,030)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (30,140,921)
<ACCUM-APPREC-OR-DEPREC> (12,189,133)
<NET-ASSETS> 91,775,021
<DIVIDEND-INCOME> 689,025
<INTEREST-INCOME> 40,005
<OTHER-INCOME> 0
<EXPENSES-NET> (812,060)
<NET-INVESTMENT-INCOME> (83,030)
<REALIZED-GAINS-CURRENT> (892,715)
<APPREC-INCREASE-CURRENT> 9,086,963
<NET-CHANGE-FROM-OPS> 8,111,218
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,294
<NUMBER-OF-SHARES-REDEEMED> (18,024)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (8,490,001)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (29,248,206)
<GROSS-ADVISORY-FEES> (336,621)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (812,060)
<AVERAGE-NET-ASSETS> 91,158,453
<PER-SHARE-NAV-BEGIN> 17.460
<PER-SHARE-NII> .030<F1>
<PER-SHARE-GAIN-APPREC> 1.710
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 19.200
<EXPENSE-RATIO> 1.280<F2>
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
<F2>ANNUALIZED
</FN>
</TABLE>
