FORT LAUDERDALE, Fla., Oct. 20, 2017 (GLOBE NEWSWIRE) -- The Templeton closed-end Funds referenced below, which trade on the New York Stock Exchange, today released portfolio allocation updates containing the following information as of September 30, 2017:
- Asset Allocation
- Ten Largest Positions/Portfolio Characteristics
- International Allocation/Net Currency Distribution
- Industry Allocation/Country Distribution
To obtain a copy of the updates, please contact Fund Information at 1-800-342-5236.
Templeton closed-end Funds:
Templeton Dragon Fund, Inc. (NYSE:TDF)
Templeton Emerging Markets Income Fund (NYSE:TEI)
Templeton Global Income Fund (NYSE:GIM)
Effective today, the Funds will discontinue issuing portfolio allocation updates via press releases. Portfolio allocation information is now available for each Fund at https://www.franklintempleton.com/investor/products/products/closed-end-funds.
The Funds’ investment managers are subsidiaries of Franklin Resources, Inc. (NYSE:BEN), a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes — including equity, fixed income, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California–based company has 70 years of investment experience and over $753 billion in assets under management as of September 30, 2017. For more information, please visit franklintempleton.com.
This press release contains statistical data regarding the Fund’s portfolio. The Fund’s complete portfolio holdings are publicly available on a quarterly basis on Form N-Q, as well as in the Fund’s Annual and Semi-Annual Report to Shareholders filed with the U.S. Securities and Exchange Commission. These documents may be found at sec.gov. For portfolio management discussions, including information regarding the Fund’s investment strategies, please view the most recent Annual or Semi-Annual Report to Shareholders which can be found at franklintempleton.com or sec.gov.
| TEMPLETON DRAGON FUND, INC. | ||||||
| AS OF SEPTEMBER 30, 2017 | ||||||
| TOTAL NET ASSETS: $799,258,975 | ||||||
| NET ASSET VALUE PER SHARE: $23.35 | ||||||
| OUTSTANDING SHARES: 34,228,891 | ||||||
| ASSET ALLOCATION | PERCENT OF TOTAL NET ASSETS | TEN LARGEST POSITIONS | PERCENT OF TOTAL NET ASSETS | |||
| CASH & OTHER | 0.1 | % | TENCENT HOLDINGS LTD | 10.3 | % | |
| EQUITY* | 99.9 | % | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 9.9 | % | |
| 100.0 | % | ALIBABA GROUP HOLDING LTD | 6.7 | % | ||
| CHINA PETROLEUM & CHEMICAL CORP | 4.4 | % | ||||
| ANTA SPORTS PRODUCTS LTD | 4.0 | % | ||||
| NINE DRAGONS PAPER HOLDINGS LTD | 3.6 | % | ||||
| UNI-PRESIDENT CHINA HOLDINGS LTD | 3.0 | % | ||||
| CHINA CONSTRUCTION BANK CORP | 2.9 | % | ||||
| AIA GROUP LTD | 2.9 | % | ||||
| DAIRY FARM INTERNATIONAL HOLDINGS LTD | 2.8 | % | ||||
| 50.5 | % | |||||
| INTERNATIONAL ALLOCATION | PERCENT OF TOTAL NET ASSETS | INDUSTRY ALLOCATION | PERCENT OF TOTAL NET ASSETS | |||
| ASIA | 100.0 | % | CONSUMER DISCRETIONARY | 9.5 | % | |
| CHINA | 79.8 | % | AUTOMOBILES & COMPONENTS | 4.1 | % | |
| HONG KONG | 8.9 | % | CONSUMER DURABLES & APPAREL | 4.3 | % | |
| TAIWAN | 11.3 | % | MEDIA | 0.3 | % | |
| TOTAL EQUITY* | 100.0 | % | RETAILING | 0.8 | % | |
| CONSUMER STAPLES | 6.4 | % | ||||
| FOOD & STAPLES RETAILING | 3.0 | % | ||||
| FOOD, BEVERAGE & TOBACCO | 3.4 | % | ||||
| ENERGY | 6.1 | % | ||||
| FINANCIALS | 34.1 | % | ||||
| BANKS | 4.8 | % | ||||
| DIVERSIFIED FINANCIALS | 25.3 | % | ||||
| INSURANCE | 4.0 | % | ||||
| HEALTH CARE | 1.2 | % | ||||
| HEALTH CARE EQUIPMENT & SERVICES | 1.0 | % | ||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFESCIENCES | 0.3 | % | ||||
| INDUSTRIALS | 3.4 | % | ||||
| CAPITAL GOODS | 1.5 | % | ||||
| TRANSPORTATION | 1.9 | % | ||||
| INFORMATION TECHNOLOGY | 30.2 | % | ||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 9.9 | % | ||||
| SOFTWARE & SERVICES | 20.2 | % | ||||
| TECHNOLOGY HARDWARE & EQUIPMENT | 0.2 | % | ||||
| MATERIALS | 4.1 | % | ||||
| REAL ESTATE | 1.0 | % | ||||
| TELECOMMUNICATION SERVICES | 2.4 | % | ||||
| UTILITIES | 1.5 | % | ||||
| TOTAL NET ASSETS | 100.0 | % | ||||
You may request a copy of the Fund's current Report to Shareholders by contacting Franklin Templeton’s Fund Information Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. Special risks are associated with foreign investing, including currency volatility, economic instability and political developments of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. There are special risks associated with investments in China, Hong Kong and Taiwan, including exposure to currency fluctuations, less liquidity, expropriation, confiscatory taxation, nationalization and exchange control regulations (including currency blockage), inflation and rapid fluctuations in inflation and interest rates. In addition, investments in Taiwan could be adversely affected by its political and economic relationship with China. Because the Fund invests its assets primarily in companies in a specific region, the Fund is subject to greater risks of adverse developments in that region and/or the surrounding regions than a fund that is more broadly diversified geographically. Political, social or economic disruptions in the region, even in countries in which the Fund is not invested, may adversely affect the value of securities held by the Fund. Also, as a nondiversified investment company investing in “China companies,” the Fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The Fund may invest in eligible China A shares (“Stock Connect Securities”) listed and traded on the Shanghai Stock Exchange through the Shanghai-Hong Kong Stock Connect program, as well as eligible China A shares listed and traded on the Shenzhen Stock Exchange through the Shenzhen-Hong Kong Stock Connect program (collectively, “Stock Connect”). However, trading through Stock Connect is subject to a number of restrictions that may affect the Fund’s investments and returns. For example, investors in Stock Connect Securities are generally subject to Chinese securities regulations and the listing rules of the respective Exchange, among other restrictions. In addition, Stock Connect Securities generally may not be sold, purchased or otherwise transferred other than through Stock Connect in accordance with applicable rules. While Stock Connect is not subject to individual investment quotas, daily and aggregate investment quotas apply to all Stock Connect participants, which may restrict or preclude the Fund’s ability to invest in Stock Connect Securities. Trading in the Stock Connect program is subject to trading, clearance and settlement procedures that are untested in China, which could pose risks to the Fund. Finally, the withholding tax treatment of dividends and capital gains payable to overseas investors currently is unsettled. The application and interpretation of the laws and regulations of Hong Kong and China, and the rules, policies or guidelines published or applied by relevant regulators and exchanges in respect of the Stock Connect program, are uncertain, and they may have a detrimental effect on the Fund’s investments and returns. The Fund is actively managed and investment allocations can be expected to change, but there is no guarantee that the manager’s investment decisions will produce the desired results. The industry allocation uses MSCI's industry definitions for the convenience of comparison. The information provided is as of the date shown and comes from sources considered reliable, but the Fund makes no representation or warranty as to its completeness or accuracy.
* Equity includes convertible and preferred securities.
| TEMPLETON EMERGING MARKETS INCOME FUND | ||||||
| AS OF SEPTEMBER 30, 2017 | ||||||
| TOTAL NET ASSETS: $626,144,627 | ||||||
| NET ASSET VALUE PER SHARE: $13.05 | ||||||
| OUTSTANDING SHARES: 47,998,418 | ||||||
| ASSET ALLOCATION | PERCENT OF TOTAL NET ASSETS | PORTFOLIO CHARACTERISTICS | ||||
| CASH & CASH EQUIVALENTS | 12.8 | % | WEIGHTED AVG. MATURITY | 6.2742 yrs. | ||
| DERIVATIVES | 0.7 | % | WEIGHTED AVG. DURATION | 1.604 yrs. | ||
| FIXED INCOME | 86.5 | % | ||||
| 100.0 | % | |||||
| NET CURRENCY DISTRIBUTION* | PERCENT OF TOTAL NET ASSETS | COUNTRY DISTRIBUTION | PERCENT OF TOTAL NET ASSETS | |||
| ASIA | -4.5 | % | ASIA | 8.1 | % | |
| INDIAN RUPEE | 1.1 | % | INDIA | 1.1 | % | |
| INDO RUPIAH | 7.0 | % | INDONESIA | 7.0 | % | |
| JAPANESE YEN | -12.6 | % | EUROPE | 11.8 | % | |
| AUSTRALIA | -3.3 | % | CROATIA | 1.4 | % | |
| AUSTRALIAN DOLLAR | -3.3 | % | REPUBLIC OF ETHIOPIA | 1.7 | % | |
| EUROPE | -6.7 | % | REPUBLIC OF SERBIA | 1.9 | % | |
| EURO | -6.7 | % | UKRAINE | 6.8 | % | |
| LATIN AMERICA | 33.4 | % | LATIN AMERICA/CARIBBEAN | 26.9 | % | |
| ARGENTINE PESO | 6.9 | % | ARGENTINA | 6.9 | % | |
| BRAZILIAN REAL | 8.7 | % | BRAZIL | 8.7 | % | |
| COLOMBIAN PESO | 3.2 | % | CHILE | 2.1 | % | |
| MEXICAN PESO | 14.6 | % | COLOMBIA | 3.2 | % | |
| MID-EAST/AFRICA | 4.7 | % | COSTA RICA | 2.5 | % | |
| EGYPTIAN POUND | 0.1 | % | DOMINICAN REPUBLIC | 2.5 | % | |
| GHANA CEDI NEW | 3.2 | % | EL SALVADOR | 0.4 | % | |
| SOUTH AFRICAN RAND | 1.5 | % | MEXICO | 0.5 | % | |
| NORTH AMERICA | 76.4 | % | PERU | 0.1 | % | |
| US DOLLAR | 76.4 | % | MID-EAST/AFRICA | 38.5 | % | |
| TOTAL | 100.0 | % | EGYPT | 0.1 | % | |
| GHANA | 3.2 | % | ||||
| IRAQ | 4.1 | % | ||||
| KENYA | 7.6 | % | ||||
| MAURITUS | 1.0 | % | ||||
| SENEGAL | 4.8 | % | ||||
| THE DEMOCRATIC REPUBLIC OF THE CONGO | 1.7 | % | ||||
| SOUTH AFRICA | 4.4 | % | ||||
| ZAMBIA | 11.6 | % | ||||
| NORTH AMERICA | 1.1 | % | ||||
| BERMUDA | 0.5 | % | ||||
| CANADA | 0.6 | % | ||||
| OTHER | 13.5 | % | ||||
| CASH | 12.8 | % | ||||
| DERIVATIVES | 0.7 | % | ||||
| TOTAL | 100.0 | % | ||||
You may request a copy of the Fund's current Report to Shareholders by contacting Franklin Templeton’s Fund Information Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. Changes in interest rates will affect the value of the Fund’s portfolio and its share price and yield. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments of countries where the Fund invests. The Fund’s Investments in emerging market countries are subject to all of the risks of foreign investing generally, and have additional heightened risks due to these markets’ smaller size and lesser liquidity and lack of established legal, political, business and social frameworks to support securities markets, including: delays in settling portfolio securities transactions; currency and capital controls; greater sensitivity to interest rate changes; pervasiveness of corruption and crime; currency exchange rate volatility; and inflation, deflation or currency devaluation. Sovereign debt securities are subject to various risks in addition to those relating to debt securities and foreign securities generally, including, but not limited to, the risk that a government entity may be unwilling or unable to pay interest and repay principal on its sovereign debt, or otherwise meet its obligations when due. The markets for particular securities or types of securities are or may become relatively illiquid. Reduced liquidity will have an adverse impact on the security’s value and on the Fund’s ability to sell such securities when necessary to meet the Fund’s liquidity needs or in response to a specific market event. Derivatives, including currency management strategies, involve costs and can create economic leverage in the portfolio that may result in significant volatility and cause the Fund to participate in losses (as well as enable gains) on an amount that exceeds the Fund’s initial investment. The Fund may not achieve the anticipated benefits and may realize losses when a counterparty fails to perform as promised. As a nondiversified investment company, the Fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The Fund is actively managed and investment allocations can be expected to change, but there is no guarantee that the manager’s investment decisions will produce the desired results. The information provided is as of the date shown and comes from sources considered reliable, but the Fund makes no representation or warranty as to its completeness or accuracy. Figures may not total 100% or may be negative due to rounding, use of derivatives or other factors. The country weightings do not include the impact of currency forwards.
* Net currency distribution may include unsettled trades.
| TEMPLETON GLOBAL INCOME FUND | ||||||
| AS OF SEPTEMBER 30, 2017 | ||||||
| TOTAL NET ASSETS: $1,003,821,416 | ||||||
| NET ASSET VALUE PER SHARE: $7.48 | ||||||
| OUTSTANDING SHARES: 134,144,158 | ||||||
| ASSET ALLOCATION | PERCENT OF TOTAL NET ASSETS | PORTFOLIO CHARACTERISTICS | ||||
| CASH & CASH EQUIVALENTS | 29.8 | % | WEIGHTED AVG. MATURITY | 3.3788 yrs. | ||
| FIXED INCOME | 70.2 | % | WEIGHTED AVG. DURATION | -0.5404 yrs. | ||
| 100.0 | % | |||||
| NET CURRENCY DISTRIBUTION* | PERCENT OF TOTAL NET ASSETS | COUNTRY DISTRIBUTION | PERCENT OF TOTAL NET ASSETS | |||
| AFRICA | 3.4 | % | AFRICA | 3.4 | % | |
| GHANA CEDI NEW | 1.8 | % | GHANA | 1.8 | % | |
| SOUTH AFRICAN RAND | 1.6 | % | SOUTH AFRICA | 1.6 | % | |
| ASIA | -14.7 | % | ASIA | 23.8 | % | |
| INDIAN RUPEE | 12.6 | % | INDIA | 9.3 | % | |
| INDO RUPIAH | 10.0 | % | INDONESIA | 8.9 | % | |
| JAPANESE YEN | -31.8 | % | PHILIPPINES | 1.4 | % | |
| PHILIPPINE PESO | 1.4 | % | SOUTH KOREA | 4.3 | % | |
| SOUTH KOREAN WON | -6.8 | % | EUROPE | 0.6 | % | |
| AUSTRALIA | -8.8 | % | UKRAINE | 0.6 | % | |
| AUSTRALIAN DOLLAR | -8.8 | % | LATIN AMERICA | 41.3 | % | |
| EUROPE | -37.2 | % | ARGENTINA | 4.5 | % | |
| EURO | -37.2 | % | BRAZIL | 13.8 | % | |
| LATIN AMERICA | 46.4 | % | COLOMBIA | 4.1 | % | |
| ARGENTINE PESO | 4.5 | % | MEXICO | 15.7 | % | |
| BRAZILIAN REAL | 13.8 | % | PERU | 3.2 | % | |
| COLOMBIAN PESO | 4.1 | % | OTHER | 30.9 | % | |
| MEXICAN PESO | 20.8 | % | CASH | 29.8 | % | |
| PERU NUEVO SOL | 3.2 | % | SUPRANATIONAL | 1.1 | % | |
| NORTH AMERICA | 110.9 | % | TOTAL | 100.0 | % | |
| US DOLLAR | 110.9 | % | ||||
| TOTAL | 100.0 | % | ||||
You may request a copy of the Fund's current Report to Shareholders by contacting Franklin Templeton’s Fund Information Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. Changes in interest rates will affect the value of the Fund’s portfolio and its share price and yield. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments of countries where the Fund invests. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. Sovereign debt securities are subject to various risks in addition to those relating to debt securities and foreign securities generally, including, but not limited to, the risk that a government entity may be unwilling or unable to pay interest and repay principal on its sovereign debt, or otherwise meet its obligations when due. The markets for particular securities or types of securities are or may become relatively illiquid. Reduced liquidity will have an adverse impact on the security’s value and on the Fund’s ability to sell such securities when necessary to meet the Fund’s liquidity needs or in response to a specific market event. Derivatives, including currency management strategies, involve costs and can create economic leverage in the portfolio that may result in significant volatility and cause the Fund to participate in losses (as well as enable gains) on an amount that exceeds the Fund’s initial investment. The Fund may not achieve the anticipated benefits and may realize losses when a counterparty fails to perform as promised. As a nondiversified investment company, the Fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The Fund is actively managed and investment allocations can be expected to change, but there is no guarantee that the manager’s investment decisions will produce the desired results. The information provided is as of the date shown and comes from sources considered reliable, but the Fund makes no representation or warranty as to its completeness or accuracy. Figures may not total 100% or may be negative due to rounding, use of derivatives or other factors. The country weightings do not include the impact of currency forwards.
* Net currency distribution may include unsettled trades.
For more information, please contact Franklin Templeton Investments at 1-800-342-5236.