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 OFTOTAL
NETASSETS |
|
TEN LARGEST POSITIONS |
PERCENT OFTOTAL
NETASSETS |
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 |
% |
|
|
|
|
|
|
|
INTERNATIONALALLOCATION |
PERCENT OFTOTAL NETASSETS |
|
INDUSTRY ALLOCATION |
PERCENT OF TOTAL NETASSETS |
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 OFTOTAL NETASSETS |
|
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 OFTOTAL NETASSETS |
|
COUNTRY DISTRIBUTION |
PERCENT OFTOTAL NETASSETS |
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 OFTOTAL NETASSETS |
|
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 OFTOTAL NETASSETS |
|
COUNTRY DISTRIBUTION |
PERCENT OFTOTAL NETASSETS |
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.
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