SOURCE: Franklin Templeton

Franklin Templeton

December 20, 2016 12:51 ET

Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, FL--(Marketwired - Dec 20, 2016) - 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 November 30, 2016:

  • 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 Emerging Markets Fund (NYSE: EMF)
Templeton Emerging Markets Income Fund (NYSE: TEI)
Templeton Global Income Fund (NYSE: GIM)

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 180 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 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California-based company has more than 65 years of investment experience and over $714 billion in assets under management as of November 30, 2016. For more information, please visit franklintempleton.com.

This press release contains statistical data regarding the Funds' portfolios. The Funds' complete portfolio holdings are publicly available on a quarterly basis on Form N-Q, as well as in the Funds' Annual and Semi-Annual Reports 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 Funds' 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 EMERGING MARKETS FUND
AS OF NOVEMBER 30, 2016
TOTAL NET ASSETS: $245,983,979
NET ASSET VALUE PER SHARE: $13.78
OUTSTANDING SHARES: 17,857,104
 


ASSET ALLOCATION
PERCENT OF TOTAL NET ASSETS  

TEN LARGEST POSITIONS
  PERCENT OF TOTAL NET ASSETS
CASH & OTHER 3.0%   BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LTD   7.6%
EQUITY* 97.0%   SAMSUNG ELECTRONICS CO LTD   6.1%
  100.0%   TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD   5.5%
      NASPERS LTD   4.9%
      UNILEVER PLC   3.8%
      LUKOIL PJSC   3.8%
      ITAU UNIBANCO HOLDING SA   3.2%
      COMPANIA DE MINAS BUENAVENTURA SA   3.1%
      ASTRA INTERNATIONAL TBK PT   2.8%
      HON HAI PRECISION INDUSTRY CO LTD   2.0%
          42.8%
           
INTERNATIONAL ALLOCATION PERCENT OF PORTFOLIO NET ASSETS  

INDUSTRY ALLOCATION
  PERCENT OF PORTFOLIO NET ASSETS
ASIA 63.4%   CONSUMER DISCRETIONARY   24.5%
  CAMBODIA 0.2%     AUTOMOBILES & COMPONENTS   13.4%
  CHINA 19.2%     CONSUMER DURABLES & APPAREL   1.5%
  HONG KONG 2.0%     CONSUMER SERVICES   0.9%
  INDIA 6.4%     MEDIA   6.3%
  INDONESIA 4.8%     RETAILING   2.3%
  PAKISTAN 1.7%   CONSUMER STAPLES   8.1%
  PHILIPPINES 0.2%     FOOD & STAPLES RETAILING   1.4%
  SOUTH KOREA 13.9%     FOOD, BEVERAGE & TOBACCO   2.8%
  TAIWAN 10.1%     HOUSEHOLD & PERSONAL PRODUCTS   3.9%
  THAILAND 5.0%   ENERGY   11.2%
EUROPE 15.5%   FINANCIALS   16.2%
  CZECH REPUBLIC 0.3%     BANKS   15.4%
  HUNGARY 1.2%     DIVERSIED FINANCIALS   0.2%
  RUSSIA 9.4%     INSURANCE   0.5%
  TURKEY 0.7%   HEALTH CARE   1.5%
  UNITED KINGDOM 3.9%     PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   1.5%
LATIN AMERICA 12.3%   INDUSTRIALS   3.0%
  ARGENTINA 0.2%     CAPITAL GOODS   2.8%
  BRAZIL 8.0%     TRANSPORTATION   0.2%
  MEXICO 0.9%   INFORMATION TECHNOLOGY   26.9%
  PERU 3.2%     SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   7.2%
MID-EAST/AFRICA 7.9%     SOFTWARE & SERVICES   9.0%
JORDAN 0.2%     TECHNOLOGY HARDWARE & EQUIPMENT   10.7%
KENYA 0.4%   MATERIALS   7.3%
SAUDIA ARABIA 1.4%   REAL ESTATE   0.4%
SOUTH AFRICA 5.9%   TELECOMMUNICATION SERVICES   0.4%
NORTH AMERICA 0.9%   UTILITIES   0.4%
  UNITED STATES 0.9%   TOTAL EQUITY*   100.0%
TOTAL EQUITY* 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 social and political developments of countries where the Fund invests. Emerging markets are subject to all of the risks of foreign investing generally and involve 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. Some of these heightened risks may include political and social uncertainty (for example, regional conflicts and risk of war); pervasiveness of corruption and crime in these countries' economic systems; delays in settling portfolio securities transactions; risk of loss arising out of the system of share registration and custody used in these countries; greater sensitivity to interest rate changes; currency and capital controls; currency exchange rate volatility; and inflation, deflation or currency devaluation. The Fund may invest a portion of its assets in Russian securities. The U.S. and other nations have imposed and could impose additional sanctions on certain issuers in Russia due to regional conflicts. These sanctions could result in the devaluation of Russia's currency, a downgrade in Russian issuers' credit ratings, or a decline in the value and liquidity of Russian stocks or other securities. The Fund may be prohibited from investing in securities issued by companies subject to such sanctions. In addition, if the Fund holds the securities of an issuer that is subject to such sanctions, an immediate freeze of that issuer's securities could result, impairing the ability of the Fund to buy, sell, receive or deliver those securities. There is also the risk that countermeasures could be taken by Russia's government, which could involve the seizure of the Fund's assets. Such sanctions could adversely affect Russia's economy, possibly forcing the economy into a recession. These risks could affect the value of the Fund's portfolio. 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 NOVEMBER 30, 2016
TOTAL NET ASSETS: $578,100,960
NET ASSET VALUE PER SHARE: $12.04
OUTSTANDING SHARES: 47,998,418
 


ASSET ALLOCATION
PERCENT OF TOTAL NET ASSETS  

PORTFOLIO CHARACTERISTICS
   
CASH & CASH EQUIVALENTS 14.5%   WEIGHTED AVG. MATURITY   6.4657 yrs.
DERIVATIVES -0.2%   WEIGHTED AVG. DURATION   1.4835 yrs.
FIXED INCOME 85.7%        
  100.0%        
           
NET CURRENCY DISTRIBUTION* PERCENT OF TOTAL NET ASSETS   COUNTRY DISTRIBUTION   PERCENT OF TOTAL NET ASSETS
ASIA -0.4%   ASIA   9.5%
  INDIAN RUPEE 1.2%     INDIA   1.2%
  INDO RUPIAH 7.1%     INDONESIA   7.1%
  JAPANESE YEN -9.9%     SRI LANKA   1.2%
  SRI LANKA RUPEE 1.2%   EUROPE   14.0%
AUSTRALIA/NEW ZEALAND -3.4%     CROATIA   1.5%
  AUSTRALIAN DOLLAR -3.4%     REPUBLIC OF ETHIOPIA   1.6%
EUROPE -6.2%     REPUBLIC OF SERBIA   2.0%
  EURO -6.2%     RUSSIA   0.4%
LATIN AMERICA 22.6%     TURKEY   1.2%
  ARGENTINE PESO 7.0%     UKRAINE   7.3%
  BRAZILIAN REAL 7.9%   LATIN AMERICA/CARIBBEAN   29.3%
  COLOMBIAN PESO 3.2%     ARGENTINA   7.0%
  MEXICAN PESO 4.5%     BRAZIL   7.9%
MID-EAST/AFRICA 5.2%     CHILE   2.2%
  GHANA CEDI NEW 4.0%     COLOMBIA   3.2%
  SOUTH AFRICA RAND 1.1%     COSTA RICA   2.5%
NORTH AMERICA 82.2%     DOMINICAN REPUBLIC   2.4%
  US DOLLAR 82.2%     EL SALVADOR   0.4%
TOTAL 100.0%     MEXICO   3.6%
        PERU   0.1%
      MID-EAST/AFRICA   22.4%
        GHANA   3.9%
        IRAQ   3.9%
        KENYA   3.6%
        NIGERIA   1.4%
        SENEGAL   1.2%
        SOUTH AFRICA   2.2%
        ZAMBIA   6.3%
      NORTH AMERICA   10.6%
        BERMUDA   0.4%
        CANADA   1.7%
        UNITED STATES   8.4%
      OTHER   14.3%
        CASH   14.5%
        DERIVATIVES   -0.2%
      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. 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. The weightings do not include the impact of currency forwards within the country weightings.

* Net currency distribution may include unsettled trades.

 
TEMPLETON GLOBAL INCOME FUND
AS OF NOVEMBER 30, 2016
TOTAL NET ASSETS: $958,038,125
NET ASSET VALUE PER SHARE: $7.14
OUTSTANDING SHARES: 134,144,158
 


ASSET ALLOCATION
PERCENT OF TOTAL NET ASSETS  

PORTFOLIO CHARACTERISTICS
   
CASH & CASH EQUIVALENTS 16.8%   WEIGHTED AVG. MATURITY   4.6718 yrs.
DERIVATIVES 3.1%   WEIGHTED AVG. DURATION   0.3063 yrs.
FIXED INCOME 80.1%        
  100.0%        
           
NET CURRENCY DISTRIBUTION* PERCENT OF TOTAL NET ASSETS  

COUNTRY DISTRIBUTION
  PERCENT OF TOTAL NET ASSETS
ASIA 8.9%   ASIA   34.4%
  INDIAN RUPEE 8.4%     INDIA   4.7%
  INDO RUPIAH 10.4%     INDONESIA   9.3%
  JAPANESE YEN -27.6%     MALAYSIA   3.6%
  MALAYSI RINGGIT 12.4%     PHILIPPINES   4.1%
  PHILIPPINE PESO 4.1%     SOUTH KOREA   11.3%
  SOUTH KOREAN WON -0.4%     SRI LANKA   1.5%
  SRI LANKA RUPEE 1.5%   EUROPE   5.4%
AUSTRALIA/NEW ZEALAND -8.7%     PORTUGAL   0.9%
  AUSTRALIAN DOLLAR -8.7%     UKRAINE   4.5%
EUROPE -36.7%   LATIN AMERICA   39.0%
  EURO -36.7%     ARGENTINA   3.8%
LATIN AMERICA 50.1%     BRAZIL   12.7%
  ARGENTINE PESO 3.8%     COLOMBIA   3.6%
  BRAZILIAN REAL 12.7%     MEXICO   15.8%
  CHILEAN PESO 6.4%     PERU   3.2%
  COLOMBIAN PESO 3.6%   AFRICA   0.3%
  MEXICAN PESO 20.4%     SOUTH AFRICA   0.3%
  PERU NUEVO SOL 3.2%   OTHER   20.9%
AFRICA 0.3%     CASH   16.8%
  SOUTH AFRICA RAND 0.3%     DERIVATIVES   3.1%
NORTH AMERICA 86.1%     SUPRANATIONAL   1.0%
  US DOLLAR 86.1%   TOTAL   100.0%
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. 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. The weightings do not include the impact of currency forwards within the country weightings.

* Net currency distribution may include unsettled trades.

Contact Information

  • For more information, please contact
    Franklin Templeton Investments
    1-800-342-5236