SOURCE: Franklin Resources, Inc.

Franklin Resources, Inc.

April 20, 2009 13:52 ET

Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, FL--(Marketwire - April 20, 2009) - 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 March 31, 2009:

--  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 Global Income Fund (NYSE: GIM)
     Templeton Russia and East European Fund, Inc. (NYSE: TRF)

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 solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $391 billion in assets under management as of March 31, 2009. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

                         TEMPLETON DRAGON FUND, INC.
                            AS OF MARCH 31, 2009
                        TOTAL NET ASSETS: $726,761,098
                      NET ASSET VALUE PER SHARE: $19.19


            PERCENT                                              PERCENT
            OF TOTAL                                             OF TOTAL
ASSET         NET                                                  NET
ALLOCATION   ASSETS    TEN LARGEST POSITIONS                      ASSETS
----------  ---------  ----------------------------------------- ---------
CASH & OTHER      1.2% DAIRY FARM INTERNATIONAL HOLDINGS LTD          18.8%
EQUITY*          98.8% CHINA MOBILE LTD                                9.3%
            ---------  CHINA PETROLEUM & CHEMICAL CORP (SINOPEC)       8.6%
                100.0% PETROCHINA CO LTD                               5.8%
                       CNOOC LTD                                       4.9%
                       CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD         4.4%
                       CHINA CONSTRUCTION BANK                         3.9%
                       TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD       3.4%
                       SHANGHAI INDUSTRIAL HOLDINGS LTD                2.6%
                       HOPEWELL HOLDINGS LTD                           2.6%
                                                                 ---------
                                                                      64.3%


                    PERCENT                                       PERCENT
                    OF TOTAL                                      OF TOTAL
INTERNATIONAL         NET                                           NET
ALLOCATION           ASSETS    INDUSTRY ALLOCATION                 ASSETS
-----------------   ---------  ---------------------------------- --------
ASIA                    100.0% CONSUMER DISCRETIONARY                  7.4%
-----------------   ---------  ---------------------------------- --------
  CAMBODIA                0.2%   AUTOMOBILES & COMPONENTS              4.9%
  CHINA                  58.4%   CONSUMER DURABLES & APPAREL           0.6%
  HONG KONG              29.9%   CONSUMER SERVICES                     0.2%
  SINGAPORE               0.1%   MEDIA                                 0.1%
  TAIWAN                 11.4%   RETAILING                             1.7%
                    ---------  ---------------------------------- --------
TOTAL NET ASSETS        100.0% CONSUMER STAPLES                       20.9%
                    ---------  ---------------------------------- --------
                                 FOOD & STAPLES RETAILING             19.2%
                                 FOOD BEVERAGE & TOBACCO               1.7%
                               ---------------------------------- --------
                               ENERGY                                 22.9%
                               ---------------------------------- --------
                               FINANCIALS                             14.4%
                               ---------------------------------- --------
                                 BANKS                                 8.1%
                                 INSURANCE                             1.9%
                                 REAL ESTATE                           4.4%
                               ---------------------------------- --------
                               HEALTH CARE                             0.1%
                               ---------------------------------- --------
                                 PHARMACEUTICALS, BIOTECHNOLOGY
                                  & LIFE SCIENCES                      0.1%
                               ---------------------------------- --------
                               INDUSTRIALS                             5.7%
                               ---------------------------------- --------
                                 CAPITAL GOODS                         4.4%
                                 TRANSPORTATION                        1.3%
                               ---------------------------------- --------
                               INFORMATION TECHNOLOGY                  9.4%
                               ---------------------------------- --------
                                 SEMICONDUCTORS & SEMICONDUCTOR
                                  EQUIPMENT                            4.5%
                                 SOFTWARE & SERVICES                   0.9%
                                 TECHNOLOGY HARDWARE & EQUIPMENT       4.0%
                               ---------------------------------- --------
                               MATERIALS                               0.3%
                               ---------------------------------- --------
                               TELECOMMUNICATION SERVICES             11.7%
                               ---------------------------------- --------
                               UTILITIES                               7.2%
                               ---------------------------------- --------
                               TOTAL NET ASSETS                      100.0%
                               ---------------------------------- --------




You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800-DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates 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. You may have a gain or loss when you sell your shares. 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. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* Equity includes convertible and preferred securities.


                        TEMPLETON GLOBAL INCOME FUND
                            AS OF MARCH 31, 2009
                      TOTAL NET ASSETS: $1,051,665,626
                      NET ASSET VALUE PER SHARE: $8.02


                        PERCENT
                        OF TOTAL
                          NET
ASSET ALLOCATION         ASSETS    PORTFOLIO CHARACTERISTICS
----------------        ---------  ---------------------------- ---------
CASH & OTHER                 14.3% WEIGHTED AVG. CREDIT QUALITY A
FIXED INCOME                 85.7% WEIGHTED AVG. MATURITY       9.21 yrs.
                        ---------  WEIGHTED AVG. DURATION       6.224 yrs.
                            100.0% WEIGHTED AVG. COUPON         6.024%




                            PERCENT OF                         PERCENT OF
                            TOTAL NET                          TOTAL NET
NET CURRENCY DISTRIBUTION    ASSETS      COUNTRY DISTRIBUTION   ASSETS
-------------------------   -----------  --------------------- -----------
ASIA                               46.3% ASIA                         23.9%
-------------------------   -----------  --------------------- -----------
  CHINESE YUAN                      9.8%   INDONESIA                   8.9%
  INDIAN RUPEE                      1.7%   MALAYSIA                    1.4%
  INDO RUPIAH                       8.6%   PHILIPPINES                 0.1%
  JAPANESE YEN                     10.1%   SOUTH KOREA                13.5%
  MALAYSI RINGGIT                  16.1% --------------------- -----------
  SOUTH KOREA WON                  12.9% AUSTRALIA/NEW ZEALAND         8.1%
  SINGAPORE DOLLAR                -13.8% --------------------- -----------
  VIETNAM DONG                      1.0%   AUSTRALIA                   7.0%
-------------------------   -----------    NEW ZEALAND                 1.1%
AUSTRALIA/NEW ZEALAND               2.4% --------------------- -----------
-------------------------   -----------  EUROPE                       18.8%
  AUSTRALIAN DOLLAR                 2.6% --------------------- -----------
  NEW ZEALAND DOLLAR               -0.1%   FRANCE                      3.2%
-------------------------   -----------    HUNGARY                     2.1%
EUROPE                              3.5%   POLAND                      2.6%
-------------------------   -----------    RUSSIA                      6.4%
  BRITISH POUND                     0.1%   SWEDEN                      4.6%
  EURO                            -22.5% --------------------- -----------
  KAZAKHSTAN TENGE                  1.0% LATIN AMERICA                19.1%
  NORWEGIAN KRONE                   1.7% --------------------- -----------
  POLAND ZLOTY                      6.1%   ARGENTINA                   2.2%
  RUSSIAN RUBLE                     6.0%   BRAZIL                      6.4%
  SWEDISH KRONA                     8.7%   MEXICO                      5.1%
  SWISS FRANC                       2.4%   PERU                        3.5%
-------------------------   -----------    VENEZUELA                   1.9%
LATIN AMERICA                      26.1% --------------------- -----------
-------------------------   -----------  MID-EAST/AFRICA               4.0%
  BRAZILIAN REAL                    6.4% --------------------- -----------
  CHILEAN PESO                      6.3%   EGYPT                       3.0%
  MEXICAN PESO                      9.9%   SOUTH AFRICA                1.0%
  PERU NUEVO SOL                    3.5% --------------------- -----------
-------------------------   -----------  NORTH AMERICA                 7.0%
MID-EAST/AFRICA                     3.0% --------------------- -----------
-------------------------   -----------    CANADA                      1.3%
  EGYPTIAN POUND                    3.0%   UNITED STATES               5.7%
-------------------------   -----------  --------------------- -----------
NORTH AMERICA                      18.8% OTHER                        19.2%
-------------------------   -----------  --------------------- -----------
  US DOLLAR                        18.8%   SUPRANATIONAL               7.8%
-------------------------   -----------    CASH                        6.9%
TOTAL                             100.0%   DERIVATIVES                 4.6%
-------------------------   -----------  --------------------- -----------
                                         TOTAL                       100.0%
                                         --------------------- -----------


You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800/DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates 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. You may have a gain or loss when you sell your shares. 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. The Fund's portfolio is actively managed and investment allocations can be expected to change.

             TEMPLETON RUSSIA AND EAST EUROPEAN FUND, INC.
                         AS OF MARCH 31, 2009
                    TOTAL NET ASSETS: $42,952,726
                  NET ASSET VALUE PER SHARE: $7.48



                PERCENT                                           PERCENT
                OF TOTAL                                          OF TOTAL
ASSET            NET                                                NET
ALLOCATION      ASSETS    TEN LARGEST POSITIONS                    ASSETS
------------    --------  --------------------------------------- --------
CASH & OTHER        22.3% MOBILE TELESYSTEMS OJSC                     11.1%
EQUITY*             77.7% CHEREPOVETS MK SEVERSTAL                     9.0%
                --------  LUKOIL HOLDINGS                              8.8%
                   100.0% GAZPROM OAO                                  7.3%
                          SBERBANK RF                                  5.5%
                          VEROPHARM                                    4.8%
                          VIMPEL COMMUNICATIONS                        4.7%
                          EGIS NYRT                                    3.9%
                          KERNEL HOLDING SA                            3.7%
                          MECHEL OAO                                   3.7%
                                                                  --------
                                                                      62.7%




               PERCENT                                            PERCENT
               OF TOTAL                                           OF TOTAL
INTERNATIONAL    NET                                                NET
 ALLOCATION     ASSETS   INDUSTRY ALLOCATION                      ASSETS
------------    -------- ---------------------------------------- --------
EUROPE             96.0% CONSUMER DISCRETIONARY                        4.0%
------------    -------- ---------------------------------------- --------
  HUNGARY           5.0%   MEDIA                                       4.0%
  LUXEMBOURG        4.8% ---------------------------------------- --------
  RUSSIA           85.0% CONSUMER STAPLES                              5.9%
  UKRAINE           1.1% ---------------------------------------- --------
------------    --------   FOOD BEVERAGE & TOBACCO                     5.9%
NORTH AMERICA       4.0% ---------------------------------------- --------
------------    -------- ENERGY                                       25.0%
  UNITED STATES     4.0% ---------------------------------------- --------
------------    -------- FINANCIALS                                    7.1%
TOTAL EQUITY*     100.0% ---------------------------------------- --------
------------    -------- HEALTH CARE                                  11.3%
                         ---------------------------------------- --------
                           PHARMACEUTICALS, BIOTECHNOLOGY &
                            LIFE SCIENCES                             11.3%
                         ---------------------------------------- --------
                         MATERIALS                                    21.4%
                         ---------------------------------------- --------
                         TELECOMMUNICATION SERVICES                   25.1%
                         ---------------------------------------- --------
                         UTILITIES                                     0.2%
                         ---------------------------------------- --------
                         TOTAL EQUITY*                               100.0%
                         ---------------------------------------- --------


You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800-DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates 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. You may have a gain or loss when you sell your shares. 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. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* Equity includes convertible and preferred securities.

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

Contact Information

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