SOURCE: Franklin Templeton

Franklin Templeton

April 17, 2014 16:04 ET

Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, FL--(Marketwired - Apr 17, 2014) - 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, 2014:

  • 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, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over $886 billion in assets under management as of March 31, 2014. For more information, please call 1-800/DIAL BEN® or 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 DRAGON FUND, INC.
AS OF MARCH 31, 2014
TOTAL NET ASSETS: $984,504,452
NET ASSET VALUE PER SHARE: $27.64
OUTSTANDING SHARES: 35,600,216
 

ASSET ALLOCATION
  PERCENT OF TOTAL NET ASSETS  
TEN LARGEST POSITIONS
  PERCENT OF TOTAL NET ASSETS
CASH & OTHER   3.8%   DAIRY FARM INTERNATIONAL HOLDINGS LTD   15.3%
EQUITY*   96.2%   CHINA PETROLEUM & CHEMICAL CORP (SINOPEC)   10.4%
    100.0%   TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD   6.2%
        PETROCHINA CO LTD   5.4%
        CNOOC LTD   4.7%
        CHINA MOBILE LTD   3.8%
        CHINA CONSTRUCTION BANK   3.4%
        GREAT WALL MOTOR COMPANY LTD   2.6%
        CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD   2.4%
        BANK OF CHINA LTD   2.3%
            56.5%
             
INTERNATIONAL ALLOCATION   PERCENT OF TOTAL NET ASSETS   INDUSTRY ALLOCATION   PERCENT OF TOTAL NET ASSETS
ASIA   100.0%   CONSUMER DISCRETIONARY   11.9%
  CHINA   64.2%     AUTOMOBILES & COMPONENTS   8.4%
  HONG KONG   23.8%     CONSUMER DURABLES & APPAREL   1.3%
  TAIWAN   11.9%     CONSUMER SERVICES   0.6%
TOTAL EQUITY*   100.0%     MEDIA   0.2%
          RETAILING   1.4%
        CONSUMER STAPLES   19.6%
          FOOD & STAPLES RETAILING   18.0%
          FOOD BEVERAGE & TOBACCO   1.6%
        ENERGY   24.5%
        FINANCIALS   11.7%
          BANKS   8.9%
          INSURANCE   0.8%
          REAL ESTATE   2.0%
        HEALTH CARE   0.5%
          PHARMACEUTICALS, BIOTECHNOLOGY &
LIFE SCIENCES
 
0.5%
        INDUSTRIALS   5.6%
          CAPITAL GOODS   3.9%
          TRANSPORTATION   1.7%
        INFORMATION TECHNOLOGY   11.4%
          SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   7.9%
          SOFTWARE & SERVICES   1.5%
          TECHNOLOGY HARDWARE & EQUIPMENT   1.9%
        MATERIALS   6.2%
        TELECOMMUNICATION SERVICES   4.9%
        UTILITIES   3.7%
        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 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 GLOBAL INCOME FUND
AS OF MARCH 31, 2014
TOTAL NET ASSETS: $1,137,012,785
NET ASSET VALUE PER SHARE: $8.48
OUTSTANDING SHARES: 134,144,158
 
ASSET ALLOCATION   PERCENT OF TOTAL NET ASSETS   PORTFOLIO CHARACTERISTICS  
CASH & CASH EQUIVALENTS   8.2%   WEIGHTED AVG. MATURITY   3.6310 yrs.
DERIVATIVES   -0.4%   WEIGHTED AVG. DURATION   2.3151 yrs.
FIXED INCOME   92.1%   WEIGHTED AVG. COUPON   5.4211%
    100.0%        
             
NET CURRENCY DISTRIBUTION   PERCENT OF TOTAL NET ASSETS  
COUNTRY DISTRIBUTION
  PERCENT OF TOTAL NET ASSETS
ASIA   27.5%   ASIA   31.2%
  INDIAN RUPEE   3.6%     INDONESIA   3.1%
  INDO RUPIAH   3.1%     MALAYSIA   4.4%
  JAPANESE YEN   -21.2%     PHILIPPINES   1.0%
  MALAYSI RINGGIT   16.0%     SINGAPORE   2.2%
  PHILIPPINE PESO   1.0%     SOUTH KOREA   16.5%
  SOUTH KOREAN WON   17.5%     SRI LANKA   3.1%
  SINGAPORE DOLLAR   4.4%     VIETNAM   0.9%
  SRI LANKA RUPEE   3.1%   EUROPE   42.6%
EUROPE   -4.6%     HUNGARY   4.7%
  EURO   -31.6%     ICELAND   0.3%
  HUNGARY FORINT   1.2%     IRELAND   11.2%
  POLAND ZLOTY   13.4%     LITHUANIA   2.5%
  SWEDISH KRONA   12.5%     POLAND   12.4%
LATIN AMERICA   28.7%     RUSSIA   0.5%
  BRAZILIAN REAL   8.4%     SERBIA   0.6%
  CHILEAN PESO   7.2%     SLOVENIA   1.0%
  MEXICAN PESO   9.6%     SWEDEN   4.5%
  PERU NUEVO SOL   3.5%     UKRAINE   4.9%
NORTH AMERICA   48.4%   LATIN AMERICA   16.8%
  US DOLLAR   48.4%     BRAZIL   8.4%
TOTAL   100.0%     MEXICO   4.9%
          PERU   3.5%
        NORTH AMERICA   -0.3%
          UNITED STATES   -0.3%
        OTHER   9.6%
          SUPRANATIONAL   1.4%
          CASH   8.2%
        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. 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 Fund's use of foreign currency techniques involves special risks as such techniques may not achieve the anticipated benefits and/or may result in losses to the Fund. Also, 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.

 
TEMPLETON RUSSIA AND EAST EUROPEAN FUND, INC.
AS OF MARCH 31, 2014
TOTAL NET ASSETS: $81,005,763
NET ASSET VALUE PER SHARE: $14.76
OUTSTANDING SHARES: 5,490,113
 

ASSET ALLOCATION
  PERCENT OF TOTAL NET ASSETS  
TEN LARGEST POSITIONS
  PERCENT OF TOTAL NET ASSETS
CASH & OTHER   10.5%   SBERBANK OF RUSSIA   10.2%
EQUITY*   89.5%   GLOBALTRANS INVESTMENT PLC   7.1%
    100.0%   MHP SA   6.2%
        SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA   6.2%
        LUKOIL OAO   4.9%
        KCELL JSC   4.8%
        GAZPROM OAO   4.5%
        DIXIE GROUP OJSC   3.9%
        ETALON GROUP LTD   3.3%
        YANDEX NV   3.0%
            54.2%
             
INTERNATIONAL ALLOCATION   PERCENT OF TOTAL NET ASSETS   INDUSTRY ALLOCATION   PERCENT OF TOTAL NET ASSETS
ASIA   8.1%   CONSUMER DISCRETIONARY   4.6%
  KAZAKHSTAN   8.1%     CONSUMER SERVICES   2.3%
EUROPE   90.7%     RETAILING   2.3%
  CZECH REPUBLIC   1.2%   CONSUMER STAPLES   15.9%
  ESTONIA   2.1%     FOOD & STAPLES RETAILING   7.5%
  POLAND   8.5%     FOOD BEVERAGE & TOBACCO   8.5%
  ROMANIA   12.3%   ENERGY   32.7%
  RUSSIA   51.7%   FINANCIALS   23.0%
  TURKEY   8.0%     BANKS   17.1%
  UKRAINE   6.9%     DIVERSIFIED FINANCIALS   2.2%
MID-EAST/AFRICA   1.2%     REAL ESTATE   3.7%
  TURKMENISTAN   1.2%   HEALTH CARE   2.2%
TOTAL EQUITY*   100.0%     HEALTH CARE EQUIPMENT & SERVICES   2.1%
          PHARMACEUTICALS, BIOTECHNOLOGY &
LIFE SCIENCES
 
0.1%
        INDUSTRIALS   8.9%
          CAPITAL GOODS   1.0%
          TRANSPORTATION   8.0%
        INFORMATION TECHNOLOGY   7.2%
          SOFTWARE & SERVICES   6.6%
          TECHNOLOGY HARDWARE & EQUIPMENT   0.6%
        MATERIALS   0.2%
        TELECOMMUNICATION SERVICES   5.4%
        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 involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. Investments in Russian and East European securities involve significant additional risks, including political and social uncertainty (for example, regional conflicts and risk of war), currency exchange rate volatility, pervasiveness of corruption and crime in the Russian and East European economic systems, delays in settling portfolio transactions, and risk of loss arising out of the system of share registration and custody used in Russia and East European countries. 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 Russia and East European countries, the Fund may invest in a relatively small number of issuers and, as a result, be subject to 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 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.

Contact Information

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