SOURCE: Franklin Templeton

Franklin Templeton

January 26, 2015 11:13 ET

Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, FL--(Marketwired - Jan 26, 2015) -  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 December 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 to retail, institutional and sovereign wealth clients in over 150 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 $880 billion in assets under management as of December 31, 2014. 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 DRAGON FUND, INC.
AS OF DECEMBER 31, 2014
TOTAL NET ASSETS: $925,020,378
NET ASSET VALUE PER SHARE: $26.35
OUTSTANDING SHARES: 35,106,298
 


ASSET ALLOCATION
PERCENT OF TOTAL NET ASSETS  

TEN LARGEST POSITIONS
PERCENT OF TOTAL NET ASSETS
CASH & OTHER 0.5%   DAIRY FARM INTERNATIONAL HOLDINGS LTD 10.4%
EQUITY* 99.5%   TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 7.5%
  100.0%   CHINA PETROLEUM & CHEMICAL CORP (SINOPEC) 5.5%
      CHINA CONSTRUCTION BANK CORP 5.2%
      PETROCHINA CO LTD 3.6%
      INDUSTRIAL AND COMMERCIAL BANK OF CHINA LTD 3.2%
      CNOOC LTD 3.1%
      CHINA MOBILE LTD 2.9%
      DONGFENG MOTOR GROUP CO LTD 2.7%
      CITIC SECURITIES CO LTD 2.7%
        46.8%
         

INTERNATIONAL ALLOCATION
PERCENT OF TOTAL NET ASSETS  

INDUSTRY ALLOCATION
PERCENT OF TOTAL NET ASSETS
ASIA 72.1%   CONSUMER DISCRETIONARY 9.5%
  CHINA 45.8%     AUTOMOBILES & COMPONENTS 6.4%
  HONG KONG 17.4%     CONSUMER DURABLES & APPAREL 1.6%
  TAIWAN 8.9%     CONSUMER SERVICES 0.3%
L. AMERICA/CARIBBEAN 27.9%     MEDIA 0.2%
  CAYMAN ISLANDS 27.9%     RETAILING 1.1%
TOTAL EQUITY* 100.0%   CONSUMER STAPLES 13.7%
        FOOD & STAPLES RETAILING 11.5%
        FOOD BEVERAGE & TOBACCO 2.3%
      ENERGY 13.0%
      FINANCIALS 37.6%
        BANKS 7.8%
        DIVERSIFIED FINANCIALS 27.9%
        INSURANCE 0.9%
        REAL ESTATE 1.0%
      HEALTH CARE 0.3%
        PHARMACEUTICALS, BIOTECHNOLOGY &
LIFE SCIENCES
0.3%
      INDUSTRIALS 4.1%
        CAPITAL GOODS 1.9%
        TRANSPORTATION 2.2%
      INFORMATION TECHNOLOGY 11.3%
        SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 7.5%
        SOFTWARE & SERVICES 2.6%
        TECHNOLOGY HARDWARE & EQUIPMENT 1.1%
      MATERIALS 4.0%
      TELECOMMUNICATION SERVICES 3.5%
      UTILITIES 3.0%
      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 DECEMBER 31, 2014
TOTAL NET ASSETS: $1,074,919,150
NET ASSET VALUE PER SHARE: $8.01
OUTSTANDING SHARES: 134,144,158
 


ASSET ALLOCATION
PERCENT OF TOTAL NET ASSETS  

PORTFOLIO CHARACTERISTICS
 
CASH & CASH EQUIVALENTS 6.2%   WEIGHTED AVG. MATURITY 4.1179 yrs.
DERIVATIVES 5.0%   WEIGHTED AVG. DURATION 2.3922 yrs.
FIXED INCOME 88.9%   WEIGHTED AVG. COUPON 4.9163%
  100.0%      
         


NET CURRENCY DISTRIBUTION
PERCENT OF TOTAL NET ASSETS  

COUNTRY DISTRIBUTION
PERCENT OF TOTAL NET ASSETS
ASIA 25.1%   ASIA 30.6%
  INDIAN RUPEE 5.8%     INDIA 2.2%
  INDO RUPIAH 3.1%     INDONESIA 3.1%
  JAPANESE YEN -23.9%     MALAYSIA 4.1%
  MALAYSI RINGGIT 15.4%     PHILIPPINES 0.7%
  PHILIPPINE PESO 0.7%     SINGAPORE 2.2%
  SOUTH KOREAN WON 16.1%     SOUTH KOREA 14.8%
  SINGAPORE DOLLAR 4.4%     SRI LANKA 3.6%
  SRI LANKA RUPEE 3.6%     VIETNAM 0.0%
EUROPE -10.8%   EUROPE 37.3%
  EURO -27.6%     HUNGARY 4.6%
  HUNGARY FORINT 1.1%     ICELAND 0.4%
  POLAND ZLOTY 11.9%     IRELAND 7.0%
  SWEDISH KRONA 3.7%     LITHUANIA 2.6%
LATIN AMERICA 31.0%     POLAND 11.1%
  BRAZILIAN REAL 9.0%     PORTUGAL 2.7%
  CHILEAN PESO 6.9%     RUSSIA 0.4%
  MEXICAN PESO 11.5%     SERBIA 0.6%
  PERU NUEVO SOL 3.6%     SLOVENIA 1.1%
NORTH AMERICA 54.7%     SWEDEN 3.3%
  US DOLLAR 54.7%     UKRAINE 3.4%
TOTAL 100.0%   LATIN AMERICA 19.6%
        BRAZIL 9.0%
        MEXICO 7.0%
        PERU 3.6%
      NORTH AMERICA -0.8%
        UNITED STATES -0.8%
      OTHER 13.3%
        SUPRANATIONAL 1.4%
        CASH 6.2%
        DERIVATIVES 5.8%
      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 DECEMBER 31, 2014
TOTAL NET ASSETS: $52,678,547
NET ASSET VALUE PER SHARE: $10.16
OUTSTANDING SHARES: 5,183,357
 


ASSET ALLOCATION
PERCENT OF TOTAL NET ASSETS  

TEN LARGEST POSITIONS
PERCENT
OF TOTAL NET ASSETS
CASH & OTHER 14.7%   SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA 10.0%
EQUITY* 85.3%   LUKOIL OAO 7.3%
  100.0%   MHP SA 6.6%
      SBERBANK OF RUSSIA 6.2%
      YANDEX NV 4.9%
      DIXY GROUP OJSC 4.9%
      GLOBALTRANS INVESTMENT PLC 4.6%
      KCELL JSC 4.4%
      TRANSGAZ SA MEDIAS 4.1%
      MAIL.RU GROUP LTD 3.7%
        56.7%
         
INTERNATIONAL ALLOCATION PERCENT OF TOTAL NET ASSETS   INDUSTRY ALLOCATION PERCENT OF TOTAL NET ASSETS
ASIA 5.3%   CONSUMER DISCRETIONARY 4.5%
  KAZAKHSTAN 5.3%     CONSUMER SERVICES 2.9%
EUROPE 91.8%     RETAILING 1.5%
  CZECH REPUBLIC 1.5%   CONSUMER STAPLES 18.7%
  ESTONIA 2.2%     FOOD & STAPLES RETAILING 10.6%
  POLAND 5.1%     FOOD BEVERAGE & TOBACCO 8.1%
  ROMANIA 19.4%   ENERGY 31.5%
  RUSSIA 55.4%   FINANCIALS 10.8%
  TURKEY 0.2%     BANKS 7.4%
  UKRAINE 7.9%     REAL ESTATE 3.4%
NORTH AMERICA 3.0%   HEALTH CARE 2.4%
  UNITED STATES 3.0%     HEALTH CARE EQUIPMENT & SERVICES 2.4%
    TOTAL EQUITY* 100.0%     PHARMACEUTICALS, BIOTECHNOLOGY & LIFE
SCIENCES
0.1%
          INDUSTRIALS 7.9%
            CAPITAL GOODS 0.4%
            TRANSPORTATION 7.5%
          INFORMATION TECHNOLOGY 17.8%
            SOFTWARE & SERVICES 17.8%
          MATERIALS 1.0%
          TELECOMMUNICATION SERVICES 5.5%
          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. 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 impair the Fund's ability to meet its investment objective. 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, may 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