Templeton Releases Closed-End Funds’ Portfolio Allocation Updates

3/22/2017, 4:26 PM (Source: GlobeNewswire)

FORT LAUDERDALE, Fla., March 22, 2017 (GLOBE NEWSWIRE) -- 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 February 28, 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 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 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 $738 billion in assets under management as of February 28, 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 EMERGING MARKETS FUND
AS OF FEBRUARY 28, 2017
TOTAL NET ASSETS: $268,041,028
NET ASSET VALUE PER SHARE: $15.18
OUTSTANDING SHARES: 17,660,916
 
 
ASSET ALLOCATIONPERCENT OF
TOTAL NET
ASSETS
  

TEN LARGEST POSITIONS
PERCENT OF
TOTAL NET
ASSETS
CASH & OTHER1.6% BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LTD7.0%
EQUITY*98.4% SAMSUNG ELECTRONICS CO LTD6.4%
 100.0% TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD5.5%
   NASPERS LTD4.9%
   UNILEVER PLC4.1%
   LUKOIL PJSC3.8%
   COMPANIA DE MINAS BUENAVENTURA SA3.1%
   ASTRA INTERNATIONAL TBK PT2.8%
   ALIBABA GROUP HOLDING LTD2.5%
   ITAU UNIBANCO HOLDING SA2.3%
    42.4%


INTERNATIONAL ALLOCATIONPERCENT OF
PORTFOLIO
NET ASSETS
  

INDUSTRY ALLOCATION
PERCENT OF
PORTFOLIO
NET ASSETS
ASIA64.1% CONSUMER DISCRETIONARY23.3%
CAMBODIA0.2% AUTOMOBILES & COMPONENTS12.8%
CHINA19.7% CONSUMER DURABLES & APPAREL1.2%
HONG KONG1.3% CONSUMER SERVICES0.7%
INDIA6.4% MEDIA6.1%
INDONESIA5.4% RETAILING2.4%
PAKISTAN1.6% CONSUMER STAPLES7.8%
PHILIPPINES0.2% FOOD & STAPLES RETAILING1.1%
SOUTH KOREA14.3% FOOD, BEVERAGE & TOBACCO2.5%
TAIWAN10.1% HOUSEHOLD & PERSONAL PRODUCTS4.2%
THAILAND4.9% ENERGY10.7%
EUROPE14.8% FINANCIALS17.3%
CZECH REPUBLIC0.3% BANKS16.0%
HUNGARY1.2% DIVERSIFIED FINANCIALS0.3%
RUSSIA9.1% INSURANCE1.0%
UNITED KINGDOM4.2% HEALTH CARE1.5%
LATIN AMERICA12.6% PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES1.5%
ARGENTINA0.2% INDUSTRIALS3.2%
BRAZIL7.5% CAPITAL GOODS3.1%
MEXICO1.7% TRANSPORTATION0.2%
PERU3.2% INFORMATION TECHNOLOGY  28.5%
MID-EAST/AFRICA7.6% SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT7.0%
JORDAN0.1% SOFTWARE & SERVICES10.4%
KENYA0.3% TECHNOLOGY HARDWARE & EQUIPMENT11.1%
SAUDIA ARABIA1.3% MATERIALS6.4%
SOUTH AFRICA6.0% REAL ESTATE0.4%
NORTH AMERICA0.8% TELECOMMUNICATION SERVICES0.4%
UNITED STATES0.8% UTILITIES0.4%
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 FEBRUARY 28, 2017
TOTAL NET ASSETS: $613,731,848
NET ASSET VALUE PER SHARE: $12.79
OUTSTANDING SHARES: 47,998,418
 
ASSET ALLOCATIONPERCENT OF
TOTAL NET
ASSETS
 PORTFOLIO CHARACTERISTICS 
CASH & CASH EQUIVALENTS17.0% WEIGHTED AVG. MATURITY6.5988 yrs.
DERIVATIVES-0.3% WEIGHTED AVG. DURATION1.8571 yrs.
FIXED INCOME83.3%   
 100.0%   


NET CURRENCY DISTRIBUTION*PERCENT OF
TOTAL NET
ASSETS
 COUNTRY DISTRIBUTIONPERCENT OF
TOTAL NET
ASSETS
ASIA-1.1% ASIA8.4%
INDIAN RUPEE1.1% INDIA1.1%
INDO RUPIAH7.1% INDONESIA7.1%
JAPANESE YEN-9.5% SRI LANKA0.2%
SRI LANKA RUPEE0.2% EUROPE11.8%
AUSTRALIA/NEW ZEALAND-3.3% CROATIA1.4%
AUSTRALIAN DOLLAR-3.3% REPUBLIC OF ETHIOPIA1.6%
EUROPE-6.1% REPUBLIC OF SERBIA1.9%
EURO-6.1% UKRAINE6.8%
LATIN AMERICA33.2% LATIN AMERICA/CARIBBEAN27.9%
ARGENTINE PESO7.9% ARGENTINA7.9%
BRAZILIAN REAL8.7% BRAZIL8.7%
COLOMBIAN PESO3.4% CHILE2.1%
MEXICAN PESO13.2% COLOMBIA3.4%
MID-EAST/AFRICA4.5% COSTA RICA2.5%
GHANA CEDI NEW3.4% DOMINICAN REPUBLIC2.4%
SOUTH AFRICA RAND1.2% EL SALVADOR0.4%
NORTH AMERICA72.7% MEXICO0.4%
US DOLLAR72.7% PERU0.1%
TOTAL 100.0% MID-EAST/AFRICA24.0%
   GHANA3.3%
   IRAQ4.0%
   KENYA3.5%
   SENEGAL1.1%
   SOUTH AFRICA5.7%
   ZAMBIA6.5%
   NORTH AMERICA11.2%
   BERMUDA0.5%
   CANADA1.7%
   UNITED STATES9.0%
   OTHER16.7%
   CASH17.0%
   DERIVATIVES-0.3%
   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 FEBRUARY 28, 2017
TOTAL NET ASSETS: $1,003,287,956
NET ASSET VALUE PER SHARE: $7.48
OUTSTANDING SHARES: 134,144,158
 
 ASSET ALLOCATIONPERCENT OF
TOTAL NET
ASSETS
 PORTFOLIO CHARACTERISTICS 
CASH & CASH EQUIVALENTS18.4% WEIGHTED AVG. MATURITY4.5863 yrs.
DERIVATIVES1.6% WEIGHTED AVG. DURATION0.5076 yrs.
FIXED INCOME80.0%   
 100.0%   
     


NET CURRENCY DISTRIBUTION*PERCENT OF
TOTAL NET
ASSETS
 COUNTRY DISTRIBUTIONPERCENT OF
TOTAL NET
ASSETS
AFRICA0.4% AFRICA0.4%
SOUTH AFRICA RAND0.4% SOUTH AFRICA0.4%
ASIA-4.4% ASIA32.2%
INDIAN RUPEE8.2% INDIA4.4%
INDO RUPIAH10.6% INDONESIA9.6%
JAPANESE YEN-30.1% MALAYSIA3.2%
MALAYSI RINGGIT3.4% PHILIPPINES3.8%
PHILIPPINE PESO3.8% SOUTH KOREA11.2%
SOUTH KOREAN WON-0.3% EUROPE4.7%
AUSTRALIA/NEW ZEALAND-8.6% PORTUGAL0.7%
AUSTRALIAN DOLLAR-8.6% UKRAINE4.0%
EUROPE-30.5% LATIN AMERICA41.7%
EURO-30.5% ARGENTINA4.4%
LATIN AMERICA52.6% BRAZIL13.9%
ARGENTINE PESO4.4% COLOMBIA3.8%
BRAZILIAN REAL13.9% MEXICO16.5%
CHILEAN PESO6.3% PERU3.1%
COLOMBIAN PESO3.8% OTHER20.9%
MEXICAN PESO21.0% CASH18.4%
PERU NUEVO SOL3.1% DERIVATIVES1.6%
NORTH AMERICA90.5% SUPRANATIONAL0.9%
US DOLLAR90.5% TOTAL 100.0%
TOTAL100.0%   
     

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 non-diversified 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.

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

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