Templeton Releases Closed-End Funds’ Portfolio Allocation Updates

9/19/2017, 5:08 PM (Source: GlobeNewswire)

FORT LAUDERDALE, Fla., Sept. 19, 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 August 31, 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 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 $747 billion in assets under management as of August 31, 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 AUGUST 31, 2017
TOTAL NET ASSETS: $321,004,078
NET ASSET VALUE PER SHARE: $18.32
OUTSTANDING SHARES: 17,526,360
 
ASSET ALLOCATIONPERCENT OF
TOTAL NET
ASSETS
 TEN LARGEST POSITIONSPERCENT OF
TOTAL NET
ASSETS
CASH & OTHER1.5% BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LTD7.8%
EQUITY*98.5% SAMSUNG ELECTRONICS CO LTD6.5%
 100.0% NASPERS LTD5.8%
   TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD5.3%
   ALIBABA GROUP HOLDING LTD3.7%
   UNILEVER PLC3.5%
   LUKOIL PJSC3.0%
   COMPANIA DE MINAS BUENAVENTURA SA2.9%
   TENCENT HOLDINGS LTD2.7%
   HON HAI PRECISION INDUSTRY CO LTD2.4%
    43.6%
     
INTERNATIONAL ALLOCATIONPERCENT OF
PORTFOLIO
NET ASSETS
 INDUSTRY ALLOCATIONPERCENT OF
PORTFOLIO
NET ASSETS
ASIA66.1% CONSUMER DISCRETIONARY23.3%
CAMBODIA0.1% AUTOMOBILES & COMPONENTS12.6%
CHINA22.2% CONSUMER DURABLES & APPAREL0.8%
HONG KONG1.3% CONSUMER SERVICES0.6%
INDIA5.6% MEDIA6.9%
INDONESIA4.2% RETAILING2.5%
PAKISTAN1.1% CONSUMER STAPLES7.0%
PHILIPPINES0.2% FOOD & STAPLES RETAILING1.0%
SOUTH KOREA15.3% FOOD, BEVERAGE & TOBACCO2.4%
TAIWAN11.6% HOUSEHOLD & PERSONAL PRODUCTS3.6%
THAILAND4.4% ENERGY8.1%
EUROPE13.6% FINANCIALS17.7%
CZECH REPUBLIC0.3% BANKS15.9%
HUNGARY1.2% DIVERSIFIED FINANCIALS0.5%
RUSSIA8.6% INSURANCE1.4%
UNITED KINGDOM3.6% HEALTH CARE1.9%
LATIN AMERICA11.7% PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES1.9%
BRAZIL7.1% INDUSTRIALS2.5%
MEXICO1.8% CAPITAL GOODS2.3%
PERU2.9% TRANSPORTATION0.2%
MID-EAST/AFRICA7.9% INFORMATION TECHNOLOGY32.1%
KENYA0.4% SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT7.2%
SAUDI ARABIA0.5% SOFTWARE & SERVICES12.9%
SOUTH AFRICA7.0% TECHNOLOGY HARDWARE & EQUIPMENT12.1%
NORTH AMERICA0.7% MATERIALS6.3%
UNITED STATES0.7% REAL ESTATE0.4%
TOTAL EQUITY*100.0% TELECOMMUNICATION SERVICES0.3%
   UTILITIES0.3%
   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 in eligible China A shares (“Stock Connect Securities”) listed and traded on the Shanghai Stock Exchange through the Shanghai-Hong Kong Stock Connect program, as well as eligible China A shares listed and traded on the Shenzhen Stock Exchange through the Shenzhen-Hong Kong Stock Connect program (collectively, “Stock Connect”). However, trading through Stock Connect is subject to a number of restrictions that may affect the Fund’s investments and returns. For example, investors in Stock Connect Securities are generally subject to Chinese securities regulations and the listing rules of the respective Exchange, among other restrictions. In addition, Stock Connect Securities generally may not be sold, purchased or otherwise transferred other than through Stock Connect in accordance with applicable rules. While Stock Connect is not subject to individual investment quotas, daily and aggregate investment quotas apply to all Stock Connect participants, which may restrict or preclude the Fund’s ability to invest in Stock Connect Securities. Trading in the Stock Connect program is subject to trading, clearance and settlement procedures that are untested in China, which could pose risks to the Fund. Finally, the withholding tax treatment of dividends and capital gains payable to overseas investors currently is unsettled. The application and interpretation of the laws and regulations of Hong Kong and China, and the rules, policies or guidelines published or applied by relevant regulators and exchanges in respect of the Stock Connect program, are uncertain, and they may have a detrimental effect on the Fund’s investments and returns. The Fund may also 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 GLOBAL INCOME FUND
AS OF AUGUST 31, 2017
TOTAL NET ASSETS: $989,459,460
NET ASSET VALUE PER SHARE: $7.38
OUTSTANDING SHARES: 134,144,158
 
ASSET ALLOCATIONPERCENT OF
TOTAL NET
ASSETS
 PORTFOLIO CHARACTERISTICS 
CASH & CASH EQUIVALENTS19.2% WEIGHTED AVG. MATURITY3.8979 yrs.
DERIVATIVES-2.0% WEIGHTED AVG. DURATION-0.1244 yrs.
FIXED INCOME82.8%   
 100.0%   
     
NET CURRENCY DISTRIBUTION*PERCENT OF
TOTAL NET
ASSETS
 COUNTRY DISTRIBUTIONPERCENT OF
TOTAL NET
ASSETS
AFRICA3.4% AFRICA3.4%
GHANA CEDI NEW1.7% GHANA1.7%
SOUTH AFRICA RAND1.7% SOUTH AFRICA1.7%
ASIA-8.0% ASIA31.9%
INDIAN RUPEE13.0% INDIA9.6%
INDO RUPIAH10.6% INDONESIA9.5%
JAPANESE YEN-33.1% PHILIPPINES 1.4%
PHILIPPINE PESO1.4% SOUTH KOREA11.5%
SOUTH KOREAN WON0.1% EUROPE  0.7%
AUSTRALIA-9.1% UKRAINE0.7%
AUSTRALIAN DOLLAR-9.1% LATIN AMERICA45.6%
EUROPE-38.0% ARGENTINA4.4%
EURO-38.0% BRAZIL14.9%
LATIN AMERICA50.8% COLOMBIA4.2%
ARGENTINE PESO4.4% MEXICO18.8%
BRAZILIAN REAL14.9% PERU3.2%
COLOMBIAN PESO4.2% OTHER18.3%
MEXICAN PESO24.0% CASH19.2%
PERU NUEVO SOL3.2% DERIVATIVES-2.0%
NORTH AMERICA100.9% SUPRANATIONAL1.1%
US DOLLAR100.9% 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. Sovereign debt securities are subject to various risks in addition to those relating to debt securities and foreign securities generally, including, but not limited to, the risk that a government entity may be unwilling or unable to pay interest and repay principal on its sovereign debt, or otherwise meet its obligations when due. 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. Figures may not total 100% or maybe negative due to rounding, use of derivatives or other factors. The country weightings do not include the impact of currency forwards.

* Net currency distribution may include unsettled trades.

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

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