Templeton Dragon Fund, Inc. Announces Management Fee Decrease
April 11, 2023 at 08:11 am EDT
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TEMPLETON DRAGON FUND, INC. (NYSE: TDF) (“TDF” or the “Fund”) today announced a management fee reduction, which will become effective on May 1, 2023. The Fund’s investment management fee reduction, as described below, was approved by the board of trustees on March 27, 2023. Management believes that the reduced management fee will benefit shareholders.
New Management Fees (effective May 1, 2023):
Annualized Fee Rate
Net Assets
1.10%
Up to and including $1 billion
1.05%
Over $1 billion, up to and including $2 billion
1.00%
Over $2 billion
Current Management Fees:
Annualized Fee Rate
Net Assets
1.25%
Up to and including $1 billion
1.20%
Over $1 billion, up to and including $5 billion
1.15%
Over $5 billion, up to and including $10 billion
1.10%
Over $10 billion, up to and including $15 billion
1.05%
Over $15 billion, up to and including $20 billion
1.00%
Over $20 billion
Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 75 years of investment experience and approximately $1.4 trillion in assets under management as of February 28, 2023. For more information, please visit franklintempleton.com.
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Templeton Dragon Fund, Inc. is a closed-end management investment company. The Fund seeks long-term capital appreciation by investing at least 45% of its total assets in equity securities of China companies. The Fund may invest in companies listed on exchanges in mainland China, Hong Kong, Taiwan, or elsewhere. It invests in various sectors, including air freight and logistics; automobiles; banks; beverages; biotechnology; capital markets; chemicals; construction materials; containers and packaging; electrical equipment; instruments and components; entertainment; food and staples retailing; food products; health care equipment and supplies; health care providers and services; hotels, restaurants and leisure; insurance; interactive media and services; Internet and direct marketing retail; information technology (IT) services; life science tools and services; machinery; media; metals and mining; pharmaceuticals, and others. The Fund's investment manager is Templeton Asset Management Ltd.