Templeton Dragon Fund, Inc. Announces Management Fee Decrease

Rhea-AI Summary

Templeton Dragon Fund, Inc. (NYSE: TDF) has announced a reduction in management fees, effective May 1, 2023, as approved by its board on March 27, 2023. This strategic move is projected to enhance shareholder value. The new fee structure includes an annualized rate of 1.10% for net assets up to $1 billion, dropping to 1.00% for assets over $2 billion. Previously, fees were as high as 1.25% for the same asset tier. The fee reductions are expected to improve net returns for investors, aligning interests between the fund and its shareholders.

Positive

• Management fee reduction from 1.25% to 1.10% for up to $1 billion in assets.
• Further reduction to 1.00% for assets over $2 billion.
• Approved by board, signaling commitment to shareholder value.

Negative

• None.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230411005368/en/

Franklin Templeton, 1-800-342-5236

Source: Templeton Dragon Fund, Inc.

FAQ

What is the new management fee for Templeton Dragon Fund, Inc. (TDF) effective May 1, 2023?

The new management fee is 1.10% for net assets up to $1 billion, decreasing to 1.00% for assets over $2 billion.

When was the management fee reduction for TDF approved?

The management fee reduction was approved by the board on March 27, 2023.

How does the management fee reduction benefit TDF shareholders?

The management fee reduction is expected to enhance net returns for shareholders by lowering costs.

What were the previous management fees for Templeton Dragon Fund, Inc. (TDF)?

The previous fees were 1.25% for up to $1 billion and as high as 1.20% for higher asset tiers.