Templeton Dragon Fund, Inc. Announces Executive Changes
July 31, 2019
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Templeton Dragon Fund, Inc. announced that Michael Lai will join Franklin Templeton on August 5, 2019 as Senior Vice President and Portfolio Manager, China Equities within Franklin Templeton Emerging Markets Equity’s (FTEME) China investment team and become lead portfolio manager for the Fund. Lai will replace Eddie Chow effective August 5, 2019. Chow will retire from Franklin Templeton effective September 1, 2019, after 25 years of service to the firm. Lai will be based in Hong Kong and will serve as a portfolio manager focusing on FTEME’s China equity strategies. He brings over three decades of investment experience and joins the firm from GAM Investments (GAM), where he was lead portfolio manager of GAM’s China equity strategy since its inception in 2007. He also headed GAM’s Asian equity team in Hong Kong and was lead portfolio manager of GAM’s Asian strategy and co-manager for additional strategies.
In addition to Lai, Yu-Jen Shih will be added as a portfolio manager on the Fund, effective August 5, 2019. Shih joined FTEME in 2018 as portfolio manager with a focus on Asia. Based in Singapore, he brings over two decades of global and Asia investment experience.
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.