Franklin Resources Amends 13D Filing for Templeton Global Income Fund

TL;DR

Franklin Resources updated its stake in Templeton Global Income Fund. Keep an eye on this.

AI Summary

Franklin Resources Inc. filed an amendment (No. 4) to its Schedule 13D on March 13, 2024, regarding its holdings in Templeton Global Income Fund. The filing indicates a change in the reporting person's beneficial ownership, though specific details on the exact percentage change or dollar amounts are not immediately available in this excerpt. The filing is an update to previous disclosures concerning their investment in the fund.

Why It Matters

This filing signals a potential shift in the investment strategy or stake of a major institutional investor in the Templeton Global Income Fund, which could influence the fund's performance and market perception.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in significant ownership stakes, which can lead to market volatility.

Key Numbers

• 4 — Amendment Number (Indicates this is the fourth update to the filing.)
• 20240313 — Filing Date (Date the amendment was filed with the SEC.)

Key Players & Entities

• Franklin Resources Inc. (company) — Reporting Person
• Templeton Global Income Fund (company) — Subject Company
• Virginia E. Rosas (person) — Assistant Secretary of Franklin Resources, Inc.

FAQ

Key Financial Figures

• $242,287.44 — ares for an aggregate purchase price of $242,287.44 (C. Johnson having acquired 10,996 Shar

Filing Documents

• temp24a4.htm (SC 13D/A) — 175KB
• 0000038777-24-000053.txt ( ) — 176KB

Security and Issuer

Item 1. Security and Issuer This statement relates to Shares of Beneficial Interest, without par value (the "Shares"), of Saba Capital Income & Opportunities Fund II (formerly known as Templeton Global Income Fund), a Delaware Statutory Trust (the "Issuer"). The Issuer's principal executive office is located at 300 S.E. 2 nd Street, Fort Lauderdale, FL 33301-1923.

Identity and Background

Item 2. Identity and Background (a), (f) This Schedule 13D is being filed by Charles B. Johnson ("C. Johnson"), Rupert H. Johnson, Jr. ("R. Johnson, Jr."), and Franklin Resources, Inc., a Delaware corporation ("FRI," and together with C. Johnson and R. Johnson, Jr., the "Reporting Persons"). C. Johnson and R. Johnson, Jr. are the principal stockholders of FRI. R. Johnson, Jr. is also the Vice Chairman of FRI and serves on the Board of Directors of Franklin Advisers, Inc., a California corporation that was formerly the investment manager of the Issuer and a wholly-owned subsidiary of FRI. C. Johnson is an Executive Consultant to FRI. C. Johnson and R. Johnson, Jr. are citizens of the United States. (b) The address of the principal business office of each of the Reporting Persons is One Franklin Parkway, San Mateo, California 94403-1906. The directors and principal executive officers of FRI, their present principal occupations, citizenship and business addresses are listed on Exhibit B. (c) The principal business of FRI is to act as a holding company for various subsidiaries engaged in the investment management and related services business. The principal occupations of C. Johnson and R. Johnson, Jr. are listed on Exhibit B. (d) During the last five years, none of the Reporting Persons, and to the best knowledge of the Reporting Persons, none of the persons listed on Exhibit B, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of the Reporting Persons, and to the best knowledge of the Reporting Persons, none of the persons listed on Exhibit B, was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with re

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration The Reporting Persons invested in the Issuer as follows: FRI acquired a total of 1,830,127 of the Shares for an aggregate purchase price of $ 8,204,300 . FRI paid for such Shares from its working capital. C. Johnson acquired a total of 54,047 of the Shares for an aggregate purchase price of $242,287.44 (C. Johnson having acquired 10,996 Shares for his personal account and paid for such Shares from his personal funds, and The Johnson Family Trust, of which C. Johnson is a trustee, having acquired 43,051 Shares and paid for such Shares from the trust's funds). R. Johnson, Jr. does not own any Shares directly.

Purpose of Transaction

Item 4. Purpose of Transaction The Reporting Persons hold the Shares for investment purposes. The Reporting Persons will routinely monitor the Issuer regarding a wide variety of factors that affect their investment considerations, including, current and anticipated future trading prices of the Shares and other securities, the Issuer's operations, assets, prospects and financial position, general economic, financial market and industry conditions, and other investment considerations. Depending on their evaluation of various factors, the Reporting Persons may take such actions regarding their holdings of the Issuer's securities as they deem appropriate in light of circumstances existing from time to time. Such actions may include purchasing additional Shares in the open market, through privately negotiated transactions with third parties or otherwise, and selling at any time, in the open market, through privately negotiated transactions with third parties or otherwise, all or part of the Shares now owned or hereafter acquired by any of them. In addition, from time to time the Reporting Persons and their representatives and advisers may communicate with other stockholders, industry participants and other interested parties about the Issuer. Except as described above, none of the investment management subsidiaries of FRI, and none of any of the other reporting persons covered by this Schedule 13D, currently has any plans or proposals that relate to or would result in any of the actions described in paragraphs (a) through (j) of the instructions to Item 4 of Schedule 13D, or any present plans or intentions to acquire or dispose of any securities of the Issuer.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer (a-b) C. Johnson and the Johnson Family Trust may be deemed to beneficially own the Shares reported herein for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Act"), in C. Johnson's capacity as Executive Consultant to FRI and Trustee of the Johnson Family Trust. CUSIP NO. 880198106 Page 6 of 13 C. Johnson and R. Johnson, Jr. (the "Principal Shareholders") each own in excess of 10% of FRI's outstanding common stock and are the principal stockholders of FRI. The Principal Shareholders may be deemed to be, for purposes of Rule 13d3 under the Act, the beneficial owners of securities held by FRI. The Principal Shareholders disclaim any pecuniary interest in any of the Shares reported herein, except as reported herein. In addition, the filing of the Schedule 13D on behalf of the Principal Shareholders should not be construed as an admission that any of them is, and each disclaims that he is, the beneficial owner, as defined in Rule 13d-3, of any of the Shares, except as reported herein. FRI and the Principal Shareholders believe that they are not a "group" within the meaning of Rule 13d-5 under the Act and that they are not otherwise required to attribute to each other the beneficial ownership of the Shares held by any of them. FRI did not acquire more than 5% of the Issuer's outstanding Shares until September 2, 2022. However, the Reporting Persons reported the date of the event giving rise to the obligation to file the initial Schedule 13D as August 31, 2022, on a precautionary basis, because on that date they in the aggregate beneficially owned (for purposes of Rule 13d-3) more than 5% of the Issuer's outstanding Shares. The number of Shares as to which each reporting person on this Schedule 13D has: (i)Sole power to vote or to direct the vote of the Shares: Franklin Resources, Inc.: 1,830,127 Charles B. Johnson 1 : 54,047 Rupert H. Johnson, Jr.: 0 (ii) Shared power to v

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Not applicable. 5 Includes 43,051 Shares held by the Johnson Family Trust. CUSIP NO. 880198106 Page 7 of 13

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. Exhibit A: Joint Filing Agreement Exhibit B: Principal Executive Officers and Directors of FRI Exhibit C: Transactions Reported Pursuant to Item 5(c) Exhibit D: Limited Powers of Attorney for Section 13 Reporting Obligations Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: March 13, 2024 Franklin Resources, Inc. Charles B. Johnson Rupert H. Johnson, Jr. By: /s/VIRGINIA E. ROSAS Virginia E. Rosas Assistant Secretary of Franklin Resources, Inc. AttorneyinFact for Charles B. Johnson AttorneyinFact for Rupert H. Johnson, Jr. CUSIP NO. 880198106 Page 8 of 13 EXHIBIT A JOINT FILING AGREEMENT In accordance with Rule 13d1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other of the attached statement on Schedule 13D and to all amendments to such statement and that such statement and all amendments to such statement are made on behalf of each of them. IN WITNESS WHEREOF, the undersigned have executed this agreement on March 13, 2024. Franklin Resources, Inc. Charles B. Johnson Rupert H. Johnson, Jr. By: /s/VIRGINIA E. ROSAS Virginia E. Rosas Assistant Secretary of Franklin Resources, Inc. AttorneyinFact for Charles B. Johnson AttorneyinFact for Rupert H. Johnson, Jr. CUSIP NO. 880198106 Page 9 of 13 EXHIBIT B PRINCIPAL EXECUTIVE OFFICERS, DIRECTORS AND PRINCIPAL STOCKHOLDERS OF REPORTING PERSONS Except where otherwise noted, each of the individuals named below is a citizen of the United States with a principal business address as indicated below. Name Principal Occupation Residence or Business Address Gregory E. Johnson Executive Chairman and Chairman of the Board, and a Director, FRI Franklin Resources, Inc. One Franklin Parkway San Mateo, CA 94403-1906 Rupert

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