City of London IM Discloses 7.9M Share Stake in Templeton Dragon Fund
Ticker: TDF · Form: SC 13G · Filed: Jan 4, 2024 · CIK: 919893
| Field | Detail |
|---|---|
| Company | Templeton Dragon Fund Inc (TDF) |
| Form Type | SC 13G |
| Filed Date | Jan 4, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, fund-activity
TL;DR
**City of London IM just bought a huge chunk of Templeton Dragon Fund, signaling bullish institutional interest.**
AI Summary
City of London Investment Management Co Ltd, a UK-based firm, has reported a significant stake in Templeton Dragon Fund, Inc. (TDF) as of January 3, 2024. They now beneficially own 7,933,984 shares of TDF's Common Stock, representing a substantial portion of the company. This matters to investors because it signals a major institutional investor's confidence in TDF, potentially influencing market perception and future stock performance.
Why It Matters
This filing indicates a large institutional investor has taken a significant position, which can be seen as a vote of confidence in Templeton Dragon Fund, Inc. and may attract other investors.
Risk Assessment
Risk Level: low — This filing generally indicates a positive development as a large institutional investor has taken a significant stake, which typically reduces risk.
Analyst Insight
A smart investor would view this as a positive signal, indicating institutional confidence in Templeton Dragon Fund, Inc., and might consider further research into TDF's fundamentals or the reasons behind City of London IM's investment.
Key Numbers
- 7,933,984 — Shares Beneficially Owned (Represents the total number of Common Stock shares of Templeton Dragon Fund, Inc. held by City of London Investment Management Company Limited.)
- 88018T101 — CUSIP Number (Unique identification number for Templeton Dragon Fund, Inc.'s Common Stock.)
Key Players & Entities
- City of London Investment Management Company Limited (company) — reporting person, beneficial owner of shares
- Templeton Dragon Fund, Inc. (company) — subject company, issuer of securities
- 7,933,984 (dollar_amount) — shares beneficially owned
- January 3, 2024 (date) — date of event requiring filing
Forward-Looking Statements
- Other institutional investors may take notice of City of London IM's significant stake and potentially increase their own positions in Templeton Dragon Fund, Inc. (Templeton Dragon Fund, Inc.) — medium confidence, target: next 3-6 months
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is City of London Investment Management Company Limited, a company incorporated under the laws of England and Wales, as stated on page 2 of the filing.
What is the name of the issuer whose securities are being reported?
The name of the issuer is Templeton Dragon Fund, Inc., as specified on the cover page of the Schedule 13G.
How many shares of Common Stock does City of London Investment Management Company Limited beneficially own?
City of London Investment Management Company Limited beneficially owns 7,933,984 shares with sole voting power and sole dispositive power, as detailed in items 5 and 7 on page 2 of the filing.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was January 3, 2024, as indicated on the cover page of the Schedule 13G.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as marked by the checked box on the cover page.
Filing Stats: 1,255 words · 5 min read · ~4 pages · Grade level 10.6 · Accepted 2024-01-04 16:06:18
Filing Documents
- col13g_18751.htm (SC 13G) — 79KB
- 0001072613-24-000008.txt ( ) — 80KB
(b)
Item 1(b). Address of Issuer's Principal Executive Offices: The principal executive offices of the Fund are located at: c/o Franklin Templeton Investments 300 S.E. 2nd Street Fort Lauderdale, FL 33301 Item 2(a). Name of Person Filing: This statement is being filed by City of London Investment Management Company Limited (“CLIM” or the “Reporting Person”). CLIM is a fund manager, which specializes in investing in closed-end investment companies and is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. CLIM is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between CLIM and CLIG such that voting and investment power over the subject securities is exercised by CLIM independently of CLIG, and, accordingly, attribution of beneficial CLIM is principally engaged in the business of providing investment advisory services to various public and private investment funds, including Emerging (BMI) Markets Country Fund (“BMI”), a private investment fund organized as a Delaware business trust, Emerging Markets Free Fund (“CF”), a private investment fund organized as a Delaware business trust, Emerging Markets Global Fund (“CG”), a private investment fund organized as a Delaware business trust, China “A” Share (CEF) Fund (“CHINA”), a private investment fund organized as a Delaware business trust, Emerging Markets Investable Fund (“CI”), a private investment fund organized as a Delaware business trust, Global Emerging Markets Fund (“EUREKA”), a private investment fund organized as a Delaware business trust, The Emerging World Fund (“EWF”), a Dublin, Ireland-listed open-en