UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-08226
Templeton Global Investment Trust
(Exact name of registrant as specified in charter)
300 S.E. 2nd Street, Fort Lauderdale, FL 33301-1923
(Address of principal executive offices) (Zip code)
Alison Baur, One Franklin Parkway, San Mateo, CA 94403-1906
(Name and address of agent for service)
Registrant's telephone number, including area code: 954 527-7500
Date of fiscal year end: 8/31
Date of reporting period: 2/29/24
Item 1. Reports to Stockholders.
a.)
The following is a copy of the report transmitted to shareholders pursuant to Rule30e-1 under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30e-1.)
b.)
A copy of the notice transmitted to shareholders in reliance on Rule 30e-3 under the 1940 Act that contains disclosures specified by paragraph (c)(3) of that rule is included in the Annual Report.
Not Applicable
.
Templeton
Global
Investment
Trust
Financial
Statements
Statement
of
Assets
and
Liabilities
February
29,
2024
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
Franklin
Templeton
SMACS:
Series
EM
Assets:
Investments
in
securities:
Cost
-
Unaffiliated
issuers
...................................................................
$977,490
Cost
-
Non-controlled
affiliates
(Note
3
d
)
........................................................
38,410
Value
-
Unaffiliated
issuers
..................................................................
$916,141
Value
-
Non-controlled
affiliates
(Note
3
d
)
.......................................................
38,410
Foreign
currency,
at
value
(cost
$74)
............................................................
74
Receivables:
Investment
securities
sold
...................................................................
1,824
Dividends
...............................................................................
4,506
Total
assets
..........................................................................
960,955
Liabilities:
Payables:
Investment
securities
purchased
..............................................................
1,966
Management
fees
.........................................................................
3,670
Registration
and
filing
fees
..................................................................
5,682
Professional
fees
.........................................................................
23,424
Trustees'
fees
and
expenses
.................................................................
579
Deferred
tax
...............................................................................
2,092
Accrued
expenses
and
other
liabilities
...........................................................
3,532
Total
liabilities
.........................................................................
40,945
Net
assets,
at
value
.................................................................
$920,010
Net
assets
consist
of:
Paid-in
capital
.............................................................................
$1,132,550
Total
distributable
earnings
(losses)
.............................................................
(212,540)
Net
assets,
at
value
.................................................................
$920,010
Shares
outstanding
.........................................................................
113,651
Net
asset
value
per
share
a
....................................................................
$8.10
a
Net
asset
value
per
share
may
not
recalculate
due
to
rounding.
TEMPLETON
GLOBAL
INVESTMENT
TRUST
Financial
Statements
Statement
of
Operations
for
the
six
months
ended
February
29,
2024
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
7
Franklin
Templeton
SMACS:
Series
EM
Investment
income:
Dividends:
(net
of
foreign
taxes
of
$1,624)
Unaffiliated
issuers
........................................................................
$8,585
Non-controlled
affiliates
(Note
3
d
)
.............................................................
928
Other
income
a
.............................................................................
65
Total
investment
income
...................................................................
9,578
Expenses:
Transfer
agent
fees
(Note
3
c
)
..................................................................
74
Reports
to
shareholders
fees
..................................................................
1,090
Registration
and
filing
fees
....................................................................
597
Professional
fees
...........................................................................
57,982
Trustees'
fees
and
expenses
..................................................................
632
Other
....................................................................................
4,749
Total
expenses
.........................................................................
65,124
Expenses
waived/paid
by
affiliates
(Not
e
3d
and
3e)
..............................................
(65,124)
Net
expenses
.........................................................................
-
Net
investment
income
................................................................
9,578
Realized
and
unrealized
gains
(losses):
Net
realized
gain
(loss)
from:
Investments:
(net
of
foreign
taxes
of
$786)
Unaffiliated
issuers
......................................................................
(34,211)
Foreign
currency
transactions
................................................................
33
Net
realized
gain
(loss)
..................................................................
(34,178)
Net
change
in
unrealized
appreciation
(depreciation)
on:
Investments:
Unaffiliated
issuers
......................................................................
87,205
Translation
of
other
assets
and
liabilities
denominated
in
foreign
currencies
..............................
(132)
Change
in
deferred
taxes
on
unrealized
appreciation
...............................................
1,720
Net
change
in
unrealized
appreciation
(depreciation)
............................................
88,793
Net
realized
and
unrealized
gain
(loss)
............................................................
54,615
Net
increase
(decrease)
in
net
assets
resulting
from
operations
..........................................
$64,193
a
Other
income
includes
payments
by
Asset
Management
for
acquired
fund
fees
and
expenses
(See
Note
3e).
Templeton
Global
Investment
Trust
Financial
Statements
Statement
of
Assets
and
Liabilities
February
29,
2024
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
16
Templeton
Emerging
Markets
Small
Cap
Fund
Assets:
Investments
in
securities:
Cost
-
Unaffiliated
issuers
...................................................................
$274,484,580
Cost
-
Non-controlled
affiliates
(Note
3
f
)
........................................................
6,560,258
Value
-
Unaffiliated
issuers
..................................................................
$347,885,864
Value
-
Non-controlled
affiliates
(Note
3
f
)
........................................................
6,560,258
Foreign
currency,
at
value
(cost
$935,872)
........................................................
932,293
Receivables:
Investment
securities
sold
...................................................................
12,910
Capital
shares
sold
........................................................................
147,920
Dividends
...............................................................................
500,132
European
Union
tax
reclaims
(Note
1
d
)
.........................................................
98,715
Total
assets
..........................................................................
356,138,092
Liabilities:
Payables:
Investment
securities
purchased
..............................................................
664,338
Capital
shares
redeemed
...................................................................
408,007
Management
fees
.........................................................................
324,949
Distribution
fees
..........................................................................
43,035
Transfer
agent
fees
........................................................................
148,579
Trustees'
fees
and
expenses
.................................................................
6,119
Deferred
tax
...............................................................................
4,080,853
Accrued
expenses
and
other
liabilities
...........................................................
241,939
Total
liabilities
.........................................................................
5,917,819
Net
assets,
at
value
.................................................................
$350,220,273
Net
assets
consist
of:
Paid-in
capital
.............................................................................
$335,249,506
Total
distributable
earnings
(losses)
.............................................................
14,970,767
Net
assets,
at
value
.................................................................
$350,220,273
Templeton
Global
Investment
Trust
Financial
Statements
Statement
of
Assets
and
Liabilities
(continued)
February
29,
2024
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
17
Templeton
Emerging
Markets
Small
Cap
Fund
Class
A:
Net
assets,
at
value
.......................................................................
$180,753,468
Shares
outstanding
........................................................................
13,782,686
Net
asset
value
per
share
a,b
..................................................................
$13.11
Maximum
offering
price
per
share
(net
asset
value
per
share
÷
94.50%)
b
................................
$13.87
Class
C:
Net
assets,
at
value
.......................................................................
$9,190,602
Shares
outstanding
........................................................................
762,240
Net
asset
value
and
maximum
offering
price
per
share
a,b
............................................
$12.06
Class
R:
Net
assets,
at
value
.......................................................................
$2,147,238
Shares
outstanding
........................................................................
167,367
Net
asset
value
and
maximum
offering
price
per
share
b
.............................................
$12.83
Class
R6:
Net
assets,
at
value
.......................................................................
$27,704,228
Shares
outstanding
........................................................................
2,073,984
Net
asset
value
and
maximum
offering
price
per
share
b
.............................................
$13.36
Advisor
Class:
Net
assets,
at
value
.......................................................................
$130,424,737
Shares
outstanding
........................................................................
9,746,837
Net
asset
value
and
maximum
offering
price
per
share
b
.............................................
$13.38
a
Redemption
price
is
equal
to
net
asset
value
less
contingent
deferred
sales
charges,
if
applicable.
b
Net
asset
value
per
share
may
not
recalculate
due
to
rounding.
Templeton
Global
Investment
Trust
Financial
Statements
Statements
of
Operations
for
the
six
months
ended
February
29,
2024
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
18
Templeton
Emerging
Markets
Small
Cap
Fund
Investment
income:
Dividends:
(net
of
foreign
taxes
of
$333,583)
Unaffiliated
issuers
........................................................................
$2,478,391
Non-controlled
affiliates
(Note
3
f
)
.............................................................
217,185
Income
from
securities
loaned:
Unaffiliated
entities
(net
of
fees
and
rebates)
.....................................................
1,397
Non-controlled
affiliates
(Note
3
f
)
.............................................................
1,027
Total
investment
income
...................................................................
2,698,000
Expenses:
Management
fees
(Note
3
a
)
...................................................................
2,541,085
Distribution
fees:
(Note
3c
)
Class
A
................................................................................
215,663
Class
C
................................................................................
45,645
Class
R
................................................................................
5,122
Transfer
agent
fees:
(Note
3e
)
Class
A
................................................................................
146,466
Class
C
................................................................................
7,754
Class
R
................................................................................
1,739
Class
R6
...............................................................................
5,997
Advisor
Class
............................................................................
130,057
Custodian
fees
.............................................................................
62,050
Reports
to
shareholders
fees
..................................................................
32,224
Registration
and
filing
fees
....................................................................
50,370
Professional
fees
...........................................................................
34,077
Trustees'
fees
and
expenses
..................................................................
27,147
Other
....................................................................................
27,386
Total
expenses
.........................................................................
3,332,782
Expenses
waived/paid
by
affiliates
(Note
3f
and
3g)
..............................................
(348,095)
Net
expenses
.........................................................................
2,984,687
Net
investment
income
(loss)
............................................................
(286,687)
Realized
and
unrealized
gains
(losses):
Net
realized
gain
(loss)
from:
Investments:
(net
of
foreign
taxes
of
$1,537,879)
Unaffiliated
issuers
......................................................................
(8,500,869)
Foreign
currency
transactions
................................................................
2,274
Net
realized
gain
(loss)
..................................................................
(8,498,595)
Net
change
in
unrealized
appreciation
(depreciation)
on:
Investments:
Unaffiliated
issuers
......................................................................
40,110,085
Translation
of
other
assets
and
liabilities
denominated
in
foreign
currencies
..............................
(5,263)
Change
in
deferred
taxes
on
unrealized
appreciation
...............................................
109,623
Net
change
in
unrealized
appreciation
(depreciation)
............................................
40,214,445
Net
realized
and
unrealized
gain
(loss)
............................................................
31,715,850
Net
increase
(decrease)
in
net
assets
resulting
from
operations
..........................................
$31,429,163
Templeton
Global
Investment
Trust
Financial
Statements
Statements
of
Changes
in
Net
Assets
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
19
Templeton
Emerging
Markets
Small
Cap
Fund
Six
Months
Ended
February
29,
2024
(unaudited)
Year
Ended
August
31,
2023
Increase
(decrease)
in
net
assets:
Operations:
Net
investment
income
(loss)
............................................
$(286,687)
$6,115,027
Net
realized
gain
(loss)
.................................................
(8,498,595)
(18,622,465)
Net
change
in
unrealized
appreciation
(depreciation)
...........................
40,214,445
32,093,822
Net
increase
(decrease)
in
net
assets
resulting
from
operations
................
31,429,163
19,586,384
Distributions
to
shareholders:
Class
A
.............................................................
(5,154,505)
(13,458,092)
Class
C
.............................................................
(208,350)
(867,935)
Class
R
.............................................................
(58,515)
(154,143)
Class
R6
............................................................
(845,772)
(2,136,443)
Advisor
Class
........................................................
(4,785,158)
(10,460,496)
Total
distributions
to
shareholders
..........................................
(11,052,300)
(27,077,109)
Capital
share
transactions:
(Note
2
)
Class
A
.............................................................
(7,367,046)
(6,802,414)
Class
C
.............................................................
(1,246,714)
(3,373,063)
Class
R
.............................................................
(70,173)
17,445
Class
R6
............................................................
(1,143,862)
(3,846,473)
Advisor
Class
........................................................
(58,222,377)
37,836,258
Total
capital
share
transactions
............................................
(68,050,172)
23,831,753
Net
increase
(decrease)
in
net
assets
...................................
(47,673,309)
16,341,028
Net
assets:
Beginning
of
period
.....................................................
397,893,582
381,552,554
End
of
period
..........................................................
$350,220,273
$397,893,582
Templeton
Global
Investment
Trust
Notes
to
Financial
Statements
(unaudited)
27
franklintempleton.com
Templeton
Emerging
Markets
Small
Cap
Fund
(continued)
Under
the
terms
of
the
Global
Credit
Facility,
the
Fund
shall,
in
addition
to
interest
charged
on
any
borrowings
made
by
the
Fund
and
other
costs
incurred
by
the
Fund,
pay
its
share
of
fees
and
expenses
incurred
in
connection
with
the
implementation
and
maintenance
of
the
Global
Credit
Facility,
based
upon
its
relative
share
of
the
aggregate
net
assets
of
all
of
the
Borrowers,
including
an
annual
commitment
fee
of
0.15%
based
upon
the
unused
portion
of
the
Global
Credit
Facility.
These
fees
are
reflected
in
other
expenses
in
the
Statement
of
Operations.
During
the
period
ended
February
29,
2024,
the Fund
did
not
use
the
Global
Credit
Facility.
8.
Fair
Value
Measurements
The
Fund
follows
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
-
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
-
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
Level
3
-
significant
unobservable
inputs
(including
the
Fund's
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
A
summary
of
inputs
used
as
of February
29,
2024,
in
valuing
the
Fund's
assets
carried
at
fair
value,
is
as
follows:
L
evel
1
Level
2
Level
3
Total
Templeton
Emerging
Markets
Small
Cap
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Brazil
................................
$
9,071,217
$
-
$
-
$
9,071,217
Cambodia
............................
-
1,799,618
-
1,799,618
Chile
................................
1,686,447
-
-
1,686,447
China
...............................
10,337,436
9,721,751
-
20,059,187
Georgia
..............................
3,469,796
-
-
3,469,796
Hong
Kong
...........................
-
6,233,376
-
6,233,376
Hungary
.............................
8,120,020
-
-
8,120,020
India
................................
11,176,886
97,860,604
-
109,037,490
Indonesia
............................
4,095,467
-
-
4,095,467
Italy
.................................
-
7,520,432
-
7,520,432
Kazakhstan
...........................
3,679,218
-
-
3,679,218
Mexico
..............................
7,610,649
-
-
7,610,649
Peru
................................
4,261,858
-
-
4,261,858
Philippines
............................
8,168,438
10,098,004
-
18,266,442
Saudi
Arabia
..........................
-
9,761,795
-
9,761,795
South
Africa
...........................
3,446,224
-
-
3,446,224
South
Korea
..........................
1,460,376
29,162,561
-
30,622,937
Taiwan
...............................
-
51,827,967
-
51,827,967
Thailand
.............................
3,502,611
5,184,823
-
8,687,434
United
Arab
Emirates
....................
7,017,433
-
-
7,017,433
Vietnam
..............................
-
21,187,920
-
21,187,920
Preferred
Stocks
:
Brazil
................................
5,582,721
-
-
5,582,721
7.
Credit
Facility
(continued)
Item 2. Code of Ethics.
(a) The Registrant has adopted a code of ethics that applies to its principal executive officers and principal financial and accounting officer.
(c) N/A
(d) N/A
(f)Pursuant to Item 13(a)(1), the Registrant is attaching as an exhibit a copy of its code of ethics that applies to its principal executive officers and principal financial and accounting officer.
Item 3. Audit Committee Financial Expert.
(a)(1) The Registrant has an audit committee financial expert serving on its audit committee.
(2) The audit committee financial experts are Ann Torre Bates and David W. Niemiec and they are "independent" as defined under the relevant Securities and Exchange Commission Rules and Releases.
Item 4.
Principal Accountant Fees and Services. N/A
Item 5. Audit Committee
of Listed Registrants.
N/A
Item 6. Schedule of Investments.
N/A
Item 7
. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. N/A
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
N/A
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. N/A
Item 10
. Submission of Matters to a Vote of Security Holders.
There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees that would require disclosure herein.
Item 11. Controls and Procedures.
(a)
Evaluation of Disclosure Controls and Procedures. The Registrant maintains disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.
Within 90 days prior to the filing date of this Shareholder Report on Form N-CSR, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective.
(b)
Changes in Internal Controls. There have been no changes in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect the internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Company. N/A
Item 13. Recovery of Erroneously Awarded Compensation.
(a) N/A
(b) N/A
Item 14. Exhibits.
(a)(1) Code of Ethics
codeofethics
(a)(2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of Christopher Kings, Chief Executive Officer - Finance and Administration, and Jeffrey White, Chief Financial Officer, Chief Accounting Officer and Treasurer
section302
(a)(2)(1) There were no written solicitations to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the Registrant to 10 or more persons.
(a)(2)(2) There was no change in the Registrant's independent public accountant during the period covered by the report.
(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of Christopher Kings, Chief Executive Officer - Finance and Administration, and Jeffrey White, Chief Financial Officer, Chief Accounting Officer and Treasurer
section906
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TEMPLETON GLOBAL INVESTMENT TRUST
By S\CHRISTOPHER KINGS _________________
Christopher Kings
Chief Executive Officer - Finance and Administration
Date April 29, 2024
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By S\CHRISTOPHER KINGS _________________
Christopher Kings
Chief Executive Officer - Finance and Administration
Date April 29, 2024
By S\JEFFREY WHITE______________________
Jeffrey White
Chief Financial Officer, Chief Accounting Officer and Treasurer
Date April 29, 2024