FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-05459
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TEMPLETON GLOBAL INCOME FUND
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(Exact name of registrant as specified in charter)
500 EAST BROWARD BLVD., SUITE 2100, FORT LAUDERDALE, FL 33394-3091
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(Address of principal executive offices) (Zip code)
MURRAY L. SIMPSON, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906
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(Name and address of agent for service)
Registrant's telephone number, including area code: (954) 527-7500
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Date of fiscal year end: 08/31
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Date of reporting period: 11/30/04
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ITEM 1. SCHEDULE OF INVESTMENTS.
TEMPLETON GLOBAL INCOME FUND
QUARTERLY STATEMENT OF INVESTMENTS
NOVEMBER 30, 2004
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CONTENTS
Statement of Investments .................................................. 2
Notes to Statement of Investments ......................................... 6
[LOGO](R)
FRANKLIN(R) TEMPLETON(R)
INVESTMENTS
Franklin o TEMPLETON o Mutual Series
Quarterly Statement of Investments | 1
TEMPLETON GLOBAL INCOME FUND
STATEMENT OF INVESTMENTS, NOVEMBER 30, 2004 (UNAUDITED)
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PRINCIPAL AMOUNT(a) VALUE
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LONG TERM INVESTMENTS 94.6%
AUSTRALIA 5.9%
New South Wales Treasury Corp.,
6.50%, 5/01/06 ........................................................................ 15,781,000 AUD $ 12,397,853
8.00%, 3/01/08 ........................................................................ 6,200,000 AUD 5,173,958
6.00%, 5/01/12 ........................................................................ 10,200,000 AUD 8,133,179
Queensland Treasury Corp.,
6.00%, 7/14/09 ........................................................................ 4,100,000 AUD 3,260,569
6.00%, 8/14/13 ........................................................................ 56,500,000 AUD 45,418,168
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74,383,727
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AUSTRIA 2.4%
Republic of Austria,
5.50%, 10/20/07 ....................................................................... 15,900,000 EUR 22,805,454
5.00%, 7/15/12 ........................................................................ 4,580,000 EUR 6,686,020
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29,491,474
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BELGIUM 2.9%
Kingdom of Belgium,
8.50%, 10/01/07 ....................................................................... 19,718,000 EUR 30,362,135
5.00%, 9/28/12 ........................................................................ 3,840,000 EUR 5,602,097
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35,964,232
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BRAZIL .6%
Republic of Brazil, DCB, L, FRN, 3.125%, 4/15/12 ......................................... 8,147,712 7,623,203
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CANADA 2.3%
Government of Canada,
8.75%, 12/01/05 ....................................................................... 5,050,000 CAD 4,507,822
6.00%, 6/01/11 ........................................................................ 26,263,000 CAD 24,509,367
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29,017,189
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COLOMBIA .5%
Republic of Colombia, 11.75%, 2/25/20 .................................................... 4,735,000 5,951,185
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DENMARK 1.7%
Kingdom of Denmark,
6.00%, 11/15/11 ....................................................................... 15,500,000 DKK 3,192,653
5.00%, 11/15/13 ....................................................................... 92,320,000 DKK 18,000,021
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21,192,674
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FINLAND 2.7%
Government of Finland, 5.00%, 7/04/07 .................................................... 19,300,000 EUR 27,222,178
Government of Finland, 5.00%, 4/25/09 .................................................... 4,390,000 EUR 6,318,188
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33,540,366
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FRANCE 1.8%
Government of France,
4.00%, 4/25/09 ........................................................................ 12,000,000 EUR 16,623,481
4.25%, 4/25/19 ........................................................................ 4,000,000 EUR 5,420,744
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22,044,225
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GERMANY 3.0%
Federal Republic of Germany, 4.00%, 2/16/07 .............................................. 26,920,000 EUR 36,965,680
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2 | Quarterly Statement of Investments
TEMPLETON GLOBAL INCOME FUND
STATEMENT OF INVESTMENTS, NOVEMBER 30, 2004 (UNAUDITED) (CONTINUED)
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PRINCIPAL AMOUNT(a) VALUE
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LONG TERM INVESTMENTS (CONT.)
GREECE .5%
Republic of Greece, 4.60%, 5/20/13 .................................................. 4,560,000 EUR $ 6,411,102
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HUNGARY 1.5%
Government of Hungary,
9.25%, 5/12/05 ................................................................... 127,000,000 HUF 686,256
8.50%, 10/12/05 .................................................................. 3,342,000,000 HUF 17,924,882
7.00%, 4/12/06 ................................................................... 110,000,000 HUF 579,132
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19,190,270
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INDONESIA 5.7%
Indonesia Government, 11.00%, 10/15/14 .............................................. 13,000,000,000 IDR 1,502,583
Indonesia Recapital Bonds,
14.00%, 6/15/09 .................................................................. 49,141,000,000 IDR 6,292,780
13.15%, 3/15/10 .................................................................. 188,975,000,000 IDR 23,805,597
14.25%, 6/15/13 .................................................................. 50,150,000,000 IDR 6,781,393
14.275%, 12/15/13 ................................................................ 237,966,000,000 IDR 32,455,921
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70,838,274
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IRISH REPUBLIC 1.3%
Republic of Ireland, 4.25%, 10/18/07 ................................................ 11,500,000 EUR 15,985,874
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MEXICO 1.1%
United Mexican States, 144A, 7.50%, 3/08/10 ......................................... 8,800,000 EUR 13,534,143
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NETHERLANDS 2.1%
Government of Netherlands, 5.75%, 2/15/07 ........................................... 18,169,000 EUR 25,835,322
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NEW ZEALAND 7.7%
Government of New Zealand,
7.00%, 7/15/09 ................................................................... 56,280,000 NZD 41,932,382
6.00%, 11/15/11 .................................................................. 36,973,000 NZD 26,497,889
6.50%, 4/15/13 ................................................................... 37,581,000 NZD 27,827,135
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96,257,406
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NORWAY 1.8%
Kingdom of Norway, 6.75%, 1/15/07 ................................................... 126,500,000 NOK 22,477,531
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PERU .2%
Republic of Peru, 9.875%, 2/06/15 ................................................... 1,800,000 2,106,000
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PHILIPPINES 1.7%
Republic of Philippines,
9.00%, 2/15/13 ................................................................... 5,500,000 5,584,425
Reg S, 9.125%, 2/22/10 ........................................................... 11,200,000 EUR 15,493,338
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21,077,763
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POLAND 5.8%
Republic of Poland,
8.50%, 11/12/06 .................................................................. 100,860,000 PLN 32,970,199
8.50%, 5/12/07 ................................................................... 68,700,000 PLN 22,709,919
6.00%, 5/24/09 ................................................................... 55,000,000 PLN 16,966,581
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72,646,699
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RUSSIA 1.9%
Russian Federation, 11.00%, 7/24/18, Reg S .......................................... 17,771,000 24,072,330
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Quarterly Statement of Investments | 3
TEMPLETON GLOBAL INCOME FUND
STATEMENT OF INVESTMENTS, NOVEMBER 30, 2004 (UNAUDITED) (CONTINUED)
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PRINCIPAL AMOUNT(a) VALUE
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LONG TERM INVESTMENTS (CONT.)
SINGAPORE .4%
Republic of Singapore, 4.00%, 3/01/07 ...................................... 8,500,000 SGD $ 5,455,748
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SLOVAK REPUBLIC 3.2%
Republic of Slovak, Strip, 3.922% - 4.142%, 1/14/07 ........................ 1,264,000,000 SKK 39,409,171
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SOUTH AFRICA .2%
Republic of South Africa, 5.25%, 5/16/13 ................................... 2,000,000 EUR 2,792,855
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SOUTH KOREA 12.4%
Republic of Korea, 6.15%, 7/10/07 .......................................... 10,000,000,000 KRW 10,296,290
Korea Treasury Bonds,
4.50%, 3/05/06 .......................................................... 19,500,000,000 KRW 19,073,120
4.50%, 9/03/06 .......................................................... 29,790,000,000 KRW 29,272,902
6.90%, 1/16/07 .......................................................... 41,010,000,000 KRW 42,333,700
5.77%, 10/09/07 ......................................................... 39,640,000,000 KRW 40,647,201
4.75%, 3/12/08 .......................................................... 8,075,000,000 KRW 8,118,822
5.00%, 3/26/13 .......................................................... 5,000,000,000 KRW 5,227,611
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154,969,646
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SPAIN 2.1%
Government of Spain,
8.80%, 4/30/06 .......................................................... 13,342,000 EUR 19,302,510
5.00%, 7/30/12 .......................................................... 4,850,000 EUR 7,074,340
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26,376,850
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SWEDEN 9.4%
Kingdom of Sweden,
3.50%, 4/20/06 .......................................................... 246,055,000 SEK 37,156,759
8.00%, 8/15/07 .......................................................... 59,250,000 SEK 9,980,358
6.50%, 5/05/08 .......................................................... 100,400,000 SEK 16,575,100
5.25%, 3/15/11 .......................................................... 273,300,000 SEK 44,173,033
5.50%, 10/08/12 ......................................................... 62,060,000 SEK 10,210,094
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118,095,344
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THAILAND 5.6%
Government of Thailand,
8.50%, 10/14/05 ......................................................... 396,215,000 THB 10,579,639
8.00%, 12/08/06 ......................................................... 1,453,680,000 THB 40,685,521
5.60%, 7/07/07 .......................................................... 499,730,000 THB 13,702,479
4.125%, 2/12/08 ......................................................... 178,700,000 THB 4,655,880
8.50%, 12/08/08 ......................................................... 31,000,000 THB 937,668
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70,561,187
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UKRAINE 2.7%
Republic of Ukraine,
144A, 6.875%, 3/04/11 ................................................... 6,020,000 5,912,844
144A, 7.65%, 6/11/13 .................................................... 21,700,000 21,965,174
FRN, 5.36%, 8/05/09 ..................................................... 5,300,000 5,353,000
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33,231,018
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UNITED KINGDOM .1%
United Kingdom, 8.50%, 7/16/07 ............................................. 811,000 GBP 1,701,913
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4 | Quarterly Statement of Investments
TEMPLETON GLOBAL INCOME FUND
STATEMENT OF INVESTMENTS, NOVEMBER 30, 2004 (UNAUDITED) (CONTINUED)
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PRINCIPAL AMOUNT(a) VALUE
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LONG TERM INVESTMENTS (CONT.)
VENEZUELA 3.4%
Republic of Venezuela,
9.25%, 9/15/27 .......................................................................... 36,005,000 $ 37,456,542
FRN, 3.09%, 4/20/11 ..................................................................... 5,550,000 5,033,156
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42,489,698
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TOTAL LONG TERM INVESTMENTS (COST $965,414,332) ............................................ 1,181,690,099
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SHARES/PRINCIPAL
AMOUNT(a)
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SHORT TERM INVESTMENTS 2.2%
NORWAY .9%
Norwegian Treasury Bill, 1.987%, 6/15/05 ................................................... 75,000,000 NOK 12,116,024
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UNITED STATES 1.3%
MONEY FUND
Franklin Institutional Fiduciary Trust Money Market Portfolio .............................. 16,092,866 16,092,866
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TOTAL SHORT TERM INVESTMENTS (COST $26,882,068) ............................................ 28,208,890
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TOTAL INVESTMENTS (COST $992,296,400) 96.8% ................................................ 1,209,898,989
OTHER ASSETS, LESS LIABILITIES 3.2% ........................................................ 39,362,154
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NET ASSETS 100.0% .......................................................................... $1,249,261,143
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CURRENCY ABBREVIATIONS: | AUD - Australian Dollar | CAD - Canadian Dollar | DKK
- Danish Krone | EUR - Euro | GBP - British Pound |
HUF - Hungarian Forint | IDR - Indonesian Rupiah |
KRW - Korean Won | NOK - Norwegian Krone | NZD - New
Zealand Dollar | PLN - Polish Zloty | SEK - Swedish
Krona | SGD - Singapore Dollar | SKK - Slovak Koruna |
THB - Thai Baht
(a) The principal amount is stated in U.S. dollars unless otherwise indicated.
Quarterly Statement of Investments | See Notes to Statement of Investments. | 5
TEMPLETON GLOBAL INCOME FUND
NOTES TO STATEMENT OF INVESTMENTS (UNAUDITED)
Templeton Global Income Fund (the Fund) is registered under the Investment
Company Act of 1940 as a closed-end, non-diversified investment company.
1. INCOME TAXES
At November 30, 2004 the net unrealized appreciation (depreciation) based on the
cost of investments for income tax purposes was as follows:
Cost of investments .................................. $ 1,006,834,587
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Unrealized appreciation .............................. $ 204,018,231
Unrealized depreciation .............................. (953,829)
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Net unrealized appreciation (depreciation) ........... $ 203,064,402
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For information on the Fund's policy regarding valuation of investments and
other significant accounting policies, please refer to the Fund's most recent
semiannual or annual shareholder report.
6 | Quarterly Statement of Investments
ITEM 2. CONTROLS AND PROCEDURES.
(a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains
disclosure controls and procedures that are designed to ensure that information
required to be disclosed in the Registrant's filings under the Securities
Exchange Act of 1934 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 Quarterly Schedule of Portfolio
Holdings on Form N-Q, 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 significant changes
in the Registrant's internal controls or in other factors that could
significantly affect the internal controls subsequent to the date of their
evaluation in connection with the preparation of this Quarterly Schedule of
Portfolio Holdings on Form N-Q.
ITEM 3. EXHIBITS.
(a) Certifications pursuant to Section 30a-2 of the Investment Company Act of
1940 of Jimmy D. Gambill, Chief Executive Officer - Finance and Administration,
and Galen G. Vetter, Chief Financial Officer.
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 INCOME FUND
By /s/JIMMY D. GAMBILL
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Jimmy D. Gambill
Chief Executive Officer -
Finance and Administration
Date January 20, 2005
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/JIMMY D. GAMBILL
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Jimmy D. Gambill
Chief Executive Officer -
Finance and Administration
Date January 20, 2005
By /s/GALEN G. VETTER
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Galen G. Vetter
Chief Financial Officer
Date January 20, 2005