Fund Description: Templeton Dragon Fund, Inc. is an exchange-traded closed-end fund or a closed-end ETF which is officially described in its prospectus as a non-diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The Fund seeks long-term capital appreciation by investing at least 45% of its total assets in the equity securities of "China companies", as defined in the Fund's prospectus. <p> FUND STRATEGY: The Fund's investment strategy employs a fundamental, value-oriented, long-term approach. In selecting companies for investment, they will consider overall growth prospects, competitive positions in export markets, technologies, research and development, productivity, labor costs, raw material costs and sources, profit margins, returns on investment, capital resources, government regulation, management and other factors in comparison to other companies around the world that they believe are comparable. Their approach to selecting investments emphasizes fundamental company-by-company analysis (rather than broader analyses of specific industries or sectors of the economy), to construct an “action list” from which they make their buy decisions. Although they will consider historical value measures, the primary factor in selecting securities for investment by the Fund will be the company’s current price relative to its long-term earnings potential. <p> FUND MANAGEMENT: The Fund's investment adviser, Templeton Asset Management Ltd., is an indirect, wholly-owned subsidiary of Franklin Resources, Inc. (NYSE:BEN), a global investment organization operating as Franklin Templeton Investments.