U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM N-17F-2

 

CERTIFICATE OF ACCOUNTING OF SECURITIES AND SIMILAR INVESTMENTS IN THE

CUSTODY OF MANAGEMENT INVESTMENT COMPANIES

 

PURSUANT TO RULE N-17F-2

 

1. Investment Company Act File Number:

Date Examination completed:

811 -08788

September 28, 2012

 

 

2. State Identification Number:

 

 

 

 

 

 

 

 

AL

AK

AZ

AR

CA

CO

 

CT

DE

DC

FL

GA

HI

 

ID

IL

IN

IA

KS

KY

 

LA

ME

MD

MA

MI

MN

 

MS

MO

MT

NE

NV

NH

 

NJ

NM

NY

NC

ND

OH

 

OK

OR

PA

RI

SC

SD

 

TN

TX

UT

VT

VA

WA

 

WV

WI

WY

PUERTO RICO

 

 

 

 

3. Exact name of investment company as specified in registration statement:

 

Templeton Russia and East European Fund, Inc.

 

 

 

 

 

 

 

4. Address of principal executive office: (number, street, city, state, zip code)

300 S.E. 2 nd Street, Fort Lauderdale, FL 33301-1923  

                 

 

 

 

 

[PWC LOGO]

 

Report of Independent Registered Public Accounting Firm

 

To the Board of Trustees of

 

Franklin Templeton Limited Duration Income Trust

Templeton Global Investment Trust

Franklin Real Estate Securities Trust

Franklin Strategic Series

Franklin High Income Trust

Franklin Money Fund

Franklin Templeton Money Fund Trust

Institutional Fiduciary Trust

Franklin Global Trust

Franklin Gold and Precious Metals Fund

Franklin Universal Trust

Templeton China World Fund

Templeton Emerging Markets Fund

Templeton Emerging Markets Income Fund

Templeton Global Income Fund

Templeton Income Trust

Franklin Custodian Funds

Franklin Strategic Mortgage Portfolio

Franklin Investors Securities Trust

Franklin Templeton Global Trust

Franklin Templeton International Trust

Franklin Value Investors Trust

Templeton Developing Markets Trust

Franklin Templeton Fund Allocator Series

Franklin Templeton Variable Insurance Products Trust

Templeton Institutional Funds

 

and the Board of Directors of

 

Templeton Russia and East European Fund, Inc.

Templeton Dragon Fund, Inc.

 

 

 

 

 

 

 

 

 

 

 

PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017

T: (646) 471 3000, F: (646) 471 8320, www.pwc.com/us

 

 

 

 

We have examined management's assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that the funds (see Attachment I), (hereafter referred to as the “Funds”) complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 (“the Act”) as of July 31, 2012.  Management is responsible for the Funds' compliance with those requirements.  Our responsibility is to express an opinion on management's assertion about the Funds' compliance based on our examination.

 

Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence about the Funds' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances.  Included among our procedures were the following tests performed as of July 31, 2012 and with respect to agreement of security purchases and sales, for the periods indicated in Attachment I:

 

  • Without prior notice to management, confirmation of all securities held by Franklin Templeton Investors Services, Inc., transfer agent, as they pertain to the security positions owned by the Funds and held in book entry form.
  • Reconciliation of such security positions to the books and records of the Funds.
  • Agreement of 100 security purchases and 100 security sales, since our last report, from the books and records of the Funds to the records of the transfer agent.

 

We believe that our examination provides a reasonable basis for our opinion.  Our examination does not provide a legal determination on the Funds' compliance with specified requirements.

 

In our opinion, management's assertion that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of July 31, 2012 with respect to securities reflected in the investment accounts of the Funds is fairly stated, in all material respects.

 

This report is intended solely for the information and use of, management, the Board of Trustees and Board of Directors and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

 

/s/PRICEWATERHOUSECOOPERS, LLP

 

PricewaterhouseCoopers, LLP

 

September 28, 2012

 

 

 

 

 

 

 

Management Statement Regarding Compliance With Certain

Provisions of the Investment Company Act of 1940

 

We, as members of management of the Franklin Templeton Funds indicated in Attachment I (the “Funds”), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, “Custody of Investments by Registered Management Investment Companies,” of the Investment Company Act of 1940.  We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements.  We have performed an evaluation of the Funds’ compliance with the requirements of subsection (b) of Rule 17f-2, as interpreted in Franklin Investors Securities Trust SEC No-Action Letter (publicly available September 24, 1992), and subsection (c) of Rule 17f-2 of the Investment Company Act of 1940, as of July 31, 2012, and for the periods indicated in Attachment I.

 

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsection (b) of Rule 17f-2, as interpreted in Franklin Investors Securities Trust SEC No-Action Letter (publicly available September 24, 1992), and subsection (c) of Rule 17f-2 of the Investment Company Act of 1940, as of July 31, 2012, and for the periods indicated in Attachment I, with respect to securities reflected in the investment accounts of the Funds.

 

By:

 

/s/GASTON GARDEY

Gaston Gardey

Chief Financial Officer and Chief Accounting Officer

Franklin Funds Board

 

Date 09/28/12 

 

 

/s/MARK H. OTANI

Mark H. Otani

Chief Financial Officer and Chief Accounting Officer

Templeton Funds Board

 

Date 09/28/12 

 

/s/ROBERT G. KUBILIS

Robert G. Kubilis

Chief Financial Officer and Chief Accounting Officer

Franklin New Jersey Funds Board

 

Date 09/28/12 

 

/s/LAURA F. FERGERSON

Laura F. Fergerson

Chief Executive Officer - Finance and Administration

 

 

 

 

Date 09/28/12 

 

 

Attachment I

Fund

 

Period

 

 

 

Franklin Templeton Limited Duration Income Trust

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Global Investment Trust:

 

 

 

Templeton BRIC Fund

 

June 1, 2012 - July 31, 2012

 

Templeton Emerging Markets Balanced Fund

 

June 1, 2012 - July 31, 2012

 

Templeton Emerging Markets Small Cap Fund

 

June 1, 2012 - July 31, 2012

 

Templeton Frontier Markets Fund

 

June 1, 2012 - July 31, 2012

 

Templeton Global Balanced Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Russia and East European Fund, Inc.

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Real Estate Securities Trust:

 

 

 

Franklin Real Estate Securities Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Strategic Series:

 

 

 

Franklin Biotechnology Discovery Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Flex Cap Growth Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Focused Core Equity Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Growth Opportunities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Natural Resources Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Small Cap Growth Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Small-Mid Cap Growth Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Strategic Income Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin High Income Trust:

 

 

 

Franklin High Income Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Money Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Templeton Money Fund Trust:

 

 

 

Franklin Templeton Money Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Institutional Fiduciary Trust:

 

 

 

Money Market Portfolio

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Global Trust:

 

 

 

Franklin International Growth Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Large Cap Equity Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Emerging Market Debt Opportunities Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Gold and Precious Metals Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Universal Trust

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton China World Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Emerging Markets Fund  

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Emerging Markets Income Fund  

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Global Income Fund  

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Income Trust:

 

 

 

Templeton Global Bond Fund

 

June 1, 2012 - July 31, 2012

 

Templeton Global Total Return Fund

 

June 1, 2012 - July 31, 2012

 

Templeton International Bond Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Custodian Funds:

 

 

 

Franklin DynaTech Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Growth Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Income Fund

 

June 1, 2012 - July 31, 2012

 

Franklin U.S. Government Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Utilities Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Strategic Mortgage Portfolio

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Investors Securities Trust:

 

 

 

Franklin Adjustable U.S. Government Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Balanced Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Convertible Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Equity Income Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Floating Rate Daily Access Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Limited Maturity U.S. Government Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Low Duration Total Return Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Total Return Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Templeton Global Trust:

 

 

 

Franklin Templeton Hard Currency

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Templeton International Trust:

 

 

 

Franklin India Growth Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Global Allocation Fund

 

June 1, 2012 - July 31, 2012

 

Franklin World Perspectives Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Value Investors Trust:

 

 

 

Franklin All Cap Value Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Balance Sheet Investment Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Large Cap Value Fund

 

June 1, 2012 - July 31, 2012

 

Franklin MicroCap Value Fund

 

June 1, 2012 - July 31, 2012

 

Franklin MidCap Value Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Small Cap Value Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Developing Markets Trust

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Templeton Fund Allocator Series:

 

 

 

Franklin Templeton 2015 Retirement Target Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton 2025 Retirement Target Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton 2035 Retirement Target Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton 2045 Retirement Target Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Conservative Allocation Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Corefolio Allocation Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Founding Funds Allocation Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Growth Allocation Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Moderate Allocation Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton Multi-Asset Real Return Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Franklin Templeton Variable Insurance Products Trust:

 

 

 

Franklin Flex Cap Growth Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Large Cap Value Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Rising Dividends Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Small Cap Value Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Small-Mid Cap Growth Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Strategic Income Securities Fund

 

June 1, 2012 - July 31, 2012

 

Franklin Templeton VIP Founding Funds Allocation Fund

 

June 1, 2012 - July 31, 2012

 

Templeton Developing Markets Securities Fund

 

June 1, 2012 - July 31, 2012

 

Templeton Foreign Securities Fund

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Dragon Fund, Inc.

 

June 1, 2012 - July 31, 2012

 

 

 

 

Templeton Institutional Funds:

 

 

 

Foreign Equity Series

 

June 1, 2012 - July 31, 2012

 

Emerging Markets Series

 

June 1, 2012 - July 31, 2012

         

 

 
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