6. 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
November
30,
2020,
in
valuing
the
Fund's
assets
carried
at
fair
value,
is
as
follows:
A
reconciliation
of
assets
in
which
Level
3
inputs
are
used
in
determining
fair
value
is
presented
when
there
are
significant
Level
3
financial
instruments
at
the
beginning
and/or
end
of
the
period.
7.
Subsequent
Events
The Fund
has
evaluated
subsequent
events
through
the
issuance
of
the
Statement
of
Investments
and
determined
that
no
events
have
occurred
that
require
disclosure.
Level
1
Level
2
Level
3
Total
Templeton
Emerging
Markets
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Brazil
...............................
$
8,801,568
$
—
$
—
$
8,801,568
Cambodia
............................
—
932,572
—
932,572
China
...............................
32,137,630
64,551,660
—
96,689,290
Czech
Republic
.......................
—
721,945
—
721,945
Hong
Kong
...........................
—
230,496
—
230,496
Hungary
.............................
—
2,652,223
—
2,652,223
India
................................
—
19,251,612
—
19,251,612
Indonesia
............................
—
2,060,684
—
2,060,684
Kenya
...............................
217,424
—
—
217,424
Mexico
..............................
4,747,948
—
—
4,747,948
Pakistan
.............................
1,173,416
—
—
1,173,416
Peru
................................
1,042,362
—
—
1,042,362
Russia
..............................
6,961,926
13,468,525
—
20,430,451
South
Africa
..........................
1,242,275
10,632,865
—
11,875,140
South
Korea
..........................
—
62,822,325
—
62,822,325
Taiwan
..............................
—
46,298,314
—
46,298,314
Thailand
.............................
—
5,410,522
—
5,410,522
United
Kingdom
.......................
—
7,610,698
—
7,610,698
United
States
.........................
6,176,253
—
—
6,176,253
Preferred
Stocks
........................
9,313,053
—
—
9,313,053
Escrows
and
Litigation
Trusts
...............
—
—
—
a
—
Short
Term
Investments
...................
18,129,124
—
—
18,129,124
Total
Investments
in
Securities
...........
$89,942,979
$236,644,441
$—
$326,587,420
a
Includes
securities
determined
to
h
ave
no
value
at
November
30,
2020.
