Navid J. Tofigh
About Navid J. Tofigh
Navid J. Tofigh (born 1972) serves as Vice President and Secretary of Templeton Dragon Fund, Inc. (TDF). He has been Vice President since 2015 and Secretary since 2023; his principal occupation over at least the past five years is Senior Associate General Counsel at Franklin Templeton and officer of certain funds in the Franklin Templeton fund complex . Officers are appointed by the Board and serve at its pleasure . The proxy does not attribute fund TSR or operating performance metrics to executive officers; no performance targets are disclosed for Mr. Tofigh in TDF’s proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Templeton Dragon Fund, Inc. | Vice President and Assistant Secretary | 2015–2023 | Corporate secretariat support and governance administration for the Fund |
| Franklin Templeton | Senior Associate General Counsel | Past five years (disclosed as “at least the past five years”) | Legal counsel to Franklin Templeton; officer of certain funds in the complex |
| Templeton Dragon Fund, Inc. | Vice President and Secretary | 2015–present (VP since 2015; Secretary since 2023) | Board support; signed proxy materials “By Order of the Board” |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not Applicable | None disclosed | — | “Other directorships” for Mr. Tofigh: Not Applicable |
Fixed Compensation
TDF’s proxy states officers and Interested Directors are not compensated by the Fund; salaries and expenses are paid by the Investment Manager or its affiliates, and no pension/retirement benefits accrue as Fund expenses . As a result, base salary, bonus, and cash retainer information for Mr. Tofigh is not disclosed at the Fund level.
| Component | Amount | Notes |
|---|---|---|
| Base Salary | Not disclosed | Officers are paid by Investment Manager; not compensated by TDF |
| Target Bonus % | Not disclosed | No officer bonus data disclosed in Fund proxy |
| Actual Bonus Paid | Not disclosed | No officer bonus data disclosed in Fund proxy |
| Cash Retainers | Not applicable | Cash retainers in proxy apply to Independent Directors, not officers |
Performance Compensation
No equity or incentive plan details for Fund officers are disclosed in the proxy. The proxy includes no PSUs/RSUs/options, performance metric weightings, or payouts for Mr. Tofigh at the Fund level .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
| Note | Officers are paid by the Investment Manager; Fund proxy does not provide performance pay details for officers |
Equity Ownership & Alignment
| Item | Value | Notes |
|---|---|---|
| Individual beneficial ownership (TDF shares) | Not disclosed | Principal shareholders and Director holdings disclosed; individual officer holdings not itemized |
| Directors and officers as a group | <1% of shares outstanding | “Directors and officers of the Fund owned, as a group, less than 1%” as of March 10, 2025 |
| Ownership guidelines applicable | Director investment policy | Board members required to invest one-third of fees until holdings ≥3x retainer; policy applies to Directors, not officers |
| Pledging/Hedging | Not disclosed for Mr. Tofigh | No specific pledging/hedging disclosure for Fund officers in proxy |
| Principal shareholders (context) | City of London Investment Group PLC: 8,744,030 (34.49%); Lazard Asset Management: 2,675,162 (10.55%); Allspring Global Investments: 2,014,046 (7.94%) | As of March 10, 2025, per 13F filings referenced in proxy |
Employment Terms
| Term | Details |
|---|---|
| Appointment basis | Officers are appointed by the Directors and serve at the pleasure of the Board |
| Fund roles and tenure | Vice President since 2015; Secretary since 2023 |
| Employment agreement | Not disclosed at Fund level (officer compensation/agreements managed by Investment Manager) |
| Severance provisions | Not disclosed at Fund level |
| Change-in-control provisions | Not disclosed at Fund level |
| Clawbacks | Not disclosed at Fund level |
| Non-compete / non-solicit | Not disclosed at Fund level |
| Garden leave / consulting | Not disclosed at Fund level |
Investment Implications
- Pay-for-performance transparency is limited: TDF does not disclose officer cash or equity compensation; officers are paid by the Investment Manager, reducing visibility into Mr. Tofigh’s incentives and direct alignment via Fund compensation .
- Ownership alignment appears minimal: Directors and officers collectively hold <1% of shares outstanding, suggesting low direct insider equity exposure in TDF; principal shareholders are institutional, diluting officer alignment signals .
- Governance stability: Mr. Tofigh’s long tenure (VP since 2015; Secretary since 2023) and role as signatory “By Order of the Board” indicate continuity in Fund governance and processes rather than drivers of investment performance .
- Trading signals: Lack of disclosed insider incentive structures, vesting schedules, or Form 4 activity in proxy limits insider-selling pressure and compensation-related trading signals at the Fund level; any retention risk or incentive-driven behavior is likely tied to Franklin Templeton employment, not Fund metrics .