Templeton Emerging Markets Investment Trust

LN: TEM

£1937.2m market cap

765p last close

Launched in June 1989, TEM was one of the first emerging markets funds in the UK. The trust seeks long-term capital appreciation through investment in companies operating in emerging markets or those with stocks listed on the stock markets of such countries. This may include companies that have a significant amount of their revenues in emerging markets, but which are listed on stock exchanges in developed countries. The benchmark is the MSCI Emerging Markets Index.

Investment summary

Templeton Emerging Markets Investment Trust (TEMIT) has been managed by Chetan Sehgal since the beginning of February 2018, when he took over from prior lead manager Carlos Hardenberg. The two managers had worked closely together for a number of years and there will be no change to the investment process. Sehgal will continue to follow Franklin Templeton’s value-based, bottom-up stock selection approach, aiming to generate long-term capital growth. The manager is optimistic on the outlook for emerging market equities, citing above-average earnings growth with below-average valuations versus global equities. TEMIT has recently announced its FY18 results (ending 31 March); its NAV and share price total returns of 12.4% and 13.7% respectively were ahead of the 11.8% total return of the benchmark MSCI Emerging Markets index.

Share price graph
Price performance
%
1m
3m
12m
Actual 4.5 11.0 (2.6)
Relative* 1.2 8.0 (1.1)
52-week high/low 794.0p/649.0p
*% relative to local index
Key management
Paul Manduca Chairman
Carlos Hardenberg Lead manager

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