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templeton emerging markets

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Templeton Emerging Markets Investment Trust

New manager oversees improved performance

Review | Investment Companies | 08 Nov 2017

Templeton Emerging Markets Investment Trust (TEMIT) aims to generate long-term capital growth from a portfolio of emerging market equities that is diversified by geography and sector. Carlos Hardenberg took over as lead manager on 1 October 2015, since when there has been a noticeable improvement in performance. TEMIT has outperformed its MSCI Emerging Markets Index benchmark by c 11pp over the last 12 months and has the best performance versus its peers by a considerable margin. Due to its substantial revenue reserves, the trust was able to maintain its FY17 annual dividend at 8.25p per share and a change in expense allocation will boost revenue returns from FY18; its current yield is 1.1%.

Templeton Emerging Markets Investment Trust

Improving relative performance

Review | Investment Companies | 03 Apr 2017

Templeton Emerging Markets Inv. Trust (TEMIT) aims to generate long-term capital growth from a diversified portfolio of emerging market equities. Since the change in manager in October 2015, there has been a notable improvement in TEMIT's relative performance o over the last 12 months, its NAV total return has outperformed its MSCI Emerging Markets index benchmark by 10.2%. TEMIT has historically run a small cash balance, but in January 2017 announced it had entered into a new £150m credit facility; if fully drawn down, it would take gross gearing to c 7.0% of net assets.

Templeton Emerging Markets Investment Trust

New lead manager broadens TEMIT's portfolio

Review | Investment Companies | 22 Jul 2016

Templeton Emerging Markets Investment Trust (TEMIT) invests in emerging market-listed equities or in companies listed elsewhere where the majority of their revenues are derived from emerging markets. Since 1 October 2015, TEMIT has been managed by Carlos von Hardenberg, who has broadened the trust's exposure; he aims to generate long-term capital growth by investing in a portfolio of c 90 companies diversified by sector and geography. The manager has a value bias and stocks are selected following thorough fundamental analysis. Although performance in 2015 was challenging, the trust has outperformed its benchmark over 10 years and 2016 performance to date has shown a marked improvement.

Templeton Emerging Markets Investment Trust

Favourable fundamentals for emerging markets

Update | Investment Companies | 03 Jun 2015

Templeton Emerging Markets Investment Trust (TEMIT) is an actively managed fund that invests across global emerging markets, maintaining a relatively concentrated portfolio of c 50 stocks that are well-diversified by geography and sector. The manager aims to invest in higher-quality companies for the long term, focusing on sustainable earnings prospects, and sees the recent increase in market volatility creating attractive entry points for new investments. TEMIT has a track record of long-term outperformance with NAV total returns ahead of the benchmark and peer group over 10 years.

Templeton Emerging Markets Investment Trust

Emerging markets picking up, but still offer value

Review | - | 07 Jul 2014

Templeton Emerging Markets Investment Trust (TEMIT) aims to achieve long-term capital gains through investing in companies operating in emerging markets. Even though these markets have shown modest signs of picking up recently, there has been pronounced relative weakness over five years leaving valuations at attractive levels compared with developed markets. The potential for volatility needs to be acknowledged, but this could represent an opportunity for investors with a long-term view. TEMIT itself has a relatively focused portfolio, is managed with a long-term, fundamental approach and has outperformed its benchmark over five and 10 years.

Templeton Emerging Markets Investment Trust

Emerging markets valuation opportunity

Review | Investment Companies | 17 Mar 2014

Templeton Emerging Markets Investment Trust (TEMIT) aims to achieve long-term capital gains through investing in companies operating in emerging markets. These markets have underperformed the world market in two of the last three years, leaving valuation multiples at relatively attractive levels, with the forward P/E, for example, standing at 9.9x versus 14.1x for the world market. This points to a potentially interesting entry point for investors. TEMIT provides access to these markets via a fundamentally selected, relatively focused and low turnover portfolio.

Utilico Emerging Markets

Infrastructure and utilities in growth markets

Initiation | Investment Companies | 03 Oct 2013

Utilico Emerging Markets (UEM) is a closed end investment company investing in utilities, infrastructure and related companies in emerging markets. Unusually among funds investing in this area, it offers a yield of over 3%, reflecting investment in cash-generative businesses. Following a period of weakness for emerging markets earlier this year, investors may wish to consider using UEM to gain exposure to companies that are integral to the development of these long-term growth markets.

Templeton Emerging Markets Investment Trust

Well-resourced emerging markets pioneer

Review | Investment Companies | 25 Jun 2013

Templeton Emerging Markets Investment Trust (TEM) aims to achieve long-term capital gains through investing in companies operating in emerging markets (EM). As a pioneer in the field, the manager has extensive experience of the evolution of these markets; TEM was launched 24 years ago. Templeton Asset Management manages over £35bn of EM assets and supports a network of 18 offices providing local access. This, combined with a bottom up investment process and long-term view, is likely to have played a role in strong medium- and long-term performance, with the trust outperforming its benchmark over one, three, five and 10 years.