Edison issues review on Templeton Emerging Markets
Source: RNS
London, UK, 14 January 2022
Edison issues review on Templeton Emerging Markets Investment Trust (TEM)
Templeton Emerging Markets Investment Trust (TEMIT) is by far the largest fund in the AIC Global Emerging Markets sector. Its two managers Chetan Sehgal (lead manager) and Andrew Ness seek companies with robust business models, sustainable earnings growth potential and which are trading at a discount to their estimated intrinsic values. The managers' considerable experience, coupled with the deep resources of a broad investment team, enables them to identify interesting opportunities that may be overlooked by other investors. While TEMIT's performance has been disappointing over the last 12 months, partly due to a tighter Chinese regulatory environment, the trust has outpaced the performance of the MSCI Emerging Markets Index over the last three and five years.
In July 2021 there was a 5:1 share split with the objective of facilitating smaller investments and the reinvestment of dividends. TEMIT is currently trading at a 9.4% discount to cum-income NAV, which is within the range of 8.9% to 11.2% average discounts over the last one, three, five and 10 years. Dividends are paid semi-annually in January and July and the trust's current yield is 2.1%. TEMIT is subject to a five-year continuation vote; the next is due in July 2024.
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