Edison review on Templeton Emerging Markets IT

RNS Number : 0064F

Templeton Emerging Markets IT PLC

22 July 2016

 

London, UK, 22 July 2016

Edison issues research review on Templeton Emerging Markets
Investment Trust (TEM)

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.

TEMIT's current share price discount to cum-income NAV of 12.5% is similar to the 12-month average of 12.8%, but wider than the averages of the last three, five and 10 years (range of 8.8% to 11.1%). This suggests potential for the discount to narrow if investment performance continues to improve and/or investor sentiment towards emerging market equities becomes more positive.

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