Edison reviews Templeton Emerging Markets (TEM)

RNS Number : 4725B

Templeton Emerging Markets IT PLC

30 January 2020

 

London, UK, 30 January 2020

Edison reviews Templeton Emerging Markets Investment Trust (TEM)

Templeton Emerging Markets Investment Trust (TEMIT) has two experienced managers - Chetan Sehgal (based in Singapore) and Andrew Ness (based in Edinburgh). In 2019, they delivered a very strong year of performance in both absolute and relative terms, and are continuing to find attractive investment opportunities across a range of sectors and geographies. The managers are able to draw on a large and well-resourced investment team that has been refreshed in recent years, seeking quality companies that can be held for the long term. Ness says that TEMIT offers a portfolio with superior growth prospects, that is trading broadly in line with its benchmark, the MSCI Emerging Markets index.

TEMIT's shares are currently trading at a 10.1% discount to cum-income NAV, which compares with the 10.1% to 12.1% range of average discounts over the last one, three, five and 10 years. The trust historically paid a single annual dividend, but now pays out twice a year in July and January. TEMIT's FY19 dividend was 6.7% higher year-on-year, and it currently yields 1.9%.

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