Edison issues review on Templeton Emerging Markets

RNS Number : 8568R

Templeton Emerging Markets IT PLC

19 June 2018

 

London, UK, 19 June 2018

Edison issues review on Templeton Emerging Markets Inv. Trust (TEM)

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.

TEMIT is currently trading at a 13.6% discount to cum-income NAV. This is higher than the averages of the last one, three, five and 10 years (range of 9.6% to 12.8%). The board actively seeks to manage the discount by regularly buying back shares. During FY18, 3.4% of the share count was repurchased at a cost of c £70m. In FY18, TEMIT's 15p dividend was 82% higher than in FY17, which was helped by a reallocation of fees; its current dividend yield is 2.1%.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Mel Jenner, [phone]

Gavin Wood, [phone]

[e-mail]

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn        https://www.linkedin.com/company/edison-investment-research 

Twitter           www.twitter.com/Edison_Inv_Res 

YouTube       www.youtube.com/edisonitv 

 

END

 

 

NRAEANKNFSLPEEF