Edison issues Update on Templeton Emerging Markets IT (TEMIT) – Under-owned, undervalued & under-appreciated.
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Edison Investment Research Limited
London, UK, 13 December 2023
Edison issues Update on Templeton Emerging Markets IT (TEMIT) – Under-owned, undervalued & under-appreciated. Templeton Emerging Markets Investment Trust’s (TEMIT’s) co-managers Chetan Sehgal (lead manager) and Andrew Ness consider that the case for emerging markets is not well understood. Hence, they believe that the regions remain under-owned, undervalued and under-appreciated, which provides an interesting opportunity for global investors. There are several powerful trends supporting the superior economic growth prospects of emerging markets versus those in developed regions, including demographics, urbanisation, higher consumption and technological innovation. Emerging markets also remain relatively attractively valued. TEMIT’s performance versus the MSCI Emerging Markets Index troughed in April 2022 and is in a steadily improving trend. The trust’s results tend to be better when investors focus on company fundamentals, which drive equity returns over the long term, rather than considering near-term macroeconomic events. As a result of economic uncertainty and macroeconomic events in recent years, investor risk aversion is elevated. This is reflected in TEMIT’s double-digit 13.3% discount, which is wider than the trust’s historical averages. There is significant scope for TEMIT to be afforded a higher valuation if investors become more interested in the positive growth and valuation attributes of emerging markets and/or the trust’s relative performance continues to improve. Click here to view the full report. All reports published by Edison are available to download free of charge from its website: www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. 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 +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
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1796417 13-Dec-2023
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