Edison issues update on Templeton Emerging Markets
London, UK, 27 February 2023
Edison issues update on Templeton Emerging Markets IT (TEM)
Templeton Emerging Markets Investment Trust (TEMIT) has two very experienced managers: Chetan Sehgal (lead manager - based in Singapore) and Andrew Ness (based in Edinburgh). They are encouraged by the trust's improved absolute and relative performance in recent months as investors are focusing more on company fundamentals rather than macroeconomic developments. The managers seek quality companies with high returns and sustainable business models that are trading at a discount to their intrinsic values and TEMIT's resulting portfolio is broadly diversified by geography, sector and market cap.
TEMIT's 12.8% discount compares with the 9.3-16.4% range of discounts over the last 12 months. Over the last one, three, five and 10 years the trust's average discounts are 12.8%, 11.1%, 11.2% and 11.3% respectively. There is scope for the trust to be afforded a higher valuation if its relative performance continues to improve or investor sentiment towards emerging market equities becomes more favourable.
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