£2012.2m market cap
810p last close
Launched in June 1989, TEM was one of the first emerging markets funds in the UK. The trust seeks long-term capital appreciation through investment in companies operating in emerging markets or those with stocks listed on the stock markets of such countries. This may include companies that have a significant amount of their revenues in emerging markets, but which are listed on stock exchanges in developed countries. The benchmark is the MSCI Emerging Markets Index.
Templeton Emerging Markets Investment Trust (TEMIT) is managed by Chetan Sehgal (based in Singapore) and Andrew Ness (based in Edinburgh). They draw on the broad resources of the Franklin Templeton Emerging Markets Equity (FTEME) investment team, seeking quality companies trading at a discount to their intrinsic value that can be held for the long term. Despite increased stock market volatility in recent quarters, the managers have built on TEMIT’s solid long-term track record; it has outperformed its MSCI Emerging Markets index benchmark over the last one, three and 10 years, and is broadly in line over the last five years.