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22 Jun 2022

Templeton Emerging Markets Investment Trust

Company Notes

Actively managed core exposure to Emerging Markets

Launched in 1989, Templeton Emerging Markets* is the largest Emerging Markets investment trust, with assets of £2.1bn. Since February 2018, its lead manager has been Chetan Sehgal, who is based in Singapore and has been involved with the fund for a number of years, having joined Franklin Templeton in 1995. Since September 2018, he has been supported by Andrew Ness, the fund’s co-manager, who is based in Edinburgh. The managers are supported by a team of over 70 investment professionals covering Emerging Market public equities, who are based in 18 offices across 14 countries.

The portfolio comprises between 60 and 80 holdings across a spectrum of market caps, with the aim being to create a high conviction, ‘best ideas’ portfolio. Since Chetan became the fund’s lead manager in February 2018, the fund has delivered a NAV total return of +3% compared with +4% for its benchmark, the MSCI Emerging Markets Index, and +16% for the Global Emerging Markets peer group. The fund also underperformed in its latest financial year to 31 March 2022 (-17% vs -7%), with relative performance negatively impacted by government regulatory intervention in China, the sell-off in Technology stocks and the Russian invasion of Ukraine.

*Denotes a corporate broking client of Winterflood Securities