RCS - TempletonEmerg.Mkt. - Edison issues review on Templeton Emerging Markets

Templeton Emerging Markets Investment TrustAnnouncement

27/06/2022 07:00

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RNS Number : 1716Q  Templeton Emerging Markets IT PLC  27 June 2022

London, UK, 27 June 2022

 

Edison issues review on Templeton Emerging Markets Investment Trust (TEM)

Templeton Emerging Markets Investment Trust (TEMIT) is a very large and
well-established fund run by experienced managers, Chetan Sehgal (lead
manager) and Andrew Ness. Despite a tough period of performance since Q221 due
to macroeconomic developments, the managers are sticking to their long-term
strategy of investing in companies with sustainable earnings power that are
trading at a discount to their estimated intrinsic values. Sehgal and Ness
remain positive on the prospects for emerging markets, which are home to a
range of 'best-in-breed' companies including semiconductor manufacturers and
low-cost commodity producers. The managers are further diversifying the
portfolio in response to the new realities of rising interest rates, China's
zero-COVID policy, the war in Ukraine and climate change.

TEMIT's shares are trading at a 12.9% discount to cum income NAV, which is
wider than the 10.6% to 11.1% range of average discounts over the last one,
three, five and 10 years. This may be due to the trust's relative
underperformance since Q221; hence any improvement in TEMIT's results could
result in a narrower discount.

 

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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.

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