Templeton Emerging Markets Investment Trust TEMIT
Rated Fund 2013-15, 2018. A broad portfolio of domestic growth stocks
This trust was named Money Observer's Best Emerging Markets Trust in 2017. Launched in 1989 as the first global emerging markets trust, it has grown into the giant of its sector with assets of �2.4 billion.
The make-up of the portfolio has changed significantly since Carlos Hardenberg took over as lead manager from emerging markets veteran Mark Mobius at the end of 2015. By increasing the number of holdings from around 50 to 90, he has made it easier to include exposure to less-accessible frontier markets.
He has also shifted the sectoral emphasis away from banks and energy in favour of information technology and consumer discretionary, in the belief that emerging markets have become less dependent on exports of commodities and goods, and are more driven by domestic growth, technology and services.
Hardenberg is based in London, and is supported by Chetan Sehgal in Singapore. Like Mobius, Hardenberg looks for capital growth from companies with strong corporate governance and robust balance sheets that are generating plenty of cash, and subscribes to Franklin Templeton's value-oriented approach.
The trust's shares traded at a discount to net assets of around 12 per cent at the end of 2017, having narrowed from 15 per cent in mid-2016.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|Samsung Electronics Co Ltd||8.24 %|
|Naspers Ltd Class N||5.78 %|
|Taiwan Semiconductor Manufacturing Co Ltd||4.90 %|
|Brilliance China Automotive Holdings Ltd||4.83 %|
|Alibaba Group Holding Ltd ADR||4.25 %|
|Tencent Holdings Ltd||3.16 %|
|Unilever PLC||3.15 %|
|Buenaventura Mining Co Inc ADR||3.08 %|
|Itau Unibanco Holding SA ADR||2.25 %|
|ICICI Bank Ltd||2.19 %|
|Asia - Emerging||37.11 %|
|Asia - Developed||25.36 %|
|Latin America||16.15 %|
|Europe - Emerging||8.94 %|
|Financial Services||22.21 %|
|Consumer Cyclical||18.72 %|
|Basic materials||6.19 %|
|Consumer Defensive||6.11 %|
Data provided by Morningstar.
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