Edison issues review on Templeton Emerging Markets

London, UK, 28 January 2021

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

Templeton Emerging Markets Investment Trust (TEMIT) has the benefit of two highly experienced managers, Singapore-based Chetan Sehgal and Andrew Ness, who is based in Edinburgh. They can draw on the significant resources of a team of more than 80 investment professionals working in 14 countries around the globe. The managers successfully navigated choppy waters during 2020, a period characterised by bouts of significant stock market volatility due to the global pandemic. TEMIT's NAV has outperformed the MSCI Emerging Markets Index over the last one, three five and 10 years. Sehgal and Ness are constructive on the outlook for emerging market equities based on improving company fundamentals and relatively attractive valuations.

TEMIT is currently trading at an 11.1% discount to cum-income NAV, which is in line with the 10.6% to 12.1% range of average discounts over the last one, three, five and 10 years. The trust pays semi-annual dividends and is well positioned given its significant revenue reserves. Based on its current share price, TEMIT offers a dividend yield of 1.9%, not including a 10.0p per share special dividend in FY21 following a favourable tax ruling.

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