Templeton EM trust reduces fees after strong year under new management

Final results to 31 March

In its latest results for the year to 31 March, the £2.2bn Templeton Emerging Markets investment trust (TEMIT) announced a turnaround in performance as the region has started to recover, and a reduction in management fees.

Since Carlos Hardenberg (pictured) took over from Mark Mobius as lead manager in October 2015 to 7 June 2017, the trust's share price has returned 75% versus the MSCI Emerging Markets' return of 54% and the AIC Global Emerging Markets Equities sector average of 43%, according to FE. The key driver of the strong returns has been the stock selection, with Hardenberg changing sector weightings significantly over the last year, as the trust increased its exposure to technology and consumer discretionary holdings.  Stock selection in China and overweight allocations to Brazil and Peru part...