Share this page:
Stay connected:
Welcome to the Citywire Money Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error

Templeton Emerging Markets IT
Richard Shaw
Posted: 10 March 2018 12:49:00(UTC)
#1

Joined: 10/03/2018(UTC)
Posts: 4

Thanks: 3 times
Was thanked: 1 time(s) in 1 post(s)
Any thoughts on TEMIT, now that Carlos Hardenberg has left?
JohnW
Posted: 12 March 2018 15:47:03(UTC)
#2

Joined: 14/01/2012(UTC)
Posts: 208

Thanks: 162 times
Was thanked: 206 time(s) in 97 post(s)
Was thinking of investing in it, but after the manager left I'll wait to see the colour of the new manager's money first.
1 user thanked JohnW for this post.
Richard Shaw on 12/03/2018(UTC)
Law Man
Posted: 12 March 2018 16:08:04(UTC)
#3

Joined: 29/04/2014(UTC)
Posts: 259

Thanks: 111 times
Was thanked: 470 time(s) in 188 post(s)
I hold a very small amount in each of TEM and JMG. I liked the transfer from Mr Möbius to Mr Hardenburg, and was thinking of adding; but now I shall hold and put further EM money elsewhere: possibly FEET which has improved of recent and adds something different.
1 user thanked Law Man for this post.
Richard Shaw on 12/03/2018(UTC)
Richard Shaw
Posted: 12 March 2018 21:33:10(UTC)
#4

Joined: 10/03/2018(UTC)
Posts: 4

Thanks: 3 times
Was thanked: 1 time(s) in 1 post(s)
My own position with TEMIT is that I first bought in in Jun 09 and Nov 09, held on through several years of poor performance and was close to throwing in the towel when Mark Mobius was replaced by Carlos Hardenberg. This coincided with the turn in the commodities cycle and performance has been good since then, probably helped by Hardenberg moving the fund away from a strict value approach and buying into some tech stocks.

I'm concerned now though that there may be a further shift in approach with Chetan Segal running the fund, although I note that the board is keen to emphasise that there will be continuity. I'm considering moving some of my holding into JPMorgan Emerging Markets IT.

JohnW
Posted: 12 March 2018 23:14:38(UTC)
#5

Joined: 14/01/2012(UTC)
Posts: 208

Thanks: 162 times
Was thanked: 206 time(s) in 97 post(s)
I'm undecided on the emerging market yet, but either way it will need to be after the start of the next financial year. At the moment I'm top heavy in UK and as soon as possible I'm intending selling one UK trust, TMPL and buying JPGI. TMPL has done well for me in the past, but is the poorest performer over the last couple of years, so is the obvious trust to swap.
King Lodos
Posted: 13 March 2018 02:05:59(UTC)
#6

Joined: 05/01/2016(UTC)
Posts: 3,054

Thanks: 723 times
Was thanked: 4782 time(s) in 1855 post(s)
The problem is most investors consistently switch funds at the wrong time .. The DALBAR study (which uses investor returns from retail funds) calculates the average investor makes about 2.4% annually, long-term – and that's mostly from switching funds at the wrong time.

No opinion on that particular fund, but at least historically there are two different market effects: momentum and mean reversion .. and momentum is the tendency for performance to persist, and mean reversion is the tendency for it to revert back towards average .. Momentum is a short-term effect.

I'd say you either invest in funds you understand well enough to know underperformance is a buying opportunity (for me that would be LT Global and Fundsmith), or you switch out underperformers very quickly (within a few months) .. Otherwise buy index funds, which neither out not underperform, and therefore improve typical investor returns hugely
9 users thanked King Lodos for this post.
Keith Cobby on 13/03/2018(UTC), Mickey on 13/03/2018(UTC), Alex Peard on 13/03/2018(UTC), Sara G on 13/03/2018(UTC), kWIKSAVE on 13/03/2018(UTC), Richard Shaw on 13/03/2018(UTC), Peter59 on 02/04/2018(UTC), Raj K on 02/04/2018(UTC), Dian on 15/04/2018(UTC)
Windlesham Don
Posted: 01 April 2018 18:55:47(UTC)
#7

Joined: 22/08/2017(UTC)
Posts: 11

Thanks: 4 times
Was thanked: 13 time(s) in 7 post(s)
This thread has been idle for a few weeks, but I have just decided to sell my long term holding in TEMIT after the departure of the manager.

I currently have 3% of my portfolio in EM, all in TEMIT, and I want to increase my exposure to EM by selling TEMIT and buying a couple of EM ITs.

From a look at those available (using Trustnet to do so) I have identified BlackRock Frontiers IT (BRFI) and Utilico Emerging Markets (UEM) as my preferred choices.

These trusts have performed well over a reasonable timescale, do not appear to overlap (with BRFI having a large exposure to finacials and UEM concentrating on utilities and infrastructure) and provide some dividend return. Utilico trade at a significant discount to NAV, but BRFI are at a small premium.

If anyone has an opinion on my choices then I'd be grateful to hear all views, positive or negative.

Thanks in Advance,
Windlesham Don
1 user thanked Windlesham Don for this post.
martin hargan on 02/04/2018(UTC)
Jim S
Posted: 01 April 2018 23:54:00(UTC)
#8

Joined: 08/12/2016(UTC)
Posts: 250

Thanks: 422 times
Was thanked: 307 time(s) in 154 post(s)
Windlesham Don;59959 wrote:
This thread has been idle for a few weeks, but I have just decided to sell my long term holding in TEMIT after the departure of the manager.

I currently have 3% of my portfolio in EM, all in TEMIT, and I want to increase my exposure to EM by selling TEMIT and buying a couple of EM ITs.

From a look at those available (using Trustnet to do so) I have identified BlackRock Frontiers IT (BRFI) and Utilico Emerging Markets (UEM) as my preferred choices.

These trusts have performed well over a reasonable timescale, do not appear to overlap (with BRFI having a large exposure to finacials and UEM concentrating on utilities and infrastructure) and provide some dividend return. Utilico trade at a significant discount to NAV, but BRFI are at a small premium.

If anyone has an opinion on my choices then I'd be grateful to hear all views, positive or negative.

Thanks in Advance,
Windlesham Don


Utilico is kind of a cross between EM and Infrastructure, it won't go up that fast, but it should be quite defensive if markets drop. BRFI would be my choice, the premium is only 3-4%. Maybe check out Hermes too.

2 users thanked Jim S for this post.
Windlesham Don on 02/04/2018(UTC), martin hargan on 02/04/2018(UTC)
Dian
Posted: 02 April 2018 00:27:13(UTC)
#10

Joined: 09/10/2016(UTC)
Posts: 311

Thanks: 298 times
Was thanked: 137 time(s) in 96 post(s)
Quote:
Windlesham Don wrote:
This thread has been idle for a few weeks, but I have just decided to sell my long term holding in TEMIT after the departure of the manager.

I currently have 3% of my portfolio in EM, all in TEMIT, and I want to increase my exposure to EM by selling TEMIT and buying a couple of EM ITs.

From a look at those available (using Trustnet to do so) I have identified BlackRock Frontiers IT (BRFI) and Utilico Emerging Markets (UEM) as my preferred choices.

These trusts have performed well over a reasonable timescale, do not appear to overlap (with BRFI having a large exposure to finacials and UEM concentrating on utilities and infrastructure) and provide some dividend return. Utilico trade at a significant discount to NAV, but BRFI are at a small premium.

If anyone has an opinion on my choices then I'd be grateful to hear all views, positive or negative.


BlackRock Frontiers IT (BRFI) could do well. It seems they have taken wise move by investing in various regions like Asia, South America, East Europe and North Africa and so on. For me it is a kind of diversification which could reduce risk because not all frontier markets will perform similar manner almost ever year.

Their holdings include some promising sectors like food processing and Financials. Frontier markets are at an earlier stage of economic and political development than larger and more mature markets. Moreover, they generally possess favorable demographics and good long term prospects. This could lead to demand for financial products, internet and basic needs like food and utilities. However, investors should be aware of their risks and rewards. For example there could be currency risk and short term political risk and so on but still could reward handsomely.

Utilico Emerging Markets (UEM)

This can take as a defensive play. Sorry, I haven’t done any meaningful study on UEM yet.

Quote:
King Lodos wrote: The problem is most investors consistently switch funds at the wrong time.I'd say you either invest in funds you understand well enough to know underperformance is a buying opportunity.


I have seen different funds have outperformed and underperformed at different times. When stocks or funds underperform, there could be some great buying opportunities.
2 users thanked Dian for this post.
Mr Helpful on 02/04/2018(UTC), Windlesham Don on 02/04/2018(UTC)
philip gosling
Posted: 02 April 2018 11:34:40(UTC)
#9

Joined: 06/01/2013(UTC)
Posts: 153

Thanks: 35 times
Was thanked: 199 time(s) in 96 post(s)
Windlesham Don;59959 wrote:
This thread has been idle for a few weeks, but I have just decided to sell my long term holding in TEMIT after the departure of the manager.

I currently have 3% of my portfolio in EM, all in TEMIT, and I want to increase my exposure to EM by selling TEMIT and buying a couple of EM ITs.

From a look at those available (using Trustnet to do so) I have identified BlackRock Frontiers IT (BRFI) and Utilico Emerging Markets (UEM) as my preferred choices.

These trusts have performed well over a reasonable timescale, do not appear to overlap (with BRFI having a large exposure to finacials and UEM concentrating on utilities and infrastructure) and provide some dividend return. Utilico trade at a significant discount to NAV, but BRFI are at a small premium.

If anyone has an opinion on my choices then I'd be grateful to hear all views, positive or negative.

Thanks in Advance,
Windlesham Don




Templeton has been in 1st Quartile for past 1 and 3 years. Utilico has been below average for past 1, 3 and 5 years.

BRFI maybe 'due" for an uplift. Certainly Simply Wall street give some interesting comments on it at

https://simplywall.st/st...ser&utm_source=post
1 user thanked philip gosling for this post.
Windlesham Don on 02/04/2018(UTC)
Dian
Posted: 15 April 2018 06:27:55(UTC)
#11

Joined: 09/10/2016(UTC)
Posts: 311

Thanks: 298 times
Was thanked: 137 time(s) in 96 post(s)
I found the following link which was published on 08th September 2017.

https://www.trustnet.com...-investment-trust-picks

I also found “Aviva Investors Emerging Markets Corp Bd Ih EUR” from the following link.

Could there be some opportunity?

http://citywireselector....-frontier-bets/a1110291

I found the following funds as well from the above link.Are they newly formed funds?

Baring Frontier Market funds
+ Reply to discussion

Markets

Other markets