London Stock Exchange Welcomes TEMIT Celebrating its 30th Anniversary
We are delighted to be celebrating the 30th anniversary of the launch of the Templeton Emerging Markets Investment Trust1 (TEMIT). Since launch in June 1989, TEMIT has gone from strength to strength. Not only is it the oldest emerging markets investment trust on the London Stock Exchange, but it has grown to also become the largest too – and today holds total assets in excess of £2 billion.
TEMIT’s chairman Paul Manduca commented: “We are exceptionally proud of how the company has adapted and evolved over the last 30 years – not to mention the returns achieved for our shareholders.
“The transformation of emerging markets is something that we explored in depth in our recently launched research study, The Changing Nature of Emerging Markets. This report looks at how the emerging markets of today bear little resemblance to those which TEMIT began investing in 1989. Since that time, they have become far more outward looking, whilst also developing stronger trading relationships between each other. The report also shows that they have diversified the range of goods and services that they specialise in and become less reliant on commodities and basic manufactured goods.
“As we look forward, we believe that emerging markets will continue to have a major influence on the global economy. In entering TEMIT’s thirtieth year, we remain confident that our active approach will continue to add value for our shareholders.”