Money Makers

Templeton Emerging Markets (ticker: TEM) was launched in 1989 and is the oldest London-listed emerging markets trust. It is also the biggest with assets of around £2bn. TEM was originally managed by the legendary Dr. Mark Mobius and then by Carlos Hardenberg for a couple of years. Chetan Sehgal took over from Hardenberg and has looked after the portfolio since April 2018. From its IPO to March 2023, TEM's annualised NAV return was 11.5%, well ahead of the 9.0% a year generated by the emerging markets index and without using much in the way of gearing. However, its record over the last decade h...