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- TEM.NZX - Templeton Emerging Markets Investment Trust Plc Ord Shares
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Timely reminder about this fund, thanks BP.
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I read on the FT that the respected manager, Mark Mobius, was stepping down and that may recently have exerted an additional downward pressure on the TEM price. It is trading at quite a large discount to NAV. It has been underperforming its benchmark, so it will be interesting to see where the future management will take it.
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Hoop, not sure if you follow this thread, but if so would you be so kind as to comment on the chart? Looks interesting. Cheers, NBT
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I owned some 20 yrs ago after recommendation from share broker,disappointing performance outcomes but I guess timing is everything with this one, sold eventually
They do pay a small dividend that needs to be calculated in
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Last edited by Beagle; 07-09-2015 at 02:48 PM.
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Took a hammering with some of it's holdings including it's largest (>8% of fund) Brilliance China Automotive - the SP dropping from HK$18 to $8 last 52 weeks - but have a look at Brilliance now and you would probably say raging buy..
http://www.reuters.com/finance/stock...symbol=1114.HK
They must have got out of India's Tata Consultancy that I mentioned in last post, emerging markets Banks/ Finance is the funds biggest sector at ~30%. Don't know what the mood currently is there.
Worth drilling down into the funds larger holdings and exposure to certain sectors to get a feel for what you are buying here.
For TA or people new to TEM, best to follow trading on the LSE as NZ just mirrors that, only with reduced liquidity.
http://www.londonstockexchange.com/e...M.html?lang=en
Keen to re-enter but bottom picking not something I'm good at.
Last edited by psychic; 07-09-2015 at 03:03 PM.
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Sorry Roger, just read your post. Agree - GBP/NZD a part of the equation here
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Originally Posted by Bjauck
I read on the FT that the respected manager, Mark Mobius, was stepping down and that may recently have exerted an additional downward pressure on the TEM price. It is trading at quite a large discount to NAV. It has been underperforming its benchmark, so it will be interesting to see where the future management will take it.
An article by Dr Mark Mobius, dated from June so predates a lot of the Chinese ructions of recent times.
http://www.iii.co.uk/articles/247198...erging-markets
In my view, there is money still waiting to be invested around the globe, money which could continue to fuel global equity markets - even as the Fed is expected to start to raise interest rates in the United States.
In our view, stocks in many emerging markets are undervalued now (based on price/earnings and price/book values), and we believe there is still money in motion as central banks globally expand their balance sheets.
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Originally Posted by Roger
The NZX chart does look absolutely horrendous at face value but you also need to factor in that this obviously has its primary listing on the U.K. market and when you start to consider the N.Z. SP should have found some meaningful support from the fall in the $Kiwi from ~50 pence all the way down to ~41 pence in recent months then the U.K. listing chart must look FAR worse
If its underperforming the EM benchmark and has lost one of its best managers and has underperformed for some time as has been suggested above them maybe this isn't all its cracked up to be ?
Another Barramundi of sorts ?...or perhaps that's slightly harsh
Not sure about the comparison with Barramundi ... I guess at least TEM invest in stocks which are not that easy to buy yourself. They did as well quite well during the time the emerging markets flourished (up to 2010 / 2011) - with typically 2 digit returns over more than a decade.
Not sure whether I expect them to get long term back into this 2 digit growth mode, but I would expect some significant appreciation back into the band they used to move in over the last 5 years or so ($10 ... $12) if & when the Chinese flu is over (and I am rather sure, it will go - just not so sure, when).
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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Yes fair comments BP and Psychic. For mine, using common sense technical indicators makes at least as much sense as anything else for this fund. I won't reconsider getting back in until it's clearly broken back up through the 100 day MA...however long that takes remains to be seen, could be quite a while I suspect.
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