Will ‘value up’ governance reforms address the ‘Korea discount’?
Korea is following in Japan’s footsteps in implementing governance reform
Korea is following in Japan’s footsteps in implementing governance reform
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Voting period takes place over six weeks starting 19 April
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Trust is still rebuilding its brand after Mark Mobius and Carlos Hardenberg exits
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Discount has seen a significant narrowing effect as sentiment warms to EM
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Investment trust also boosts ability to borrow in Chinese renminbi
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Franklin Templeton Investments has denied its emerging markets investment trust faces further turnover on top of the exit of star fund manager Mark Mobius and his protégé Carlos Hardenberg earlier this year.
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Franklin Templeton Investments has hired Martin Currie’s Andrew Ness as a portfolio manager on the Templeton Emerging Markets Investment Trust (Temit).
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The Templeton Emerging Markets Investment Trust board has blamed market volatility rather than the sudden exit of its lead manager Carlos Hardenberg for the widening of its discount in February and March.
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The JP Morgan Emerging Markets Investment Trust has been touted as a stable alternative to Templeton Emerging Markets Investment Trust, where careful succession planning following Mark Mobius’s retirement was thrown into disarray with the sudden departure of his replacement Carlos Hardenberg earlier this year.
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Templeton Emerging Markets Investment Trust’s incoming lead manager has described Mark Mobius as his mentor and said he will never view him as a competitor, despite the legendary emerging markets investor establishing a rival fund following his retirement from Franklin Templeton.
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Chetan Sehgal, lead manager of the Templeton Emerging Markets Investment Trust (Temit), said the portfolio’s core themes of investing in Information Technology (IT) and consumerism will remain during his stewardship, having just taken the reins from the outgoing Carlos Hardenberg.
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Carlos Hardenberg, lead manager for the Templeton Emerging Markets Investment Trust (TEMIT), has resigned but will remain as portfolio manager until 31 March 2018.
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