TEMIT pins 2020 underperformance on banking exposure

Moves from overweight to underweight position

Mike Sheen
TEMIT's Chetan Sehgal

TEMIT's Chetan Sehgal

The £2.2bn Templeton Emerging Markets Investment Trust (TEMIT) has blamed its exposure to banking stocks for losses accrued so far in 2020, with the company now reducing exposure to the sector, which has been hard hit by the economic consequences of the coronavirus pandemic.

Speaking to investors in a webinar on Friday (26 June), lead manager Chetan Sehgal explained that "most of the detractors" to performance since the beginning of the year had been financial institutions,...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Investment Trusts

Retail investors have been investing in trusts

Retail investors hungry for alternative investment trusts

Particular taste for esoteric trusts

clock 25 November 2021 • 3 min read
Wind turbine

JLEN Environmental Assets Group performance driven by increase in power price forecast

Interim dividend of 1.70p declared

Jenny Turton
clock 25 November 2021 • 1 min read
Gresham House NAV overstated

Gresham House Strategic's NAV overstated since 30 July

£1.3m over

clock 24 November 2021 • 2 min read