TEMIT pins 2020 underperformance on banking exposure

Moves from overweight to underweight position

Mike Sheen
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TEMIT's Chetan Sehgal
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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,...

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