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You must read this before proceeding, as it explains both the legal and regulatory restrictions which apply to the information contained and investment products referred to within this Website.
Portfolio Holdings for Non-US Funds/Non-US Advisers - From time to time Franklin Templeton Resources Inc (FRI) and its subsidiaries, partnerships, joint ventures and related and affiliated business entities (“FTI”) may provide you with a partial listing of portfolio securities including but not limited to top contributors and detractors to portfolio performance owned by one or more non-US domiciled funds that are registered or passported with local regulatory authorities and are sponsored by FTI (each a “Fund” and together “Funds”) and any such additional information relating to the Fund(s) that may not otherwise be publicly disseminated. Such listing of portfolio securities and any other non-public information is subject to the following terms and conditions below and is herein referred to as “Holdings Information”.
Chief Investment Officer
Templeton Asset Management Ltd
Franklin Templeton Emerging Markets Equity
Executive Vice President
Director of Global Emerging Markets/Small Cap Strategies
Templeton Asset Management Ltd.
Templeton Emerging Markets Group
Managing Director and Chief Investment Officer
LAM Asian Equity
Franklin Local Asset Management
Emerging markets (EMs) have made great strides in the past few decades, yet outdated perceptions about them persist. The implications are serious. Investors who hold on to old assumptions about EMs are likely to overlook the transformation of these economies—and systematically under-allocate to the fastest-growing parts of the world.
We believe that an undeniable change in the long-term narrative for the entire asset class is taking place, driven by the pursuit of a better life. This change is so apparent that the term, “emerging” doesn’t seem to be the right nomenclature for these markets today. These economies have deliberately adjusted their policies, implementing reforms in ways that are now demonstrating results. This paper explores three areas we believe investors should pay attention to that together constitute a new reality in EMs—one that challenges enduring misperceptions:
All investments involve risks, including possible loss of principal. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments. Investments in emerging markets, of which frontier markets are a subset, involve heightened risks related to the same factors, in addition to those associated with these markets’ smaller size, lesser liquidity and lack of established legal, political, business and social frameworks to support securities markets. Because these frameworks are typically even less developed in frontier markets, as well as various factors including the increased potential for extreme price volatility, illiquidity, trade barriers and exchange controls, the risks associated with emerging markets are magnified in frontier markets. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in an investment portfolio adjust to a rise in interest rates, the value of the portfolio may decline.
This commentary reflects the analysis and opinions of the authors as of 13 March 2019, and may differ from the opinions of other portfolio managers, investment teams or platforms at Franklin Templeton Investments.
Because market and economic conditions are subject to rapid change, the analysis and opinions provided are valid only as of 13 March 2019, and may change without notice. Statements of fact are from sources considered reliable, but no representation or warranty is made as to their completeness or accuracy.
The companies and case studies shown herein are used solely for illustrative purposes; any investment may or may not be currently held by any portfolio advised by Franklin Templeton Investments. The opinions are intended solely to provide insight into how securities are analysed. The information provided is not a recommendation or individual investment advice for any particular security, strategy, or investment product and is not an indication of the trading intent of any Franklin Templeton managed portfolio. This is not a complete analysis of every material fact regarding any industry, security or investment and should not be viewed as an investment recommendation. This is intended to provide insight into the portfolio selection and research process. Factual statements are taken from sources considered reliable, but have not been independently verified for completeness or accuracy. These opinions may not be relied upon as investment advice or as an offer for any particular security. Past performance does not guarantee future results.
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Investments entail risks, the value of investments can go down as well as up and investors should be aware they might not get back the full value invested.
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This website is intended for residents of United Kingdom.
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