Share price total return for shareholders – a positive return against a challenging market backdrop. This is 5.0% ahead of the benchmark MCSI Emerging Markets Index which fell -4.5% over the period.
The Net Asset value (NAV) total return was 0.8%
Annual Results 2023 – Key Highlights
0.5%
28.8%
Share price total return over three years which is ahead of the benchmark return of 26.3%
32%
An increase in net revenue means the Board is proposing a final dividend of 3 pence per share which, if approved by shareholders at the Annual General Meeting (AGM), will result in a total dividend for the year of 5 pence per share. This will be an increase in the total dividend of 32% compared with the previous financial year.
£2.0 billion
The company has total net assets of over £2.0 billion and is the largest investment trust in the AIC Global Emerging Markets Sector.*
Awards & Ratings
For the third consecutive year, TEMIT won the award in the “Emerging Markets Equity – Active” category in the prestigious AJ Bell Fund and Investment Trust Awards. It was also awarded an Income & Growth rating by Kepler Trust Intelligence.
Past performance is not a guide to future performance
At the half year stage we reported a decline of -8.3% whereas in the second half returns turned around and we ended the financial year with a small positive return over 12 months of +0.8%, outperforming the benchmark index which produced a total return of -4.5%. Key to investment performance will be identifying the companies best able to capitalise on these factors. Our portfolio manager, Chetan Sehgal, points to a wide variety of opportunities around the world and, despite the obvious challenges, we continue to look to the long term with some optimism.
Paul Manduca
Chairman
Annual Report
Full results are available in the Annual Report and Audited Accounts 2023