Templeton Emerging Marke... Share Discussion Threads

[johnwwwilkinson] 03/12/2004 16:25

I sold my entire holding in TEM earlier today. Good luck to all (if any) following this thread.JWWW

[rambutan2] 04/11/2004 16:04

hi guys. its not unique but you do need to check with company beforehand, or sometime its in one of their rns. as this one was so big and the wrrs were well in the money i just assumed that they would exercise them. afterall, its new funds for them...

Mark Mobius,Templeton Global Emerging Markets

Well known in the US for the management of the group's Global Emerging Markets Fund, Franklin Templeton Investments created an onshore version of Mobius' fund in March this year. So far Mobius has taken in £8.5m in assets. In addition to these, Mobius also manages a UK-listed investment trust.

Because of the open-ended nature of the more recent fund offering, he said the portfolio is slightly different to that of the closed-ended version he also manages, which currently is at 16% discount to net asset value (NAV).

However, with a warrant issue on the investment trust due to expire at the end of October there will be a 20% flow of funds into it, which, temporarily, will have the effect of making the trust open-ended, meaning he can align the two portfolios.

He said: "I will invest at least 30% of the incoming cash into Asia, namely Korea, Taiwan and Hong Kong, because of the demand coming from China into these countries and because all three currencies are undervalued."

A theme developing across emerging markets that Mobius said he is participating in is of emerging market companies buying up and merging with their more developed market counterparts. One such company the fund has a position in is the South African brewery SAB, which recently bought Millar in the US.

"The SAB purchase of Millar is the beginning of a trend and I am expecting more consolidation globally, across all industries, whereby emerging market companies will buy developed companies."

Consumer-related stocks is another theme Mobius is looking to, particularly in Korea which has been reducing its interest rates in an effort to boost domestic consumption.

Consequently Mobius has been looking to telecoms, banks, food products, hard goods and retail sectors as a way of playing out this growth.

While some way in the future, Mobius added he is already looking to the next batch of emerging markets, after a number of those countries he is currently invested in become considered developed themselves.

He noted: "Africa is where the next series of emerging market countries will come from over the next 10-15 years, namely Nigeria, Egypt, Iran, Iraq, Syria and Kenya, all of which I am currently keeping my eye on."

However, while a number of countries have just entered the European Union, Mobius said most of them have a long way to go in terms of reform and economic change before they can consider themselves a so-called developed nation.

[mangal] 03/11/2004 14:07

Mart, I'm not sure whether this is a unique occurance or not - I have always sold out before expiry or exercised the warrants on the exercise date.
Maybe Ram can enlighten us.

[mart] 03/11/2004 10:45

I was surprised. How did this happen? Is it a unique occurrence?

[mangal] 02/11/2004 19:27

Surprise! surprise! Yes, they did get more. see the WT thread.

[mangal] 06/10/2004 19:33

Is it possible that the 10,791,725 warrants' holders who failed to exercise their warrants will get more than the holders who sold the warrants at recent high of 14p ?

[johnwwwilkinson] 06/10/2004 18:08

RNS Number:6990D
Templeton Emerging Markets IT PLC
04 October 2004


Templeton Emerging Markets Investment Trust PLC

Templeton Emerging Markets Investment Trust PLC announces that following the
expiry of the warrants on 30 September 2004 that 81,778,805 warrants have been
exercised by warrant holders leaving 10,791,725 warrants unexercised. The
exercise price of the warrants was 133p.

In accordance with the terms of warrants, the Law Debenture Trust Corporation
has been appointed to act as the trustee for those warrant holders who have not
exercised their warrants. The shares arising from the exercise of these warrants
will be sold by UBS.

For information please contact David Bliss/Will Rogers at UBS Limited (0207 567
8000). No representation or warranty is made by UBS Limited as to the accuracy
or completeness of the information contained in this announcement and no
liability will be accepted for any loss arising from its use. These figures have
been prepared by Franklin Templeton Investments and are their sole
responsibility.

END OF ANNOUNCEMENT

[moregas] 24/8/2004 23:21

Hector!!!!!! you old dog...good to see an old name still kicking about

[hectorp] 24/8/2004 20:04

One Million sell at 138.5 today... oops.

[johnwwwilkinson] 17/5/2004 21:59

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[action] 17/5/2004 10:11

JOHNWWWWILKINSON - I CAN NOT SEE YOUR COMMENTS ON THE SCREEN. IT ONLY COMES AS DOT. ANY REASON . PLEASE KINDLY ADVISE.

[chopsy] 07/5/2004 18:18

A week or two ago TEMA were 13p or 19p. You surely made a loss!

[leoleo73] 07/5/2004 14:40

Indeed, I have just reversed the switch from ords to warrants I made a week or two back for a healthy profit.

TEM should find support below 133p as the undiluted NAV becomes more relevant than the diluted one. Accordingly the option value of the warrants may be overestimated now.

[chopsy] 07/5/2004 13:05

NAVs fallen by about 10p up till yesterday. Share price fall therefore somewhat overdone. Warrant price yet to follow down to 5p.

[leoleo73] 05/5/2004 16:32

I expected the NAV to be published today (a day late due to the bank holiday), but no. I want to see whether the recent falls are justified in NAV terms.

[johnwwwilkinson] 01/5/2004 08:21

.

Action - the dot indicates a cancelled posting. Basically, I have nothing of value to say here, but feel free to open a discussion. Others may join in. You never know. For my part, this thread is useful for keeping tabs on my relatively small holding in TEMIT (and for doodling);-)
Statistics etc., are available on the Franklin Templeton and TrustNet links above

[dondee] 26/4/2004 11:14

Still a good discount to NAV.

[dondee] 26/4/2004 11:13

Still a good discount to NAV.

[johnwwwilkinson] 04/3/2004 03:41

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[johnwwwilkinson] 23/1/2004 15:21

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