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Franklin Templeton poaches AAA-rated EM stockpicker

Franklin Templeton poaches AAA-rated EM stockpicker

Franklin Templeton Emerging Markets (FTEME) has hired Emerging Market Equities Citywire AAA-rated Andrew Ness from Martin Currie.

Ness (pictured) one of the best performing emerging market managers of recent years, joins the firm from Martin Currie, where he had worked since moving from Swip in 2010.

'Andrew is a seasoned emerging markets portfolio manager with a long-term track record of outperformance, and we are very excited to have someone of his caliber and experience joining our team,' said Manraj Sekhon, FTEME's cheif investment officer.

'The needs of our clients in emerging markets investing continue to evolve as does the investment landscape. Andrew’s appointment underscores our commitment to ensuring that we have the right talent and resources in place to deliver on our investors’ expectations.'

Ness will work alongside FTEME's senior portfolio manager Chetan Sehgal and joins the team after period of turmoil that saw TEM's chair, emerging market legend Mark Mobius, and two senior portfolio managers Carlos Hardenberg and Greg Konieczny, leave the firm to launch a boutique.

Franklin Templeton’s flagship Templeton Emerging Markets Investment Trust (TEMIT), which is managed by Sehgal, has performed well recently, growing its net asset value by 56% in the past three years.

However, following the high profile exits the trusts discount has increased to 12.1% from 8% earlier this year.

 

 

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