TGGF driven by Eurozone and Asian stocks
Templeton Global Growth Fund (TGC) has reported the portfolio of investments’ return as 22 per cent, net of fees, for the 2017 financial year, thanks to the fund’s portfolio being overweight in Europe and Asia and underweight US stocks.
According to its investment manager’s report, TGC’ holdings outperformed their peers in all the major regions, although almost 40 per cent of returns in the portfolio’s Eurozone domiciled stocks stood out against the 24 per cent average return for stocks.
“As always, our strategy at Templeton has been to buy undervalued stocks through patient, bottom-up investing founded on detailed fundamental analysis,” the report reads.
“This process has produced a portfolio that is regionally overweight in Europe and Asia and underweight US stocks.”
The portfolio of investments’ return, gross of fees, stood at 23.3 per cent, as compared to the MSCI All Country World Index of 15.3 per cent.
The company’s net tangible asset backing increased 15.6 per cent to $1.48 per share at June 30, 2017, after the payment of a 4.5 per cent share dividend to shareholders in September, 2016, it said.
According to the company’s dividend/distribution policy, the target dividend for the year ended June 30, 2018, will be 4.5 cps.
By sector, TCG’s portfolio is overweight financials, energy, health care, telecommunications, and underweight consumer discretionary and staples, technology, industrials, real estate and utilities.
AUTHOR
Oksana Patron
Recommended for you
A hiring spree is expected in private markets with 90 per cent of firms expecting to maintain or increase their headcount over the next 12 months, according to Preqin.
Abrdn Investments has hired a new global chief executive as Rene Buehlmann steps down after less than two years, it also announced a new senior leadership structure.
Having received bids from Bell Financial Group and AxiCorp, trading platform Selfwealth has confirmed it has entered into a scheme implementation deed after both parties were invited to make a higher bid.
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
