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LONDON (Alliance News) - Templeton Emerging Markets Investment Trust PLC on Wednesday said it outperformed its benchmark in its most recently ended financial year despite a moderate decline in net asset value.
The investment company said its NAV per share stood at 842.5 pence as at March 31, down 0.6% from 846.0p reported a year earlier.
NAV total return for the year to the end of March was 1.8%, while its benchmark, the MSCI Emerging Markets Index, returned 0.1%.
Share price total return was 6.0% for the financial year, with shares trading at 766.0p on March 31. Average share price discount to NAV over the year was 12%, broadly flat year-on-year.
The stock was trading 0.6% higher on Wednesday midday at 757.35p a share.
Total income earned in the year was GBP59.7 million, slightly lower than GBP60.5 million a year prior.
Templeton Emerging increased its annual payout to 16.00 pence a share, having paid a dividend of 15.00p last year.
Looking forward, the company said its NAV and share price have experienced a "substantial" recovery following the volatility seen in late 2018.