Templeton Instl Emerging Markets Ser AdvTEEMX

Morningstar Rating

Fund Research and Analysis

by Karin Anderson

Despite tantalizing gains, investors should pass on Templeton Institutional Emerging Markets.

Managers Mark Mobius, Dennis Lim, and Tom Wu lead the portfolio construction efforts here, and they are supported by a large squad of analysts located in several emerging-markets countries. Read more

Kudos

Disciplined strategy.

Mark Mobius is one of the most experienced emerging-markets managers around. Read more

Risks

Can lag by a huge margin during growth rallies.

Rather expensive relative to institutional share-class rivals.

Templeton currently runs more than $30 billion in emerging-markets assets--quite a hefty amount considering liquidity can be an issue. Read more

Strategy

Mark Mobius, Tom Wu, and Dennis Lim are buy-and-hold investors who focus on firms that appear cheap relative to their assets or relative to their long-term earnings. They are willing to make significant sector and country bets at times and to hold hundreds of issues. Read more

Management

Lead manager Mark Mobius is a veteran of emerging-markets investing. He has been running this fund since 1993 and has run a similar closed-end fund, Templeton Emerging Markets EMF, since 1987. Mobius is supported by comanagers Tom Wu and Dennis Lim and a large analyst staff that is spread across the globe. Read more

Inside Scoop

This value-oriented fund is sold to institutions; its $1 million initial investment makes it out of reach for most individuals. The fund's virtually identical twin, Templeton Developing Markets, has a much lower minimum, but that fund's expense ratio is higher than its asset base should allow. Read more

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