- Templeton Emerging Markets Investment Trust said it posted a positive performance in the first half of its financial year that beat its benchmark.

The company's net asset value total return for the six months through September was 6.3%.

The MSCI Emerging Markets Index returned 2.2% over the same time period.

The company kept its interim dividend steady at 5p per share and also declared a special dividend of 2.6p per share.

'Given the current political background, equity markets are likely to remain volatile,' chairman Paul Manduca said.

'It is, however, important to recognise that many of the countries in which TEMIT invests are generating a good level of economic growth and higher rates of growth than developed markets.'

'Economic growth does not necessarily lead directly to investment returns and this is why our investment manager maintains a large team which is focused on analysing the prospects of individual companies.'

'As a board, we remain of the view that effective stock picking is the key to success in our investment mandate, and that our investment manager is well equipped to deliver positive returns.'

At 2:54pm: [LON:TEM] Templeton Emerging Markets Investment Trust Plc share price was +3.5p at 791.5p

Story provided by