Templeton trust 'fails' to answer shareholder criticisms

The activist investment firm which publicly criticised the Templeton emerging markets investment trust last year for repeatedly trading shares at a discount to the value of the assets, has said the trust's preliminary response to shareholders lacks detail and fails to answer its concerns.

The trust has approximately £1.6bn (€2.4bn) in assets under management and is managed by Mark Mobius, who has led the Templeton emerging markets team for over 17 years.

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