Templeton Frontier Markets Fund
Data updated: 2020-02-28
C000069590 — Templeton Frontier Markets Fund. Europe Blend / Core Equity · $34.57M AUM · 2.76% expense ratio. Holdings, fees, performance and SEC filings.
C000069590 Fund Overview
Templeton Frontier Markets Fund is a US mutual fund managed by Templeton Global Investment Trust, categorised as Europe Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Templeton Global Investment Trust
- Category: Europe Blend / Core Equity
- Assets under management: $34.57M
- SEC CIK: 0000916488
- SEC series ID: S000023627
- Share class ID: C000069590
C000069590 Investment Objective and Strategy
Templeton Frontier Markets Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Templeton Global Investment Trust.
Investment objective
Long-term capital appreciation.
Principal investment strategy
"Under normal market conditions, the Fund invests at least 80% of its net assets in securities of companies located in ""frontier market countries."" The Fund deems the following to be ""frontier market countries:"" Central and Eastern Europe: Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Hungary, Latvia, Lithuania, Macedonia, Montenegro, Romania, Serbia, Slovakia, Slovenia, Turkey, Ukraine Africa: Botswana, Cote d'Ivoire, Ghana, Kenya, Malawi, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Senegal, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe Middle East : Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Tunisia, United Arab Emirates Asia-Pacific region : Azerbaijan, Bangladesh, Cambodia, Indonesia, Kazakhstan, Mongolia, Pakistan, Philippines, Sri Lanka, Thailand, Turkmenistan, Vietnam Central and South America : Argentina, Chile, Colombia, Ecuador, Jamaica, Panama, Paraguay, Peru, Trinidad & Tobago, Uruguay, Venezuela The Fund may deem other countries to be frontier markets either currently or in the future.
In general, frontier market countries are a sub-set of those currently considered to be developing by the World Bank, the International Finance Corporation, the United Nations, or the countries' authorities, or countries with a stock market capitalization of less than 3% of the MSCI World Index. These countries typically are located in the Asia-Pacific region, Central and Eastern Europe, the Middle East, Central and South America, and Africa. The Fund invests primarily in the equity securities of frontier market companies. The equity securities in which the Fund invests are principally common stock and related depositary receipts and participatory notes. The Fund may invest in the equity securities of companies of any size. Because frontier market companies tend to be considered small and micro-cap, the Fund's investments in equity securities consist principally of those of small and micro-cap companies.
Participatory notes are equity access products structured as debt obligations that are issued or backed by banks and broker-dealers and designed to replicate equity market exposure in markets where direct investment is either impossible or difficult due to local investment restrictions. Generally, the Fund does not concentrate (i.e., invest more than 25% of its net assets) in the securities of companies in any particular industry, except that the Fund may invest between 25% and 35% of its net assets in securities of any industry if, at the time of investment, that industry represents 20% or more of the Fund's current primary benchmark index. The Fund's current primary benchmark index is the MSCI Frontier Markets Index. As of the date of this Prospectus, the banking industry constituted a significant portion of the Fund's benchmark index and the Fund also had significant investments in that industry.
When choosing equity investments for the Fund, the investment manager applies a fundamental research, value-oriented, long-term approach, focusing on the market price of a company's securities relative to the investment manager's evaluation of the company's long-term earnings, asset value and cash flow potential. The investment manager also considers a company's profit and loss outlook, balance sheet strength, cash flow trends and asset value in relation to the current price of the company's securities. The investment manager may consider selling an equity security when it believes the security has become overvalued due to either its price appreciation or changes in the company's fundamentals, or when the investment manager believes another security is a more attractive investment opportunity."
C000069590 Holdings
Top 10 holdings of Templeton Frontier Markets Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| National Bank Of Kuwait Sakp Ord Kwd.1 | 6.37% |
| Bancolombia SA Sponsored Dpp | 4.15% |
| Bdo Unibank, Inc. Ord Php10 | 3.93% |
| Human Soft Holding Co. Ksc Ord Kwd.1 | 3.22% |
| Metropolitan Bank & Trust Co. Ord Php20 | 3.21% |
| Binh Minh Plastics Jsc Ord Vnd10000 | 3.19% |
| Kcb Group Ltd. Ord Kes1 | 3.17% |
| Banco Davivienda SA Pfd Cop170 | 3.15% |
| Robinsons Retail Holdings, Inc. Ord Php1 | 3.07% |
| International Container Terminal Services, Inc. Ord Php1 | 3.07% |
C000069590 Portfolio Allocation
Asset-class allocation of Templeton Frontier Markets Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 102.3% |
C000069590 Costs and Fees
C000069590 costs about $276 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.76%
- Gross expense ratio: 3.08%
- Portfolio turnover: 49%
- Brokerage commissions: 46.74 bps of average net assets (SEC N-CEN)
C000069590 Cashflows
Over the 12 months to 2019-12, Templeton Frontier Markets Fund had net outflows of $25.15M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2019-12 | −$3.90M |
| 2019-11 | −$4.27M |
| 2019-10 | −$1.93M |
| 2019-09 | −$3.08M |
| 2019-08 | −$7.87M |
| 2019-07 | −$4.09M |
C000069590 Debt Constituents
No individual debt constituents are reported in Templeton Frontier Markets Fund's latest SEC N-PORT filing.
C000069590 Prospectus and SEC Filings
Official Templeton Frontier Markets Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Europe Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.