Templeton Emerging Markets Investment Trust (TEMIT) (LSE: TEM) (SEDOL 0882929, ISIN GB0008829292) is the UK's largest global emerging markets investment trust, capitalised at £1.8 billion, and is a constituent of the FTSE 250 Index.

It aims to find stocks that are cheaper than their "real value" and is not limited by market trends, country or industry sector.

Since its launch on 12 June 1989, to 30 June 2010 the trust has produced Sterling annualised returns of 15.0% vs. 11.4% from its benchmark, the MSCI Emerging Markets Index.

The investment management is conducted by the UK subsidiary of Franklin Templeton Investments, Franklin Templeton Investment Management Limited under Dr. Mark Mobius.

The general policy of the trust is to be fully invested and although the trust is primarily a vehicle for capital growth, the board's policy is to have a relatively full distribution of the company's revenues.

Source: Wikipedia