LONDON (ShareCast) - Templeton Emerging Markets Investment Trust saw its net asset value (NAV) per share increase during the first half of the year due to a fast rate growth in the emerging markets economies.
The group's NAV increased by 8.2% during the period while cash rose significantly from £24.4m to £127.9m.

However, the NAV declined in September by 5% due to political tensions around the world creating investment uncertainties.

Chairman Peter Smith said: "As investors adjust to continuing difficulties in parts of the world and to the eventual end of quantitative easing, your board and investment manager believe that a focused portfolio of emerging markets companies which are fundamentally strong and growing and that are undervalued by stock markets should serve shareholders well."

The investment company said weaker than expected retail sales and industrial production from China as well as lower commodity prices and speculative flows into US dollar assets brought volatility in the emerging markets.

Shares in Templeton were up 2.34% to 576.66p at 15:10 on Friday.

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