On 1 October 2025, Martin Currie aligned under ClearBridge Investments and the distribution of all Australian Pooled Funds moved to Franklin Templeton

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Emerging Markets Strategy

A high-conviction Strategy that focuses on identifying quality emerging market companies with robust balance sheets and growth potential.

 

Through bottom-up research, a collaborative team approach, and disciplined risk management, it seeks to outperform the MSCI Emerging Markets Index, building a focused, long-term portfolio aligned with sustainability and stewardship.

Why Invest in the Emerging Markets Strategy

Key benefits of this Strategy include:

Capture long-term growth by accessing economies undergoing rapid transformation driven by rising consumer demand, urbanisation, digital adoption, and favourable demographics.

The Strategy focuses on company fundamentals over macro factors to create a highly differentiated, stock-driven portfolio with a focus on long-term outcomes.

The team is exclusively dedicated to this Strategy, ensuring deep expertise, clear alignment, and no competing priorities.

Stewardship and sustainability directly impact value creation in Emerging Markets. Active engagement with portfolio holdings and prospective companies is key to driving better outcomes.

Portfolio Management Team

The Emerging Markets Strategy is managed by an experienced investment team comprising of the following members:

The Portfolio Management Team is employed by ClearBridge Investment Management Limited.

Aimee Truesdale, CFA

Aimee Truesdale, CFA

Portfolio Manager
Alastair Reynolds, ASIP

Alastair Reynolds, ASIP

Portfolio Manager
Andrew Mathewson, CFA

Andrew Mathewson, CFA

Portfolio Manager
Paul Sloane, ASIP

Paul Sloane, ASIP

Portfolio Manager
Colin Dishington, CFA

Colin Dishington, CFA

Portfolio Manager
Paul Desoisa, CFA

Paul Desoisa, CFA

Portfolio Manager
Divya Mathur, ASIP

Divya Mathur, ASIP

Portfolio Manager

What Makes Us Different

The team’s deep experience and collaborative culture encourage open challenge and thoughtful debate, which fosters deeper insights and more informed decision-making. Every member shares responsibility for both research and portfolio management, ensuring a diversity of perspectives.

Fundamental bottom-up research is essential to uncover high-quality companies with strong balance sheets and scalable growth potential. ESG factors are fully integrated into the research process, helping to develop a deeper understanding of the companies within the portfolio.

The Strategy is built on the belief that Emerging Markets often present persistent inefficiencies, where companies’ long-term value-creation potential is mispriced. A long-term investment horizon enables the identification of these opportunities.

Key Portfolio Information

Growth of AUD $10,000

31 August 2025

As at 31 August 2025

Performance 1 Month 3 Months 1 Year 3 Years 5 Years Inception2
ClearBridge Global Emerging Markets1 -0.2% 5.9% 18.4% 9.7% 4.9% 7.0%
MSCI Emerging Markets -0.2% 8.0% 22.0% 13.1% 8.3% 6.7%
Excess Returns 0.0% -2.1% -3.6% -3.4% -3.4% 0.3%

As at 31 August 2025

  • Emerging Markets Strategy
  • MSCI Emerging Markets

As at 31 August 2025

Top 10 Positions Sector Portfolio
Weight %		 Benchmark
Weight %		 Active
Weight %
Taiwan Semiconductor Manufacturing Co Ltd Information Technology 14.8% 10.3% 4.4%
Tencent Holdings Ltd Communication Services 9.3% 5.4% 3.9%
Samsung Electronis Co Ltd Information Technology 5.1% 2.6% 2.4%
HDFC Bank Ltd Financials 4.4% 1.3% 3.0%
ICICI Bank Ltd Financials 3.5% 0.9% 2.5%
SK Hynix Inc Information Technology 3.1% 1.2% 1.9%
China Merchants Bank Co Ltd Financials 2.4% 0.3% 2.1%
Titan Co Ltd Consumer Discretionary 2.3% 0.2% 2.2%
Apollo Hospitals Enterprise Ltd Health Care 2.3% 0.1% 2.2%
Capitec Bank Holdings Ltd Financials 2.0% 0.2% 1.8%
Objective Long-Term Growth
Asset Class Listed Equities
Style All-cap core
Investable Universe Emerging Markets
Benchmark MSCI Emerging Markets Index
Market capitalisation All-Cap
Sector/country allocations As a result of stock selection–managed within factor risk analysis
Security limit Benchmark +5%
Number of stocks 40-60
Portfolio turnover Low - expected turnover
Forecast tracking error Maximum of 8% per annum
Inception October 2010

Investing in the Emerging Markets Strategy

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Franklin Templeton Australia Limited is the Responsible Entity and distributor for all ClearBridge managed Funds in Australia. To explore and access these Funds, you will be redirected to the Franklin Templeton website.

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Disclaimer

This information is provided on the basis that you are a wholesale investor in Australia. Any distribution of materials or products in Australia is by Franklin Templeton Australia Limited (FTAL).

FTAL (ABN 76 004 835 849) is part of Franklin Resources, Inc., and holds an Australian Financial Services Licence (AFSL No. 240827) issued pursuant to the Corporations Act 2001 (Cth). ClearBridge Investment Management Limited ("CIML") has entered into an intermediary arrangement with FTAL to facilitate the provision of financial services by CIML to wholesale investors in Australia. CIML is operationally integrated under the “ClearBridge Investments” global brand, alongside ClearBridge Investments, LLC (“CBI”), and other ClearBridge entities indirectly, wholly owned by Franklin Resources, Inc.

The information on this website does not constitute an offer of, or an invitation to apply for securities in any jurisdiction where such an offer or invitation is unlawful, or in which the person making such an offer is not qualified to do so.

Past performance is not a reliable indicator of future performance. The return may increase or decrease as a result of currency fluctuations.

The views expressed are opinions of the portfolio managers and are subject to change based on market and other conditions and may differ from other portfolio managers or of the firm as a whole. These opinions are not intended to be a forecast of future events, research, a guarantee of future results or investment advice.

Some of the information provided has been compiled using data from a representative account. This account has been chosen on the basis it is an existing account managed by the investment team of this strategy. Representative accounts for each strategy have been chosen on the basis that they are the longest running account for the strategy. This data has been provided as an illustration only, the figures should not be relied upon as an indication of future performance. The data provided for this account may be different to other accounts following the same strategy. The information should not be considered as comprehensive and additional information and disclosure should be sought.

The information provided should not be considered a recommendation to purchase or sell any particular strategy / fund / security. It should not be assumed that any of the securities discussed here were or will prove to be profitable. It is not known whether the stocks mentioned will feature in any future portfolios managed by the investment team. Any stock examples will represent a small part of a portfolio and are used purely to demonstrate our investment style.

The analysis of Environmental, Social and Governance (ESG) factors forms an important part of the investment process and helps inform investment decisions. The strategy/ies do not necessarily target particular sustainability outcomes.

Performance
1 Data presented is the ClearBridge Emerging Markets composite in AUD, gross of fees. Periods over a year are annualised. The composite consists of actively managed emerging markets portfolios made up of segregated and pooled accounts. The portfolios in the composite have objectives to outperform the MSCI Emerging Markets Index (gross income) over rolling three-to-five year periods.
2 Composite inception date: 1 October 2010.

ClearBridge Investment Management Limited claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organisation, nor does it warrant the accuracy or quality of the content contained herein. To receive a complete list and description of composites and/or a presentation that adheres to the GIPS standards, please contact us.

Country & Sector Breakdowns, and Top 10 Stocks
Data shown for the ClearBridge Emerging Markets representative account. Index: MSCI Emerging Markets.

The information provided should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any of the security transactions discussed here were, or will prove to be, profitable. References to particular industries, sectors or companies are for general information and are not necessarily indicative of the Strategy's holding at any one time.

Risk Warnings – Investors should also be aware of the following risk factors which may be applicable to the Strategy:

  • Investing in foreign markets introduces a risk where adverse movements in currency exchange rates could result in a decrease in the value of your investment.
  • Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries. Accordingly, investment in emerging markets is generally characterised by higher levels of risk than investment in fully developed markets.
  • This Strategy may hold a limited number of investments. If one of these investments falls in value this can have a greater impact on the Strategy’s value than if it held a larger number of investments.
  • Smaller companies may be riskier and their shares may be less liquid than larger companies, meaning that their share price may be more volatile.
  • Strategy may invest in derivatives, Index futures and FX forwards to obtain, increase or reduce exposure to underlying assets. The use of derivatives may result in greater fluctuations of returns due to the value of the derivative not moving in line with the underlying asset. Certain types of derivatives can be difficult to purchase or sell in certain market conditions.