Templeton Global Growth Fund Limited (ASX:TGG) General Manager, Mat Sund and Portfolio Manager, Peter Wilmshurst, present on the company's FY18 results and provide a portfolio update.
* Net tangible assets increased from $1.48 per share to $1.56
* Share price increased from $1.36 to $1.42
* Total shareholder return 9.6% for the 12 months
* Ordinary dividend 4.5 cents per share, fully franked
* Special dividend 3.5 cents per share, fully franked
* On-market share buyback
-- 4,895,108 shares purchased during the year
-- Average purchase price was $1.39 per share
-- Average discount to NTA was approximately 10%
* Management expense ratio (MER)
-- MER has increased slightly from 1.16% to 1.29% for the year
-- Still represents one of the lowest MER’s for a global equity LIC in the Australian market
* Investsment performance
-- TGG has returned 12.6% for the past 12 months (11.1% net of fees and expenses), compared to the MSCI AC World Index of 15.0%
For more, watch the General Manager, Mat Sund and Portfolio Manager, Peter Wilmshurst, present.