Tim Wishart, senior investment director, PSigma, Edinburgh
‘Templeton Emerging Markets is our top investment trust pick. We believe emerging markets are incredibly attractive at present but we remain conscious of the risks that remain.
‘Those include a slowing growth trajectory, withdrawal of capital as the developed world concludes its QE programme, and the risk of a hard landing in China. However, these risks are now largely factored into markets.
‘The Templeton Emerging Markets team has one of the most distinguished long-term track records in the asset class, and has been an excellent steward of our capital for a number of years.
‘The fund remains well diversified, both regionally and at a sector level, and also trades at an attractive discount of 9.5%, in excess of the 6.7% average during the past five years.
‘Finally, we are comforted by the size of the trust, just shy of $2 billion (£1.17 billion), providing us with ample liquidity to purchase and sell shares as we see fit.’