You may not, until now, have heard of Brilliance China Automotive Holdings, but Templeton Emerging Markets Investment Trust has. The oddly named manufacturer, which is a Chinese joint venture partner of BMW and Renault, was the trust’s star performer in the first half.
It took some profit in Brilliance “based on the strong performance over the period” and it remains one of the trust’s largest holdings, according to its most recent update.
The holding provides an illuminating starting point for weighing up the merits of the trust against other paths into risky but rapidly growing markets. There are two initial questions to ask. The first: should you be investing in more emerging markets? The second: is an actively managed investment trust the best way of