Loser: Templeton BRIC Fund
The lead manager of the Templeton BRIC Fund (TABRX) is Mark Mobius, a well-known emerging-market investor with 30 years of experience under his belt. He spends much of his time traversing the globe, speaking with members of many of the companies he invests in.
Unfortunately, all that deep research has been of little help this year. The emerging-market BRIC nations — Brazil, Russia, India and China — have crapped out for all investors, including Mobius.
While Mobius often says investing in emerging markets is for those who have a long-term perspective, the long-term hasn’t been all that great for TABRX, either, which has lost nearly 9% on average in the past five years.
Current top holdings include India’s Infosys (INFY), China Mobile (CHL) and Brazilian mining firm Vale (VALE). A shares charge a high 2% in expenses, and also are subject to a maximum initial sales charge of 5.75%.