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Managed Fund Since 2017
Equity
TDMTX Templeton Developing Markets Trust
- Emerging Markets Exposure. The fund's investment mix is designed to take advantage of dynamic emerging market growth opportunities as they arise across the globe.
- Record of Low Correlation. Stock markets in emerging market countries are uniquely positioned in terms of industry strengths and economic drivers. This has contributed to a record of low correlation among these countries.
- Unsurpassed Global Resources. Our global reach includes offices in Hong Kong, Buenos Aires, Bucharest, Shanghai, Singapore, Mumbai, Cape Town and Dubai.
Popular Documents
Total Net Assets
$2.15B
As of 01/31/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks long-term capital appreciation by investing at least 80% of its net assets in securities of developing- or emerging market issuers.
- Benchmark
- MSCI Emerging Markets Index-NR
- Fund Inception Date
- 10/16/1991
- Dividend Frequency, if any
- Annually, in October, if necessary, December
- Number of Issuers
As of 01/31/2026 (Updated Monthly) - 87
Identifiers
- Ticker
- TDMTX
- Fund Number
- 791
- CUSIP Code
- 88018W203
Average Annual Total Returns As of 01/31/2026
Class C
- 56.22%1 Year
- 20.13%3 Years
- 5.72%5 Years
- 11.26%10 Years
- 5.89%Since Inception
05/01/1995
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 01/31/2026 % of Total (Updated Monthly)
Semiconductors & Semiconductor Equipment24.24% | |
Banks14.55% | |
Technology Hardware & Equipment9.57% | |
Capital Goods6.85% | |
Consumer Discretionary Distribution & Retail6.67% |
Additional Fund Info
- Share Class Inception Date
- 05/01/1995
- Investment Style
- Blend
- Lipper Classification
- Emerging Markets Funds
- Morningstar Category
7 - Diversified Emerging Markets
Manager and Commentary
Commentary Highlights
12/31/2025- Markets: Emerging market (EM) equities collectively rose in the final quarter of 2025. The US Federal Reserve implemented its final interest-rate reduction for the year in December, after an October rate cut, creating a favorable environment for equities globally.
- Contributors: By country, stock selection and allocations in South Korea (overweight) and China (underweight) contributed relatively alongside a lack of exposure to Saudi Arabia. Across sectors, stock selection in information technology, health care and consumer discretionary, together with an overweight allocation in information technology, sent these sectors to top contributor status against the benchmark MSCI EM Index-NR.
- Detractors: Stock selection in India, Taiwan and Mexico sent these countries to top detractor status against the benchmark. Stock selection in the financials and utilities sectors pressured relative returns, with an underweight allocation to materials adding to this relative weakness.
- Outlook: We leave a strong year behind, with EM equities collectively racing ahead of developed market equities in 2025. While a repeat of such remarkable performance may be too optimistic, we believe the outlook for EM equities in 2026 remains constructive. This outlook is underpinned by several supportive themes that continue to drive earnings momentum across the asset class.
Templeton Global Investments
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Managed Fund Since 2020
Performance
Average Annual Total Returns
As of 01/31/2026
Selected Month January 2026
Class C - With Sales Charge (POP) (%)
Month End
As of 01/31/2026
Class C - Without Sales Charge (NAV) (%)
Month End
As of 01/31/2026
MSCI Emerging Markets Index-NR (%)
Month End
As of 01/31/2026
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 3
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Portfolio
Assets
As of01/31/2026 (Updated Monthly)
- Total Net Assets
- $2.15 Billion
Positions
As of 01/31/2026 (Updated Monthly)
Number of Issuers
- Fund
- 87
- Benchmark
- 1,196
Portfolio Statistics
As of 01/31/2026 (Updated Monthly)
Price to Earnings (12-Month Trailing)
- Fund
- 15.78x
- Benchmark
- 17.07x
- Fund
- $345.65 Billion
- Benchmark
- $230.67 Billion
- Fund
- 2.27x
- Benchmark
- 2.35x
- Fund
- 8.86x
- Benchmark
- 10.77x
Asset Allocation
As of 01/31/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 97.01% |
Cash & Cash Equivalents | 2.99% |
Holdings
As of 12/31/2025 (Updated Monthly)
Taiwan Semiconductor Manufacturing Co Ltd ORD TWD10
SK hynix Inc ORD KRW5000
Samsung Electronics Co Ltd ORD KRW 100
Prosus NV ORD EUR 0.05 CL N
ICICI Bank Ltd ORD INR2 (DEMAT)
Alibaba Group Holding Ltd ORD HKD 0.000003125
Franklin Institutional U.S. Government Money Market Fund OEMF-SWEEP MONEY MARKET PORTFOLIO
Tencent Holdings Ltd ORD HKD 0.000020
MediaTek Inc ORD TWD10
Grupo Financiero Banorte SAB de CV ORD MXN3.5
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
- Distribution Frequency
- Annually, in October, if necessary, DecemberThis fund is an ex-Dividend fund
- Capital Gain Distributions
- October, December
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
12/19/2025
09/30/2025
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Templeton Developing Markets Trust | |||
| Product Commentary - Templeton Developing Markets Trust |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Templeton Developing Markets Trust - Class C | |||
| Annual Financial Statements and Other Information - Templeton Developing Markets Trust | |||
| Semi-Annual Report - Templeton Developing Markets Trust - Class C | |||
| Semi-Annual Financial Statements and Other Information - Templeton Developing Markets Trust | |||
| Prospectus - Templeton Developing Markets Trust | |||
| Summary Prospectus - Templeton Developing Markets Trust | |||
| Statement of Additional Information - Templeton Developing Markets Trust | |||
| Fiscal Q1 Holdings - Templeton Developing Markets Trust | |||
| Fiscal Q3 Holdings - Templeton Developing Markets Trust |
Risks
All investments involve risks, including possible loss of principal. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. The managers’ environmental, social and governance (ESG) strategies may limit the types and number of investments available and, as a result, may forgo favorable market opportunities or underperform strategies that are not subject to such criteria. There is no guarantee that the strategy's ESG directives will be successful or will result in better performance. These and other risks are discussed in the fund’s prospectus.
Important Information
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
The MSCI Emerging Markets Index is a market capitalization-weighted index that is designed to measure equity market performance in the global emerging markets.
MSCI Emerging Markets Index-NR reflects the performance of MSCI Emerging Markets Index (gross returns) from fund inception through 12/31/2000 and the MSCI Emerging Markets Index-NR thereafter
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.
Net Returns (NR) include income net of tax withholding when dividends are paid.