Annual Overview from QuotedData
Temple Bar - Annual Overview from QuotedData
22nd October 2024
Historic Opportunity
Over the past three years, the Temple Bar Investment Trust (TMPL) has delivered a share price total return of 40%, comfortably outperforming both its benchmark index and the wider UK equity income peer group.
Impressively, the company is also well ahead of high-flying US indices over this period, highlighting the attractions of investing in the UK, despite the economic challenges experienced over the last few years. These returns provide further vindication of the managers' strategy of investing in companies which trade at deep discounts to their intrinsic value. We believe there has arguably never been a better time to capitalise on these opportunities.
Despite the recent returns, the TMPL portfolio remains attractively priced at around 8x 2024 earnings, around a 35% discount to the UK market and less than a third of current US multiples. There remains significant upside as economic conditions become more favourable and sentiment in the UK continues to improve.
Full Research:
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NB: Marten & Co was paid to produce this note on Temple Bar Investment Trust Plc, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
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