Templeton Global Growth is banking on a return to more normal monetary conditions to improve returns and close the gap between the share price of the listed investment company and the value of its assets. It is also looking to appease disgruntled shareholders, including Wilson Asset Management.

Peter Wilmshurst, portfolio manager in Templeton's global equity group, said the past 10 years, characterised by ultra-low interest rates and bond yields, had been an unusual period for sharemarkets and had benefited a narrow range of equities, such as real estate, utilities and consumer staples.