Navid J. Tofigh
About Navid J. Tofigh
Navid J. Tofigh (year of birth: 1972) serves as Vice President and Secretary of Templeton Emerging Markets Fund (EMF), having been a Fund officer since 2015 and Secretary since 2023. His principal occupation for at least the past five years is Senior Associate General Counsel at Franklin Templeton, and he serves as an officer for certain funds within the Franklin Templeton complex. Officers are appointed by the Trustees and serve at the pleasure of the Board.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Templeton Emerging Markets Fund (EMF) | Vice President and Secretary | Vice President since 2015; Secretary since 2023 | Corporate governance and fund administration responsibilities; signatory Secretary for proxy and meeting notices |
| Templeton Emerging Markets Fund (EMF) | Vice President and Assistant Secretary | Since 2015 | Legal administration support for Board and fund operations |
| Franklin Templeton | Senior Associate General Counsel | At least past 5 years | Fund complex legal leadership; supports governance and regulatory disclosures across funds |
| Franklin Templeton ETF Trust | Attorney-in-Fact; Vice President and Secretary | 2020 (registration signing as Attorney-in-Fact); officer since 2015 | Executed SEC registration filings and maintained governance documentation for multiple investment companies |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | Proxy statements and SAI list only Franklin Templeton roles and fund officer positions; no external directorships disclosed for Tofigh |
Fixed Compensation
| Item | EMF Disclosure | Notes |
|---|---|---|
| Fund-paid officer compensation | Not paid by EMF | “The Investment Manager or its affiliates pay the salaries and expenses of the officers and the Interested Trustees.” |
| Salary, target bonus, actual bonus | Not disclosed at EMF level | EMF does not report officer cash compensation; officers may receive indirect remuneration via Investment Manager fees; specifics not filed in EMF proxy |
| Pension/retirement benefits (Fund expense) | No pension or retirement benefits accrued as Fund expenses | EMF affirms no pension/retirement accruals as Fund expenses |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed at EMF level | — | — | — | — | — |
| Note | EMF proxy does not provide performance-linked incentive structures for officers; salaries/expenses paid by Investment Manager (Franklin Templeton affiliates). |
Equity Ownership & Alignment
- Officer beneficial ownership (EMF): Not disclosed for officers; proxy provides dollar ranges of equity holdings only for Trustees, not officers.
- Pledging/hedging by officers: No disclosures specific to officers in EMF proxy.
- Ownership guidelines: Board members follow a formal policy requiring investing a portion of fees into Templeton funds until a multiple threshold is met; this policy is for Trustees, not officers.
Employment Terms
| Term | Disclosure | Detail |
|---|---|---|
| Appointment and tenure | Officers appointed by Trustees and serve at the pleasure of the Board | Tofigh is Vice President since 2015 and Secretary since 2023 |
| Contract term length/expiration | Not disclosed | No employment contract terms are included in EMF proxy filings |
| Severance and change-of-control provisions | Not disclosed | No officer-level severance or CoC economics disclosed by EMF |
| Non-compete / non-solicit / garden leave | Not disclosed | No such provisions disclosed for officers in EMF proxy |
| Secretary responsibilities and authority | Disclosed through “By Order of the Board” signatory on meeting and governance notices | Tofigh signs official notices and governance exhibits as Vice President and Secretary (or Assistant Secretary) |
Investment Implications
- Pay-for-performance analysis is not feasible at the EMF level due to the structure: officer salaries and expenses are paid by the Investment Manager, and EMF does not disclose officer cash/equity incentives, severance, or performance metrics. This limits visibility into personal compensation alignment or vesting-related selling pressure for Tofigh from EMF filings.
- Alignment via equity ownership and pledging cannot be assessed for Tofigh at EMF because officer holdings are not disclosed; trustee ownership ranges and investment requirements do not apply to officers. This reduces actionable insider alignment signals from EMF proxy data.
- Retention risk appears low based on long tenure and continuous legal/governance roles across Franklin Templeton funds since at least 2015, with expanded responsibilities as Secretary since 2023; however, the absence of contract/severance detail in EMF filings prevents a quantitative retention analysis.
- Trading signals tied to executive compensation (e.g., option vesting cliffs, PSUs/RSUs settlements, pledging) are not available at EMF; portfolio managers and board governance influence fund outcomes, but officer compensation mechanics sit with the Investment Manager and are not transparent in EMF filings.
Reference confirmations across Franklin Templeton fund complex SAIs also list Tofigh’s role consistently as Vice President and Secretary, with principal occupation as Senior Associate General Counsel.