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Mark Mobius to pass on his responsibilities

He will step down as Templeton emerging markets head; Stephen Dover to become CIO

Mr Mobius has struggled in recent years as poorly timed investments in commodity and mining companies have led to losses.

New York

MARK Mobius, a money-management icon who popularised emerging-markets investing, will pass on his responsibilities of overseeing the Templeton Emerging Markets Group to Stephen Dover as he steps down from day-to-day management.

Mr Dover will become chief investment officer

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