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Mobius stepping down as chief of Templeton fund

Hardenberg to take over from Oct 1; Mobius to stay as chairman of Templeton Emerging Markets Group

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The Templeton Emerging Markets Investment Trust delivered outsized gains in the early years after Mr Mobius established it in 1989, but its recent performance has slipped.

New York

MARK Mobius, who is credited as a pioneer in emerging-market investing, will step down as the lead manager of one of the oldest developing-nation stock funds after trailing his benchmarks in recent years.

The Templeton Emerging Markets Investment Trust, a £1.9 billion (S$4