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
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 billion) fund traded in London and New Zealand, has selected Carlos Hardenberg to take over from Oct 1, it said in a filing. Mr Mobius, 78, will support Mr Hardenberg as a portfolio manager and remain chairman of the Templeton Emerging Markets Group, which oversees US$39 billion in assets, it said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea