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
Add BT as a preferred source
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.
TRENDING NOW
DBS COO’s most important tip for AI transformation: Lead with ‘why’
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
