However, the firm said, he will remain executive chairman of TEMG and will retain his portfolio management responsibilities and continue to stay involved as a member the team.
Mobius’ role will be taken on by Stephen Dover, CIO of Franklin Local Asset Management, the firm said in a statement on Tuesday, while stressing that both teams will retain their distinct and separate investment process and discipline.
According to the firm the organizational change comes in support of the firm’s “ongoing focus on succession planning and leadership development, and is aligned with the company’s interest in increasing formal collaboration within our investment teams (and in this case the emerging markets equity teams)”.
It will also allow Mobius to take up an expanded role as “a thought leader for the group, sharing his macro perspective on investment opportunities across emerging markets with clients globally,” the firm said.
