Mobius plans threaten to lure Temit assets
Mark Mobius has already poached ex-colleagues from Franklin Templeton Investors, now a closed-ended launch could swipe flows from his former employer
Mark Mobius has already poached ex-colleagues from Franklin Templeton Investors, now a closed-ended launch could swipe flows from his former employer
Franklin Templeton Investments has denied its emerging markets investment trust faces further turnover on top of the exit of star fund manager Mark Mobius and his protégé Carlos Hardenberg earlier this year.
Mark Mobius’s planned responsible emerging markets fund will not seek companies that score high on environmental, social and governance (ESG) metrics, instead looking for companies with relatively poor ESG practices and work directly with the management on improving them.
Mark Mobius has formally confirmed former Franklin Templeton colleagues Carlos Hardenberg and Greg Konieczny as founding partners in his eponymous boutique firm, as details of the planned emerging and frontier markets fund are revealed.
Emerging markets guru Mark Mobius has nabbed former Franklin Templeton colleagues Carlos Hardenberg, who recently exited as lead portfolio manager on the Templeton Emerging Markets Investment Trust, and Greg Konieczny to help launch his asset management boutique.
The JP Morgan Emerging Markets Investment Trust has been touted as a stable alternative to Templeton Emerging Markets Investment Trust, where careful succession planning following Mark Mobius’s retirement was thrown into disarray with the sudden departure of his replacement Carlos Hardenberg earlier this year.
Templeton Emerging Markets Investment Trust’s incoming lead manager has described Mark Mobius as his mentor and said he will never view him as a competitor, despite the legendary emerging markets investor establishing a rival fund following his retirement from Franklin Templeton.
Mark Mobius is reportedly starting his own fund management firm and has also joined the investment committee of Mumbai-based venture capital firm Equanimity Investments, according to local media reports in India.
Carlos Hardenberg, lead manager for the Templeton Emerging Markets Investment Trust (TEMIT), has resigned but will remain as portfolio manager until 31 March 2018.
Franklin Templeton has appointed Manraj Sekhon as chief investment officer (CIO) of emerging market equity, effective from 19 February.
Whenever a fund manager has a prolonged period of success in their area, certain terms get bandied about as to their status within that field. One favourite used by journalists is ‘guru’, indicating a manager has moved on from ordinary status, to the extraordinary.
Emerging markets pioneer Mark Mobius will be stepping down as executive chairman of the Templeton Emerging Markets Group (TEMG) and formally retire from Franklin Templeton on 31 January.