05 Jan Emerging Markets Report: Emerging-markets guru Mark Mobius retiring from Franklin Templeton
Mark Mobius, who became synonymous with emerging-markets investing over a career spanning more than four decades is set to retire at the end of the month, Franklin Templeton Investments announced Friday.
“There is no single individual who is more synonymous with emerging markets investing than Mark Mobius,” said Franklin Templeton Investments BEN, +0.18% Chairman and Chief Executive Greg Johnson, in a news release.
Mobius is often credited with helping to popularize emerging markets over the course of his career.
In a 2012, MarketWatch’s Jonathan Burton described Mobius as “a pioneer investor in emerging markets, builder of the BRICs, and an early believer in the power of globalization and the potential for developing Asia, Latin America, the Middle East and Africa, as well as Russia, to compete on the world stage.” BRICs typically refers to the economies of Brazil, Russia, India, and China.
Mobius, 81, joined Franklin Templeton in 1987 as president of the Templeton Emerging Markets Fund Inc. and oversaw Templeton’s emerging-markets team from 1987 to 2016.
Stephen Dover was named chief investment officer of Templeton Emerging Markets Group in 2016, where he began to take over day-to-day management of group, the firm said. At the same time, Mobius began to transition day-to-day management of the funds to other senior members of TEMG.
“I leave with great confidence in the Templeton Emerging Markets team and leadership at Franklin Templeton,” Mobius said.