Emerging market investor Mark Mobius is retiring from Franklin Templeton after a career spanning more than 30 years.
Mobius is one of the most recognized names within the emerging market investment industry and first joined Templeton back in 1987.
He is set to retire from the company on January 31, subsequently stepping down from his role as chairman of the Templeton Emerging Markets Group (TEMG) and the remaining funds he is assigned to.
Mobius’s retirement had been in the works since early 2016 after it was announced Stephen Dover was taking over from Mobius as head of emerging market equity at the firm.
Further steps were taken in March 2017 when he stepped down from number of funds as part of Templeton’s succession plans.
Mobius remained as a key figure within the Templeton Emerging Markets Group. He was involved in the group’s investment processes and participated in research efforts and company visits.
He also served as an external spokesman for the group, sharing macro economic views on emerging markets.
Commenting on his retirement, Dover said: 'Mark was instrumental in building the very experienced bench of investment talent within our emerging markets team, and he is leaving the various emerging markets funds and strategies launched under his leadership in very capable hands,’ said Stephen Dover, chief investment officer of TEMG.
‘We do not expect Mark’s retirement to cause any disruption to our clients, and Templeton Emerging Market Group’s time-tested philosophy and disciplined approach will remain the same.’
Mobius was intially hired by Sir John Templeton as president of the Templeton Emerging Markets fund.
Mobius oversaw the emerging markets equity group from 1987 to 2016. At the end of September 2017, the group had 50 members and over $28 billion assets under management.
Mobius commented: 'I feel very fortunate to have spent most of my career at Franklin Templeton Investments. I have had the great privilege of working with an emerging markets team that includes some of the most talented and passionate people in the business, a number of whom have been with me for decades.
'I leave with great confidence in the Templeton Emerging Markets team and leadership at Franklin Templeton.'