After more than 30 years with Franklin Templeton Investments, emerging markets fund manager Mark Mobius has announced his plans to retire from the company on Jan. 31, San Mateo, Calif.-based Franklin Resources, Inc. said Friday.
Mobius oversaw Templeton's emerging markets team from 1987 to 2016, working in emerging markets all over the world.
He has received numerous investment awards including the Lifetime Achievement Award from Global Investor Magazine in 2017.
"There is no single individual who is more synonymous with emerging markets investing than Mark Mobius. My colleagues and I are deeply grateful to have had the opportunity to work alongside a legend, and we thank Mark for his many years of dedicated service and tremendous contributions to the firm," says Greg Johnson, chairman and CEO, Franklin Resources, in a statement.
"Over the last three decades, Mark has built a team of talented research analysts and portfolio managers around the world, and has generously shared his experiences with an audience that spans the globe," Johnson adds.
Over the past several years, Franklin Templeton has evolved its emerging markets equity investment team structure, and succession planning for Templeton Emerging Markets Group (TEMG) has been a key component in that process, the firm says in its announcement.
In early 2016, Stephen Dover was named chief investment officer of TEMG. Mobius transitioned the day-to-day management of the group to Dover and day-to-day management of the funds to other senior members of TEMG.
"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," says Dover. "We do not expect Mark's retirement to cause any disruption to our clients, and TEMG's time-tested philosophy and disciplined approach will remain the same."
According to Franklin Templeton, TEMG has approximately 50 experienced investment professionals in 20 offices and over US$28 billion in assets under management as of Sept. 30, 2017.
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