Franklin Templeton Investments said Friday that Mark Mobius, executive chairman of its emerging markets group, will retire on Jan. 31 after three decades with the firm.
The fund giant hired him in 1987 to launch one of the first mutual funds focused on emerging markets, and he led this group through 2016.
“There is no single individual who is more synonymous with emerging markets investing than Mark Mobius,” said Franklin Templeton Chairman and CEO Greg Johnson, in a statement. ”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.”
Templeton’s emerging markets group includes about 50 investment professionals in 20 offices and over $28 billion in assets under management as of Sept. 30. Overall, the fund firm had more than $753 billion in assets under management as of Nov. 30.
What Your Peers Are Reading
“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,” Mobius explained in a statement. “I leave with great confidence in the Templeton Emerging Markets team and leadership at Franklin Templeton.”
As part of Mobius’ succession plan, Stephen Dover, CFA was named chief investment officer of the emerging markets team in 2016. Mobius’ main role since that shift has been serving as a spokesman for the group.
“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 Dover in a statement.