Emerging markets veteran Mark Mobius has retired from fund management after more than 30 years with Franklin Templeton.
In doing so, Mobius steps down from his role as executive chairman of the Templeton Emerging Markets Group. He will formally retire on January 31.
Franklin Templeton has made several steps to plan for Mobius’s departure, which includes several portfolio manager changes over the past year as part of its succession planning.
In March 2017, Mobius stepped off of six funds, and the only US-domiciled fund he still managed was the $111.4 million Templeton Frontier Markets fund alongside Tom Wu ,who will continue to manage the fund.
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.
'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,' said Dover.
Mobius joined Franklin Templeton in 1987 when he was 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.
'There is no single individual who is more synonymous with emerging markets investing than Mark Mobius,' said Greg Johnson, chairman and chief executive of Franklin Templeton.
Mobius added: '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.'