Emerging markets guru Mark Mobius has announced a stunning return to fund management, just weeks after retiring from Franklin Templeton after 30 years with the fund group.
Mobius told a media briefing in Mumbai that 'there is no plan to retire' and revealed his plans for an open-ended fund investing in emerging and frontier markets with and focused on environmental, social and governance (ESG) issues, according to Indian business news website Livemint.
'The fund [will invest in] not only companies that are great in ESG, but also those that have the potential to improve their governance, and environmental and social [efforts],' he said.
Mobius' quick return to fund management will come as a surprise given the 81-year-old's retirement as executive chairman of the Templeton Emerging Markets Group at the end of January, after a lengthy transition process.
It could also lend credence to the theory that Carlos Hardenberg, the manager who replaced Mobius at the helm of the Templeton Emerging Markets (TEM) investment trust in 2015 and announced his resignation just a day after his mentor's retirement, may be positioning to rejoin him.
At the time, Franklin Templeton would not comment on the reasons behind Hardenberg's departure, other than that he was leaving to pursue other opportunities.