Emerging market investment guru Mark Mobius is reportedly making a return to fund management with a new firm focused on emerging and frontier market companies focused on environmental, social and governance (ESG) issues.
The former CEO of Templeton Emerging Markets Group (TEMG) had announced his retirement in January after 30 years at the firm.
However, in an interview with Indian website Live Mint today, 81-year-old Mobius (pictured) said: ‘There is no plan to retire, I am starting a fund management company, and we are now applying for licences in London and Luxembourg. So, that’s coming down the road.
‘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 environment and social.’
The news comes after Citywire Investment Trust Insider suggested at the start of this month that Mobius could make a return to fund management. This followed the shock resignation of Carlos Hardenberg as manager of its flagship Templeton Emerging Markets fund on 1 February.
Hardenberg had worked at Franklin Templeton for 16 years and overseen a strong recovery in the trust’s performance since replacing Mobius as the trust’s lead manager less than two years ago.
IT Insider speculated that Hardenberg had quit Franklin Templeton to set up a new business with Mobius.
Franklin Templeton declined to comment, other than to say Hardenberg was leaving to pursue other opportunities.