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Mobius recruits former Neptune Indian equity PM

Mobius recruits former Neptune Indian equity PM

Former Neptune Investment Management portfolio manager Kunal Desai (pictured) is joining Mark Mobius' fund firm, Mobius Capital Partners, to work on the launch of an emerging markets fund.

The ex-Indian equity manager announced his departure from Neptune in May after nearly eight years with the group.

He is now joining Mark Mobius’ new fund firm, which was set up earlier this year after the emerging markets pioneer stepped down from his role as executive chairman on the Templeton Emerging Markets Group and left Franklin Templeton after more than 30 years with the group.

In August, Indian equity manager Kunal Desai is set to join the group to help in the launch of an open-ended Sicav, which is still pending approval by Luxembourg regulators. It has been announced the fund will be capped at $1 billion, holding a maximum of 30 ideas.

In his new role as a senior investment analyst, Desai will be responsible for all emerging and frontier markets. 

There are plans underway to make more hires, adding to the existing management team to reach a total of 10 investment professionals.

After Desai's departure from Neptune, the group took the decision that Citywire A-rated Latin America fund manager Tom Smith would take on the Indian equity fund in his place and was promoted to co-head of emerging markets alongside AA-rated Ewan Thompson, who manages the Neptune China and emerging markets fund.

Desai had run the India fund since the end of 2012, achieving an AAA rating by mid-2016.

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