We are currently experiencing intermittent difficulty during Premium user registration. We appreciate your patience as we investigate.

Templeton Emerging Markets manager Mark Mobius steps down

Morningstar Canada 21 March, 2017 | 5:00PM
Facebook Twitter LinkedIn

Mark Mobius, who has managed emerging-markets assets since joining the Templeton organization in 1987, is stepping down as a portfolio manager, effective April 3.

The oldest and largest affected fund for Canadian investors is the $312-million Templeton Emerging Markets, which Mobius has managed since its inception in September 1991. Taking over as lead manager of the fund, which has a 3-star Morningstar Rating, is Chetan Sehgal, CFA, director of global emerging markets and small-cap strategies for Templeton Emerging Markets Group (TEMG). Added as a portfolio manager is Carlos Hardenberg, director of frontier-markets strategy for TEMG. The manager changes also affect Templeton Emerging Markets Corporate Class.

Mobius will remain executive chairman for TEMG, contributing investment ideas and research for the group, Toronto-based Franklin Templeton Investments Corp. said in a release today.

Mobius's withdrawal also affects two other Canadian-domiciled mandates in the Franklin Templeton family. Allan Lam, director of Asian strategy for TEMG, currently co-lead manager of Templeton Asian Growth and Templeton Asian Growth Corporate Class, will become lead manager. Joining the fund as a portfolio manager is Eric Mok.

The lead manager of Templeton Frontier Markets and Templeton Frontier Markets Corporate Class will be Hardenberg, who is currently co-lead manager with Mobius. TEMG portfolio managers David Haglund and Ahmed Awny will continue in their current roles as portfolio managers for the frontier-markets mandate.

Facebook Twitter LinkedIn

About Author

Morningstar Canada

Morningstar Canada  

© Copyright 2023 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy