Templeton's Mark Mobius, photographed during a visit to Toronto on Oct. 24, 2011. (Photo by Peter Power/The Globe and Mail)The Globe and Mail
Canadian investors are losing access to a pioneer of emerging markets investing, as Mark Mobius hands off control of Franklin Templeton's suite of funds.
Mr. Mobius has specialized in developing markets at Franklin Templeton for 30 years, having established the firm's emerging market group in 1987. Over the last couple of years, his succession plan has seen him step back from a management role.
While no longer a fund manager for most of the group's portfolio, Mr. Mobius will stay on as executive chairman, Franklin Templeton said in a statement.
"He will continue to be involved in our investment process, participating in our research efforts and company visits, sharing investment ideas and advising the team on our investment process, and engaging with clients and media to share his insights."
The Canadian mandates that will be affected include the Templeton Emerging Markets Fund, the Templeton Asian Growth Fund, and the Templeton Frontier Markets Fund.
Tim Shufelt