Market guru Mark Mobius hands over the reins of his company. But it is not the first time.
Mark Mobius is thinking of easing into retirement after 40 years in the investment business, according to an announcement. One of the pioneers in emerging market investments indeed appears to be stepping back from his management roles at Mobius Capital.
Planned Succession
The 87-year-old is leaving his company in safe hands, as it will be headed by Carlos Hardenberg, who founded Mobius Capital together with Mobius himself in 2018 after working with him for more than 20 years. The company will continue to manage the Mobius Investment Trust.
Before starting his own company, Mobius worked for more than 30 years at the US-based fund management company Franklin Templeton Investments. In 1987, he created one of the first specialized emerging market funds. It subsequently became one of the most dominant in the market. Under his management, Franklin Templeton went from managing about $100 million in emerging assets to roughly $40 billion.
1990s Peak
When he left Franklin Templeton, many assumed he would retire. But then he returned with a venture of his own.
He made a name for himself in the 1990s when he was astute about timing the Russian currency and Asian credit crises. Moreover, it was a period when he achieved buoyant returns with many of his funds. More recently, he had made a name for himself as an active market commentator although he was also a deep critic of digital assets, particularly during last year's crypto-winter.
