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Mobius steps back from Templeton EM funds

Mobius steps back from Templeton EM funds

Mark Mobius is to relinquish listed manager status on several of Templeton Emerging Markets Group's (TEMG) funds amid a reshuffle of portfolio duties aimed at developing the "next generation of leaders".

Mr Mobius will step back as a listed manager from a number of vehicles, including the Templeton Africa, Asian Growth, Asian Smaller Companies and China funds.

However he will take sole responsibility for the group's Asean fund, currently co-managed with Dennis Lim. Mr Mobius will also remain as executive chairman of the organisation and contribute to its investment process.

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The shift in responsibilities comes as part of a broader reshuffle following the appointment of Stephen Dover as group chief investment officer last year.

As part of the changes on the Luxembourg-domiciled fund range, which are due to come into effect over the coming months, director of global emerging markets and small cap strategies Chetan Sehgal will be named lead manager on the Asian Smaller Companies and Emerging Markets Smaller Companies funds.

Carlos Hardenberg, director of frontier market strategy, becomes sole manager of the Africa fund, as well as joining the several emerging markets-focused products.

Others including Eric Mok, Ahmed Awny and David Haglund have been added as listed managers among the range.

In a statement the group said: "These appointments align TEMG’s portfolio management teams across its fund offerings, recognise the investment leadership roles key individuals have been playing in their specific strategies and are aligned with our firm’s focus on developing the next generation of leaders."

Fund NameCurrent management teamNew management team
Templeton Africa FundMark MobiusCarlos Hardenberg
Templeton ASEAN FundMark Mobius (Co-Lead)Mark Mobius
 Dennis Lim (Co-Lead)
Templeton Asian Growth FundAllan Lam (Co-Lead)Allan Lam (Lead)
 Mark Mobius (Co-Lead)Eric Mok
Templeton Asian Smaller Companies FundMark MobiusChetan Sehgal
Templeton China FundEddie Chow (Co-Lead)Eddie Chow
 Mark Mobius (Co-Lead)
Templeton Emerging Markets Smaller Companies FundMark Mobius (Lead)Chetan Sehgal
 Dennis Lim
 Tom Wu
Templeton Shariah Asian Growth FundAllan Lam (Co-Lead)Allan Lam (Lead)
 Mark Mobius (Co-Lead)Erik Mok
Templeton BRIC FundDennis Lim (Co-Lead)Chetan Sehgal (Co-Lead)
 Mark Mobius (Co-Lead)Carlos Hardenberg (Co-Lead)
Templeton Eastern Europe FundGrzegorz Konieczny (Co-Lead)Grzegorz Konieczny
 Mark Mobius (Co-Lead)
Templeton Emerging Markets Balanced FundMark Mobius (Co-Lead)Chetan Sehgal (Co-Lead)
 Michael Hasenstab (Co-Lead)Michael Hasenstab (Co-Lead)
 Laura BurakreisLaura Burakreis
  Carlos Hardenberg
Templeton Emerging Markets FundMark Mobius (Lead)Carlos Hardenberg (Co-Lead)
 Dennis LimChetan Sehgal (Co-Lead)
 Tom Wu 
Templeton Frontier Markets FundCarlos Hardenberg (Co-Lead)Carlos Hardenberg (Lead)
 Mark Mobius (Co-Lead)Ahmed Awny
  David Haglund
Templeton Latin America FundGustavo Stenzel (Co-Lead)Gustavo Stenzel
 Mark Mobius (Co-Lead)