Winterflood issues warning over Franklin Templeton EM business following TEMIT management changes

Follows Hardenberg departure

Jayna Rana
clock • 3 min read

Industry commentators have described the departure of Carlos Hardenberg as manager of the £2.1bn Templeton Emerging Markets Investment Trust (TEMIT) as a "blow" for the investment company, with one trust analyst worried about the future of Franklin Templeton's emerging market business after a number of senior management changes, including the retirement of Mark Mobius.

Winterflood Securities said it is concerned about the department's direction as it appeared to be moving away from operating as a more independent arm, as it was under Mobius, to being more integrated within the wider group, and this could be related to Hardenberg's decision to leave. Simon Elliott, head of investment companies research, explained: "The Templeton Emerging Markets Group, formed by Mobius in 1987, always appeared to have some of the characteristics of a personal fiefdom within the wider group, retaining a high degree of autonomy. This started to change in 2016 with the ...

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