Franklin Templeton to soft-close Mobius' Frontier Markets fund

Franklin Templeton is set to close Mark Mobius' $2bn Templeton Frontier Markets fund to new clients next month, Investment Week understands.

The group has acted to stem inflows into the fund, which has seen assets swell $1.98bn within its SICAV format as of 30 April. It is understood the fund will no longer be available to new investors as of 28 June, though existing clients will still be able to invest. Franklin Templeton said its emerging markets team does not see any capacity issues within frontier markets, but added the decision is the easiest way to manage the flows it is seeing into its portfolios. Launched in 2008, the fund is managed by Mobius (pictured) alongside portfolio manager Carlos Von Hardenberg, and in...