Mark Mobius has stepped back from his role as lead manager of the Templeton Emerging Markets investment trust after 26 years, to be replaced by Carlos Hardenberg.
Mobius (pictured) has been the lead portfolio manager on TEMIT since its launch in June 1989, but will be replaced by longtime colleague Hardenberg on 1 October. Mobius will remain a portfolio manager on the team, the trust said in a statement. Hardenberg is an existing member of the Templeton Emerging Markets group, which supports Mobius, having joined the firm since 2002. He is also director of frontier markets strategy, and will relocate to London as a result of the change. His enhanced role on TEMIT will also be supported by Chetan Sehgal, director of the small cap strategy,...
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