Emerging Market Pioneer Mark Mobius of Franklin Templeton Investments to Retire -- Update

Emerging markets guru Mark Mobius, who has spent more than three decades with Franklin Templeton Investments, will retire from the global investment-management firm at the end of the month.

Franklin Templeton said Friday that Mr. Mobius, executive chairman of Templeton Emerging Markets Group, joined the firm to launch one of the first mutual funds dedicated to emerging markets.

"There is no single individual who is more synonymous with emerging markets investing than Mark Mobius," said Greg Johnson, Franklin Resources Inc. chairman and chief executive, in prepared remarks. Franklin Resources operates as Franklin Templeton Investments.

Mr. Mobius, who has worked in emerging markets for more than 40 years, managed Templeton's emerging markets team from 1987 to 2016. Templeton Emerging Markets Group had more than $28 billion in assets under management as of Sept. 30.

In early 2016, Mr. Mobius moved the management of the markets team to Stephen Dover, who was named chief investment officer of the group. Recently, Mr. Mobius has served as an external spokesperson for the group and often shared his views on emerging market investments.

Mr. Mobius last year received the Lifetime Achievement Award from Global Investor Magazine. He is a member of the Economic Advisory Board of the International Finance Corp., a member of the World Bank Group. He is also the author of several books, including "Trading with China," "The Investor's Guide to Emerging Markets," and "Mobius on Emerging Markets.

San Mateo, Calif.-based Franklin Resources had more than $753 billion in assets under management as of Nov. 30.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

January 05, 2018 13:52 ET (18:52 GMT)