Franklin Templeton announces Mobius replacements


Franklin Templeton has announced Carlos Hardenberg and Chetan Sehgal will become co-lead managers of the Templeton Global Emerging Markets fund, replacing Mark Mobius.

The move is effective from the end of April.

Mobius will remain executive chairman of Templeton Emerging Markets Group, and will continue to be involved in its investment process, through research efforts and company visits, sharing investment ideas and client and media engagement.

The £25m fund has returned 42.2 per cent over one year compared to its benchmark, the MSCI Emerging Markets index, which delivered 35.2 per cent over the period.

Hardenberg discounts in emerging markets equities relative to developed markets are among the most elevated levels the team has ever seen.

“While we are mindful of potential volatility caused by increases in US interest rates, uncertainty about the trend of global trade relationships and currency moves we remain optimistic that recent performance is an indication of future growth.”

Hardenberg says the factors that supported the return of emerging markets in 2016 appear to remain in place for 2017.

“Many of the factors that originally attracted investors to the asset class including stronger earnings growth, higher economic growth and robust consumer trends are coming back into play leading to a resurgence in investor confidence.

The Templeton Global Emerging Markets fund is a sub-fund of Franklin Templeton Funds (FTF), a UK-domiciled Oeic range.