Emerging markets guru Mark Mobius is being replaced as manager on a number of funds following the appointment of Stephen Dover as the Templeton Emerging Markets Group CIO in April last year.
The changes to the Sicav funds will be made on 3 April and 31 May. Mobius is currently lead manager of: Templeton Africa; Templeton Asian Smaller Companies; Templeton Emerging Markets Smaller Companies and Templeton Emerging Markets.
He is also co-lead manager of: Templeton Asian Growth; Templeton China; Templeton Shariah Asian Growth; Templeton BRIC; Templeton Eastern Europe; Templeton Emerging Markets Balanced; Templeton Frontier Markets and Templeton Latin America.
Mobius will take full control of the Templeton Asean fund and will continue to be involved in the TEMG investment process through research and company visits as well as engaging with clients. He will also remain as executive chairman of Templeton Emerging Markets Group.
Six directors will assume control of the portfolios, including: Chetan Sehgal, Carlos Hardenberg, Eddie Chow, Gustavo Stenzel, Greg Konieczny and Allan Lam. Portfolio Manager Eric Mok has been added to the pan-Asian strategies while Ahmed Awny and David Haglund have been added to the frontier strategy supporting lead manager Carlos Hardenberg.
Templeton Emerging Markets Group says the appointments are “part of the ongoing evolution of TEMG”.
The group adds: “These appointments align TEMG’s portfolio management teams across its fund offerings, recognize the investment leadership roles key individuals have been playing in their specific strategies and are aligned with our firm’s focus on developing the next generation of leaders.”