Mark Mobius, the seasoned investor renowned for his expertise in emerging markets, is planning to step back from the investment firm that bears his name, which he co-founded five years ago.

Share Market Live

NSE

"It’s been an incredible journey at @MobiusCap , where I witnessed its growth and success, going forward I will be shifting my focus and dedicating more time to exciting new projects in #Dubai, centered around #entrepreneurship investments and consulting. I also have two new books coming out soon so stay tuned for more updates!" Mobius tweeted on X.

The London-based Mobius Investment Trust will continue to be overseen by Mobius Capital Partners LLP, led by Founding Partner Carlos Hardenberg, as confirmed by a statement from the trust on Friday. As of February, the fund managed $250 million in assets.

Mark Mobius, aged 87, established his investment management firm in 2018 following his retirement from Franklin Templeton Investments, with the ambitious goal of raising approximately $1 billion within two to three years. The fund's primary focus was on developing regions, including China, India, Latin America, and frontier markets.

Also read:

Mark Mobius believes Sensex will touch 100,000 in next 5 years despite corrections | Exclusive

Mobius has a long and distinguished career as one of the pioneers of the emerging-market asset class, which originated in the 1980s and has since evolved into a $25 trillion opportunity. His expertise in navigating markets less familiar to typical US investors led John Templeton to invite him to establish a fund for investments in these countries.

With decades of experience in emerging markets, Mobius is well-known for his prescient calls. He accurately predicted the commencement of the bull market in 2009, seized opportunities during the Asian financial crisis that followed Thailand's currency floatation in 1997, and invested in Russian stocks during the panic selling of 1998.

Mobius was also among the first institutional investors to recognize Africa as a promising frontier market, establishing the Templeton Africa Fund in 2012. In 2021, he forecasted a "50-year rally" in Indian stocks. Mobius often attributes his openness to different cultures and his ability to identify unique opportunities to his mixed-race background – his father was German, and his mother was Puerto Rican.

Born in Hempstead, New York, Mobius grew up on Long Island, speaking German and Spanish at home. In 1955, he earned a scholarship to study at Boston University and worked as a pianist at a nightclub to help cover his tuition expenses. Mobius graduated with a bachelor's degree in fine arts, followed by a master's in communications, before completing a doctorate in economics at the Massachusetts Institute of Technology.

Also read: Mark Mobius says India is the place to be when it comes to Emerging Market investing: Exclusive

(Edited by : Amrita)

First Published:Nov 13, 2023 11:12 AM IST