Veteran investor Mark Mobius dies at 89
Renowned fund manager was a pioneer in emerging market investing
Mark Mobius, a pioneer of investing in emerging markets and a longstanding fund manager at US firm Franklin Templeton, has died aged 89.
Mobius was “widely regarded” for being an early investor in developing economies and became known for travelling extensively to gain first-hand insights into countries “overlooked by global investors”, according to a statement on his LinkedIn page, which announced his death.
The renowned investor made his name at Franklin Templeton where he worked for more than three decades after joining in 1987, and where he launched one of the industry’s first funds to focus on emerging markets.
He led the flagship Templeton Emerging Markets investment trust until 2015, expanding it from $100mn of assets under management to $40bn during his tenure, before leaving the company in early 2018.
Mobius, who was widely recognised for his trademark closely shaved head, was also known for being plain speaking, once calling Donald Trump “as dumb as a fox” in an interview with the FT in 2018.
He said in his biography: “I’d put in enough time on commercial flights to earn myself a number of frequent-flyer first-class flights to the moon.
“I’d toured rubber plantations in Thailand and road-tested bikes over the pothole-ridden roads of rural China.
“I’d choked on roasted camel’s meat, sheep’s eyeball, guinea pig and dined (surprisingly well) on scorpions on toast . . . All to find ‘undervalued companies’ before other investors do.”
Jenny Johnson, chief executive of Franklin Templeton, said: “Mark wasn’t just the father of emerging markets. To my family and me, he was a dear friend.
“Mark opened the world’s eyes to emerging markets and inspired generations of investors to think more globally, more boldly and with greater imagination about what’s possible. He changed how we invest and how we see opportunity across the world.”
She added: “His impact will continue for generations to come.”
The legendary investor surprised the market when he established Mobius Capital Partners shortly after leaving Franklin Templeton, with former colleagues Carlos Hardenberg and Greg Konieczny.
He said at the time: “I don’t want to retire.” Mobius stepped back from running the trust in 2023.
Mobius Capital Partners’ flagship investment trust, which has £110mn in assets, has reported a 78 per cent increase in net asset value since launching in October 2018, according to its latest factsheet.