Veteran emerging markets investor Mark Mobius died on 15 April at the age of 89 in Singapore.
Often referred to as the ‘father’ of emerging markets investing, Mobius was one of the earliest investors in the asset class and was known for travelling around the region to gain first-hand experience of the markets he invested in, the statement read.
He spent much of his career at Franklin Templeton, helming the Templeton Emerging Markets Investment Trust (TEMIT). He left in 2018 and he co-founded his eponymous fund house Mobius Capital Management, before officially retiring in 2023.
A statement from the firm said: “We are deeply saddened to learn of the passing of Mark Mobius. Mark was not only one of the founders of MCP but also a cherished mentor, partner and source of inspiration to all of us.
“His influence on the emerging markets investment landscape was extraordinary and his vision helped shape both our firm and the industry more broadly.”
Mobius Investments partners John Ninia and Eric Nguyen will take over leadership responsibilities at the firm.
Others also paid tribute to the former star manager after his passing. Jenny Johnson, chief executive of Franklin Templeton, said: “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.
“But for those of us lucky enough to know him personally, Mark was so much more than his incredible accomplishments. He was generous with his time, thoughtful with his advice and genuinely fascinated by people and cultures everywhere he went.”
James Carthew, head of investment company research at QuotedData, said Mobius had been the face of emerging markets investing for decades and his “enthusiasm for the asset class, even in the face of the dramatic sell-off in the late ‘90s and the many twists and turns since, was infectious”.