87-year-old Mark Mobius co-founded Mobius Investment Trust five years ago
Photo: Mobius Capital Partners
He is leaving the investment firm that bears his name Mark Mobius. The 87-year-old emerging markets veteran co-founded Mobius Investment Trust five years ago.
The London-based firm will be managed by Mobius Capital Partners, led by Carlos Hardenberg. The fund has $250 million in assets under management.
Long before the internet, when even a phone call to so-called Third World countries seemed difficult, he was taking the pulse of the most distant economies.
Mobius set up this investment firm in 2018 after retiring from Franklin Templeton Investments. His goal was to raise about $1 billion in funds under management over the next 2-3 years. The fund focused on emerging markets such as China, India and Latin America, as well as frontier markets.
“I am proud of the investment team's strong performance over the past five years,” its statement said. Mobius, according to Bloomberg.
Mobius was one of the “architects” of emerging markets, as he started investing in them in the 1980s, essentially creating an investment category that today reaches 25 trillion. dollars. Legendary investor John Templeton saw his expertise in markets that the typical American manager didn't even know about and asked him to create a fund that would invest in them.
Born in Hempstead, New York, to a German father and a Puerto Rican mother, Mobius said his mixed ancestry made him open to different cultures and allowed him to sniff out opportunities away from the US.
Based in Singapore, Mobius traveled 250 days a year in a Gulfstream IV private jet and visited factories and businesses in every corner of the globe, looking for the next big investment opportunity. Long before the Internet, when even a phone call to so-called Third World countries seemed difficult, this administrator took the pulse of the most distant economies, talking personally to ministers, businessmen, factory managers and ordinary people.
< p>Somehow he correctly predicted the bull market that started in 2009, bought cheap during the 1997 Asian Crisis and took advantage of the Russian default in 1998.
The adventures of the so-called “Indiana Jones of emerging markets” have been captured in his biography, where Mobius is presented as a hero taken from a Japanese manga comic.