Mark Mobius, the industry-renowned fund manager, has announced that he will launch a new frontier markets fund.
At a recent press conference held in Mumbai, Mobius announced that he would be spearheading an all new fund management company that will specialize in investing in companies in frontier and emerging financial markets
Mobius’ new fund frontier market management fund will stress an operational and working focus on environmental, social and governance issues.
“I am starting a fund management company, and we are now applying for licenses in London and Luxembourg. So, that’s coming down the road,” said Mobius.
Mobius also said that the frontier market fund be open-ended and long-only.
“The fund (will invest in) not only companies that are great in ESG, but also those that have the potential to improve their governance, and environment and social,” added Mobius.
Mobius also remarked about India’s emerging market status in reference to new technological innovations. After the recent financial trading market correction Mobius named India as a great financial market trading bet.
“You look at the growth here, you look at the reforms here, there is a good opportunity for change,” Mobius said.
Mobius made his fund announcement in Mumbai as he was also taking part in another business venture that would be based in the city.
Mobius will be investor of a new Mumbai-based venture capital fund, Equanimity Investments.
Co-managed by Rajesh Sehgal, the VC fund will operate as a sector-agnostic capital fund.
Its operational focus will be on using technology to maintain scalability and sustainability in their prospective business models.
Frontier markets
The 81-year-old Mobius recently made headlines when he announced his retirement from Franklin Templeton Investments after three decades with the firm.
Mobius is an respected investment authority who made his name in recognizing and monetizing financial opportunities in frontier markets such as Africa, Asia, parts of Eastern Europe and in South America.
After being hired by Franklin Templeton Investments in the mid-1980s, Mobius’s reputation was damaged by heavy losses in the stock market crash of October 1987.
Mobius professionally rebounded by diversifying financial holdings from several Asian countries into emerging financial markets in Argentina, Indonesia, Mexico and Russia.
Franklin Templeton Investments in January announced Mobius’s effective retirement date and his official last day working for the firm was Jan. 31.
“There is no single individual who is more synonymous with emerging-markets investing than Mark Mobius,” Franklin Templeton Investments Chairman and C.E.O. Greg Johnson said.
Although his professional tenure at Franklin Templeton Investments is at an end, “there is no plan to retire,” Mobius said.
The countries in which Mobius’s new frontier market fund will operate from have yet to be announced.
