January 31 will mark the end of an era at Franklin Templeton [profile].

Joseph Mark Mobius Templeton Emerging Markets Group Outgoing Executive Chairman

Famed emerging markets PM Mark Mobius, age 81, will retire at the end of the month after more than 31 years with the company, Franklin chairman and CEO Greg Johnson confirms today. Mobius previously led the Templeton Emerging Markets Group from 1987 to 2016, when Stephen Dover succeeded Mobius as chief investment officer of TEMG. Since then Mobius has focused on being a spokesman for TEMG and has served as its executive chairman, and he has shifted away from day-to-day PMing and team management.

Stephen H. Dover Templeton Emerging Markets Group Chief Investment Officer

"There is no single individual who is more synonymous with emerging markets investing than Mark Mobius," Johnson states, calling Mobius "a legend."

TEMG now includes about 50 investment staff spread across 20 offices, working with more than $28 billion in AUM as of September 30, 2017.

"Over the last three decades, Mark has built a team of talented research analysts and portfolio managers around the world, and has generously shared his experiences with an audience that spans the globe," Johnson states. "We wish him all the very best in his future endeavors, as we do not expect retirement will slow him down very much."

As for Mobius' PM duties, Tom Wu will become the sole lead PM on the Templeton Frontier Markets Fund team. Wu already PMs the fund alongside Mobius and serves as deputy director of research and director of portfolio administration for TEMG. Ahmed Awny, David Haglund, and Carlos Hardenberg will continue to support Wu on the fund.

Mobius, who is based in Hong Kong, is an alumnus of both Boston University and MIT.

Dover, an alumnus of both Lewis and Clark College and UPenn's Wharton School, first joined Templeton in 1997 after working with Newell Associates and Towers Perrin. Prior to succeeding Mobius in 2016, Dover served as chief investment officer of Franklin Local Asset Management. He is based in Franklin's global headquarters in San Mateo, California. 

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