Mobius Capital co-founder Mark Mobius to step back from firm

investmentweek.co.uk:

Mark Mobius (pictured), co-founder of Mobius Capital is stepping back from the partnership.

In an stock exchange notice today (10 November), the Mobius Investment Trust said Mobius Capital will continue to be the investment manager, with fellow co-founder Carlos Hardenberg leading the firm and continuing on in his role as the trust's fund manager.

Hardenberg and Mobius have run the trust since its inception and launched Mobius Capital together in 2018. Prior to launching MCP, Mobius worked at Franklin Templeton Investments for more than 30 years, most recently as executive chair of the Templeton Emerging Markets Group.

In a statement, Mobius said he was «proud of the investment team's strong performance during the last five years which proves that a concentrated and differentiated portfolio of high-quality stocks can generate exceptional returns».

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«As a shareholder of the MMIT, I will be following the company's progress closely and will continue to be available to the team and the board,» he said.

Hardenberg said: «Our journey over the past five years has been marked by progress, and we are genuinely grateful for the results we have achieved. We would like to extend our heartfelt gratitude to Mark for his exceptional contributions to emerging market investing over his long career and more recently to MCP and MMIT over the last five years.»

«Mark's dedication has been instrumental to our success. As we look forward to the future, I intend to promote our most talented employees to the role of partners. This is to acknowledge their strong performance and commitment to MCP,» he added. 

The board's chair Maria Luisa Cicognani echoed Hardenberg's sentiment,