Mobius to raise £200m for emerging markets investment trust
Veteran emerging markets investor Mark Mobius is raising £200m for a new focused trust, four months after the launch of his asset management firm.
Mobius, who retired from Franklin Templeton in May before establishing Mobius Capital Partners, is looking to raise the money for Mobius Investment Trust through an Initial Public Offering (IPO) in October.
Read more: Lira and rand hold steady as currency sell-offs slow
Founding partners Mobius, Carlos von Hardenberg, and Greg Konieczny, and employees will also invest a total of £5.7m in the trust.
The trust, which will be made up of between 20 to 30 emerging market companies, will be chaired by Maria Luisa Cicognani.
Mobius said: "Emerging and frontier market companies provide a unique opportunity to enhance ESG performance.
"We will look to work with these firms to improve corporate governance, set out a broader ESG pathway and act as a catalyst for wider operational and financial improvements.
"We are delighted to make our innovative approach accessible to both institutional and retail investors via a London listed investment trust."
He added: “Over my 30-year investment career, I have learned that emerging markets swing between irrational exuberance and excessive pessimism.
"What matters most is a deep understanding of the fundamentals. The current market correction opens up many exciting opportunities.”
Read more: FTSE 100 trades at five-month low as emerging markets continue to fall