Mark Mobius, former lead manager of Templeton Emerging Markets Investment Trust (TEM), is relinquishing management of a number of other funds he runs, but this should not make a big difference to investors. And Mr Mobius is still executive chairman and key spokesperson for Templeton Emerging Markets Group.
Mr Mobius' name will be removed from 12 funds by the end of May 2017, including Templeton Asian Growth (LU0768360355) and Templeton Emerging Markets (LU0195951610). But he had in effect already handed over responsibility for these funds.
"The reality is that Mobius has not been involved in the day-to-day management of these strategies for quite some time," said Germaine Share, analyst at Morningstar. "In most cases, the newly named portfolio managers have in fact been doing the heavy-lifting for their respective strategies for a long time."