Veteran emerging markets investor Mark Mobius plans to launch a UK-listed investment trust next month on the premium segment of the London Stock Exchange main market.
Mobius Investment Trust (MMIT) will invest in small- and mid-cap companies in emerging and frontier markets with an absolute return focus. The trust will target companies with resilient business models, and the potential for operations and environmental, social and governance improvements. Its managers will take a highly active ownership approach with investee companies.
"We are adopting an innovative and specialised strategy built around actively partnering with our portfolio companies," said Mr Mobius. "The recent correction across emerging and frontier markets has presented the perfect conditions in which to launch Mobius Investment Trust, with currencies at an all-time low and company valuations looking increasingly attractive."
This will be the first investment trust launched by Mobius Capital Partners, which Mr Mobius founded with emerging markets specialists Carlos Hardenberg and Greg Konieczny in May. They also plan to launch a Luxembourg domiciled open-ended fund.
All three previously worked at Franklin Templeton. Mr Mobius spent over 30 years at the company during which time he ran funds totalling over $50bn (£38.63bn) in assets, including Templeton Emerging Markets Investment Trust (TEM).
Mr Hardenberg ran Templeton Frontier Markets Fund (LU0768359852) for a decade and Templeton Emerging Markets Investment Trust between October 2015 and March 2018.
Mr Konieczny ran Fondul Proprietatea (FP.), an investment trust that focuses on Romania.
Mr Mobius left Franklin Templeton in January, and Mr Konieczny and Mr Hardenberg quit Franklin Templeton soon after.
