Mark Mobius (pictured) will step down from his portfolio management roles of the Templeton Dragon Fund and the Templeton Emerging Markets Fund, effective 3 April 2017.
Eddie Chow, director of China strategy for Templeton Emerging Markets Group (TEMG) and currently co-lead portfolio manager for Templeton Dragon Fund, will become sole lead portfolio manager for the fund. Mobius will remain as executive chairman for TEMG, providing investment ideas and research for the group.
Chetan Sehgal, director of global emerging markets/small cap strategies for TEMG, will assume the role of lead portfolio manager for Templeton Emerging Markets Fund.
Sehgal will replace the current four co-lead portfolio managers, Mobius, Allan Lam, director of Asia strategy, Dennis Lim, emerging markets strategist, and Tom Wu, deputy director of research.
While they will relinquish their portfolio management roles on the fund, Lam and Wu will continue in their current roles with TEMG. Lim will retire from the firm.
Franklin Templeton Investments said these changes are part of a series of portfolio manager assignments that seek to align TEMG’s portfolio management teams across its fund offerings and recognise the investment leadership roles key individuals have been playing in their specific strategies.
Directors who will become lead or sole lead portfolio managers for their respective strategies:
• Chetan Sehgal, Director of Global Emerging Markets and Small Cap Strategies, will be named lead portfolio manager on various Global Emerging Markets and Small Cap strategies.
• Carlos Hardenberg, Director of Frontier Market Strategy, will become sole lead portfolio manager on Frontier Market strategies for non-US-registered funds. He will also be added as co-lead or portfolio manager on various Global Emerging Markets strategies and as lead portfolio manager on the Africa strategy.
• Eddie Chow, Director of China Strategy, on the China strategies.
• Gustavo Stenzel, Director of Latin America Strategy, on the Latin America strategy.
• Greg Konieczny, Director of Specialty Strategies, on the Eastern Europe strategy.
• Allan Lam, Director of Asia Strategy, will remain lead portfolio manager on the pan-Asian strategies.
Portfolio managers who will be added as listed portfolio managers on various funds to correspond with their respective areas of focus:
• Eric Mok will be added as portfolio manager on pan-Asian strategies, with Allan Lam remaining as lead portfolio manager.
• Ahmed Awny and David Haglund will be added to the frontier strategy, with Carlos Hardenberg remaining as lead portfolio manager.
FTI had over $738bn (€684.3bn) in assets under management as of 28 February 2017.