New Delhi, April 16 (IANS). Mark Mobius, a veteran and famous investor in the world of investing in emerging markets, died on Thursday at the age of 89. His demise has dealt a major blow to the global investment world.
Dr. Mobius was called the ‘Indiana Jones of Emerging Markets’ because he believed in visiting those countries himself and understanding the situation before investing. It was his on-ground research based strategy that made him different from others.
According to the official statement, Dr. Mobius is counted among the early investors in emerging markets. He discovered opportunities in markets that the world’s big investors often ignored.
Following his passing, leadership responsibilities at Mobius Investments will now be assumed by partners John Ninia and Eric Nguyen. The company has clarified that there will be no change in its investment strategy and day-to-day operations.
Dr. Mobius worked with Franklin Templeton Investments for more than 30 years and is recognized as Executive Chairman of Templeton Emerging Markets Group. In 1987 he was appointed by renowned investor Sir John Templeton to lead one of the world’s first emerging market funds.
Under his leadership, the company’s assets increased from $100 million to $50 billion. He launched several successful investment funds in Asia, Latin America, Africa and Eastern Europe.
Dr. Mobius also contributed to the formulation of global policies. He has been associated with the World Bank’s Global Corporate Governance Forum and co-chaired the Investor Responsibility Task Force in 1999.
He also had a strong base in the field of education. He received his PhD in Economics and Political Science from the Massachusetts Institute of Technology in 1964. Apart from this, he also studied at Boston University, University of Wisconsin, Syracuse University, Kyoto University and University of New Mexico.
–IANS
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