Mark Mobius, Emerging Markets Investing Pioneer, Dies

Hired in 1987 by John Templeton, Mobius launched one of the first mutual funds dedicated to rapidly developing new markets. He led the Templeton Emerging Markets Group until 2016 and served as lead manager of its flagship Templeton Emerging Markets Investment Trust until 2015, retiring from the firm in January 2018.

From 1989 until his retirement, the closed-end fund achieved an average annual return of 13.4%, according to Morningstar Direct. Furthermore, from 2001, when the MSCI Emerging Markets Index was introduced, the Templeton fund consistently outperformed this benchmark by an average of 1.9% annually, as reported by Morningstar.

Peter Douglas, a principal at the Singapore chapter of the Chartered Alternative Investment Analyst Association, recognized Mobius as "the icon of the industry and has been the global cheerleader of emerging markets."