Industry commentators have described the departure of Carlos Hardenberg as manager of the £2.1bn Templeton Emerging Markets Investment Trust (TEMIT) as a "blow" for the investment company, with one trust analyst worried about the future of Franklin Templeton's emerging market business after a number of senior management changes, including the retirement of Mark Mobius.
Winterflood Securities said it is concerned about the department's direction as it appeared to be moving away from operating as a more independent arm, as it was under Mobius, to being more integrated within the wider group, and this could be related to Hardenberg's decision to leave. Simon Elliott, head of investment companies research, explained: "The Templeton Emerging Markets Group, formed by Mobius in 1987, always appeared to have some of the characteristics of a personal fiefdom within the wider group, retaining a high degree of autonomy. This started to change in 2016 with the ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
