Veteran emerging market investor Mark Mobius is planning to raise $1bn (£730m) to set up an asset management firm in London.
According to The Times, the 81-year old investor’s new firm will target companies in India, China and Latin America with a focus on environmental, social and governance themes.
Mobius, a Money Marketing columnist, oversaw Franklin Templeton’s emerging markets team from 1987 to 2016.
The fund manager plans to launch the business in the next three years, according to reports. Former colleagues Carlos Hardenberg and Greg Konieczny will also join him in the new venture.
Speaking at the business launch yesterday, Mobius said: “I love what I’m doing, it didn’t make sense to be really retired. It’s no fun to be sitting around. I’ll still be doing some sitting on a beach somewhere in emerging markets.”