STREET DOGS: Mark Mobius, 81, bets on development
Through the fund, Mobius hopes to bring environmental, social and governance improvements to firms in the developing world
After retiring in January, Mark Mobius, 81, said this week he has applied to launch a fund to bring environmental, social and governance improvements to firms in the developing world. Earlier he told a gathering of investors in Orlando via video that he remains bullish on emerging and frontier markets as "they are younger and larger (in terms of land mass) … their price-to-earnings ratio is lower than that of developed markets, and internet usage in China and India dwarfs that of the US". Mobius told Financial News that investors are becoming more aware of their responsibility to foster better environmental, social and governance practices in the places in which they make their equity and bond investments. "Emerging markets," he said, "are fertile grounds for ESG [environmental, social and governance] improvements, so our desire is to have some impact through our investments and also garner returns for our investors". Asked which global markets he thought were especially attractive ...
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