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Jan 20, 2011, 11.22 AM IST
Templeton's Mark Mobius is considering a plan to set up a hedge fund, the emerging market guru said in an e-mail to Reuters, a move that would mark a major shift from traditional money managers into the USD 1.9 trillion alternative asset management industry.
"Yes, we are considering it," said Mobius who oversees more than USD 40 billion as chairman of Franklin Templeton's Emerging Markets Group. He did not divulge details of the fund as the plan was not final yet. The star manager enjoys a strong success in Asia, where his flagship USD 15.5 billion Templeton Asian Growth Fund has given investors an over-five-fold return in the past decade, making it the second best Asia ex-Japan equities fund over 10 years ending December 2010, according to data from Thomson Reuters Lipper. Singapore-based Mobius' move comes at a time when large American hedge funds are looking to set up shop in Asia as more and more institutional investors aim to boost exposure to the fast-growing region in search of higher yield. Assets under management of Asia ex-Japan hedge funds are expected to surge to about USD 140 billion by the end of 2011 from just over USD 110 billion now. By: Madhav Chanchani
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