Mark Mobius, executive chairman of Templeton Asset Management
and one of the most influential people on the global financial
market, says the listing of the Property Fund may occur in
September, if Franklin Templeton takes over its role as manager by
July. He provided more details for the first time on the company’s
plans for the biggest business of the moment in Romania.
Mark Mobius, also known as a guru of the financial markets
because of his over thirty-year experience in the field, is one of
the Franklin Templeton professionals who will be involved in the
management of assets of the Property Fund worth around 3 billion
euros. Having won the mandate as a manager of the Fund on June 9th
2009, British-held Franklin Templeton has yet to take over the
reins, having only recently signed the management contract, at the
end of February. At present, Templeton is waiting for the
Government and the Fund’s shareholders to confirm the management
mandate.
“We are hoping to see the Fund on the Bucharest Stock Exchange in 2010. If we start actual management of the Fund on July 1st, listing could occur in September,” said Mark Mobius at the opening of the Stock Exchange trading session. He is the executive chairman of Temple Asset Management – the division specialised in investments on emerging markets of American group Franklin Templeton.