Mobius to manage Asia-focused Islamic fund
Mark Mobius will lead the Templeton Shariah Asian Growth Fund that is to be launched at the end of this month by investment house Franklin Templeton. The initial seed capital of the fund is $5mn. Mobius expects the sector to grow significantly in the coming years. Franklin Templeton is also launching a Global Sukuk Fund, with $20mn of seed money to invest in Islamic bonds, and a Shariah Global Equity Fund, with $5mn of initial capital.