Veteran market investor Mark Mobius plans to step back from Mobius Capital Partners

Mark Mobius, the 87-year-old veteran emerging-markets investor, plans to step back from Mobius Capital Partners LLP in the coming months.

Mobius Investment Trust will continue to be managed by Mobius Capital Partners, which is led by founding partner Carlos Hardenberg, according to a statement from the trust.

In 2018, Mobius retired from Franklin Templeton Investments after three decades at the firm.

Mobius recently said Sensex could rise to 100,000 in the next five years. 

“I think the Sensex will go to 100,000 in the next five years easily... But there will be corrections on the way,” said Mobius while speaking at the Morningstar Investment Conference. 

“There will be downturns as markets are like that. I love when the markets go down because it gives you an opportunity to buy cheaply. I conserve cash waiting for that opportunity,” he added. 

In September, Mobius told Business Today that India is Mobius Capital Partners' "biggest single allocation in terms of country".

"We are very positive about India. It is our biggest single allocation in terms of country. India is an excellent place to invest with a long-term view. There are many things which make us bullish on the country. Number one is it's a democracy and it has a very strong capital commitment and capital growth. Number two is the economy’s high growth, which is one of the highest in the world. Number three is the young population and number four is the English-speaking population, which is very evident around the world. India has so many people around the world who are leaders in different fields. And of course, that know-how is going to be coming back to India and help in the growth of the country. And of course, India is coming from a low base. Therefore, percentage changes in terms of growth are going to be very good," said Mobius.