Money Management

Franklin Templeton taps CIO of emerging markets equity

Manraj S. Sekhon was named chief investment officer of emerging markets equity at Franklin Templeton (BEN) Investments (BEN), effective Feb. 19.

The position is new, said Stacey Coleman, spokeswoman. He will report to Stephen Dover, executive vice president and head of equities.

Mr. Dover had assumed the CIO role for the Templeton Emerging Markets Group after Mark Mobius stepped away from day-to-day management of the group in early 2016, Ms. Coleman said. Mr. Mobius, who remained as portfolio manager and executive chairman of the group, is retiring effective Wednesday.

Mr. Sekhon will oversee investment of $45 billion in emerging markets equity assets, Franklin Templeton said in a news release. He will be based in Singapore.

Mr. Sekhon was CEO, chief investment officer and director of Fullerton Fund Management, a S$17.3 billion ($13.1 billion) money management affiliate of Singapore state-owned investment company Temasek. He left the firm in November 2016; Jenny Sofian is now CEO at Fullerton, and Patrick Yeo is CIO, according to Fullerton's website.

Ms. Coleman said Mr. Sekhon fulfilled his non-compete agreement requirements and worked on his non-profit-related activities since leaving Fullerton.