Mobius reveals trust is 56% invested in first portfolio update since launch

Capital allocated 'with caution'

In his first detailed update on the £95m Mobius Investment Trust, which launched on 1 October, Mark Mobius has revealed more than half of the trust is now invested, with 15 names across ten emerging market countries.

Mobius said he has exercised caution and discipline in allocating capital in the trust, due to 2018 being "a year to forget for emerging and frontier markets". Despite thinking of 2018 "fondly" as the year Mobius Capital Partners was established, the period was characterised by elevated volatility and political uncertainty while investors were "stalked by the threat of trade barriers and protectionism, with the backdrop of a strengthening dollar, tighter monetary conditions, and weaker commodity prices". Indeed, the trust - which launched at the start of the tumultous fourth quarter -...