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06 August 2018
Mobius Capital Partners Explores Investment Trust IPO on London Stock Exchange
- Mobius Investment Trust will provide access to the firm’s highly specialised active ownership strategy
- The new trust will invest in small to mid-cap companies in emerging and frontier markets with an absolute return focus
- Mark Mobius, Carlos Hardenberg and Greg Konieczny founded Mobius Capital Partners in May 2018
Mobius Capital Partners LLP (“Mobius Capital Partners”), the emerging and frontier markets investment firm, is exploring the launch of a new UK investment trust, Mobius Investment Trust plc (“MMIT“). The listed vehicle will provide access to the firm’s highly specialised active ownership strategy. MMIT will seek to invest in companies with resilient business models and the potential for operational and ESG (environmental, social and governance) improvements. In conjunction with its Initial Public Offering, MMIT will seek admission to trading on the Premium Segment of London Stock Exchange’s Main Market.
Mark Mobius, Carlos Hardenberg and Greg Konieczny, the firm’s Founding Partners have strong track records and an unrivalled depth of experience in emerging and frontier markets. This includes managing two of the largest London listed investment companies, Templeton Emerging Markets Investment Trust plc (“TEMIT“) and Fondul Proprietatea S.A. (“Fondul“).
Mark Mobius, Partner of Mobius Capital Partners, commented:
“Emerging and frontier markets have changed dramatically over the last 30 years. At Mobius Capital Partners we believe our approach to investment must also evolve to stay relevant. That is why we are adopting an innovative and specialised strategy built around actively partnering with our portfolio companies. The recent correction across emerging and frontier markets has presented the perfect conditions to be launching MMIT, with currencies at an all-time low and company valuations looking increasingly attractive.”
Jefferies International Limited (“Jefferies“) will act as sponsor and sole global coordinator in connection with the proposed launch. Scott Harris UK Ltd (“Scott Harris”) will be appointed as intermediaries offer adviser. The launch of MMIT is expected in September 2018.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mobius Capital Partners LLP
Tel: +44 (0) 203 829 8504
About Mobius Capital Partners
Mobius Capital Partners LLP is a governance orientated emerging and frontier markets investment manager founded by Mark Mobius, Carlos Hardenberg and Greg Konieczny in May 2018.
Leveraging decades of experience in emerging and frontier markets, the firm aims to deliver sustainable returns to investors. Headquartered in London, Mobius Capital Partners is authorised and regulated in the United Kingdom by the Financial Conduct Authority.
Further information on Mobius Capital Partners is available at https://www.mobiuscapitalpartners.com
About the Founding Partners
Dr. Mark Mobius is a pioneering investor and has actively managed emerging markets funds since 1987. Prior to launching Mobius Capital Partners, Dr. Mobius was at Franklin Templeton Investments for more than 30 years, most recently as Executive Chairman of the Templeton Emerging Markets Group. During his tenure, the group expanded AUM from USD 100m to over USD 40bn and launched a number of emerging market and frontier funds focusing on Asia, Latin America, Africa and Eastern Europe. His career and influence has earned him numerous industry awards. Dr. Mobius has also been a key figure in developing the international policy for emerging markets.
Carlos Hardenberg is a well-known emerging markets fund manager with 19 years’ experience having lived in Warsaw, Singapore, Istanbul and London. For a decade he managed Templeton Frontier Markets Fund, one of the largest frontier markets funds in the industry, as well as a number of global emerging markets funds, including TEMIT, a £2.2bn London listed investment trust.
Greg Konieczny has over 25 years of experience in research and portfolio management with a strong focus on emerging Europe. He was the fund manager of Fondul, the London and Bucharest listed USD $2.7bn Romanian fund, as well as an open-ended Eastern European fund. In addition, he led a private equity GEM strategy and Franklin Templeton’s EM Active Ownership Group.
Forward Looking Statements
This announcement (the “Announcement”) contains “forward looking” statements. These forward looking statements involve known and unknown risks and uncertainties, many of which are beyond Mobius Capital Partners control and all of which are based on Mobius Capital Partners’ current beliefs and expectations about future events. These forward-looking statements may be identified by the use of forward looking terminology, including the terms “believes”, “estimates”, “anticipates”, “projects”, “expects”, “intends”, “aims”, “plans”, “predicts”, “may”, “will”, “seeks” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts. They appear in a number of places throughout this Announcement and include statements regarding the intentions, beliefs or current expectations of Mobius Capital Partners concerning, among other things, the prospects, strategies and the market in which it is expected that MMIT will operate.
These forward looking statements and other statements contained in this Announcement regarding matters that are not historical facts are only predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing MMIT. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward looking statements. In addition, even if the strategies and the development of the markets in which it is expected MMIT will operate is consistent with the forward looking statements contained in this Announcement, those strategies or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward looking statements including, without limitation, general economic and business conditions, industry trends, competition, changes in regulation and currency fluctuations. Forward looking statements may, and often do, differ materially from actual results. Any forward looking statements in this Announcement reflect Mobius Capital Partners’ current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to MMIT’s strategy and expectations. The forward looking statements contained in this Announcement speak only as of the date of this Announcement. New factors will emerge in the future, and it is not possible for Mobius Capital Partners to predict which factors they will be. In addition, Mobius Capital Partners cannot assess the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those described in any forward looking statements. Mobius Capital Partners disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this Announcement to reflect any change in its expectations or any change in the events, conditions or circumstances on which such statements are based unless required to do so by applicable law or regulation.
Jefferies and its affiliates expressly disclaim any obligation or undertaking to update, review or revise any forward looking statements contained in this Announcement whether as a result of new information, future developments or otherwise.
The contents of this Announcement, which has been prepared by and is the sole responsibility of Mobius Capital Partners, have been approved by Jefferies solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 (as amended) (“FSMA”).
This Announcement is not for release, publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia, collectively, the “United States”), Australia, Canada, the Republic of South Africa (“South Africa”), New Zealand, Japan or any other jurisdiction where such distribution is unlawful, or to US persons, as defined in Regulation S (“Regulation S”) under the US Securities Act of 1933, as amended. The distribution of this Announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This Announcement is not an offer of securities for sale into the United States. The securities of MMIT have not been and will not be registered under the US Securities Act of 1933 (as amended) and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
This Announcement does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, securities of MMIT in any jurisdiction where such offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on MMIT, Mobius Capital Partners or Jefferies. The offer and sale of securities of MMIT has not been and will not be registered under the applicable securities laws of Australia, Canada, the Republic of South Africa or Japan. Subject to certain exemptions, the securities of MMIT may not be offered to or sold within Australia, Canada, the Republic of South Africa or Japan or to any national, resident or citizen of Australia, Canada, the Republic of South Africa or Japan.
In addition, MMIT has not been and will not be registered under the US Investment Company Act of 1940, as amended, and the recipient of this Announcement will not be entitled to the benefit of that act.
This Announcement is for information purposes only and does not contain or constitute an offer for sale of, or the solicitation of an offer or an invitation to buy or subscribe for, securities to any person in the Australia, Canada, South Africa, New Zealand or Japan or in any other jurisdiction.
This Announcement is an advertisement and not a prospectus. Investors should not subscribe for or purchase any transferable securities referred to in this Announcement except on the basis of information in the prospectus intended to be published by MMIT in due course in connection with the proposed initial public offering (the “IPO”) (the “Prospectus”). In particular, prospective investors will be required to read and understand the section entitled “Risk Factors” in the Prospectus. No Prospectus has been approved by the FCA in its capacity as UK Listing Authority as at the date of this Announcement.
The information in this Announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this Announcement or its accuracy or completeness. This Announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities of MMIT or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.
This Announcement does not constitute a recommendation concerning the IPO. The price and value of securities and any income from them can go down as well as up. Past performance is not a guide to future performance and prospective investors may not receive any return from MMIT. Before purchasing any securities of MMIT, persons viewing this Announcement should ensure that they fully understand and accept the risks that will be set out in the Prospectus, if and when published. Information in this Announcement or any of the documents relating to the IPO cannot be relied upon as a guide to future performance. There is no guarantee that the IPO will occur and you should not base your financial decisions on Mobius Capital Partners’ intentions in relation to the IPO at this stage. Potential investors should consult a professional adviser as to the suitability of the IPO for the entity concerned.
Jefferies, which is authorised and regulated in the United Kingdom by the UK Financial Conduct Authority, is acting exclusively for Mobius Capital Partners (and if established, MMIT) and no one else in connection with this Announcement or any future transaction in connection with it. Jefferies is not acting as adviser to any recipient of this Announcement or will be responsible to any recipient of the Announcement for providing the protections afforded to clients of any of them or for providing advice in connection with this Announcement or matters referred to herein.
This Announcement is being issued by and is the responsibility of Mobius Capital Partners. Neither Jefferies nor any of its respective affiliates accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to this Announcement, including the truth, accuracy or completeness of the information in this Announcement (or whether any information has been omitted from the Announcement), whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the Announcement or its contents or otherwise arising in connection therewith. Jefferies and its respective affiliates accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this Announcement or its contents, accuracy, fairness, verification, completeness or otherwise arising in connection therewith.