Franklin Templeton's Mark Mobius, one of the world's most high-profile emerging markets investors, is stepping back after over 25 years at the helm of the investment trust he launched in the late 1980s – with analysts welcoming the approach to succession planning.

From the start of October, Mobius, executive chairman of the Templeton emerging markets group, will hand on management of the £1.9 billion Templeton Emerging Markets Investment Trust he has been running since its launch in June 1989, to Carlos Hardenberg, who will become lead portfolio manager, according to a statement from the listed trust this morning.