Mark Mobius, the renowned emerging markets investor who retired from Franklin Templeton last month, is set to launch a fund aiming to bring environmental, social and governance improvements to companies in the developing world.

Mobius announced his plans at an event in Mumbai, India yesterday and the move was first reported by the Indian press. He confirmed the plans to Financial News this morning, but said he could not publicise the name of the new firm yet, until its launch is approved by regulators.