Mobius, 87, founded his investment management firm in 2018 after leaving Franklin Templeton Investments, to generate $1 billion in two to three years. The fund's primary concentration was on developing countries such as China, India, Latin America, and frontier markets.

Mobius stated in a statement, "I am proud of the investment team's strong performance over the last five years."

Mobius was a pioneer in the emerging-market asset class, which began in the 1980s and has since expanded to a $25 trillion opportunity. When John Templeton recognized his expertise in watching economies unfamiliar to the average US investor, he encouraged him to establish a fund to invest in those countries. Mobius has decades of experience in emerging economies and is highly regarded for some of his foresight.

He correctly predicted the start of the 2009 bull market, acquired bargains during the Asian financial crisis after Thailand floated its currency in 1997, and bought Russian stocks as panic selling took hold in 1998. In addition, he was one of the first institutional investors to recognize Africa as a promising frontier market, establishing the Templeton Africa Fund in 2012. He anticipated a "50-year rally" in Indian markets in 2021.

Mobius has frequently attributed his tolerance to foreign cultures — his father was German, while his mother was Puerto Rican — and his ability to see opportunities outside of the United States to his mixed-race heritage.

Mobius was born in Hempstead, New York, and grew up on Long Island, where he spoke German and Spanish at home. He got a scholarship at Boston University in 1955 and worked as a pianist in a nightclub to help pay for his education. Mobius earned a bachelor's degree in fine arts, a master's degree in communications, and a PhD in economics from the Massachusetts Institute of Technology.