Trust target missed

EMERGING markets veteran Mark Mobius has raised £100m for his latest fund – just half the £200m he wanted.

He established his own business to launch the Mobius Investment Trust, which has been floated on the London Stock Exchange.

But investors were only willing to commit £100m to take stakes in smaller companies in emerging markets such as Brazil.

It is thought that economic crises in Turkey and Argentina, coupled with a boom in the US that makes America more attractive, have put punters off. Shares in the trust will begin trading on Monday.