Developing markets guru keeps the faith
Biggest risks are nationalisation and currency clamps, says Mark Mobius
The political crises that have hit South Africa, South Korea and Brazil in recent years haven't taken the lustre off emerging markets, according to Mark Mobius, the guru of investing in the developing world. While the markets are getting excited by the economic recovery in the EU and US, the contrarian-minded investor, known for criss-crossing Asia in his private jet, is still bullish on the riskier asset class that is emerging markets. Mobius, in his distinctive pink tie and pinstripe blue suit, is executive chairman of Templeton Emerging Markets Group, which controls more than $29-billion (about R388-billion) invested in emerging markets.He seems to embody the rough-and-tumble dynamics of investing in these markets, in which slow growth over the past few years has seen a spike in political uncertainty. But the 81-year-old says his biggest concern is the questioning of the free-market model, driven by populist rhetoric. Political instability, corruption, weak economic growth and ev...
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