- Friday, April 19, 2024
By: Shubham Ghosh
RECENT regulatory crackdowns in China have seen funds getting redirected from there to India, the United States and other emerging markets, according to veteran American investor Mark Mobius.
Speaking to Reuters Global Markets Forum (GMF) on Tuesday (10), Mobius, emerging markets fund manager and founder of Mobius Capital Partners, said. “I would say half the money has just left … But I think that is temporary, it will not last.”
The investor said his firm was “heavily concentrated in India” with about 20 per cent allocation and added that he was bullish on sectors ranging from medical testing to industrial equipment.
“It’s a pretty wide scope that we have in India. Lots of opportunities,” he said.
The 84-year-old had made his name as an emerging markets guru with US money manager Franklin Templeton, where he managed over $50 billion in EM portfolios.
Mobius, whose firm manages assets worth over $414 million, however, said the effect of China’s crackdown will be temporary and in the long run, they will curb monopolistic trends enabling small- and medium-sized enterprises to do well, Reuters reported.
The unpredictability of China’s regulatory measures makes it unattractive to foreign investors in the short term but attractive in the long run, global fund managers told GMF last week.
Along with India, Mobius said his fund was bullish on Taiwan and Brazil.
