Amid current geopolitical challenges and a slowdown in global growth, veteran emerging market investor Mark Mobius called India a safe haven for investors, backed by a stable government. The renowned investor, who is excited about the opportunities available in India, said the country is now the second largest in the portfolio of Mobius Capital Partners after Taiwan. Calling India a "land of opportunities and innovation", he said that his optimism about India is driven by the stable government and young demographic, with an average age of 27 years.
Mark Mobius, executive chairman of Templeton Emerging Markets Group still believes in the emerging markets growth story.
He said cheap valuations, improving sentiment and the ongoing reform momentum coupled with increased transparency due to the internet are driving investors to the Dalal Street.
Mark Mobius, co-founder, Mobius Capital Partners, tells Puneet Wadhwa that investors should concentrate more on "value" rather than momentum, and on good small- and medium-sized companies rather than large-caps.
Mark Mobius doesn't see any crisis brewing in emerging markets.
For past two years, a lot of money has piled up in banks.
The Indian markets have risen 5.2 per cent in the last five days, but Mobius, who has one of the largest exposures to India among Brazil, Russia, India, China (BRIC) countries, says he cannot say the correction is over in the Indian markets.
Mark Mobius, executive chairman, Templeton Emerging Markets Group, is positive on India and believes the Indian economy is on a strong footing
Mark Mobius, the 71-year old investment guru and executive chairman of Franklin Templeton Investments, has a positive view on the Indian market and feels that stock valuations have become attractive after the 27 per cent cut in benchmark equity indices since late January.Stating that it was difficult to predict the end of the current phase, Mobius said he expected the decoupling to continue in the long term.
'India can afford more debt at this juncture.' 'India's fiscal deficit is still manageable.'
'We want to make sure we stay in India and we have very high hopes from India,' says Mark Mobius.
In an exclusive CNBC-TV18 interview, emerging market guru and CIO of Templeton Asset Management, Mark Mobius, gives his take on emerging markets.
Mark Mobius says the long-term trend for the Indian market is good and India has done better than other markets.
Investors should be prepared to invest for the long-term. Stock prices are not only dependent on fundamentals but also on market sentiment.
Consumers and commodities are his favourite sectors at the moment.
Benchmark indices plunge 4.7% in the first full week of 2016.
Most of these stories are real, but in the world there have been long periods of time when these have not worked.
'As the interest rates rise, people are going to say why should I be taking big risks when I can get 4 to 5 per cent in a bank account.' 'So, I think you have to change your thinking.' 'You need to look at the balance sheet, look at dividends.' 'These issues that have been ignored.'
'Overall, the Indian economy is doing well.' 'Our economic fundamentals are strong and the early signs of recovery are sustainable.' 'This is positive for the market in the long run.'
These MFs are relatively unknown names, but have immense potential.
We expect the Indian equity market to continue attracting interest from local as well as foreign investors. This is because India's economy is expected to continue to record sustained economic growth.
Hence, to conclude, a combination of factors like unwanted pessimism and greater availability of money is the driving force behind the current stock market rally. Will the markets once again touch the lows of last year? Unlikely. Will they rise even higher? Well, only time will tell.
Emerging markets guru Mark Mobius believes the Indian market is no longer cheap but the country has been enjoying a premium over peers due to its growth prospects. In an interview with Business Standard, the executive chairman of Templeton Emerging Markets Group says India's relatively strong fundamentals and accumulation of foreign exchange reserves put it in a much stronger position to weather external shocks.
Templeton, which holds a 9 per cent stake in Taro, said that Sun's offer of $7.75 a share is too low and unjust to the minority shareholders of Taro.
Lower price-earnings ratio, big IPOs attract players.
The quality in the portfolio must be kept in mind even though it means the returns are going to be more modest in the short term.
If they have extra cash to put into long-term investments, then this is the best time to buy. The reason: growth. Emerging markets will continue their high growth rate and investors should try to capture that growth, says Mark Mobius.
The world financial markets were close to breakdown just a month or so ago. While the rest of the world's central banks missed the big picture, not so the US Fed led by Prof. Ben Bernanke. His timely interventions, and a worldview of what works and what does not, has most likely helped avert a global financial meltdown; if such a meltdown had occurred, it would have affected all of us quite severely.
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