USA’s Templeton is ready to invest in Russia 20 percent of the portfolio, which is to be increased to $50 billion during the forthcoming two years, the head of Templeton Asset Management, Mark Mobius said.
"We expect to have $50 billion under management (up from $24 billion now) ... within about two years. And theoretically 20 percent of that could be in Russia," Interfax quoted Mobius as saying.
Mr. Mobius did not say that it would happen for certain. For the time being, his portfolio under management is evaluated at $24 billion with $2 billion for Russia.
According to Mobius, the risks in the Russian economy are nearly the same as those in other countries – derivatives and inflation. Russia, he said, will survive the worst times of the crisis next year, and its economy will start growing.
“Emerging markets will be the first to climb out of the crisis, and Russia will be one of the leaders,” he said.
Mobius is particularly interested in Russia’s raw materials and consumer sector. He pointed out a growth in the sector of raw materials, but said that the situation in the consumer sector was not that good yet.
Templeton is particularly interested in such Russia’s giants as Nornickel, Lukoil and RusHydro.
Dr. Joseph Mark Mobius (born August 17, 1936) is a global investor and emerging markets fund manager, and is considered to be one of the leaders in the industry as he has been involved in these markets for over 40 years. Because of his in-depth knowledge of emerging markets, Mobius has been a key figure in developing international policy for emerging markets. In 1999, he was selected to serve on the World Bank's Global Corporate Governance Forum as a member of the Private Sector Advisory Group and as co-chair of the Investor Responsibility Taskforce. He has also been featured as a speaker for the World Bank in 1999 and has given seminars for many other groups, including for the Asian Development Bank in 2002 and as a motivational speaker for the London Speaker Bureau.
As a recognized industry expert, Mobius appears frequently on financial industry television shows and networks, including Bloomberg, CNBC, MSNBC, and CNN, and has given/written thousands of interviews and opinion pieces over the years