Mumbai: Parts of India, the United States and other emerging markets have recently seen redirected money flows from China regulatory action The world’s second largest economy has rocked the market, according to veteran investor Mark Mobius.
Mobius, emerging markets fund manager and founder of Mobius Capital Partners, told Reuters Global Markets Forum (GMF) on Tuesday, “I would say half the money is left… but I think it is temporary, it will not last. “
Mobius said his firm is “very heavily focused in India”, with around 20% allocation, adding that he was moving rapidly into areas ranging from medical testing to industrial equipment.
“It’s a very broad range that we have in India. Lots of opportunities.”
Mobius previously made a name for himself as an emerging markets guru with US money manager Franklin Templeton, where he managed more than $50 billion in EM portfolios.
Mobius said the impact of China’s action would be temporary, and in the long term, curb monopolistic trends enabling small and medium-sized enterprises (SMEs) to thrive, whose firms manage assets worth more than $414 million. does.
The unpredictability of China’s regulatory measures https://reut.rs/3xrDq79 makes the country unsuitable for foreign investors in the short term, but could make it attractive in the long run, global fund managers told GMF last week.
In China, Mobius was bullish on medical device manufacturers, healthcare, high-end education companies that have not been affected by the recent crackdown, consumer products and fast food.
‘We think it’s good to be where we are,’ he said. He said he would look at buying some stocks, especially in the SME segment, given the recent price correction.
“There are now opportunities in China as a result of this panic after the government’s intervention,” Mobius said.
With India, Mobius said that his fund is bullish on Taiwan and Brazil.
(This interview was conducted in the Reuters Global Markets Forum chat room on Refinitiv Messenger. JOIN GMF: https://refini.tv/33uoFoQ)
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