27 January, 2021

The Mobius Manoeuvre

Despite global apprehensions, this FII chief feels that now is just the time to enter the Indian stockmarket

The Mobius Manoeuvre
outlookindia.com
-0001-11-30T00:00:00+05:53
He looks like Yul Brynner, but is referred to as the Indiana Jones of global mutual funds. Fifty seven-year-old Mark Mobius, president of the US-based Templeton Emerging Markets Fund (TEMF), manages $7 billion (nearly Rs 25,000 crore) worth of assets in developing stockmar -kets of the world. In the last five years, against an average international market returns index of 7.64 per cent, TEMF gave an annual return of 25.44. Mobius, who studied clinical psycho -logy, and once advised Snoopy strip cartoons how to market themselves in the Far East, is one contrarian who plans to launch the open-ended Templeton Mutual Fund in India now when most would not touch the country with a barge -pole. "We are just awaiting the SEBI approvals to launch our mutual fund scheme," he says.

That calls for guts. With the capital markets battered by scandals, computer breakdowns, strikes, political uncertainty and sheer confusion, Mobius justifies his treading into markets where most fund managers would fear to tread to Shekhar Ghosh.

Is this visit in keeping with your Indiana Jones of...

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