Mark Mobius is pouring a further $250m into Turkish equities across Templeton's EM portfolios in anticipation of strong economic growth in the coming year.
Speaking at a press conference in Istanbul, the executive chairman of Templeton Emerging Markets, who oversees $34bn of assets, revealed he would be adding to his $1bn investment in Turkey this month. According to Bloomberg, Turkey's ISE National 100 Index has surged ahead of the major European indices, up 24% this year and is set for a 20% rise this quarter, the largest quarterly gain in a year. Mobius, who says the funds are already "very overweight in Turkey", told Bloomberg he will be investing in the banking, oil and consumer sectors. "In our East European fund, Turkey is the ...
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