Mobius faces market manipulation probe in Turkey - report

Mark Mobius, the world's most recognisable emerging markets manager, is being investigated in Turkey over possible market manipulation following requests from investors in the country.

Reuters reports Turkey's capital markets watchdog (SPK) has launched an investigation into Mobius, in connection with comments the manager made to reporters last week. On 27 October, Turkish and international media reported Mobius saying there may be a market correction by the end of the year of 15-20%. Shares on the Istanbul stock market, which have climbed 31% this year, fell 3% on the same day. In September, Mobius told Reuters he planned to add $250m-$300m to the $1bn he already had invested in the rapidly growing country.