Mobius: 'record inflows' into GEMs in 2010

Templeton's Mark Mobius believes this year will see record inflows into emerging market funds.

The emerging markets guru says the combination of low interest rates in developed markets and the search for higher returns have helped channel $73bn into emerging market portfolios in the first 10 months of 2010, on track to exceed 2009's total of $83bn. Mobius, executive chairman of the Templeton Emerging Markets Group, adds fund raising by companies in emerging markets through IPOs and secondary issues was at a historical high this year. "Emerging market companies raised $406bn in initial public offerings and secondary equity issues in the first 11 months of the year, significantly...