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Mobius May Double Size of Russia Portfolio

Published: July 31, 2009 (Issue # 1496)


Mark Mobius said Wednesday that he plans to double Templeton Asset Managements emerging-market assets to $50 billion within two years.

Templeton may also allocate more funds to Russia, which could theoretically account for as much as 20 percent of its portfolio compared with 10 percent now, Mobius said in Volgograd. He didnt say how much of the portfolios growth would be because of the rising price of stocks and bonds.

Emerging markets will be the first to climb out of the crisis, and Russia will be one of the leaders, said Mobius, who oversees about $25 billion as executive chairman at Templeton. Authorities in those countries have the chance to act more promptly and decisively.

China is a top pick in emerging markets, followed by Brazil, and then India and Russia, Mobius said.

Before, purely driven by valuations, China and Brazil were cheaper. But now, Russian stocks look cheaper, so we expect Russian stocks to come up and become more important in Templeton funds, he added.

In Russia, Templeton is focused on commodity and consumer stocks, he said. Consumers are bad now but will be recovering and doing well next year.

Templeton may increase its 0.5 percent stake in RusHydro to as much as 10 percent, Mobius said. We dont have much investment in other Russian power companies because we feel RusHydro is the best, he said.

RusHydro is accepting bids until Aug. 10 for a secondary share offer at 1 ruble par value. Of a 16 billion share issue, the state has already used pre-emptive rights to buy 4.9 billion and private investors 2.3 billion, leaving the rest for the offer.





 


ALL ABOUT TOWN

Thursday, Dec. 25


Make this Christmas a slam-dunk and check out the Zenit St. Petersburg basketball club as they take on Nizhny Novgorod this evening at the Sibur Arena on Krestovsky Ostrov at 8 p.m. Tickets are still available on the clubs website for as little as 200 rubles ($3.30).


Spend your yuletide with Oleg Basilashvili this evening at the Concert Hall at 13/1 Arsenalnaya Naberezhnaya . The legendary film and stage actor will chat with fans, tell stories and share memories of an extensive career that has earned him acclaim throughout Russia.



Friday, Dec. 26


Celebrate Boxing Day by playing various tabletop games during the British Book Centers Board Game Evening tonight at 5 p.m. Spread the Christmas cheer and goodwill by making other people regret their decision to come and try to match their intellectual prowess against yours.



Saturday, Dec. 27


Indulge cultural and material needs simultaneously during the free classical music concert at the Galeria shopping mall in the heart of the city. Starting at 7 p.m., shoppers and mallwalkers will be able to hear the sounds of Tchaikovsky and Strauss softly lilt over the constant buzz of people bustling from store to store, trying to get their shopping done before New Year.



Sunday, Dec. 28


Prepare for the holidays at the Russian Winter New Years Fair on Moskovskaya Ploshchad, which concludes today after starting on Dec. 22. Games and attractions as well as numerous performances will be on offer for those looking to get into the spirit while numerous vendors will help make sure you have something for everyone on your list.



Monday, Dec. 29


Learn how the Swedes observe Christmas, or Jul, in their land of ice and snow, during aSwedish Christmas celebration at the Lermontov Childrens Library this afternoon at 4 p.m. Activities explaining and demonstrating Swedens cultural traditions will be accompanied by traditional dishes and sweets.



Tuesday, Dec. 30


Today is the final day of the Christmas Market at the Europolis shopping center on Polyustrovsky prospekt. Indulge your holiday sweet tooth by tucking into some gingerbread men, or attend one of the master classes that will teach you about how to make beautiful, festive decorations for your tree using only your hands.



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