Friday, January 30, 2015
 
Follow sptimesonline on Facebook Follow sptimesonline on Twitter Follow sptimesonline on RSS Download APP
MOST READ



PARTNER NEWS


Legendary Porcelain Artworks for Your Home
The Gift Projects online showroom...


BLOGS



OPINION



WHERE TO GO?

19th Century Portraits

History of St. Petersburg Museum: Rumyantsev Mansion

Ineffable Light

Nikolai Roerich Apartment Museum

 

Перевести на русский Перевести на русский

Mobius May Double Size of Russia Portfolio

Published: July 31, 2009 (Issue # 1496)


Mark Mobius said Wednesday that he plans to double Templeton Asset Management’s 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 didn’t say how much of the portfolio’s 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 don’t 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

Friday, Jan. 30



The Lermontov Central Library, 19 Liteyny Prospekt, will screen 'Almost Famous’ in English with Russian subtitles at 6:30 p.m. Cameron Crowe's Academy Award-winning comedy from 2000 stars Billy Crudup, Kate Hudson, and Patrick Fugit, and tells the story of a budding music journalist at Rolling Stone magazine in the 1970s. Admission is free.



Meet renowned Russian poet, journalist and writer Dmitry Bykov, famous for his biographies of Boris Pasternak, Bulat Okudzhava and Maxim Gorky, and winner of 2006 National Bestseller Award. Bykov will read old and new poems as well as answer questions about his works at the St. Petersburg Philharmonic, Main Hall, at 7 p.m. Tickets start at 1,000 rubles and are available at city ticket offices and the from the Philharmonic website www.philharmonia.spb.ru.



A retrospective of the films of Roman Polanski starts today at Loft-Project Etagi, 74 Ligovsky Prospekt, with a screening of ‘Repulsion’ at 7 p.m. and ‘Rosemary’s Baby’ at 9:15 p.m. The series runs through Feb. 4 and will include Polanski's eminently creepy ‘The Tenant,’ the cult comedy ‘The Fearless Vampire Killers’ and ‘Cul-de-sac’ among others. Tickets are 150-200 rubles and the complete schedule is available at www.vk.com/artpokaz/



Times Talk