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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, Oct. 30


Dental-Expo St. Petersburg 2014 concludes today at Lenexpo. Welcoming specialists from throughout the federation, the forum is an opportunity for dentists to share tricks of the trade and peruse the most recent innovations in technology and equipment, with over 100 companies hocking their wares at the event.



Friday, Oct. 31


Put your grammar and logical thinking to the test in a fun and friendly environment during the British Book Centers Board Game Evening starting at 5 p.m. today. The event is free and all are welcome to attend.



Saturday, Nov. 1


The men and women who dedicate their lives to fitness get their chance to compete for the title of best body in Russia at todays Grand Prix Fitness House PRO, the nations premier bodybuilding competition. Not only will men and women be competing for thousands of dollars in prizes and a trip to represent their nation at Mr. Olympia but sporting goods and nutritional supplements will also be available for sale. Learn more about the culture of the Indian subcontinent during Diwali, the annual festival of lights that will be celebrated in St. Petersburg this weekend at the Culture Palace on Tambovskaya Ul. For 100 rubles ($2.40), festival-goers listen to Indian music, try on traditional Indian outfits and sample dishes highlighting the culinary diversity of the billion-plus people in the South Asian superpower.



Sunday, Nov. 2


Check out the latest video and interactive games at the Gaming Festival at the Mayakovsky Library ending today. Meet with the developers of the popular and learn more about their work, or learn how to play one of their creations with the opportunity to ask the creators themselves about the exact rules.



Monday, Nov. 3


Non-athletes can get feed their need for competition without breaking a sweat at the Rock-Paper-Scissors tournament this evening at the Cube Bar at Lomonosova 1. Referees will judge the validity of each matchup award points to winners while the citys elite fight for the chance to be called the best of the best. Those hoping to play must arrange a team beforehand and pay 200 rubles ($4.80) to enter.



Tuesday, Nov. 4


Attend the premiere of Canadian director Xavier Dolans latest film Mommy at the Avrora theater this evening. The fifth picture from the 25-year-old, it is the story of an unruly teenager but the most alluring (or unappealing) aspect is the way the film was shot: in a 1:1 format that is more reminiscent of Instagram videos than cinematic art. Tickets cost 400 rubles ($9.60) and snacks and drinks will be available.



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