Wednesday, April 16, 2014
 
Follow sptimesonline on Facebook Follow sptimesonline on Twitter Follow sptimesonline on RSS
MOST READ



PARTNER NEWS


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


BLOGS



OPINION

 

  Print this article Print this article

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.





 


Times Talk

ALL ABOUT TOWN

Wednesday, Apr. 16


Learn more about AmChams efforts during the Joint Manufacturing, and Investment and Legal Committees Meeting today at 9 a.m. Check their website for more information about the event.


Today marks the beginning of IPhEB and CPhI Russia 2014, an international forum for the pharmaceutical industry and biotechnology that will be at LenExpo today and tomorrow. Those both already established in the industries and hoping to start a career are encouraged to attend and network with their colleagues.


Thursday, Apr. 17


Expocenter Eurasia at 13 Ulitsa Kapitan Voronin is the sight of Goods on the Way, a five-day event starting today showcasing the latest in the industrial products industry. Bags, backpacks, swimsuits and much, much more will be available to attendees hoping to update not only their style but their accessories for the upcoming summer.


Friday, Apr. 18


Teachers and students alike shouldnt miss the opportunity to establish lasting contacts with Russian and foreign institutions during the 21st Education and Career Fair at LenExpo, beginning today and finishing tomorrow. Learn more about education in Russia and connect with your fellow scholars.


The Tromso International Film Festival, Norways largest, brings a short festival to St. Petersburg for one day only during Scandinavian Oddities, starting at 7 p.m. today at Rodina Cinema Center. Tickets for the event are 100 rubles ($2.80).


Sunday, Apr. 20


Celebrate Easter at Pavlovsk during the Easter Fair that begins today and continues through next Sunday. Visitors will have the chance to paint Easter eggs and children can take part in games as well as help decorate a tree in honor of Christianitys holiest day.


Today is one of the final days to see the exhibit Cacti Children of the Sun at the Peter the Great Botanical Garden. Starting Apr. 17, budding botanists will marvel at the variety and beauty of the deserts most iconic plant.


Monday, Apr. 21


Improve your grasp of Neruda, Bolano and Marquez at TrueDAs Beginners Spanish Lesson this evening at their location on the Petrograd Side. An experienced teacher will be on hand to help all attendees better understand the intricacies of the language and improve their accent.


Tuesday, Apr. 22


SPIBAs Breakfast with the Director event series continues as the association welcomes Andrei Barannikov, general director of SPN Communications, to the Anna Pavlova Hall of the Angleterre Hotel this morning at 9 a.m. Attendees must confirm their participation by Apr. 21.


The AmCham Environment, Health and Safety Committee Meeting is scheduled to begin at 9 a.m. this morning in the their St. Petersburg office.