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Invest in India. Amazing changes taking place there, says veteran investor Mark Mobius

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Mobius says there’s a terrific recovery taking place in developing economies and he’s particularly interested in India.

Singapore: Mark Mobius, a veteran investor in developing nations, said now is the time to buy their assets and favors India, Brazil and Turkey.

“We’re particularly interested in India at this stage,” Mobius said in a Bloomberg TV interview in Singapore on Friday. “I just came back from a two-week trip to India and I was just amazed at the changes taking place.”

Mobius cited “terrific recovery” in many of developing economies as reasons for investors to buy after all assets – stocks, currencies and bonds – suffered a losing year in 2018 amid concerns over the US – China trade war and a Federal Reserve’s tighter monetary policy.

“It’s quite incredible, and of course you’re looking at 7 percent growth for a country that size, it’s very impressive,” he told David Ingles and Rishaad Salamat, referring to India.

Mobius, who set up Mobius Capital Partners LLP last year after three decades at Franklin Templeton Investments, said this is where he would put his money:

30 per cent in India 30 per cent in Latin America including in Brazil and Argentina 30 percent in Eastern Europe like Poland and Romania The rest in China and other parts of Asia. – Bloomberg 

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