Mobius says Turkey one of the most attractive four markets to invest

Investors should start looking at emerging markets for their portfolio as the fundamentals compared to the developed world are compelling at the moment, Mobius told during an interview broadcast on CNBC.

 

"The fundamentals are very clear," he said.

 

Turkey is attractive because of its lower interest rates that are likely to boost consumer spending, he said, categorizing it together with South Africa. Mobius selected China as his top pick, since he considered the country as the most capable of boosting its domestic economy.

 

He placed Brazil second place on the list, citing the country’s banks as being of particular interest.

 

Foreign exchange reserves in emerging markets are much greater than those in developed countries, the fiscal situation is much better in emerging markets and debt as a percentage of gross domestic product is much better, he added.

 

In addition, the large amount of spending the United States and other countries are carrying out has yet to be felt by other countries, Mobius said.

 

"When it does, watch out," he said. "I think stock prices will go up."