Mark Mobius facing Turkey probe
Veteran emerging markets investor Mark Mobius is being investigated by the Turkish market watchdog over possible market manipulation.
VIP: Mobius was listed in Top 100 Most Powerful by Asiamoney magazine in 2006
Senior officials from the watchdog SPK were quoted saying the probe came after requests from Turkish investors and was in connection to comments the fund manager made last week.
Mobius, who has more than 30 years experience in emerging markets, told reporters last week there could be a 15% to 20% market correction by the end of the year. Shares in Istanbul lost 3% that day.
The Turkish benchmark has risen by nearly a third this year.
He tempered the gloomy view by saying: 'As I see it now we are in a bull market so any threat will be very short this year if there is a correction.'
And last month the emerging markets guru said he planned to add up to £187m to the £623m he already has invested in Turkey.
Mobius is executive chairman of the Templeton Emerging Markets team which manages £18.8bn in emerging markets. He is responsible for the Templeton Emerging Markets Investment
Trust, one of Britain's biggest investment trusts with a market value of £2bn.
In 2006, the septuagenarian was listed as one of the Top 100 Most Powerful and Influential People by Asiamoney magazine.
He has been travelling the world, investing almost since he left the Massachusetts Institute of Technology with a PhD in Economics and Political Science.
He joined Franklin Templeton Investments in January 1987 and is based in Singapore.
Most watched Money videos
- German car giant BMW has released the X2 and it has gone electric!
- How to invest to beat tax raids and make more of your money
- Would you retire abroad for cheaper living costs?
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- Iconic Dodge Charger goes electric as company unveils its Daytona
- Aston Martin unveils new Vantage sports car capable of 202mph
- Pair of rare 1980s Ford Sierra RS500 Coswotths head to auction
- Mini unveil an electrified version of their popular Countryman
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Steve McQueen featured driving famous stunt car in 'The Hunter'
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Competition watchdog clears Aviva's £460m acquisition of...
- Spirent ditches Vivai as Keysight gatecrashes deal with...
- Bidding war erupts for UK telecoms firm Spirent as...
- Superdry founder Julian Dunkerton ends his pursuit of the...
- No one should expect sympathy when the crypto bubble...
- Insurers are STILL stinging drivers by undervaluing...
- Insurance market Lloyd's of London toasts best result 'in...
- Thames Water shareholders refuse £500m lifeline plea
- My friends say I'm a shopaholic but I'm 34, single and...
- Disgraced crypto tycoon Sam Bankman-Fried sentenced to 25...
- EnQuest posts another loss after hit from oil and gas...
- William Hill owner 888 agrees to flog assets as it...
- AO World shares surge as online retailer electronics...
- BUSINESS LIVE: Crypto fraudster SBF handed 25-year prison...
- Cost of Baltimore bridge disaster will run into multi...
- Interest rate cuts still 'a long way off' despite falling...
- The turning of the tide for luxury e-commerce? Shoppers...
- MARKET REPORT: North Sea oil producer Enquest posts loss...