Templeton’s emerging market guru, Dr. Mark Mobius today told the media that they are likely to introduce a new fund offering in November 2006 – Templeton SmallCap or MidCap Fund in India. Currently Mobius is focusing on smallcap and midcap stocks which are consumer oriented in India for the funds he manages.
Mobius further added that,” We have an underweight position on India relative to Russia, Brazil and China. Brazil is the largest, followed by China, Russia and India. We are looking for the day when valuations come down and we can buy in and get a big exposure in India“.