Mobius looks to frontier markets for growth

Templeton Asset Management fund manager Mark Mobius expects 'frontier' markets to outperform wider emerging markets in the next decade, with resource-rich Nigeria and Kazakhstan his top picks.
The veteran emerging markets specialist told Reuters that while he only currently has $800 million of his $45 billion total global investments in frontier markets, he expects that proportion to grow sharply in the coming decade.
"Frontier markets are still a relatively small part of the wider portfolio but I'd expect them to do better," he said, pointing to their relative immaturity and rising commodity prices, partly fuelled by rivalry between more established developed and emerging powers. "I'd expect to see them grow faster than the rest of the fund."
He said his Frontier Markets fund was spread across a very large number of some of the world's smaller financial markets, with the largest components in Nigeria, mostly with banks, and in Kazakhstan with resource firms.