Mark Mobius, a renowned fund manager and founder of Mobius Capital Partners, expects returns of 15-20 per cent for the Indian stock markets. In fact, the recent fall has scared investors. In such a situation, Mobius’s thinking about the Indian markets will give him a lot of relief. Mobius has told many important things about the Indian market.
Mobius said that he wants to increase investment in the Indian market. He also dismissed the concern being expressed around the world regarding stagflation. He said that in India he does not see the status of Stegflen. Stagflation refers to a state of the economy when growth is very low and the prices of things go up. It is a kind of low growth and high inflation situation.
He said, “I expect 15 to 20 per cent returns from the Indian markets in 3-5 years. This is because India is a fast growing economy. There are many big companies here. India’s growth will continue to be strong. It can be 5 per cent or more per annum. If the economy grows at this rate, then you cannot say stagflation.”
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Regarding the concern being raised about inflation, he said that it is true that inflation is high. But, I don’t think it will be more than 9 per cent for the time being. That’s why I believe that a situation like stagflash does not seem to be happening in India. On the current situation in the market, he said that the number of active investors in the market has increased.
Mobius said that the number of new investors investing based on the earnings of companies has increased. On the recent sell-off in the market, he said the main reason for this is that investors want to invest in safer avenues of investment. He expressed the hope of some money coming out of China and coming to India.
“A lot of money has already gone out of China. You can see a situation where half of the money can go out. This money can go to emerging markets or developed markets. Some money is coming into India and other emerging markets,” he said. “You can see that the Brazilian market is bullish. Many markets in Asia are flat, because there is weakness in the Indian market.”
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