Franklin Templeton Investments
hasn't lost faith in the long-term promise of emerging markets, especially if the vicissitudes of up-and-coming economies can effectively balance each other out. The San Mateo-based firm has constructed the new Templeton BRIC Fund
to offer exposure to the diverse opportunities of Brazil, Russia, India, and China (as well as Hong Kong and Taiwan), according to an announcement
The fund's portfolio manager, Mark Mobius
, is also managing director of Templeton Asset Management Ltd. The four main countries represent an eclectic economic, cultural and political mix that, he posited, should lower the BRIC fund's overall volatility. Nonetheless, with a prospectus that pledges at least 80 percent of assets invested in securities of BRIC companies, the fund is a strong vote of confidence in emerging markets generally.
Stay ahead of the news ... Sign up for our email alerts now