Billionaire Mark Mobius says he’s so bullish on emerging markets that all his money is outside the US

Billionaire investor Mark Mobius confirmed he has no US investments, saying he is bullish on emerging markets in Asia.

“I’m all international and emerging markets in particular,” the Mobius Capital Partners founder said in an interview with CNBC on Thursday.

Mobius said he is focusing his investments in Taiwan, South Korea, and India. But he sounded more cautious on China, saying he is looking at Hong Kong-listed companies because they have attractive valuations.

He added that the world’s second-largest economy is still going through a “tremendous adjustment” that will make it “very difficult for many companies.”

Companies in countries like Korea are also exposed to China as they export to customers there, and are looking to diversify to reduce their dependence on China, Mobius said.

As a result, he is looking for companies that have found alternative markets, while acknowledging that Korean and Taiwanese companies would have trouble completely cutting off their exposure to China.

“We want companies that have been diversified internationally, and we’re finding a number of these companies with incredible technology so they’re able to diversify their investor base,” he said.

Mobius previously cautioned investors on China, as he was unable to withdraw his funds from his Shanghai HSBC account due to the government’s capital controls. But he later said those issues were resolved.

Source: Business Insider