Tuesday 19 April 2011

Mobius downplays benefits of upgrade - The National

A possible upgrade for the UAE to emerging market status may not be the good news most investors have been expecting, says the veteran emerging markets investor Mark Mobius.

Stock exchanges in the country have been working towards inclusion in MSCI's emerging markets index to try to raise the profile of locally traded stocks.

"In reality it won't increase investments. It might actually decrease investments because you become a small fish in a big pond," said Mr Mobius, who oversees more than US$54 billion (Dh198.33bn) as the executive chairman of Templeton Emerging Markets Group.

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