MENA equity markets set for growth, says Franklin Templeton | ZAWYA MENA Edition

MENA equity markets set for growth, says Franklin Templeton | ZAWYA MENA Edition:

Saudi Arabia and Egypt have been identified by investment management firm Franklin Templeton as two of its three global market picks (with Colombia being the third).

Salah Shamma, a Dubai-based head of investments and MENA equities, also told journalists at a media event last week that the Dubai market had been oversold.

“We believe that we are in the midst of an early cycle recovery,” Shamma said, arguing that the rest of the developed market, and many other emerging markets, had been enjoying a boom in recent years, while the Gulf had experienced a down cycle.