Templeton Betting on `Multi-Decade' Emerging-Market Opportunity
- Currencies in Mexico, Malaysia and Indonesia are cheap
- Money manager betting against Treasuries on inflation, Fed
Where Are Emerging Markets Headed?
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The recent selloff in emerging-market assets, including Mexico and Malaysia’s currencies, has opened up investment opportunities not seen for decades, according to Franklin Templeton’s Michael Hasenstab, who’s well known for making contrarian bets.
“On a valuation basis, this is not a once-a-decade, this is a multi-decade opportunity to be buying very cheap assets,” Hasenstab, who oversees 30 funds with $143 billion in assets, said in an interview posted on YouTube Monday. “We are not buying everything,” but “there are a handful that have been caught up in the turmoil that we think are diamonds in the rough,” he said.