Mobius Adds Cash to Brazil Saying Rousseff Removal Not Priced In
- Investor says real is his favorite emerging-market currency
- President Dilma Rousseff could be forced aside by mid-May
Mobius: Rousseff Impeachment Not Priced Into Stocks
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Franklin Templeton is increasing its investments in Brazil, betting the expected ouster of President Dilma Rousseff this month will boost the country’s assets.
The impact of Rousseff’s potential removal isn’t yet fully priced into Brazilian stocks, Mark Mobius, executive chairman of the fund manager’s Emerging Markets Group, said in a television interview with Bloomberg Markets Middle East. The real, which has rallied 15 percent this year, is his favorite emerging-market currency, he said.