On Friday, Reuters (UK) interviewed legendary emerging markets investor Mark Mobius about investing in Polish, Russian, and Turkish stocks. Reuters’ Piotr Skolimowski wrote:

Turkish, Russian and Polish stocks are the most attractive in emerging Europe, high-profile emerging markets fund manager Mark Mobius said on Friday.

“Turkey would be at the top, then Russia and Poland as the most attractive equity emerging markets in the region,” Mobius, executive chairman of Templeton Asset Management handling some $40 billion in emerging assets, told Reuters in an interview.

A lot of attention was given to Polish equities in the piece. Skolimowski wrote:

Mobius said soon-to-be-privatised power company Enea and oil company PKN Orlen PKNA.WA were among “must have” stocks in Poland, adding another local refiner Lotos LTOS.WA could be added to that list if it merged with bigger peer PKN.

Templeton, which holds $400 million in Polish stocks, owns less than five percent of PKN as well as stakes in satellite navigation company Techmex TMEX.WA and ING Bank Slaski SLAS.WA, a unit of ING Groep, he said.

Mobius added Polish banks were unattractive at the moment because of their heavy mortgage lending and said Templeton Asset Management, an arm of Franklin Resources Inc, prefers their Thai and Brazilian peers.

Warsaw, Poland

Mobius, who has over 40 years of experience in emerging markets, added:

Anything related to oil and commodities is of interest to us.

Source:

“INTERVIEW-UPDATE 1-Mobius likes Turkish, Russian, Polish stocks”
Piotr Skolimowski
Reuters (UK), July 11, 2008

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