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China, India Are Still Hot: Mobius

CNBC.com
Friday, 17 Apr 2009 | 12:40 PM ET

The current valuations of emerging markets are attractive and emerging markets also have undervalued currencies, Templeton Asset Management Managing Director Mark Mobius said Friday.

China and India are still the best in class, as both countries' economies are "growing at an incredible pace," Mobius told CNBC.

Investing in the Next Frontier
An investing legend who started his first fund at the same time of CNBC's launch sheds light on emerging markets problem spots and opportunities, with Mark Mobius, Templeton Asset Management managing director.

"We haven't seen the unrest (in China) you would expect. It's pretty disciplined," he told "Squawk Box."

Mobius said he sees value in Brazil, saying the emerging market country is "very important for us," and also likes Russia.

"Russia has been beaten down but when it comes back, it will be quite exciting," he said.

He also "loves" Eastern Europe and still sees value there.

But investors should not "give up on the U.S." as there are good opportunities in companies that have exposure to emerging markets, especially U.S. companies with "at least 50 percent earnings in emerging markets," he said.

"My biggest fear going forward is protectionism," he said. "If the U.S. and Europe become protectionist then all bets are off."

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