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TEMPLETON EMERGING MARKETS GROUP EXECUTIVE CHAIRMAN MARK MOBIUS SAYS FUNDS ARE SET TO POUR BACK INTO MARKETS LIKE CHINA AND THAILAND TO TAKE ADVANTAGE OF ATTRACTIVE PRICES.

SHOWS: TOKYO, JAPAN (AUGUST 8, 2013) (REUTERS - ACCESS ALL)
MARK MOBIUS, EXECUTIVE CHAIRMAN, TEMPLETON EMERGING MARKETS GROUP
1. REPORTER OFF CAMERA SAYING:
"Do you find low valuations of emerging markets attractive or would you rather be selective as most of them face structural issues?"
2. MARK MOBIUS SAYING:
"Of course you have to be selective, because there are some companies that are very, very expensive, some that are cheap. Generally speaking, what we are finding is that in the frontier markets, valuations are very, very attractive. There are single-digit PEs, price-to-book values are below one, so forth and so on. In emerging markets generally, it's very patchy. Some markets are relatively expensive, some are not. It's interesting to note that in the BRIC area - you know BRIC countries have been pretty down, very unfavorable notices in terms of earnings and so forth in many cases - and there we're finding some opportunities."
3. REPORTER OFF CAMERA SAYING:
"Do you expect investors to remain inclined toward developed markets versus emerging markets? What happens to emerging markets in the wake of QE tapering?"
4. MARK MOBIUS SAYING:
"What we've seen is a flow of money going into emerging markets funds during the last five, six years in pretty large amounts, with the exception of the sub-prime crisis. In the first half of this year, there's been a lot of money going into developed markets funds. And emerging markets have been flat in terms of money flows. I think that'll be reversed, because as profits are made in developed markets, as money flow begins to increase because the banks now are going to be flush with cash, so they'll want to get out into the market, you'll see emerging markets come back."
5. REPORTER OFF CAMERA SAYING:
"Which emerging markets are you overweight and which are you underweight?"
6. MARK MOBIUS SAYING:
"We're now overweight, of course, in frontier-oriented companies and countries. Of course, as a percent of the total it's relativel...