Mobius says double dip fears are a 'very good thing'

Emerging markets guru Mark Mobius believes fears of a double-dip recession are good for markets, as it will force global central banks to remain liquid.

Mobius, executive chairman of Templeton Asset Management, believes moves by the Federal Reserve and other global central banks in increasing money supply will be positive for emerging markets and equities in general.

"They are going to have to print and they are going to have to continue money supply increases, and that is good for the global market because it means there is more money available globally," Mobius told CNBC.

However, Mobius is concerned on the rapid rise in emerging market IPO activity, believing it could eventually put pressure on valuations.

"Unless investors finally say 'look, enough is enough we want better prices', I think there is going be a downward pressure on prices of new IPOs," he says.

Mobius says over $90bn has been raised so far this year through IPOs in emerging markets, already exceeding the $89bn raised in 2009.