Mobius warns Greece could return to EM status

Templeton's Mark Mobius says it is "quite possible" Greece could be reclassified as an emerging market and has invested in the country through the group's Emerging Markets Investment Trust.

Mobius, exectuive chairman of the Templeton Emerging Markets Group, says the $1.9bn fund has the capacity to hold 10% in "borderline countries", and has taken a small position in the National Bank of Greece. Meanwhile, Mobius has also built an overweight position in Nigeria in the Templeton Frontier Markets fund, the second largest holding at 9.2%, on the view the country's private consumption offers huge potential. In 2009, private consumption represented 76% of the country's GDP, while between 2005-2009 Nigeria saw real GDP growth of 6.1%. "In Nigeria we can see performance," Mob...