Mobius: Russia is at the top of my investment list

Franklin Templeton's Mark Mobius has said Russia is his current emerging market of choice and suggested concerns over corporate governance are misplaced.

"Russia is at the top of our investment list these days, resources companies and the oil companies in particular", Mobius said, speaking to Investment Week. Deepening investment within these sectors has proved problematic  for major investors such as BP this year, whose deal to explore the Arctic for oil with state-owned Rosneft collapsed. It was unable to reach an agreement with the co-owners of its existing Russian joint venture TNK-BP. Mobius, however, said he had drawn positive conclusions from the affair. "You cannot blame the Russian partners for getting angry at BP and Rosne...