Mobius eyes oversold MENA stocks

Mark Mobius is "cautiously" looking to buy oversold quality companies in the Middle East and North Africa, despite increasing volatility in the region.

Templeton Asset Management's chairman is focusing on companies with a competitive advantage, that are leaders in their space. "We are interested in companies that are domestic, regional and/or international leaders, that focus on the core advantage of the countries in which they operate and/or those that are likely to benefit from increased budget spending and economic activity," Mobius says. "North African and Levant countries are likely to see increased pressures on their current accounts and budgets in the short term, and consequently slower economic growth. "However, the pictur...