Mobius: 'Real possibility' of capital controls in Turkey

Would cause damage to other emerging markets

Mike Sheen
clock • 1 min read

Emerging markets investment veteran Mark Mobius has warned of the negative implications for the emerging markets asset class as a whole if Turkey is forced to close its "foreign exchange window".

Turkey, which is facing a raft of fundamental problems such as double-digit inflation and an overheating economy, has seen its currency slide around 40% against the dollar this year and 20% in the last week alone. Mobius explores September launch for EM investment trust Speaking to Bloomberg TV, Mobius, who this year set up Mobius Capital Management following his departure from Franklin Templeton, warned there is a "real possibility" of capital controls being imposed in Turkey to stem the plunging lira, but he said this would have a negative impact on the rest of the emerging markets ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Emerging markets

Four Graphs explaining India

Four Graphs explaining India

Four experts write

Investment Week
clock 12 February 2024 • 4 min read
JEMI's Omar Negyal: Emerging markets are well positioned to support AI boom

JEMI's Omar Negyal: Emerging markets are well positioned to support AI boom

Early adaption is key

Omar Negyal
clock 11 January 2024 • 2 min read
TSMC and Infosys most frequent top ten holdings across JP Morgan AM trust stable

TSMC and Infosys most frequent top ten holdings across JP Morgan AM trust stable

Emerging markets dominate

James Baxter-Derrington
clock 10 January 2024 • 1 min read
Trustpilot