Mark Mobius, the Executive Chairman of Templeton Asset Management and a manager of various emerging market focused funds, is bullish on the Vietnam stock market - despite its 45% slump this year. From Bloomberg: ``'Vietnam's stock market now is down, so there are more opportunities,' Mobius said in an interview in Ho Chi Minh City, where Templeton opened its Vietnam representative office today. 'The market will go up and will be much more valuable in about three years.'''
He further added that Templeton will invest in retail banking, manufacturing, and agriculture companies on Ho Chi Minh City's stock exchange. Earlier this year, Templeton also bought a 49% stake in the fund management unit (Vietcombank Fund Management) of the Joint-Stock Commercial Bank for Foreign Trade of Vietnam.