Investors should not flee from the continuing political unrest in Thailand, reckons emerging market stalwart Mark Mobius. "I strongly believe Thailand's people and economy will rise above the bickering of the country's politicians," he said.
The country's woes have been at the heart of the downswing in sentiment towards emerging market investments, but Mr Mobius, who's managed the £2bn Templeton Emerging Markets Investment Trust since 1987, said this week: "Violent demonstrations by supporters of Thailand's traditional Bangkok-based elite have raised concerns regarding the government's stability under the pro-populist policy of Prime Minister Yingluck Shinawatra, which draws its support from the poorer and more rural north and east of the country.
"Despite the unrest, we have not lost confidence in Thailand and believe its economy can bounce back, as it has time and again, from such adverse events."
He believes that Thailand will benefit from a surge in middle-class buying power that has seen neighbours Cambodia, Laos, Vietnam and Myanmar look outward for economic growth.Reuse content