Templeton Investment Managment is considering setting up a Middle East fund, executive president Mark Mobius said in Oman on 5 December.
The Singapore-based group is assessing the feasibility of a new regional fund and is looking to add an Arab stock markets expert to its staff, Mobius told MEED. Templeton is already investing in Morocco, Jordan and Israel. ‘We are interested in investing in Egypt,’ Mobius said.
Speaking at a conference in Oman, Mobius said Templeton was also considering investing the Muscat Securities Exchange (see Oman).
However, technical problems must be resolved, Mobius said. ‘We have a custodial problem that we have to solve, but as soon as it is solved we will be putting money into this market if there are enough instruments available.’
Templeton is one of the world’s biggest emerging market investors, with 27 funds investing more than $7,000 million.