Mobius Capital Partners Co-Founder Mark Mobius is sitting on cash, as he hopes to get approval for a new fund in India, within the next month or so.
"We are hoping to get approval to invest in India within the next month or so. Then we can begin to really build the portfolio. Right now, we have over 50% in cash and are waiting for this opportunity in India," he told NDTV Profit.
India's young population, economic growth, and a government that is trying to raise standards are major reasons to invest in the country, Mobius highlighted.
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"India is number one in my view. I want to invest a substantial portion of this new fund. The reason for that is India has got so many things going for it—firstly, a young population; a government that is digitising and trying to raise standards; and a more unified country coming together. Another factor is economic growth," he said.
He further said, "If you invest in a country like India, which is growing at 6–7%, you know that the companies in the country will be growing at double that rate."
The Indian Rupee will strengthen going forward, according to him. "We will also see more and more global investors coming to India," he added.
The Mobius Capital Partners Co-Founder noted that a lot will change for India, as American manufacturers choose the country as a preferred supply source due to political tensions and trade wars.
"As American manufacturers have used China as their main supply source, that will shift more towards India going forward. India will get a lot of direct investment as well, which will be very important for India's future," he said.
Mobius recommended a portfolio allocation of 50% in equities, 10% in gold, and 20% in property for new investors. "The most important lesson is that you have to look at the people behind the companies you are investing in, not just the balance sheet," he said.
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