Billionaire Investor Says He Can’t Take Money Out of China

Billionaire investor Mark Mobius told FOX Business he cannot take his money out of China due to the country’s capital controls, cautioning investors to be “very, very careful” about investing in an economy under a tight government grip.

Mobius’ comments were circulated on Chinese social media site WeChat at the weekend. Mobius led emerging market investment at Franklin Templeton Investments for three decades and is known for his bullish view on China. Now, though, he said, he “would be very, very careful” investing in the country.

Mobius, who calls himself “the Indiana Jones of Emerging Market investing”, told FOX Business he’s increasing exposure to alternative markets such as India and Brazil. Mobius and HSBC could not be reached on the weekend.


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