New York
THE recent selloff in emerging-market assets, including Mexico and Malaysia's currencies, has opened up investment opportunities not seen for decades, according to Franklin Templeton's Michael Hasenstab, who's well known for making contrarian bets.
"On a valuation basis, this is not a once-a-decade, this is a multi-decade opportunity to be buying very cheap assets," Mr Hasenstab, who oversees 30 funds with US$143 billion in assets, said in an interview posted on YouTube on Monday. "We are not buying everything," but "there are a handful that have been caught up in the turmoil that we think are diamonds in the rough", he said.
The San Mateo, California-based money manager said he's buying...
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