Mark Mobius bullish on BRIC market

Emerging markets fund manager Mark Mobius has said stocks in Brazil, Russia, India and China are likely to rise by 30 to 40 percent within three to four years as higher economic growth and lower government debt spur corporate earnings.

Mobius, chairman of Templeton Asset Management Ltd, said he's increasing holdings in all emerging markets, with particular focus on the four biggest developing-nation economies collectively known as the BRICs.

"BRIC countries are really at the top of our favorite holdings", Mobius, who oversees about $25 billion of emerging-market assets, said in an interview at the sidelines of a press conference in Istanbul yesterday. "You can see BRIC countries have been best performing."