Mark Mobius, the founder-partner of Mobius Capital Partners, feels that emerging markets are poised to fare better than the United States markets.
“The uncertainty is still there and the US markets will probably do okay. But I think the emerging markets will do better than the US markets,” he said.
Discussing the economic outlook on CNBC's ‘Squawk Box’, Mobius said higher taxes on the rich under Biden’s presidency could pose a risk to equities as investors would look towards emerging markets instead.
Mobius acknowledged that Biden would find it "difficult to get through with his 'tax the rich' programme" as Republicans still hold the Senate. He was still cautious of Biden's "far-left wing Democratic Party that might insist on something being done.
Watch the full video here:CNBC