Market guru Mark Mobius roped in by Investcorp for India advisory board

After the appointment, Mobius said he was delighted to be a part of Investcorp’s India advisory board.

"Indian entrepreneurs and the market, both, have wonderful potential. Investcorp has an impeccable team to spot winners. I look forward to working with the team in exploring and expanding investment opportunities in India,” he said.

Market guru Mobius had said on February 15 that there was a possibility of another 10 percent correction in Indian equities.

“We can probably see another 10 percent correction but we are still in a long-term bull market,” Mobius said in an interview to CNBC-TV18. The comments come in the backdrop of a more than a 7 percent drawdown in the domestic benchmarks from their record highs hit in October 2021.

Also, on Russia-Ukraine tensions, Mobius said the geopolitical crisis is a side-show to the interest rate hike environment. “The Fed is going to raise interest rates…if you look at interest rates and the stock markets, there is really little correlation but there is a big correlation with the fixed income market, the bond market,” he said in an interview with CNBC-TV18 on February 15.

Rishi Kapoor, co-chief executive officer at Investcorp, said: “It is an honour to welcome Mark Mobius to our India advisory board."

Kapoor said as the firm was looking to accelerate growth in India, Mobius’ "wisdom, foresight and years of invaluable financial acumen would be crucial to the firm's journey".

"As several of Investcorp’s Indian portfolio companies may exit via public markets over the next few years, we will benefit from his unparalleled insights as a leading public equities investor,” Kapoor said.