Franklin Templeton's Mark Mobius has been buying into BRIC stocks in the past month on the belief the current share slump is only a correction in a bull market.
Mobius, who oversees about $34bn in emerging markets assets, says stocks in the developing world are set to recover faster and in a "big way".
The MSCI Emerging Markets Index has dropped 15% from its recent 15 April high as global stocks were hit by eurozone concerns and on China's steps to slow inflation.
"Despite the fact that a lot of people think that we are entering into a bear market, we do not believe so. This is a correction in an ongoing bull market," Mobius told Bloomberg.
"We have been buying because we have had net flows into our funds. And most of the buying has been in the BRIC countries."
He says Templeton has also been buying equities in other nations, including Dubai and Egypt. Mobius has not reduced holdings in South Korea, calling the companies he owns in the country "relatively inexpensive".
While tensions between North and South Korea have escalated in recent days, Mobius labelled the probability of war as "quite low".
"In the short term, of course, there will be anxiety, which could impact the markets," Mobius added.
"Despite all the geopolitical concerns, South Korea has continued to grow."
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