NEW DELHI: The knock-on effect of Brexit could be bad for Europe and the EU, but select emerging markets (EMs) with relatively better fundamentals will stand out, Mark Mobius , Executive Chairman, emerging markets group, Franklin Templeton Investments, said in a blog "Generally speaking, the Brexit event actually brightens our view of emerging markets and the investment potential we see for the long term," he said. India was among the top-performing markets in the June quarter amid Brexit uncertainty. Markets simply did not price in the 'leave' scenario properly.The big question for market observers now is the knock-on effect 0n the EU generally. The Brexit vote shows the world that political instability is not concentrated in emerging markets and can be found even in the developed markets.Part of the volatility was related to the surprise element of the vote, but it looks like the markets have already begun to readjust. "You can see there is both opportunity and danger in these tough times," he said.

Source: Economic Times July 16, 2016 05:01 UTC