The Turkish capital markets surveillance body (SPK) has started an investigation into fund manager Mark Mobius of Franklin Templeton over alleged market manipulation following requests from Turkish investors, senior SPK officials said on Monday, quoted by Reuters newswire.

The investigation was connected to comments made by Mobius to reporters last week. Turkish and international media reported on Oct. 27 Mobius saying there may be a market correction by the end of the year of 15-20 percent and that "...as I see it now we are in a bull market so any threat will be very short this year if there is a correction,” according to Reuters. Istanbul shares finished down 3 percent that day.

Franklin Templeton Investment Management manages Romania's Proprietatea Fund, which is expected to be listed on local and international stock markets next year.

editor@romania-insider.com