Just as when the Indian markets are skyrocketing; with the benchmark indices scaling new peaks every other day, setting in the feeling that valuations have peaked, Mark Mobius, the emerging markets champion believes that valuations in the EM space look attractive. The executive chairman of Templeton emerging markets group tweeted, \u201c We believe valuations and sentiment continue to be supportive of emerging markets\u201d. In a recent blog, the executive chairman of Templeton Emerging Markets Group said that the first half of 2017, has been bright for emerging markets. In fact, the the MSCI Emerging Markets Index is up by 18.6% in year as compared to 11.02% gain in the MSCI World Index. While this seems to be impressive, Mobius believes that the factors which investors have historically found attractive about the asset class have come back into play, including stronger earnings growth and robust consumer trends. He calls it the early innings of the emerging-market earnings growth upturn, suggesting that the asset class has a lot of steam left. Mobius explains that even in regions that are still going through adjustment and rebalancing, there are more visible signs of robust economic conditions. Positive factors as identified by the expert include low debt, stabilizing commodity markets, reduced currency volatility and improving consumer confidence. The veteran observes that the implementation of reforms in many countries has also been further driving market confidence. The reputed scholar goes on to say that the price-to-earnings (P\/E) ratio for the MSCI Emerging Markets Index was 14.60 at the end of June 2017, while the S&P 500 Index P\/E ratio was 21.40 and the MSCI World Index 19.86, indicating that valuations appear supportive of investing in EM equity markets. Mobius says that Emerging markets have become more diversified than they were a decade ago. The asset class has undergone a significant transformation from the often plain-vanilla business models of the past, he points out in the blog. According to him, while the older models were focussed on infrastructure, telecommunications, classic banking and commodity businesses the new models rest on high innovation, and companies are moving into value-added production processes, backed by cutting edge world-class technology. He concludes by saying that there are many reasons to be optimistic about the outlook for the asset class in the remainder of 2017 and beyond.