Templeton Asset Management’s Mark Mobius says he expects economic recovery to continue in the Western world, but that a big correction in equity markets is “quite possible” before the end of the year.

Discussing the West, Mobius tells CNBC-TV18 that most of the bad news has already been factored into share prices, and that he expects growth to accelerate somewhat next year and in the following years. He also says he thinks global equities are in a secular bull market.

Mobius does, however, think that a big correction is “quite possible” in equity markets before year-end. And he offers his take a number of sectors in various global markets, particularly in emerging markets.