Templeton Asset Management’s Mark Mobius says that the combination of low-yielding fixed-income investments and looming inflation fears will have investors moving out of Treasurys and into stocks.

“People are now beginning to realize that they cannot be sitting on bonds that are paying one, two or even three percent, when inflation is running higher than that,” Mobius tells CNBC, adding that investors will look to stocks instead. “If you look at equities of course, the yields are much, much greater than the bonds.”

Mobius says Federal Reserve Chairman Ben Bernanke has made it very clear that the Fed will continue to add liquidity to the market until it sees sustained growth. Mobius also says he’s particularly high on Africa among emerging markets. “It is the real future in my view,” he says. “When you look at the 10 fastest growing countries in the world, in the last 10 years, six of those were African countries. It tells you something.”

But Mobius is highest on Russia when it comes to emerging markets. “In the regular emerging markets not the frontier markets, (my top pick) would be Russia,” he said. “Because the valuations are cheaper, the growth outlook is good for Russia. Oil prices have a big role to play.”