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Veteran emerging-markets investor Mark Mobius has kept the bulk of his funds’ holdings in cash given that the trade-related uncertainty is likely to persist for up to six months.

“At this stage, cash is king. So 95% of my money in the funds are in cash,” Mobius said in an interview on Bloomberg Television Wednesday. “Right now, we got to keep the cash and be ready to move when the time is right.”

Mobius, who has been investing in developing markets for about three decades, said some emerging market countries such as India will do quite well in this environment, “but we have to wait until all of this evens out and we see a settling down of this uncertainty.”