EAST CAPITAL LAUNCHES THE EAST CAPITAL TURKISH FUND
Turkey currently has one of the world’s most fascinating stock markets. East Capital has therefore decided that the timing is right to focus even more on this exciting country, and on 29 March will launch the East Capital Turkish fund. East Capital has been investing in Turkey for several years now via the East Capital Eastern European Fund and the East Capital Balkan Fund, and Turkey constitutes the second largest stock market for the company, behind Russia. The fund will be distributed from start via the majority of sales channels and trading partners where East Capital’s other funds are currently available.
Turkey’s successful reform policies have caused interest rates to drop drastically over the last few years, creating a good platform for steady economic growth and the Turkish economy is growing rapidly today. The start of EU accession negotiations on 3 October 2005 was also an important advancement for Turkey.
”With Turkey’s favourable conditions and the healthy steps that have been taken towards stabilising the economy, we are sure that it is the right time to start a long-term and focused commitment to this market. The future run-up to possible EU membership will facilitate continued economic reforms, which we feel will allow for good growth for the Turkish economy,” says Peter Elam Håkansson, Chairman of East Capital.
With a market capitalisation of over EUR 125bn, the Turkish stock market is relatively large. Over 350 companies from around 40 different sectors are listed on the Istanbul exchange and almost 70 percent of the free-float shares are controlled by foreign investors. Last year, the Turkish market was up by 81.2% in EUR terms.
The East Capital Turkish Fund is a high-risk fund that is suitable for investors with a long-term investment horizon.
Facts about East Capital
East Capital is a leading, independent asset manager specialising in Eastern European financial markets. The company was founded in 1997 and actively manages EUR 2.7 bn.
East Capital’s investment strategy is based on a profound knowledge of the markets, fundamental analysis and frequent company visits by fund managers and analysts.
For further information about the fund and East Capital please contact
Karine Hirn, East Capital on +46 (0)8 505 88 526