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US Investment Giants Say They Have Bought Turkish Assets: RTRS

TURKEY
US investment giants Pimco and Vanguard have bought local Turkish assets in recent months, senior executives told Reuters News, betting that the country will maintain high interest rates after years of erratic policymaking under President Erdogan. The following excerpts are taken from the Reuters report:
  • "Interviews with the executives show that two of the world's biggest investors, which together manage nearly $10 trillion in assets, have grown constructive on Turkey since its newfound economic orthodoxy, including rate hikes in June, following Erdogan's re-election."
  • "Pimco and Vanguard did not elaborate on the specific size of their purchases but their investments are a sign of confidence after a years-long exodus of foreigners that left Turkey well to the sidelines of global emerging markets."

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