BlackRock quietly increases holdings of Turkish stocks, betting on a market turning point

Glonghui, January 28th｜A top fund managed by BlackRock is quietly increasing its holdings in Turkish stocks. A year ago, the fund's exposure to the Turkish market was almost zero, but it has now risen to nearly 10% of its portfolio, making Turkey its third largest market position (behind only Saudi Arabia and the UAE). The fund believes that the Turkish market is at a potential turning point. Co-managers Samuel Vecht and Emily Fletcher stated that slowing inflation and a steady reduction in interest rates have laid the foundation for the Turkish stock market to perform better after years of stagnation. "We see opportunities, so we have a significant allocation to Turkey in our portfolio," Fletcher said. This allocation size "is not exactly where we want it to be, but as long as market dynamics remain favorable, we will maintain this exposure." The fund has performed exceptionally well over the past five years, outperforming 98% of its peers.