Pension fund giant Calpers is going to be directing some of its fund into Turkey. For now capturing very much in Eastern Europe is very difficult. I 've written a few times about the various CEFs available. There are very few ADRs and it is only logical that they should want US capital flowing into their markets.
I think over the next few years there will be more ways for Americans to invest but in the mean time a little bit of exposure in the way you can now capture it probably makes sense for people than can tolerate volatility.
Wikinvest Wire
4 comments:
Is there anything other than the ETF TKF or the stock TKC?
You're actually going to see few companies from countries such as Turkey listed in the US as a result of the costs and processes of Sarbanes-Oxley. Many of the listed companies in these countries wouldn't pass even a pre-SOX smell test and are rife with "standard business practices" - undisclosed self-dealing (a la AIG) being the least of them - that would make Richard Scrushy envious.
Best stick with mutual funds and CEFs, some of which have quite heavy Turkey weightings, if you're really that hot for the market. They may be interested in US capital but they're not really interested in jumping through the hoops necessary to attract it, at least directly.
PS for the other Anon: TKF is a CEF, not an ETF although it is, unquestionably, exchange-traded. However you need to familiarize yourself with the difference before you get a nasty surprise.
At this point hose are the only two easy pure plays on Turkey. There are CEFs and OEFs that have some exposure.
I agree that there may not be a lot of individual listed ADRs but it think there will be more products available to trade.
thekirkreport.com has an interesting take on this--
"CalSTRS is usually the last one to arrive at the party"
Post a Comment