September 14, 2007 at 2:56 pm by Tom Lydon
Although Turkey’s Turkish Investment Fund (TKF) closed-end fund (CEF) is above its long-term trend line (200-day moving average) and is up 14.1% year-to-date, its economy could be in for troubling times. Turkey’s economic growth fell to its slowest pace in five years during the second quarter of 2007. The lack of growth could open the door for Turkey’s Central Bank to cut interest rates later this year, according to The New Anatolian.
TKF invests mostly in Turkish corporations that cover everything from commercial banks to food products to real estate sectors. If economic growth declines and stagnates, no doubt it will impact many of the corporations’ earnings.
Tags: Turkey
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