Despite losing some ground in the first months of the year, the Turkey country-specific exchange traded fund (ETF) continues to push forward, backed by a strong long-term economic outlook.

Goldman Sachs strategist Sharon Bell projected a “healthy 7.4% gross domestic product growth in emerging markets this year,” reports Vito J. Racanelli for Barron’s. Technical market indicators are looking better, especially a reversal in global equity fund flows into the emerging markets, which totaled $2.6 billion in the last week of March.

Turkey’s index has moved above its 50-day and 200-day moving averages as investors see an inexpensive entry point into the emerging markets rally. Jacob de Tusch-Lec, a fund manager with Artemis Investment Management, has been targeting Akbank, Turkey’s largest bank, arguing he is “willing to go through cyclical inflation for the secular long term.” [Turkey Leads Emerging Markets ETFs.]

Alan Miller, a money manager at London based SCM Private, recently put money into the Turkey ETF because of the country’s strong economic growth, favorable demographics, valuation of its largest equities and double-digit profit growth.

For more information on Turkey, visit our Turkey category.

  • iShares MSCI Turkey Investable Market Index Fund (NYSEArca: TUR)

Max Chen contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.