Turkish Daily News – Hedge funds, which have reached an estimated asset volume of $2 trillion globally by attracting investor’s interest with their rapidly changing asset allocation and high risk appetite, are about to be accessible to investors in Turkey.
Oyak Securities, Garanti Bank, the Turkish lender co-owned by General Electric Co., and İş Investment are the first institutions that have obtained approval to establish hedge funds since the introduction of the permit in March.
Preparations for the necessary infrastructure are now complete and hedge funds will be available to investors in Turkey this autumn, said Emrah Yücel, fund manager at İş Investment. Fluctuation of global markets for the past year will not have a negative impact on hedge funds, Yücel added, noting that the current economic situation makes such funds even more attractive to investors.
