9/17/2008

Finnish fund targets investment in Turkish equities

Turkish Daily News - Taaleritehdas East Asset Management is actively looking for new investment targets in Turkey for Lydian Lion, its long-only equity fund investing in listed Turkish companies. Ari Metso, chief executive officer of Helsinki-based Taaleritehdas, believes both institutional and private investors will gradually increase their equity exposure in the coming six to eight months as global conditions will steadily start to improve. For Taaleritehdas, which was established in September 2007 and today manages some $600 million, the two most attractive markets in emerging Europe at the moment are Russia and Turkey. In terms of sectors, Metso said he expected the banking, insurance and consumption-related sectors to drive the growth of Turkish equities in the future. In his view, investors should see Turkish equities as a medium-term or long-term investment target to make the most of their investments. Metso, who has been managing funds investing in Turkish equities for years, said Turkey was still, by and large, unknown territory for the average Nordic investor. "Of course, there are some informed investors, but overall there is very little understanding of how dynamic an economy Turkey actually is," he noted. “Turkey deserves to be better known by international investors,” Metso underlined.

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