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Sprint by Turkish Stocks Leaves Fund Managers in Starting Blocks

  • Just three of 63 funds beat index in year’s first six weeks
  • Money managers say they should be judged over longer period

An unforeseen early 2017 rally in Turkish equities wrong-footed local fund managers, producing their worst start for at least five years.

In the first six weeks of this year, just three of the 63 domestic equity funds managed to outpace Istanbul’s benchmark index, data from Turkey’s Electronic Fund Distribution Platform show. That’s the worst performance since at least 2012, when records began. In the first six weeks of 2016, 20 funds out of 59 beat the index.