Top Turkish Equity Fund Bets on Banks to Be Among 2021 Stars
- Tacirler switching out of smaller stocks after outperformance
- Orthodox monetary policies may trigger stock gains, inflows
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Turkey’s top-performing equity fund is buying banks and other large industrial companies, anticipating that they will benefit the most from an economic upswing in 2021.
This shift is happening at the cost of the smaller companies so beloved by Turkey’s legion of mom and pop investors and which have helped Tacirler Portfoy’s $80 million equity intensive fund outpace its peers, said General Manager Okan Alpay. The fund has gained 102% in 2020 as of Dec. 18, the most among those focused on domestic stocks, according to the national fund distribution platform, known as Tefas.