Turkish Fund Managers Eye Record Profit Gain as Assets Jump

Turkish money managers are set to post a record jump in profit after assets overseen by the industry increased by a third.

Net income for 2020 has surged by an average of 92% at the 11 asset-management companies to have reported results so far. The earnings, which include four of the five biggest firms and cover 58% of assets overseen by the 43 companies in the sector, suggest that last year is also shaping up as the most profitable for the industry since at least 2014.