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Turkey Is Shunned by Emerging-Market Hedge Funds Before Vote

  • Government support has led to deep distortions in asset prices
  • Foreign investors largely left as state intervention increased
Recep Tayyip Erdogan
Recep Tayyip ErdoganPhotographer: Adem Altan/AFP/Getty Images

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Even for hedge funds that specialize in taking risks where others won’t, Turkey is a no-go zone before its election in May.