BofA Document Shows Investors’ Views on Turkey After Meetings With Finance Minister
- Investors worry about longevity of new economic team
- Feedback from private investor meetings with Simsek in London
The country was largely abandoned by foreign investors over unorthodox economic policies that led to a collapse in the lira and runaway inflation.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
Efforts to lure disillusioned investors back to Turkey are making slow progress, according to a leaked Bank of America Corp. document that reveals investor reactions to private meetings with Turkish Finance Minister Mehmet Simsek in London.
Marked “confidential,” the eight-page document summarizes feedback from 23 investors, including a global asset manager with $4 trillion under management, a handful of US and UK hedge funds, and a $700 billion Asian sovereign wealth fund. The comments relate to meetings with Simsek on Oct. 4-5, according to the document, a copy of which was viewed by Bloomberg.