BlackRock Fund Wades Into Turkish Stocks on Turnaround Signs

Turkish stocks are among the biggest holdings in a top-performing BlackRock Inc. fund that had near-zero exposure a year ago, but now sees the market on the cusp of a possible turnaround.

Slowing inflation and steady interest-rate cuts are setting the stage for better equity performance in Turkey after years of poor returns, according to Samuel Vecht and Emily Fletcher, co-managers of BlackRock’s Frontiers Investment Trust Plc, which has outperformed 98% of its peers over the past five years.