US giants Pimco and Vanguard invest in Turkey after return to rate hikes
07 January 2024 - 19:06
Istanbul/London — US investment giants Pimco and Vanguard have bought local Turkish assets, betting that the country will maintain high interest rates after years of erratic policymaking under President Tayyip Erdogan.
Interviews with top money managers at the companies show that two of the world’s biggest investors, which together oversee nearly $10 trillion in assets, have grown constructive on Turkey since its newfound economic orthodoxy after Erdogan’s re-election in May...
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