Top Rated Funds Hit by Turkey Slide

These three funds have more than 5% of their portfolio invested in Turkish stocks - and they have all lost money year to date

Emma Wall 13 August, 2018 | 12:33AM

Turkey President Erdogan US sanctions emerging markets top rated funds developing economies

The Turkish lira has recouped some of its losses after falling to a record low on Asian markets at the start of the week, as the nation’s central bank moved in to inject "all the liquidity the banks need". But whether it will be enough to stem contagion fears remains to be seen.

Finance Minister Beart Albayrak announced an action plan to shore up the economy, while the bank said it would be cutting lira and foreign currency reserve requirements and pledged to closely monitor markets for further actions if needed.

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Emma Wall  is former Senior International Editor for Morningstar

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