International Equity Asset Classes in the Turkish Fund Industry
AbstractWe examine Turkish fund portfolios and identify the role of international investments in their formation. We find that (1) Turkish funds hold a very small fraction of international assets during 1987-2008, (2) the weight of international equity in the funds with an international mandate is smaller than the total weight of domestic asset classes as of 2009, and (3) international stock holdings of Turkish portfolio managers show significant similarity, which can be explained by the fact that the managers tend to hold stocks with which they are familiar. We compare the performance of funds that have the international investment objective with benchmark portfolios and provide suggestions for more diverse funds in the Turkish fund industry.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Emerging Markets Finance and Trade.
Volume (Year): 47 (2011)
Issue (Month): 4 (July)
Contact details of provider:
Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=111024
diversification; mutual funds; pension funds; portfolio management;
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen).
If references are entirely missing, you can add them using this form.