Vanguard, the world’s second-largest investment firm, recently decided to reengage with local currency government bonds in Türkiye, a senior portfolio manager at the company said Friday, after the country embraced more conventional policymaking since the May vote.
The U.S.-based asset manager, with about $8 trillion in assets, hailed changes in Türkiye’s macroeconomic policies as “very positive,” in the words of Nick Eisinger, co-head of Vanguard’s Emerging Markets Active Fixed Income, responsible for the firm’s active emerging markets strategy.
“We think this is a very positive series of developments, and our assessment is that it should be lasting rather than temporary,” Eisinger told Anadolu Agency (AA).
After winning a reelection in May, President Recep Tayyip Erdoğan appointed a new economy administration that reversed yearslong easing policy and embraced a sharp policy tightening.
The…
