Banking, finance, and taxes
A Sovereign Credit Rating Upgrade For Turkey (TUR, TKF, TKC)
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Moody’s believes that Turkey can continue to improve its fiscal and macroeconomic situation. Now it may be no coincidence that Turkey has been one of the best local stock markets in 2012 with double-digit gains. Here are the three vehicles which U.S. investors use to invest in Turkey (one of each as ETF, closed-end fund, and ADR):
iShares MSCI Turkey Invest Market Index (AMEX: TUR) trades at $50.78 against a 52-week range of $39.82 to $60.66 and it has more than $400 million in assets.
Turkish Investment Fund Inc. (NYSE: TKF) trades at $13.53 against a 52-week range of $10.81 to $16.11 and it has more than $111 million in assets.
Turkcell Iletisim Hizmetleri AS (NYSE: TKC) trades at $11.68 against a 52-week range of $10.18 to $14.10 and it has a market cap of more than $25 billion.
Turkey was one of our own list of nations we projected to be upgraded in 2012.
JON C. OGG
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