There is a new ETF that has launched and it is geared for US investors to invest in Turkey. iShares MSCI Turkey Investable Market Index Fund (NYSE: TUR) seeks to track the MSCI Turkey Investable Market Index.
The index measures the performance of Turkish stocks and is a free float adjusted market cap weighted index. It is designed to measure broad based equity market performance in Turkey and consists of stocks traded primarily on the Istanbul Stock Exchange. The Underlying Index’s three largest industries were health care, financials and materials.
Turkey is also a difficult location for US investors to make investment bets. Turkish Investment Fund Inc. (NYSE: TKF) is one of the few vehicles currently available. It has about 7.5 million shares outstanding and trades an average of about 77,000 shares per day.
Jon C. Ogg
March 28, 2008
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