Turkey
Funds Management, Research & Consultancy, Turkey - Saturday, August 1, 2009 21:41 - 0 Comments
Turkey awaits transformation in asset management
Cerulli Global Edge, August 2009
Turkey’s asset management industry is awaiting a seismic shift. A proposed new law, likely to take effect next year, has the potential to transform this industry, increasing competition and bringing the likely advent of open architecture. It will also make it a more attractive country for foreign institutions.
Turkey today has a sophisticated mutual fund industry, dating back over 20 years: its Capital Markets Law was passed in 1981, with the first communiqué on mutual funds appearing in 1986, and the first fund launched later that year. In aggregate, the fund industry has about US$25.5 billion under management in 2009, down from a peak of US$28.1 billion in 2007. Continue…
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