The Turkish lira reflects the difficult situation Turkey is currently in. This year alone, the currency has shed more than 45% of its value to date. Interview update with Anton Hauser, Senior Fund Manager, Eastern Europe bonds.
The performance of most asset classes in the year to date has been mixed, to put it euphemistically. Is there a common underlying factor? Can we expect to see a better second half of the year?
In the beginning of July our Investment Committee held its monthly meeting. Despite a largely negative month on the markets, our risk stance has hardly changed relative to the previous month.
Has the political and economical backdrop improved as result of the election in Turkey? In our newest blog post we’re answering 7 of the most important questions.
The Turkish central bank was forced to raise its most important interest rate by 300bps and to re-align its monetary instruments. What are the reasons for this nosedive?
Senior Funds Manager Felix Dornaus summarises his learning points from the presentations by the International Monetary Fund in Washington on 20 to 23 April 2018. Who were the winners and who the losers?
Amalia Ripfl, Senior Fundmanager explains Turkey´s rush to early elections: who profits and what does it mean for the equity market?
The global economy is experiencing significant growth, and the emerging markets have felt the increased economic growth rates as well. Even in problematic countries such as Brazil or Russia, the situation has been picking up due to the increased oil price.
After the ballots were counted on 16 April 2017, the state-run Anadolu news agency reported that “Yes” had won by securing 51.4% of the votes, which was later also confirmed by the Electoral Commission. Serious concerns were raised by the OSCE. It is also important to note that the referendum took place during a “state of emergency”. That is to say, in a highly repressive climate in which the President and the government controlled the media, jailed critical journalists and leaders of pro-Kurdish parliamentary opposition, and arbitrarily detained and prosecuted the President’s opponents. The result of the referendum has paved the way for the most controversial changes that Turkey has faced in its history.
The spring meeting of the International Monetary Fund was held in Washington from 20 to 23 April. This event was the reason for an investor conference that I attended in order to get an idea of the status quo of the global economy as well as of risks and opportunities.