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BlackRock Says It’s Added to Turkey Positions in Recent Days 2013-12-23 15:07:43.388 GMT
By Isobel Finkel Dec. 23 (Bloomberg) -- “We have been adding to positions in Turkey, especially in the financial sector, over the last few days, as valuations are now compelling (and for the first time in many months are now overweight relative to our benchmark),” Sam Vecht, head of the emerging markets specialist team at Blackrock in London, said in emailed comments today. * “While we watch the political situation in Turkey, and in all emerging markets very closely, we do think, that in Turkey, lots of bad news is already in the price” * “Historically, in emerging markets it has paid off to be brave when others are fearful” * NOTE: BlackRock is the world’s biggest money manager * NOTE: BlackRock to Third Point Blindsided as Turkey Shares Plummet, NSN MY0FI36TTDSQ <GO>
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To contact the editor responsible for this story: Isobel Finkel at +90-212-317-3911 or ifinkel1@bloomberg.net