Asset managers in Turkey have only been able to short following changes to the financial regulations in the middle of the last decade.
The Strateji Securities Long/Short Equity Fund launched in 2006 run by Istanbul-based fund manager Bülent Topbas as a result of the changes to the regulatory landscape in the emerging market economy.
Cenk Utkan, marketing director of Strateji Securities, says it the firm expecting the Turkish regulator to further change the rules to also allow individual stock options to be traded publicly.
He says: “We have launched a long-only Luxembourg-domiciled fund. Like many in the asset management industry we are in convergence mode and are moving in line with EU regulations.
“We may launch the long/short fund within the UCITS-compliant format if there is investor interest.”
“We were the first long/short fund to launch in 2006 – when listed equity index futures...