Asset managers in Turkey have only been able to short following
changes to the financial regulations in the middle of the last
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
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...