Turkey Meets CalPERS Investment Criteria

According to data from a fund report, Turkey is on the Fund’s closely watched list of "emerging markets for investment after falling short." The report indicates that the countries in this list have achieved important developments and have demonstrated that they are ready to meet the high standards required for investments. CalPERS report says Turkey has fulfilled the investment criteria of "transparency and fairness, political stability, employment figures, liquidity of the market, position it takes against fluctuations, legal system, financial transaction costs, and protection of investors." Turkey has received the required grade for "investment sufficiency" and won the right to receive investments.

In addition to Turkey, the CalPERS investment list includes Argentina, Brazil, Chile, Czech Republic, Hungary, India, Israel, Jordan, Malaysia, Mexico, Peru, Philippines, Poland, South Africa, South Korea, Sri Lanka, Thailand, and Taiwan.

CalPERS consultant Wilshire Associates expressed that Turkey has made important economic progress. Wilshire and CalPERS together function in 20 countries worldwide and the consultant manages a portfolio of about $12.5 trillion. Since giant funds like CalPERS, which have never been interested in Turkey before, are accepted as institutional investors, their investments provide both stability and depth to the markets they are involved in. The owners of big portfolios of retirement or similar funds sought by several developing countries have making transactions through other mediator countries or institutions instead of directly purchasing stocks and shares from countries like Turkey because of credit grades below "investment level".