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Turkish Pensions to Pour Money Into Equities, Erste Bank Says

Published: 25/03/2013 08:24:11 PM GMT
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Turkish private pensions will shift money into stocks this year as new government incentives and low interest rates reduce the appeal of fixed-income (more)

Turkish private pensions will shift money into stocks this year as new government incentives and low interest rates reduce the appeal of fixed-income securities, according to Austria's Erste (EBS) Group Bank AG.

Stockp-icking will become more important than ever, meaning equity research will gain in importance at Turkish brokerages, Can Yurtcan, head of research at Erste Securities Istanbul, a unit of Vienna-based Erste, said in an interview.

Turkey said on Jan. 3 that it would match 25 percent of all private pension contributions, aiming to reverse a drop in national savings, while also reducing the fees fund-management companies are allowed to charge, incentivizing them to invest in riskier assets with higher returns. The government is also aiming make pension plans more attractive to conservative Muslims, who can't invest in securities that pay interest.


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