US giants Pimco, Vanguard invest in Turkey after its return to rate hikes

5 January 2024, 12:00 am

1 min read

The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015. Pacific Investment Management Co said on Monday it may face U.S. Securities and Exchange Commission civil charges over whether it inflated the returns of a popular exchange-traded fund once managed by prominent bond investor Bill Gross. REUTERS/Mike Blake

Reuters reported U.S. investment giants Pimco and Vanguard have bought local Turkish assets in recent months, betting that the country will maintain high interest rates after years of erratic policymaking under President Tayyip Erdogan.