When Betting Against Erdogan Is a Winning Trade
By Selcuk Gokoluk
April 9, 2019, 8:42 AM EDT Updated on April 9, 2019, 10:14 AM EDT
Fund bought lira put options as volatility dropped in March
Data shows fund outperformed 96% of peers over past month
By betting against the lira in the run-up to Turkish elections last month, Vanguard Asset Management netted one of the top returns among emerging-market bond funds. Money-manager Nick Eisinger sees no reason to switch from his bearish view.
More:Vanguard Outshines Bond Peers as Bearish Turkey Bet Pays Off - Bloomberg