Within a span of just three years, assets in Turkish investment funds surged to over $20 billion. Driven by the need to hedge against high inflation and the depreciation of the lira, approximately half a million investors—including celebrities, politicians, and former officials—sought out these funds for higher returns. This rapid accumulation eventually led to the bursting of the investment bubble.
Economy
How Turkey's investment fund bubble burst
Nearly half a million investors poured over $20 billion into Turkish investment funds seeking high returns amid soaring inflation and a weakening lira.
Source: The Business Standard