Marko Daljajev says he’s made money on Turkish and Russian stocks by ignoring the big international events that make headlines.
That’s good advice now, when tensions between the two countries are sizzling after Turkey this week shot down a Russian fighter jet. Daljajev runs the SEB Eastern Europe Small Cap Fund, which is the best performer this year out of the 100 with sizable holdings in both countries.
Over the past 12 months Turkey has experienced a hung parliament, record lira weakness, terrorism and a flood of Syrian refugees. Russia’s been in recession, crippled by the plunge in world oil prices. Even so, Daljajev’s euro-denominated fund is up 17 percent, while the MSCI Eastern European benchmark is down by 5 percent.
