BlackRock's Türkiye weight decreased from 11 percent to 0.5 percent

There was a remarkable decline in the Türkiye position of BlackRock Frontiers Investment Trust, managed by BlackRock, one of the world's largest asset management companies, in the first half of 2026.

While the weight of Türkiye assets in the fund's portfolio increased to 11 percent in February, it decreased to 0.5 percent at the end of May. Akbank, İş Bankası and MLP Sağlık stocks, which were previously included in the portfolio announced at the end of June, were not included.

Türkiye'S SHARE INCREASED TO 11 PERCENT IN FEBRUARY

Turkey's weight in BlackRock Frontiers Investment Trust's portfolio was 9.3 percent in October 2025.

This rate increased to 11 percent in February 2026. According to data provided by Turkey Today, the size of Türkiye's position in February was approximately 36 million pounds.

Fund managers also drew attention to the opportunities in the Turkish market in January and stated that they found the valuations of Turkish banks particularly attractive.

HE EXITS İŞ BANKASI IN MARCH, AKBANK REDUCED ITS POSITION

However, in the following period, the fund's position in Türkiye decreased rapidly.

In BlackRock's investor briefing for March, it was announced that it had completely exited its position in Türkiye İş Bankası, reduced its investment in Akbank, and made a profit in MLP Sağlık shares.

Fund managers cited the pressure that rising energy prices due to US-Iran tensions could put on Turkey's disinflation process as one of the reasons for this decision.

Turkey's weight in the portfolio decreased to 2.4 percent at the end of March. At the end of May, this rate decreased to 0.5 percent.

BlackRock's portfolio statement dated June 30, 2026 also shows that the company published its investment distribution for the period in question.

FINK MET WITH ERDOĞAN

BlackRock President and Chief Executive Laurence Fink was received by AKP President Recep Tayyip Erdoğan at the Dolmabahçe Working Office in Istanbul on March 27, 2026.

Minister of Treasury and Finance Mehmet Şimşek, Minister of Energy and Natural Resources Alparslan Bayraktar and World Economic Forum director Alois Zwinggi also attended the closed-door meeting.

No detailed explanation was given regarding the content of the meeting.

AFTER THE MEETING, CLAIMS OF 10 BILLION DOLLARS CAME TO THE AGENDA

After Fink's meeting with Erdoğan, various claims came to the fore in financial circles that BlackRock could transfer high amounts of resources to Turkey.

During this period, rumors were circulated in the market that the company could bring at least 10 billion dollars to Turkey, that it could have a large share in a Turkish bank or that it could take part as a block buyer in possible transactions related to Halkbank.

However, there has been no binding investment decision made public by BlackRock regarding these allegations.

Türkiye'S WEIGHT DECREASED TO 0.5 PERCENT

In the months following the Fink-Erdoğan meeting, the fund's Türkiye position saw a sharp decrease instead of an increase.

Turkey's weight in the portfolio decreased from 11 percent in February to 2.4 percent at the end of March and 0.5 percent at the end of May.

The fact that Akbank, İş Bankası and MLP Sağlık stocks, which the fund had previously carried in its portfolio at the end of June, were not included also revealed that its share positions in Turkey were significantly reduced.

In BlackRock's own assessments, concerns that high energy prices could complicate the fight against inflation and macroeconomic balances in Turkey came to the fore.