Shaftan: 'Stable' Turkey not at risk from Egypt

Turkey is unlikely to suffer any contagion effects from the events in Egypt, says Jupiter's Elena Shaftan, but she warns the most dangerous time for investors will be after the country's next election on 4 June.

Shaftan, the manager of the £619m Emerging European Opportunities fund, believes investors must differentiate between the political situations in Turkey and Egypt, as the former is much more stable. "Turkey is a much better functioning democracy than Egypt," she says. "Over the past years we have had a stand-off between the military and the government quite a few times, and all it caused was a slight ripple in the market, because both sides are interested in preserving stability. "One can never rule out some political events, but it is probably true for any other country. What we do n...