An Asia-headquartered firm has rolled out and listed an exchange traded fund that aims to capture returns from Turkish government bonds.

Singapore-based ZyFin Holdings has listed in Germany and UK what it called “the world’s first dedicated Turkish sovereign laddered bond exchange traded fund”, which tracks an index of Turkish government debt across a variety of maturities.

The full name of the ETF is the LAM Alternatif ZyFin Turkey Sovereign Bond UCITS ETF. It is listed on the Deutsche Börse and London Stock Exchange.

Explaining the rationale for the launch, ZyFin said Turkey has the sixth-largest local currency bond market in the emerging economies of the world. 

The index tracked by the ETF is made up of six Turkish government bonds, chosen from bonds that have more than TRY100 million ($34.6 million) in outstanding debt. The bonds are divided into three baskets, with each basket containing two bonds and having a residual maturity closest to a target maturity of two, five and 10 years respectively. 

ABank, Turkey, a subsidiary of Commercial Bank of Qatar, will provide local market expertise in the Turkish market with geopolitical and macroeconomic assessments, interest rate trend research and local market intelligence.