Charting Change in the Middle East

There can be no doubt that there is change in the Middle East, and the potential for a lot more change, and their markets reflect that. While it can be a little difficult for Americans to invest in markets of the Middle East, the easiest way is through closed end country funds trading on the NYSE. I own two that have been quietly doing quite well recently. I looked up these charts for my Sunday Night Charts feature, but I decided to give them their own post, partly because they are nice charts, but mostly because I think this is a worthwhile story.

First is ISL, a closed end fund investing in Israeli companies. It is up nearly 50% since the third quarter 2004. I should note it trades at a slight (about 3%) discount to NAV.

courtesy of stockcharts.com

Next is TKF, a closed end fund investing in Turkey. While Turkey itself is pretty stable and democratic, Turkish companies stand to profit from increased peace and prosperity in the region. It is up nearly 100% in a year, and trades at about a 14% premium to NAV.

courtesy of stockcharts.com

Let's hope there will continue to be more freedom and more prosperity in this region.