A 15 per cent yield buys you a lot of patience in a world with $14 trillion of negative-yielding debt.
That explains why Japanese investors are willing to set aside a host of concerns when it comes to Turkey -- everything from worries about its monetary policy to geopolitical tensions with the US and a deteriorating credit rating.
"I like Turkey not because of great fundamentals," said Takeshi Yokouchi, a senior fund manager at Sumitomo Mitsui DS Asset Management Co in Tokyo. "They offer very attractive yields."
Yokouchi has bumped up Turkish lira investments to 14 per cent in the portfolios he oversees,