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NN Investment Partners cuts exposure to Turkey, Russia

NN Investment Partners Holdings NV has recently cut its exposure to Turkey and Russia due to rising headline risk, or the possibility that a news story will hit a company's stock price, Reuters reported Aug. 14.

The move comes amid mounting tension between Turkey and the U.S. and threats of more U.S. sanctions on Russia, the news agency noted.

Marcelo Assalin, head of emerging-market debt at the asset management firm, told Reuters that the NN Group NV unit had reduced its exposure across its emerging-market debt portfolios because of a "sharp rise in idiosyncratic risks."