When international stock markets shut down, as they did as a result of the Aug. 17 earthquake in Turkey, U.S. fund managers can be sent scrambling for a new method of pricing their funds in order to keep them operating.

Eleven open-end mutual funds, including emerging market fund offerings from Merrill Lynch of New York, Federated Investors of Pittsburgh, Pa., Putnam Investments of Boston, Vontobel Funds of New York and OppenheimerFunds of New York were holding a five percent or larger block of Turkish securities in recent months (see chart), according to Morningstar, the fund data tracker in Chicago.

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