Borsa İstanbul faces volatility amid fund liquidity issues and regulatory actions

Borsa İstanbul investment funds liquidity crisis financial stability stock market volatility

Borsa İstanbul experienced significant volatility, with the BIST 100 index dropping by 5.54 percent to 13,122.58 points on September 16, triggering circuit breakers. The downturn was driven by liquidity and credit issues within a limited number of investment funds, leading to massive capital outflows. Specifically, Pusula Portföy and Tera Portföy faced challenges with investor redemption payments, with some funds reporting defaults.

The Financial Stability Committee, chaired by Treasury and Finance Minister Mehmet Şimşek, convened to address the situation. The Committee stated that there is no fundamental or structural risk to Borsa İstanbul or the broader capital markets, characterizing the issue as temporary and manageable. Measures are being implemented to resolve liquidity shortages and prevent contagion.

In response to suspected market manipulation involving companies such as Katılımevim and Gündoğdu Gıda, the Capital Markets Board (SPK) imposed two-year trading bans on several fund managers from Pusula Portföy and Tera Portföy. Additionally, the Central Bank of Turkey announced liquidity management steps, including increasing funding through weekly repo auctions and reviewing collateral discount rates.

Entities

BIST 100 · Borsa İstanbul · Capital Markets Board · Central Bank of the Republic of Turkey · Central Bank of the Republic of Türkiye · Faik Öztrak · Financial Stability Committee · Hedef Holding · Mehmet Şimşek · Muhammed Yarız · Pusula Portföy · Pusula Portföy Yönetimi AŞ

Claims

What the coverage asserts, and how many sources carry each claim.

[● 5 SOURCES] Pusula Portföy announced that some of its investment funds defaulted on redemption payments. www.odatv.com · boldmedya.com
[● 2 SOURCES] Losses in the BIST 100 index exceeded 6 percent during the trading session. www.odatv.com
[● 11 SOURCES] The BIST 100 index closed down 5.54 percent at 13,122.58 points. www.borsagundem.com.tr · www.beyazgundem.com · tr.euronews.com · www.cnbce.com · ufukturu.net · +5 more
[○ 1 SOURCE] CHP Group Chairman Faik Öztrak stated that the stock market loss reached nearly 8 percent over the last five days.
[● 6 SOURCES] The index-linked circuit breaker was triggered at 16:04:32. www.odatv.com · www.korkusuz.com.tr · ufukturu.net · www.ekoturk.com · halktv.com.tr · +1 more
[● 3 SOURCES] Approximately 129 billion TL has flowed out of Pusula funds since the end of August. ogunhaber.com · boldmedya.com
[● 3 SOURCES] The Capital Markets Board (SPK) imposed a 2-year trading ban on Pusula Portföy and several fund managers. www.ilgazetesi.com.tr · www.gazetebirlik.com · www.mononews.gr
[○ 1 SOURCE] Margin calls reached 1.76 billion TL on September 16, the highest level since June 15. www.cnbce.com
[● 9 SOURCES] The Financial Stability Committee convened to assess capital weaknesses in the fund sector. www.mononews.gr · www.newmoney.gr · www.cnbce.com · www.ekoturk.com · www.korkusuz.com.tr · +4 more
[● 3 SOURCES] The Capital Markets Board imposed two-year trading bans on certain fund managers from Pusula Portfoy and Tera Portfoy. www.mononews.gr · www.newmoney.gr · www.ilgazetesi.com.tr
[● 4 SOURCES] Atlas Portföy reported delays in redemption payments for its Money Market Fund. www.mononews.gr · www.newmoney.gr · ogunhaber.com
[● 4 SOURCES] Two funds managed by Tera Portföy failed to meet investor redemption requests. www.mononews.gr · www.newmoney.gr · ufukturu.net · boldmedya.com