Turkey investment fund crisis affects 58,000 investors

A significant crisis involving investment funds in Turkey has left approximately 58,000 investors unable to access their savings for nearly a month. The issue centers on funds under Atlas Portföy, specifically the PPT and PSE money market funds, which investors typically use as low-risk, daily liquid assets.

Investors report that while the Electronic Trading Platform (TEFAS) provided a window for sales, orders placed between September 16 and September 17 were subsequently canceled, triggering the liquidity crisis. Affected individuals have expressed deep distress, noting that they relied on the oversight of public institutions when choosing these funds.

Saadet Party leader Mahmut Arıkan has raised concerns regarding the investigation into these funds, specifically pointing to Ziraat Bankası. Arıkan noted that an analysis of two investment funds managed by the state bank revealed a massive outflow of 4.19 billion lira during a period when fund values were high. He called for judicial transparency, arguing that any lists of politicians or bureaucrats linked to the fund investigations should be handled by the judiciary rather than the presidency.