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Turkey investment fund liquidation: 40.8 billion TL paid to investors
Ziraat Bank has completed the liquidation of 66 investment funds managed by A1 Portföy, Bulls Portföy, and Pardus Portföy, distributing approximately 40.8 billion TL to more than 45,000 individuals. This process has reduced the total number of funds in the liquidation phase from 131 to 65.
A new legislative proposal regarding the liquidation of certain investment funds, which was accepted by the TBMM Plan and Budget Commission on October 14, is expected to be discussed in the General Assembly next week. The regulation aims to provide legal security for payments and establish procedures for recovering assets lost through unlawful means. Under the proposal, interim payments will be made to investors: those with net investments under 1 million TL can receive up to their investment amount, while those with 1 million TL or more are capped at a 1 million TL interim payment.
The Capital Markets Board (SPK) will oversee the liquidation process. Portfolio management companies will be held primarily responsible for losses or damages. Additionally, the proposal allows the Savings Deposit Insurance Fund (TMSF) to be appointed as a trustee, granting it powers to sell or liquidate assets under the Banking Law. Individuals identified as engaging in market-disrupting actions, information abuse, or market fraud will be barred from receiving payments from the liquidation and recovery accounts.
Entities
Capital Markets Board · Cevdet Yılmaz · Grand National Assembly of Turkey · Plan and Budget Commission · Savings Deposit Insurance Fund · Sermaye Piyasası Kurulu · Servet Mullaoğlu · TBMM · TMSF · TRT · Turkish Kızılay · Türk Kızılay
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 8 SOURCES] Vice President Cevdet Yılmaz is scheduled to present the 2027 central government budget proposal to the Plan and Budget Commission on Wednesday, October 21. www.konyayenigun.com · www.tigrishaber.com · www.cumhuriyet.com.tr · baskentgazete.com.tr · www.turkgun.com · +1 more
- [● 15 SOURCES] The liquidation of the funds will be carried out by designated entities under the supervision and audit of the Capital Markets Board (SPK). www.konyayenigun.com · www.yesilafsin.com · www.gazetezebra.com.tr · www.turkgun.com · dokuz8haber.net · +4 more
- [● 25 SOURCES] Investors with net investments under 1 million TL can receive up to that amount, while those with 1 million TL or more can receive a maximum interim payment of 1 million TL. www.bolgegazetesivan.com · www.konyayenigun.com · www.tigrishaber.com · www.yesilafsin.com · www.gazetezebra.com.tr · +14 more
- [● 14 SOURCES] Portfolio management companies, acting as the fund's founder or manager, will be held primarily responsible for any losses or damages. www.konyayenigun.com · www.tigrishaber.com · www.gazetezebra.com.tr · dokuz8haber.net · www.guneydoguekspres.com · +7 more
- [● 15 SOURCES] Those identified as committing market-disrupting actions, information abuse, or market fraud will be barred from receiving payments from the fund's liquidation and recovery accounts. www.yesilafsin.com · www.turkgun.com · www.dunya.com · www.yenicaggazetesi.com · www.konyayenigun.com · +8 more
- [● 26 SOURCES] The TBMM will discuss a law proposal regarding the liquidation of certain investment funds. www.bolgegazetesivan.com · www.konyayenigun.com · www.tigrishaber.com · www.yesilafsin.com · www.gazetezebra.com.tr · +16 more
- [● 7 SOURCES] The proposal allows for the Savings Deposit Insurance Fund (TMSF) to be appointed as a trustee. www.tigrishaber.com · www.gazetezebra.com.tr · dokuz8haber.net · www.guneydoguekspres.com · www.istanbulgazetesi.com.tr · +1 more
- [● 10 SOURCES] The number of investment funds in the liquidation process has decreased from 131 to 65. www.avrupagazete.co.uk · www.haberaktuel.com · www.aksam.com.tr · www.borsagundem.com.tr · www.gazetebirlik.com · +4 more
- [● 10 SOURCES] Ziraat Bank has completed liquidations for 66 investment funds, paying approximately 40.8 billion TL to over 45,000 people. www.avrupagazete.co.uk · www.haberaktuel.com · www.aksam.com.tr · www.borsagundem.com.tr · www.gazetebirlik.com · +4 more