Capital Markets Board of Türkiye orders liquidation of 131 investment funds

investment fund liquidation Capital Markets Board Borsa İstanbul liquidity crisis portfolio management

The Capital Markets Board of Türkiye (SPK) has initiated the liquidation of 131 investment funds managed by seven portfolio management companies, including Tera Portföy, A1 Capital, Pardus, Pusula, Hedef, Atlas, and Bulls Portföy. The decision follows liquidity and credit issues that triggered market volatility and a significant drop in Borsa İstanbul.

To manage the liquidation, Türkiye İş Bankası has been appointed as the custodian for Tera Portföy funds, while Ziraat Bankası will manage the funds for the other six companies. The process involves reconciling investor records between the Central Securities Depository (MKK) and the appointed banks within two business days. Asset transfers and debt reconciliations are expected to be completed within 10 business days of the SPK decision. Fund assets will be converted into cash based on market liquidity and investor interests, with the entire liquidation process estimated to take a maximum of three months.

Finance Minister Mehmet Şimşek stated that the issue is not a systemic risk, noting that approximately 90% of the fund market remains healthy. Meanwhile, judicial authorities have arrested several individuals, including fund board members, in connection with allegations of market manipulation. Additionally, access to 246 social media accounts has been blocked to prevent speculative posts that could cause investor panic.

Entities

Borsa İstanbul · Capital Markets Board of Turkey · Capital Markets Board of Türkiye · Central Securities Depository · Central Securities Depository of Turkey · Mehmet Şimşek · Tera Portföy Yönetimi A.Ş. · Tera Portföy Yönetimi AŞ · Türkiye İş Bankası · Türkiye İş Bankası A.Ş. · Ziraat Bankası

Claims

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

[● 2 SOURCES] Account transfers and debt/receivable reconciliations are planned to be completed within 10 business days following the SPK decision. www.medyahaber.com
[● 4 SOURCES] Türkiye İş Bankası and Ziraat Bankası have been appointed to manage the liquidation processes. www.ogunhaber.com · www.veryansintv.com · dokuzeylul.com
[● 2 SOURCES] Türkiye İş Bankası is appointed as the custodian for funds established by Tera Portföy Yönetimi AŞ.
[● 3 SOURCES] Reconciliation of investor records between the Central Securities Depository (MKK) and Türkiye İş Bankası will be completed within two business days. www.medyahaber.com · www.veryansintv.com
[● 3 SOURCES] Fund assets will be converted into cash based on investor interests and market liquidity conditions. www.medyahaber.com · www.ogunhaber.com
[● 3 SOURCES] Ziraat Bankası is authorized for funds established by A1 Capital, Atlas, Bulls, Hedef, Pardus, and Pusula Portföy Yönetimi AŞ. www.ogunhaber.com · www.veryansintv.com
[● 4 SOURCES] The SPK has established the liquidation procedures for 131 investment funds. www.bolutakip.com · www.gazetepencere.com · www.yenialanya.com
[● 2 SOURCES] The liquidation process is expected to last a maximum of three months from the announcement date. www.medyahaber.com · dokuzeylul.com