Funds of seven portfolio companies closed, 131 funds enter

SPK 131 fonun tasfiye yöntemini açıkladı: Tera fonları İş Bankası’na, diğer altı şirketin fonları Ziraat’e - Serbestiyet — Photo: Serbestiyet

Economy World press 41 sources 19 Sept, 05:05

Capital Markets Board (SPK) assigns İş Bankası and Ziraat Bankası for liquidation of 130 funds

Assets of 130 funds belonging to seven portfolio management companies will be converted to cash, with the process to be completed within three months at most. Treasury and Finance Minister Mehmet Şimşek said, "There is no structural problem in the stock market or the fund market."

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

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Where reports differ

State media According to a statement reported by TRT Haber, Şimşek said the problem was limited to a small number of free funds stemming from credit and liquidity issues, that 131 out of 2,038 funds were affected, and that there was no systemic risk.

Opposition press Artı Gerçek wrote that the funds subject to the liquidation decision belong to approximately 550,000 investors and have a total size calculated at around $17 billion (826 billion lira).

Capital Markets Board (SPK) Mehmet Şimşek İş Bankası Ziraat Bankası Tera Portföy Yönetimi TEFAS

Akın Gürlek açıkladı: Borsa manipülasyonu opaerasyonunda 20 tutuklama — Photo: Oda TV

Economy World press 31 sources 18 Sept, 23:18

Gürlek: 20 arrests in capital markets; 40 arrested in fruit-and-vegetable investigation

Justice Minister Akın Gürlek announced that 20 people had been arrested in manipulative trading investigations and that 51 people had been banned from leaving the country. In Istanbul's fresh fruit and vegetable pricing investigation, all 40 suspects referred to court were arrested.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

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Akın Gürlek Justice Ministry Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK)

“Tera’yı şikâyet ettim, iki kez gözaltına alındım” - Serbestiyet — Photo: Serbestiyet

Economy World press 8 sources 18 Sept, 23:18

Two executives step down at Tera Finansal Yatırımlar and Hedef Holding

Erkan Kilimci, Deputy Chairman and General Manager of Tera Finansal Yatırımlar Holding, resigned of his own accord; Hedef Holding notified the Public Disclosure Platform (KAP) that board member Namık Kemal Gökalp resigned due to a legal process against him.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Tera Finansal Yatırımlar Holding Hedef Holding Public Disclosure Platform (KAP) Borsa Istanbul (BIST) Bloomberg

Reuters: TCMB, çarşamba günü 5 milyar dolar döviz sattı — Photo: Ekonomim

Economy World press 4 sources 2 updates 18 Sept, 16:58

Public institutions take steps in fund crisis, Central Bank foreign currency sales in focus

The Treasury and Finance Ministry convened the Financial Stability Committee, and the Central Bank (TCMB) raised repo funding to 300 billion lira. According to reports citing Reuters, the Central Bank sold approximately $5 billion on Wednesday; the Turkey Wealth Fund was reported to have made purchases on the stock exchange.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Where reports differ

Pro-government press Highlights the simultaneous measures taken by the Treasury, the Central Bank, the Capital Markets Board (SPK) and the banking regulator BDDK, as well as the Turkey Wealth Fund's role as a strong buyer on the stock exchange.

Opposition press Emphasizes the cost of the intervention: citing bankers' calculations, it reports that the Central Bank sold $5-5.2 billion in a single day and that a liquidation decision was made for a fund worth approximately 900 billion lira.

Treasury and Finance Ministry Central Bank (TCMB) Capital Markets Board (SPK) Turkey Wealth Fund Borsa Istanbul (BIST) Emlak Katılım

Month	y/y	m/m
Sept 2025	33.29% y/y	3.23% m/m
Oct 2025	32.87% y/y	2.55% m/m
Nov 2025	31.07% y/y	0.87% m/m
Dec 2025	30.89% y/y	0.89% m/m
Jan 2026	30.65% y/y	4.84% m/m
Feb 2026	31.53% y/y	2.96% m/m
Mar 2026	30.87% y/y	1.94% m/m
Apr 2026	32.37% y/y	4.18% m/m
May 2026	32.61% y/y	1.71% m/m
Jun 2026	32.11% y/y	0.99% m/m
Jul 2026	31.75% y/y	1.78% m/m
Aug 2026	31.51% y/y	1.84% m/m

Funds of seven portfolio companies closed, 131 funds enter liquidation process

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Then and now 1 USD in lira

Funds of seven portfolio companies closed, 131 funds enter liquidation process

News sources 7 sources

Who is in this story

Story thread 2 updates

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