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Institution 1 story

Turkey Wealth Fund

Türkiye's national wealth fund

The Türkiye Wealth Fund is a Türkiye-based sovereign wealth fund established on 26 August 2016 under Law No. 6741 to manage state-owned companies and enterprises under a single roof. As a development fund, it aims to increase the value and efficiency of the companies in its portfolio. Türkiye Wealth Fund Management Inc. was established to carry out its operations.

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Photo: Ekonomim

Economy World press 4 sources 2 updates

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.

Source spectrum State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign
Haber7: Devlet dört koldan devrede: Merkez Bankası, SPK, Varlık Fonu ve Emlak Katılım anında müdahale etti3rd to publish6 citations today Ekonomim: Reuters: TCMB, çarşamba günü 5 milyar dolar döviz sattı4th to publish30 citations today Halk TV: Son dakika | Fon krizinin maliyeti belli oldu: Tek günde milyarlarca dolar gitti2nd to publish34 citations today Bloomberg (US) · 1st to publishTurkey’s Wealth Fund Bought Blue-Chip Stocks to Stem Market Rout

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.

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