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Economy 41 sources 2 updates

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

Published Updated

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."

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

Mentioned in this story

Sources 41 sources

Source spectrum State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign
TRT Haber5 articles · First to publish the story18 Sept, 13:52 Tuna Portföy'den fon süreçlerine ilişkin açıklama Anadolu Ajansı (ekonomi)2 articles · 3rd to publish the story18 Sept, 10:12 Bakan Şimşek: Borsada ve piyasada yapısal sorun yok Milat2 articles · 10th to publish the story18 Sept, 14:17 Tuna Portföy'den fon süreçlerine ilişkin açıklama A Haber2 articles · 5th to publish the story18 Sept, 10:17 Hazine ve Maliye Bakanı Mehmet Şimşek'ten piyasa mesajı: Genele yayılmış sistemik risk yok Diken2 articles · 6th to publish the story18 Sept, 10:19 Şimşek: Problem sınırlı sayıda fonda, genele yayılan risk yok Bloomberg HT2 articles · 4th to publish the story18 Sept, 15:32 Fonların ödeme ve tasfiye sürecini belirlendi +10 +11 Bloomberg HT · 4th to publish the story Serbestiyet · 8th to publish the story Dünya · 16th to publish the story Karar · 20th to publish the story Gazete Oksijen · 9th to publish the story Kısa Dalga · 11th to publish the story Ekonomim · 21st to publish the story Bursa Hakimiyet · 19th to publish the story Ekonomi Manşet · 13th to publish the story PSM · 14th to publish the story Sigorta Gündem · 15th to publish the story Artı Gerçek2 articles · 2nd to publish the story18 Sept, 10:22 Bakan Şimşek'ten 'fon krizi' açıklaması: Yapısal bir sorun yok Nefes2 articles · 18th to publish the story18 Sept, 14:22 Fon mağdurlarının paralarını ödeyecek 2 banka belli oldu +4 +5 Nefes · 18th to publish the story Gerçek Gündem · 7th to publish the story Cumhuriyet · 22nd to publish the story Yeniçağ · 24th to publish the story BirGün · 25th to publish the story Sputnik Türkiye (RU)17th to publish the story18 Sept, 13:27 Tera Portföy'den tasfiye sürecine ilişkin açıklama: Ödeme planını nasıl olacak? BBC Türkçe (GB)12th to publish the story18 Sept, 11:06 Bakan Şimşek: Borsa ve fon piyasasında genele yayılan bir risk yok Financial Times (GB)23rd to publish the story18 Sept, 15:38 Turkey moves to liquidate funds at centre of ‘Ponzi-like scheme’ +2 BBC Türkçe · 12th to publish the story Financial Times · 23rd to publish the story

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).

Story thread 2 updates

  1. Two more detained from Tera Yatırım in capital markets investigation Tera Yatırım board members Bülent Uygun and Abdulkadir Özkan have been detained. In the investigation, it was previously determined that Serdar Turhan transferred 15 million dollars and Muhammed Yarız transferred 25 million euros to Switzerland, and Nihat Kırmızı was also detained.
  2. 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."

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