Turkey Regulator Will Liquidiate Some Funds Managed by 7 Firms
26 Articles
26 Articles
Turkey Regulator Will Liquidiate Some Funds Managed by 7 Firms
Turkey’s market regulator said it will liquidate some funds run by asset managers including Tera Portfoy and Pusula Portfoy as officials move to stem the turmoil that’s shaken the country’s investment industry.
Following the developments at Borsa Istanbul, the Capital Markets Board (SPK) has taken new measures regarding capital markets. The minimum equity ratio applicable to leveraged transactions has been temporarily reduced, and trading of 130 investment funds from 7 portfolio companies listed on TEFAS will be suspended. It has been decided that these funds will be liquidated using a method to be determined by the SPK.
The Capital Markets Board (SPK) has completely frozen operations and initiated liquidation proceedings for 130 funds, including those of Tera, Pusula, Hedef, Atlas, A1, Pardus, and Bulls Portfolio. Until the SPK announces the necessary timeline for investors to claim their rights, the shares in these funds will remain frozen.
The Capital Markets Board announced new measures following developments in the fund market. The minimum equity ratio for leveraged transactions was temporarily reduced to 20%, and it was decided that 7 portfolio management companies would be barred from buying and selling all investment funds traded on TEFAS (Turkish Investment Funds Exchange).
The Capital Markets Board (SPK) announced the precautionary measures it has taken in response to developments in the stock market. The Board temporarily reduced the minimum equity protection ratio for leveraged transactions to 20%; and decided to close the TEFAS transactions and liquidate the funds belonging to Tera, Pusula, Hedef, Atlas, A1, Pardus, and Bulls Portfolio.
Several fund companies entered a liquidity crisis in the process triggered by the arrest of Compass Portfolio Board Member Mohammed Yarizz. The Financial Stability Committee (FTK), which met urgently under the chairmanship of the Minister of Treasury and Finance Mehmet Şimşek, took measures after the sharp falls on the stock exchange in Istanbul, while the Capital Market Board (SPK) decided to liquidate all transactions in 130 funds belonging to…
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