Fund Liquidations Cut Count to 65 After 40.8 Billion Lira Transactions
Ziraat Bank completed cash and in-kind transactions across 66 funds, while officials discussed legislation and further planned payments.
Key takeaways
- About 40.8 billion lira in liquidation transactions was completed for over 45 thousand people.
- The number of funds in liquidation fell from 131 to 65.
- A bill on fund liquidation passed a parliamentary committee on Oct. 14.
Türkiye’s Fund Coordination Board said liquidation transactions worth about 40.8 billion lira have been completed for over 45 thousand people across 66 investment funds. Ziraat Bank completed the cash and in-kind transactions, and the number of funds in liquidation fell from 131 to 65.
The board held its sixth meeting under the vice president’s chairmanship. Officials from the Justice Ministry, Treasury and Finance Ministry, and related agencies also attended.
A bill intended to support fair, transparent and effective liquidation and provide legal safeguards for payments passed parliament’s Plan and Budget Committee on Oct. 14. It is expected to be considered by the General Assembly next week.
Officials also began initial discussions on a separate draft for lasting, comprehensive amendments to the Capital Markets Law. The stated aims include addressing structural problems in capital markets, strengthening oversight and regulation, and making penalties more deterrent.
Separately, the Capital Markets Board ruled on Oct. 15 that liquidation of funds established by Hedef Portfolio Management would follow the same rules set for funds established by A1, Bulls and Pardus Portfolio Management. Payments under that framework are planned for next week, with money market fund investors among those targeted.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
