Turkish Money-Market Funds Rise After Three Weeks of Declines
Weekly data showed a roughly TL30 billion increase after money-market fund assets fell for three consecutive weeks.
Key takeaways
- Fund assets rose about TL30 billion in the week of Oct. 9.
- Assets had fallen for three consecutive weeks before the increase.
Turkish money-market funds recorded their first weekly increase since a fund investigation began, with assets rising about TL30 billion in the week of Oct. 9, according to weekly central bank statistics. Total fund size exceeded TL1 trillion 652 billion.
The rise followed three consecutive weeks of declines. Assets fell from TL2 trillion 135 billion in the week of Sept. 18 to TL1 trillion 622 billion in the week before the rebound.
Most of the initial decline was attributed to negative developments in investment funds. Some was thought to reflect funds set for liquidation whose prices could not be determined, according to the reports. Regulations and public statements about the fund market preceded the increase.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
