Turkish Capital Markets Board Decides to Liquidate 130 Funds of 7 Portfolio Management Companies

The Capital Markets Board of Turkey (SPK) has made a significant decision following developments in Borsa Istanbul markets. The Board ruled that all investment funds founded by Tera, Pusula, Hedef, Atlas, A1, Pardus, and Bulls Portfolio Management, and traded on TEFAS, be closed to buying and selling. The SPK's decision covers a total of 130 funds managed by these portfolio management companies. A liquidation process will be initiated for all of these funds. The decision was taken after recent developments in Borsa Istanbul. The liquidation decision will have significant consequences for investors in the relevant funds. The closure of the funds to buying and selling means that investors will not be able to buy or sell their shares in these funds under current conditions. The SPK's decision is considered a regulatory measure in the capital markets. The rationale and details of the decision have not yet been shared with the public. However, this step by the SPK is interpreted as a move to ensure market stability. Investors are advised to follow developments regarding their positions in the relevant funds. Not investment advice.