Fund repayments reach 97.3 billion liras

ANKARA

Payments under Türkiye’s fund liquidation process reached 97.3 billion Turkish Liras by Oct. 30, covering 247,839 investors across 100 funds, the Communications Directorate said on Nov. 3.

The announcement followed the ninth meeting of the Fund Coordination Board, chaired by Vice President Cevdet Yılmaz.

The total includes 29.3 billion liras paid to investors in funds established by portfolio management companies Atlas, Pusula and Tera under extraordinary liquidation procedures. Interim payments to these investors began on Oct. 30.

Earlier payments under ordinary liquidation totaled 68 billion liras across 93 funds established by A1 Capital, Bulls, Pardus and Hedef.

The directorate said 178,537 investors had recovered their principal in full, with payments to this group totaling about 76 billion liras in cash and asset transfers.

The interim payments follow a law passed by parliament on Oct. 22 and rules issued by the Capital Markets Board (SPK) on Oct. 27.

Investors found by authorities to have made unfair and excessive gains were excluded from interim payments, the directorate said.

Further payments will prioritize money market funds and proceed from investors with the smallest holdings to those with the largest, aiming to reach as many recipients as possible. Payments will continue this week, it added.