SPK clarifies investor count as fund probe continues

ISTANBUL

Türkiye’s Capital Markets Board (SPK) said on Sept. 23 that 455,758 investors held units in the 131 funds ordered into liquidation, clarifying the number after conflicting public reports.

The figure represents unique investors, according to records from the Central Securities Depository (MKK).

The funds, run by seven portfolio management companies, were ordered into liquidation under the board’s Sept. 17 decisions.

The regulator urged investors to rely only on official statements during the process.

It said it would continue working to protect investor rights, maintain market confidence and ensure the orderly functioning of capital markets.

An Istanbul court has also remanded five executives in custody in the capital markets investigation, including Tera Yatırım Holding Chairman Emre Tezmen and Pusula Holding Chairman Serdar Turhan.

The other three are Tera Portföy General Manager Alper Öztürk, Tera Yatırım Holding board member Emre Alkin and Tera Yatırım independent board member Kerem Alkin. The court approved prosecutors’ request for their remand.

Separately, Goldman Sachs analysts said investors withdrawing money from money market funds were likely transferring their savings into lira deposits.

Money market funds recorded $1.8 billion in outflows in the week to Sept. 11, according to the bank’s assessment.

Lira deposits rose by $12 billion from a week earlier as of Sept. 15. The analysts said inflows into lira deposits exceeded those into foreign currency and gold deposits after adjusting for valuation changes.