TRY 643 billion exits investment funds
The dollarization rate in Türkiye’s investment and pension funds rose to 40.1% in September.
According to calculations by economist Haluk Bürümcekçi based on TEFAS data, the total portfolio value of money market funds fell from TRY 3.581 trillion on August 31 to TRY 2.799 trillion on September 28. During the same period, money market funds recorded approximately TRY 642.8 billion in net investor outflows.
The dollarization rate in funds peaked at 47.4% in March 2024 before falling to 35.1% in January 2025. Although the rate climbed back to 40.1% as of September 2026, Bürümcekçi pointed to the denominator effect caused by the sharp outflows from money market funds, noting that the increase should not be interpreted as a new dollarization trend.
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