Şimşek: 43,000 fund investors receive payments

Speaking in Istanbul, Şimşek said the liquidation of 17 investment funds listed on the Turkish Electronic Fund Trading Platform (TEFAS) had been completed, with funds belonging to 43,000 investors transferred to the relevant banks. He stated that problems had affected a total of 131 funds, emphasizing that the situation was being taken seriously but that the measures implemented had largely addressed the issues. Şimşek also confirmed that three portfolio management companies were undergoing standard liquidation procedures.

Şimşek said comprehensive regulations had been introduced to prevent similar problems in the fund market, with additional measures planned. Highlighting the importance of the Capital Markets Board’s (SPK) fund guidelines in establishing a healthier market structure, he stressed that those responsible for market manipulation and disruptive activities would be held legally accountable. The minister stated that recent capital market developments did not pose a systemic risk and announced that a new legislative proposal would soon be submitted to the Turkish Grand National Assembly. His remarks underscored ongoing efforts to strengthen market supervision and regulation alongside investor repayments.