Atlas Portfolio extends fund withdrawal payments to five business days
Following Pusula Portfolio, Atlas Portfolio has also decided to extend withdrawal payments in mutual funds, while Piramit Portfolio utilized a credit line for liquidity needs.
Immediately following Pusula Portfolio's default announcement, Atlas Portfolio announced that it has postponed withdrawal payments in mutual funds to five business days after the request date. Meanwhile, Piramit Portfolio reported via the Public Disclosure Platform (KAP) that it has utilized a loan to meet its cash needs.
Withdrawal payment period extended
Following Pusula Portfolio's default announcement the previous day, a new development has taken place in the financial markets. Atlas Portfolio publicly announced that withdrawal payments in mutual funds will now be made five business days after the request, rather than two business days.
Official announcement via KAP
In the official statement made by Atlas Portfolio to the Public Disclosure Platform (KAP), reference was made to the Capital Markets Board's decision dated August 28. It was stated that the new regulation was implemented to manage the liquidity risk of the fund portfolio.
New valuation and payment schedule
Within the scope of the practice, the fund unit share value will be calculated once a month on the fifteenth business day of the month. While participation share redemption orders will be accepted every business day, the relevant amounts will be deposited into investors' accounts on the fifth business day following the valuation date.
Credit move from Piramit Portfolio
While developments in the process were not limited to these, Piramit Portfolio also made a separate notification to KAP. The company took a step to resolve the negative balance of the PHF-Piramit Portföy BIST Non-50 Companies Equity Free Fund.
Loan details shared
Piramit Portfolio announced that in order to meet its cash needs, it utilized a loan from Yatırım Finansman on September 16, 2026, with a maturity date of September 17, 2026, and an amount of 63 million 253 thousand 333.24 Turkish Liras. It was stated that the transaction was carried out with an interest rate of 44 percent.