Capital Markets Board Decision on Funds in Liquidation Process

The Capital Markets Board made a new statement regarding the orders of funds in the liquidation process. Accordingly, buy-sell orders transmitted via TEFAS on September 17 and canceled will be paid from the liquidation balance in proportion to participation shares as fund assets are converted into cash.

Payment Principles in Liquidation Process

The Capital Markets Board announced that it has moved to the second phase regarding payments concerning approximately half a million investors during the fund liquidation process. According to the statement, buy-sell orders transmitted via TEFAS on September 17 regarding the funds subject to liquidation had been canceled by the platform.

To Be Covered According to Participation Share Ratio

These canceled orders will be covered from the liquidation balance based on the proportion of participation share ownership in the fund. As liquidations progress and fund assets are converted into cash, payments will be made to the accounts of the beneficiaries.

September 17 Orders Canceled

All buy-sell orders placed on September 17 were canceled due to the closure of the funds on TEFAS that day. Orders on this date will not be considered executed, and payments will be made to investors in proportion to their shares.

Status of September 16 and Prior Orders

Orders submitted to TEFAS on September 16 and earlier will be processed according to the normal transaction value date. However, orders that could not be executed due to fund default or failure to announce prices were also included in the scope of liquidation.

Potential Risks for Investors

Experts warn that in cases where receivables cannot be collected due to asset erosion or defaults, investors may receive amounts much lower than their principal investments.