Fund Crisis Warning from JPMorgan for Turkey's Growth Forecast
While 131 funds are being liquidated in the fund crisis affecting half a million investors, JPMorgan reported that this situation poses risks to economic growth forecasts.
As the investment fund crisis affecting approximately half a million investors in Turkey deepens, a total of 131 funds have entered the liquidation process, and JPMorgan announced that these developments create downside risks to the 2026 growth forecasts.
Crisis and Liquidation Process in the Fund Sector
Within the scope of the crisis that erupted in Turkey's investment fund sector, a total of 131 funds were taken into liquidation and approximately half a million investors were affected by this process.
JPMorgan's Growth and Economy Warning
Analysts at the US-based investment bank JPMorgan stated that the turmoil in the sector could have economy-wide consequences and poses significant downside risks to the projected 3 percent GDP growth forecast for 2026.
Effects on Borsa Istanbul and Markets
The ongoing process caused sharp losses in capital markets and Borsa Istanbul, with the Borsa Istanbul main index posting its worst monthly performance since 2008 in September.
Steps to Prevent Panic and Index Movement
In order to limit panic in the markets, some of the stocks most affected by the crisis were removed from the indices, and following these regulations, the Borsa Istanbul main index closed Thursday up by 2.5 percent.
Payment Plan Announced by the CMB
While the Capital Markets Board announced that liquidation procedures could take up to six months, it was projected that the full amount would be paid to those with a net investment of less than 1 million TL, and an interim payment of 1 million TL in the first stage to those with 1 million TL and above.
Special Accounts Opened by the SDIF
The Savings Deposit Insurance Fund created special accounts for those who want to voluntarily return amounts qualified as excessive gains derived from pre-liquidation fund sales.
Asset Size and Actual Loss Status
While the total asset size of the funds within the scope of liquidation exceeding 20 billion dollars does not directly mean an investor loss, the prices at which low-volume assets will be converted into cash will determine the actual loss.