Minister Mehmet Şimşek: 131 Funds Put Into Liquidation Process by CMB

Minister of Treasury and Finance Mehmet Şimşek evaluated recent developments in the markets and announced that 131 funds operated by seven portfolio management companies have been included in the liquidation process by the Capital Markets Board.

Financial Stability Committee Meeting

Minister of Treasury and Finance Mehmet Şimşek stated that the Financial Stability Committee met under his chairmanship.

During the meeting, evaluations were made with representatives from the BRSA, CMB, Central Bank, and other relevant institutions to prevent the formation of any systemic risk in the market.

CMB Decision and Liquidated Funds

Recalling that the Capital Markets Board has the authority to regulate and supervise, total funds in Turkey were addressed.

It was noted that out of a total of 2,038 funds across Turkey, only 131 were within the scope of the decisions taken.

A total of 131 funds operated by seven portfolio management companies were put into the liquidation process by the Capital Markets Board.

No Systemic Risk Exists

Minister Şimşek underlined that there is no systemic risk whatsoever in the market.

It was stated that market-disrupting actions were detected in a very limited number of funds and necessary steps regarding them have been taken.

Status of the Fund Market

It was stated that the share of the intervened funds within the total fund accumulation is around 10 to 11 percent.

It was emphasized that 90 percent of the fund market continues to operate in a healthy manner.

Non-Bank Financial Sector

The process regarding Emlak Katılım's acquisition of Katılımevim and Birevim was also among the issues evaluated.

It was stated that efforts for additional measures in the non-bank financial sector are ongoing.