New Account Step from the Capital Markets Board for Exorbitant Profit Refunds

The Capital Markets Board has announced that special accounts have been established at the United Fund Bank to enable individuals who made exorbitant gains through investment funds under liquidation and on the stock exchange to make refunds.

Opening of Voluntary Refund Accounts

According to the announcement published by the Capital Markets Board, individuals who obtained exorbitant gains from fund sales in the period prior to the liquidation decision are now able to voluntarily refund these amounts.

Accordingly, it has been officially reported that special Voluntary Refund Accounts have been opened at the United Fund Bank on behalf of the Savings Deposit Insurance Fund.

Amounts to Be Included in Assets

All amounts deposited into these accounts will be directly included in the liquidation assets of the relevant fund and will not be transferred to any other account.

These collected amounts will be used for payments to participation share holders through the banks carrying out the liquidation duties.

Establishment of the General Stock Refund Account

A new step has been taken to meet the refund requests of individuals who made exorbitant profits due to transactions such as buying and selling shares of publicly traded companies.

In this context, it was announced that a General Stock Refund Account has been established at the United Fund Bank on behalf of the SDIF and that repayments will be received through this channel.

Interim Payment to Participation Share Holders

Interim payments will be made to all participation share holders whose reconciliation procedures have been completed for funds undergoing liquidation, to be deducted from the final amount.

It was stated that these payments will be made promptly and that the interim payment amount to be paid to each investor for each fund will not exceed 1 million lira.

Liquidation Processes of Portfolio Management Companies

In line with the determined framework, the liquidation procedures regarding the funds of Tera, Pusula, Atlas, Hedef, A1 Capital, Bulls, and Pardus Portföy Yönetimi AŞ have been clarified.

The liquidation processes and principles for the funds of these companies have been explained, and application steps have been determined for the relevant investors.