Statement on Hedge Funds from Treasury and Finance Minister Şimşek
Treasury and Finance Minister Mehmet Şimşek announced that following developments in hedge funds, there is no systemic risk and necessary steps have been taken.
Treasury and Finance Minister Mehmet Şimşek announced that following regulations regarding hedge funds, there is no widespread systemic risk in the market, and strong measures have been put into effect for a limited number of funds.
Financial Stability Committee Meeting
The Financial Stability Committee, convened under the chairmanship of Treasury and Finance Minister Mehmet Şimşek, evaluated the latest situation in the markets and economic measures.
Issues in a Limited Number of Funds
Minister Şimşek emphasized that the events stemmed from credit and liquidity problems in a limited number of funds, and that there is no structural problem in the stock market and fund market.
Hedge Funds and New Regulations
Touching upon the situation of hedge funds in Turkey, Şimşek stated that strict rules compared to the world were introduced with the fund guide announced at the end of August, and transition processes were envisaged.
CMB Liquidation Process and Market Impact
Stating that the 131 funds placed in the liquidation process by the CMB correspond to 10-11 percent of the total size, Şimşek expressed that the process will not put pressure on the stock market.