Fund crisis and sharp decline in Borsa Istanbul spark widespread coverage in international press

The sharp declines experienced in Borsa Istanbul due to liquidity problems in the fund market and Pusula Portföy's inability to meet its obligations made headlines in international media organizations.

Fund Run in International Press

The UK-based Financial Times newspaper reported that investors withdrew $1 billion from funds, stating that the BIST 100 index suffered consecutive value losses.

Analysts described these developments as effectively a fund run, with investors making mass exits from funds due to liquidity concerns.

Developments Regarding Pusula Portföy and Holding

Pusula Portföy's announcement that it could not meet redemption requests in some of its investment funds played a major role in triggering the sell-off wave.

It was reported that an agreement had previously been reached with Tera Group for the transfer of Pusula Holding and its affiliates, but the process remains subject to official approvals.

Steps Taken by Regulatory Authorities

The Capital Markets Board filed criminal complaints against numerous individuals in connection with transactions in certain stocks and imposed trading bans.

It was reported that a two-year trading ban was also imposed on Pusula Portföy, which is in the same group as Katılımevim.