Fund Crisis Debates in Economic Press and Dünya Newspaper's Silence
While a major collapse caused by irregularities in money market funds shook the markets, allegations that the economic newspaper Dünya did not carry this issue to its headlines sparked debate.
While the fund crisis, which began with the collapse of money market and equity funds due to irregular transactions on September 15-16, continues to impact the markets, it was noted that the economic newspaper Dünya did not allocate sufficient space to this process on its pages and failed to feature the issue as a headline.
Impact of the Fund Crisis on the Market
The fund crisis, which started with the collapse of money market and equity funds—where the savings of hundreds of thousands of citizens are pooled—due to irregular transactions on September 15-16, has been causing a market pullback for over 15 days.
The toxic stocks held by the funds also drag down the stock-type savings in the stock market belonging to citizens who have never purchased funds.
Coverage in Dünya Newspaper
This process, which witnessed the largest declines including the 2008 crisis, cannot be read from the pages of Dünya newspaper, which is closely monitored by financial circles.
Since the day the fund embezzlement broke out, developments other than the monetary facilities provided to capital by public institutions were brought to the forefront.
Relationship Between Bulls Yatırım and Newspaper Management
The main partner of Bulls Yatırım, which has 15 funds among those decided to be liquidated, also serves on the board of directors of Dünya Holding and Dünya Newspaper.
Bulls Holding Founding Partner Neslihan Mumcu and Bulls Portfolio Managing Partner Ersoy Çoban are also among the critical finance executives serving on the newspaper's board of directors.
Capital Markets Board Decisions
While the Capital Markets Board (SPK) decided to liquidate 131 funds on September 17, 15 of these were managed by Bulls Yatırım.
When the funds collapsed, alongside the deepening losses starting from September 17, the fund embezzlement found a place on the front page of Dünya newspaper through declines in the stock market.
Editorial Policy and Reactions
While the declines continued throughout the month, losses were not voiced again until September 29, and it was generally emphasized that Bulls Yatırım had no issues regarding payments.
During the process where losses affecting millions of citizens deepened, questions regarding the scale of the embezzlement and where billions of Turkish Liras were remained unanswered.
Official Statements and Latest Developments
Featuring President Erdoğan's statements on September 30 regarding those who reach out for the property of the state and the nation, the newspaper did not directly focus on those responsible in the fund process.
Finally, its news included the transfer of five banks and factoring companies to the SDIF (TMSF) and the State Supervisory Council's involvement in the process.