CMB decision for interim payments for funds in liquidation process
The Capital Markets Board has allowed investors in certain funds undergoing liquidation to receive interim payments without waiting for the final process. Following the decision, the Borsa Istanbul recorded gains, while 467.7 billion TL was withdrawn from money market funds.
The Capital Markets Board (CMB) has initiated an interim payment period for investors in funds under liquidation belonging to Tera, Pusula, Atlas, and Hedef Portföy. For investors whose reconciliation is complete, it is planned to pay the full amount if their net investment is below 1 million TL, and a maximum of 1 million TL if it is above that amount.
Within the scope of the regulation, the payments are aimed to be met in the first stage through the liquidation of the funds' own assets. Journalist Abdurrahman Yıldırım stated that there are approximately 455,000 investors in the funds under liquidation and that the government's involvement in the process supports market confidence.
Following the decision, the BIST 100 index gained 2.53 percent and closed the day at 12,249 points. On the other hand, a total of 467.7 billion TL was withdrawn from money market funds in the last two weeks. Additionally, the Central Bank raised the growth limit for SME loans from 4.5 percent to 5 percent.
Sources
- ekonomim.com · Link