Legal regulation from the Turkish Parliament for liquidated investment funds
The 9-article bill aiming to resolve grievances in certain liquidated investment funds has been enacted in the General Assembly of the Grand National Assembly of Turkey (GNAT).
The Bill on Certain Investment Funds Decided to Be Liquidated was approved in the General Assembly of the GNAT and became law. Consisting of 9 articles, the regulation covers special provisions for funds whose liquidation was decided by the Capital Markets Board (CMB) decisions dated September 17, 2026, and matters regarding making intermediate payments of up to 1 million TL to eligible individual investors.
The 9-article bill covering funds whose liquidation was decided by the Capital Markets Board's decisions dated September 17, 2026, was approved in the General Assembly of the GNAT. The liquidation process will be carried out under the supervision and audit of the CMB, and the process of converting assets into cash will be managed by authorized institutions. With the law, it was made possible to sell fund assets outside the stock exchange and to use alternative methods such as buyback or sale to the controlling shareholder.
Within the scope of the regulation, it was decided to make priority and intermediate payments of up to 1 million TL to eligible individual investors. This amount will be paid to investors whose net investment amount is below 1 million liras as much as this amount, and a maximum of 1 million liras will be paid to those above it. It was announced that the net investment amount will be calculated by updating with the arithmetic average of CPI and D-PPI change rates. In addition, investors in the TEFAS Transaction Blockage Sub-Account will also be able to benefit from the liquidation provisions.
No payments will be made to individuals determined by the CMB to have been involved in market fraud, insider trading, or market-disrupting actions. The portfolio management company, which is the founder or manager of the fund, will be held primarily responsible for damage and loss. While obligations were imposed on institutions such as MKK, Takasbank, and Borsa İstanbul regarding the sharing of information and documents related to the liquidation process, it was stipulated that these institutions cannot refuse information sharing.