Murat Sağman Warns of Fund Crisis and Payment Schedule

Osmanlı Yatırım Board Advisor Murat Sağman drew attention to the uncertainties in the liquidation process of troubled funds and stated that the payment schedule must be clarified.

Osmanlı Yatırım Board Advisor Murat Sağman made evaluations regarding the uncertainty in the liquidation process of troubled funds. Pointing out that payments have remained limited despite approximately one month passing since the start of the liquidation, Sağman emphasized that the expression "as soon as possible" in the Economic Coordination Board statement does not provide a clear payment schedule. Uncertainty persists regarding when investors will receive payments, even though a month has passed in the fund liquidation. The fact that payments have so far remained limited since the beginning of the liquidation raises question marks regarding the timeline of the process.

Sağman stated that the uncertainty in the liquidation process is not just an issue concerning fund investors, but also affects trading volumes on the stock exchange and investor behavior. He pointed out that investors may remain cautious until clarity is achieved regarding the resolution of the problem. Evaluating foreign investors' approach to the Turkish market alongside developments in fund liquidation, Sağman expressed that MSCI's decision to keep Turkey under review could strengthen foreign investors' wait-and-see attitude.

Assessment: Sağman emphasized that the difference in risk between fund types should be taken into account during the liquidation process. Stating that money market and liquid funds should not be evaluated within the same framework as equity funds, Sağman called for the acceleration of payments in liquid funds. He stated that the risk structure of liquid funds is specific and low-risk, and therefore these funds must be paid out very urgently.