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11 Articles
11 Articles
As seven funds worth hundreds of billions of Turkish Lira enter liquidation proceedings, attention has turned to the management, risk, and internal control teams behind these structures; 15 figures holding critical positions in the companies managing the Tera, Pusula, Hedef, Pardus, Atlas, and Bulls portfolios, including names like Emre Alkin, Namık Kemal Gökalp, and Serdar Altınbaş, have become the focus of public attention.
Tera Portfolio announced that following mass withdrawal requests reaching approximately 300 billion Turkish lira, payments were made in some funds, but payments could not continue due to transaction restrictions and blocks imposed on its Takasbank account on September 18.
Hedef Portföy, which claims that the 13 investment funds worth 31 billion Turkish Lira that have been put into liquidation do not have liquidity or default problems, informed the Public Disclosure Platform (KAP) that the sales orders were not executed due to being blocked by TAKAS bank.
Following recent developments in the fund market, investors' attention has turned to the liquidation process. The Capital Markets Board (SPK) has stated that the process could take up to six months. Uğur Korkmaz, Deputy News Editor at A Para, explained how the liquidation process will unfold and the details that investors are curious about.
Tera Portfolio Management announced that requests for the return of participation units to its funds have intensified dramatically in a short period of time, turning into withdrawal requests of approximately 300 billion TL. The company stated that liquidation and payment processes are ongoing.
Tera Portfolio managers announced that some of the numerous refund requests from investors have been fulfilled, but the payment process has been halted due to transaction restrictions imposed on accounts held at Takasbank (the Turkish clearing house). The statement emphasized that all available means are being used to ensure that rights are protected.
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