Turkish Regulator Orders Liquidation of Funds Managed by Seven Portfolio Companies
All TEFAS-traded investment funds established by Tera, Pusula, Hedef, Atlas, A1, Pardus and Bulls have been closed to transactions, according to Anadolu Agency.
Turkey's capital markets regulator has ordered the liquidation of investment funds managed by seven portfolio management companies, according to a report by Anadolu Agency.
The report identified the affected firms as Tera, Pusula, Hedef, Atlas, A1, Pardus and Bulls. All investment funds established by these companies and traded on the Turkey Electronic Fund Trading Platform (TEFAS) have been closed to transactions, Anadolu Agency said.
TEFAS is the centralized electronic platform in Turkey through which investors buy and sell shares of mutual and other investment funds.
Anadolu Agency did not specify the reasons behind the regulatory action or provide further details on the timeline for the liquidation process. The report also did not indicate the total value of assets held by the funds affected or the number of investors impacted.
This is a developing story, and further details are expected to emerge as the regulator provides additional information on the liquidation process.
Sources
- Turkish regulator orders liquidation of funds managed by 7 portfolio companies — Anadolu Agency (Turkey)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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