Question 1: Which investment funds are within the scope of liquidation?
Answer 1: Among the funds included in the scope of liquidation with the decisions of the Board dated 17.09.2026, the investment funds founded by Tera Portföy Yönetimi AŞ, Pusula Portföy Yönetimi AŞ and Atlas Portföy Yönetimi AŞ.
Question 2: Which organizations will carry out the liquidation process?
Answer 2: The liquidation process will be carried out in cooperation with relevant public institutions and financial institutions under the coordination of the CMB. The liquidation of the funds founded by Pusula Portföy Yönetimi AŞ and Atlas Portföy Yönetimi AŞ was approved by the Republic of Turkey. The liquidation of the funds founded by Ziraat Bankası AŞ and Tera Portföy Yönetimi AŞ will be carried out by Türkiye İş Bankası AŞ.
Question 3: Which funds will have priority in interim payments?
Answer 3: Interim payments will start primarily from investment funds with the phrase "money market" in their titles.
Question 4: Will there be indexation in the interim payment and what will be the maximum payment?
Answer 4: The amount of interim payment to be made to fund shareholders on a fund basis cannot exceed the net investment amount calculated by the Central Registry Agency (CRA) without indexation and/or 1 million TL.
Question 5: How will the payment be made if the calculated distributable cash does not cover the net investment amount and/or the entire interim payment amount?
Answer 5: Interim payments will be made to fund participation share holders, provided that they do not exceed the lowest of the following: "net investment amount", "the amount calculated as of the end of the day before 17.09.2026, which is the liquidation decision date for money market funds", "the amount calculated as of the end of the day before the date on which the interim payment amount is calculated for other funds", "1 million TL interim payment ceiling".
Question 6: Will all investors be paid the same amount?
Answer 6: The interim payment amount of each investor will be determined within the framework of the relevant calculations and the limits stipulated in the legislation. If the fund's distributable cash is not sufficient to cover all interim payment obligations, different distribution methods can be applied to ensure that existing resources reach a larger number of investors. In this context, a payment order can be created by taking into account the interim payment amounts of investors on a fund basis, or a minimum interim payment amount can be determined to ensure payment to the largest number of investors possible. The implementation of this method will be subject to the approval of the CMB.
Question 7: In which case will the interim payment be the final payment?
Answer 7: If the distributable cash obtained as a result of converting the assets of any of the funds within the scope of liquidation into cash is sufficient to cover the total amount calculated on the basis of the fund unit share price and the number of participation shares basis for payment as of the end of the day before the liquidation decision, the final payment will be made to the fund shareholders instead of an interim payment.
Question 8: Will investors' fund participation fees be refunded when the interim payment is made?
Answer 8: Interim payments will be made without refunding investors' participation fees. The refund of participation shares will be made during the final liquidation payments.
Question 9: Who will not be paid in liquidation and interim payment?
Answer 9: If the acts regulated in Articles 104, 106 or 107 of the Capital Markets Law are committed by the funds within the scope of liquidation or by acting together with these funds or with the participation of the funds, no payment will be made from the liquidation and recovery account to the persons and institutions who are determined by the CMB to have committed the said acts or acted together with them and who are notified by the MKK to the institutions in charge of liquidation.
Question 10: How will the amounts transferred to general share return accounts be distributed to the funds within the scope of liquidation?
Answer 10: First of all, money market funds with the lowest coverage ratio in terms of interim payment obligations and the highest number of investors with a net investment amount below 1 million TL will be prioritized. The distribution will be carried out in a way that ensures that as many investors as possible receive interim payments. If any amount remains in the relevant account after this transaction, the same principles will be applied to other funds.
