Bloomberg HT1 hour agoBusiness1 min readTürkiye

62.2 billion TL was paid in extraordinary fund liquidations

In the extraordinary liquidation, 62.2 billion lira was paid to 390 thousand 219 investors, and in the ordinary liquidation, 55.4 billion lira was paid to 55 thousand 821 investors.

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It was reported that 62.2 billion liras were paid to 390 thousand 219 investors within the scope of extraordinary liquidation, and 55.4 billion liras were paid to 55 thousand 821 investors within the scope of ordinary liquidation.
The entire principal amount was covered for 133 thousand 839 investors.

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Why It Matters

Liquidation and payment transactions of investment funds are carried out in the Turkish Grand National Assembly within the framework of the Law No. 7596 dated October 22 and the decision of the Capital Markets Board dated October 27 and numbered 76/1903.

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During the liquidation process of the funds, 62.2 billion liras were paid to 390 thousand 219 investors within the scope of extraordinary liquidation.

According to the information obtained, interim payments continue to be made to investors in line with the Law on Certain Investment Funds That Have Been Decided to Liquidate, dated October 22, numbered 7596, adopted by the Turkish Grand National Assembly, and the decision of the Capital Markets Board (CMB), dated October 27, numbered 76/1903, which determines the procedures and principles regarding liquidation and payments.

In this context, it was learned that a total of 62.2 billion lira was paid to 390 thousand 219 investors during the extraordinary liquidation process. It was stated that the principal amount of 133 thousand 839 of the investors in question was fully covered.

On the other hand, it was reported that a total of 55.4 billion lira was paid to 55 thousand 821 investors within the scope of ordinary liquidation.

Open Questions

When will the liquidation process be completed?
When will the remaining investors be paid?