CMB's statement on closed investment funds

The Capital Markets Board (CMB) published a press release regarding investment funds that were closed to trading on the Turkish Electronic Fund Trading Platform (TEFAS) and non-TEFAS distribution channels. The Board reported that some media outlets and social media channels made false statements regarding the reopening of the funds.

In the CMB's statement dated November 6, 2026, it was reminded that, with the Board decisions taken on September 17, 2026, 7 portfolio management companies were founded and all investment funds whose participation shares were traded in TEFAS were closed to purchase and sale in TEFAS and non-TEFAS distribution channels.

THE FUNDS OF 7 PORTFOLIO MANAGEMENT COMPANIES WERE CLOSED

Within the scope of the Board decisions, A1 Capital Portföy Yönetimi A.Ş., Atlas Portföy Yönetimi A.Ş., Bulls Portföy Yönetimi A.Ş., Hedef Portföy Yönetimi A.Ş., Pardus Portföy Yönetimi A.Ş., Pusula Portföy Yönetimi A.Ş. and Tera Portföy Yönetimi A.Ş., and that all investment funds traded in TEFAS were closed to purchase and sale transactions.

CMB reminded that in the Board Bulletin dated September 30, 2026 and numbered 2026/67, it announced that the liquidation procedures regarding the funds founded by A1 Capital, Bulls and Pardus portfolio management companies would be initiated on a priority basis.

CONDITIONS FOR RE-TRANSACTION OF FUNDS ARE ANNOUNCED

In the statement, it was stated that after the liquidation process of the funds in question is completed, the funds of the relevant portfolio management companies that are not within the scope of liquidation but are closed to purchase and sale can be reopened.

It was stated that these funds can be opened for simultaneous transaction for purchase and/or sale in all TEFAS and non-TEFAS distribution channels.

It was noted that the date on which the funds will be opened for transaction and the principles of buying and selling participation shares will be determined by the founding portfolio management companies, taking into account the structure of the fund portfolios, liquidity situation, market conditions and investor interests.

APPLICATION IS REQUIRED TO OPEN PROCESSING

CMB also explained the application process that must be followed in order for the relevant funds to be reopened.

Accordingly, A1 Capital Portföy Yönetimi A.Ş., Bulls Portföy Yönetimi A.Ş. and Pardus Portföy Yönetimi A.Ş.'s T.R. An application must be made to Ziraat Bankası A.Ş.

Stating that the applications in question should be forwarded to the Capital Markets Board by Ziraat Bank, CMB announced that the process of reopening the funds will be carried out in this way.