Interim payment decision from CMB for investment funds in liquidation process

According to the statement made on the CMB's website regarding the funds in liquidation, an additional liquidation procedure has been determined to the general principles regarding the liquidation process of the funds founded by Tera, Pusula, Atlas and Hedef Portföy Yönetimi AŞ.

In this context, an interim payment will be made immediately to all shareholders whose reconciliation procedures have been completed for the funds whose liquidation process is ongoing, to be offset from the final amount they will be entitled to as a result of the liquidation.

In calculating the interim payments in question, the net investment amounts to be determined for each beneficiary by Central Registry Agency AŞ (MKK) within the scope of the relevant reconciliation results will be taken as basis.

The interim payment amount to be paid to each investor separately for each fund will not exceed 1 million lira. In this context, this amount will be paid for investors with a net investment amount of less than 1 million lira, and a maximum of 1 million lira will be paid to investors with a net investment amount of 1 million lira and above.

No participation fee will be refunded in return for interim payment, and the participation fee in question will be refunded during the final liquidation payments. It was decided that this additional liquidation procedure would be implemented, starting with money market funds.

The liquidation process will begin with money market funds, and attention will be paid to the number of investors.

On the other hand, CMB took some decisions regarding the funds founded by A1 Capital, Bulls and Pardus Portföy Yönetimi AŞ, which are on the liquidation list.

Accordingly, the liquidation process will be carried out by the funds listed from the highest to the lowest number of investors, starting from the investment funds with the phrase 'money market' in their title.

Although not within the scope of liquidation, funds whose trading transactions have been suspended in TEFAS and non-TEFAS distribution channels in accordance with the Board decisions of September 17, can be reopened for purchase and/or sale simultaneously in all distribution channels following the completion of the liquidation process.

At this stage, the transaction opening date and fund participation share trading principles will be determined by the relevant founding portfolio management company, taking into account fund portfolio structures, liquidity, market conditions and investor interests.

In order to ensure that the liquidation transactions can be carried out properly and promptly, those who have carried out capital market transactions with funds included in the scope of liquidation from funds that are not within the scope of liquidation but are closed to trading may be reopened to purchasing and selling in all distribution channels by the bank assigned to the liquidation transactions, without waiting for the completion of the liquidation process specified in the second article.