Türkiye regulator orders liquidation of 130 funds from seven firms

Türkiye's Capital Markets Board (SPK) has ordered the closure and liquidation of 130 investment funds managed by seven portfolio management companies, suspending all trading on the Turkish Electronic Fund Trading Platform (TEFAS) as part of measures to safeguard investor interests following recent developments in Borsa Istanbul markets. The decision affects free funds and money market funds operated by Tera, Pusula, Hedef, Atlas, A1 Capital, Pardus and Bulls Portfolio Management.

The regulator will wind down five funds managed by Tera, 12 by Pusula, 31 by Hedef, 16 by Atlas, nine by A1 Capital, 15 by Bulls and 42 by Pardus, bringing the total to 130 vehicles. Purchases and redemptions have been suspended immediately for all designated funds, with the board set to determine the specific liquidation method.

Margin trading relief

The SPK also announced a temporary easing of the minimum equity maintenance ratio for margin transactions, reducing the requirement from 35% to 20%. Brokerage firms may apply the flexible minimum until the close of the trading session on Oct. 2, provided they adhere to internal risk policies and consider customer requests where possible.

The relief measure will remain in effect until the regulator issues a further announcement, the SPK said. The moves come amid ongoing efforts to protect investor rights and stabilize trading conditions on the exchange.