gazete Beta
Türkiye EN

News scope

  • Global
  • Türkiye
  • Russia
  • Middle East
  • Balkans
  • China

Language

You are reading Türkiye news in English.

MarketsUSD/TRY48.8428+0.01%EUR/TRY55.6906-0.44%BIST 10013,1230.00%Gram gold (TL)6,778-0.01%Central Bank (TCMB) policy rate38.00%Annual inflation (TÜİK CPI)31.51%-0.24%More

Language

Economy 6 sources

Tera Portföy declares default in two funds, payment periods extended in six funds

Published Updated

On the evening of September 16, as Borsa Istanbul (BIST) fell sharply, Tera Portföy declared a payment default in its THF and TP2 funds. Unit share value in six free funds, including TLY, will now be calculated on the 15th of each month, with sale proceeds paid on the 10th business day.

The new rules will apply to redemption requests after 13:31 on September 16. TLY has shares of over 102,000 investors worth 243.6 billion lira. The company said it made the regulation to manage intense redemption requests and liquidity risk.

Tera Portföy declares default in two funds, payment periods extended in six funds
Photo: Ekonomim

What do you make of this summary?

Complete Relevant Clear

Mentioned in this story

Sources 6 sources

Source spectrum State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign
EkonomimFirst to publish the story16 Sept, 20:23 Tera Portföy’ün iki fonu temerrütte, 6 fonunda para 10’uncu iş günü ödenecek Karar4th to publish the story16 Sept, 22:18 Pusula’nın ardından Tera Portföy’de kritik gelişme: İki fonda temerrüt, 6 fonda ödeme süresi uzadı Halk TV5th to publish the story16 Sept, 22:47 Fonları temerrüde düşen Tera Portföy Cumhurbaşkanı Erdoğan'a sığındı! Cumhuriyet6th to publish the story16 Sept, 23:20 Tera Portföy'ün fonları temerrüde düştü: Başkanından 'Erdoğan' ve 'spekülasyon' vurgulu açıklama geldi +2 +3 Cumhuriyet · 6th to publish the story BirGün · 3rd to publish the story Evrensel · 2nd to publish the story

Where reports differ

Independent press Ekonomim and Karar focused on the technical content of the disclosures, noting that the default does not mean the fund's collapse but that investors could not access their money within the expected timeframe, and that fund size data varied between 224 and 243 billion lira across different platforms.
Opposition-leaning press Cumhuriyet, Halk TV, BirGün and Evrensel highlighted a statement by Tera Holding Chairman Emre Tezmen referencing President Erdoğan and describing the process as a "speculative attack"; they presented Tezmen's defense of a "temporary liquidity shortage" with skepticism.

More news in Economy

Share this story

gazete share card
Card theme

Download