Türkiye EN

News scope

  • Global
  • Türkiye
  • Russia
  • Middle East
  • China

Language

You are reading news about Türkiye in English.

Language

Şimşek: troubled portfolio managers and funds quarantined

Photo: Bloomberg HT

Latest in the series Erdin Ozel and Emir Munir Sarpyener arrested in fund probe

Turkish Treasury and Finance Minister Mehmet Şimşek said troubled portfolio management companies and related funds had been quarantined, and a liquidation and resolution process had begun.

Şimşek said the aim was to stop contagion spreading to the rest of the system, and he thought they had largely succeeded. He spoke at S&P Global's Global Emerging Markets Conference.

Şimşek: troubled portfolio managers and funds quarantined

Sources 2 sources

Source spectrum State State Conservative Conservative Independent Indep. Opposition Opp. Foreign Foreign
Bloomberg HTFirst to publish the story1 Oct, 19:16 Şimşek: Sorunlu portföy yönetim şirketlerini ve fonları karantinaya aldık Gazete Oksijen2nd to publish the story1 Oct, 21:08 Bakan Şimşek: Sorunlu portföy yönetim şirketlerini ve fonları karantinaya aldık

Fund Investigation News Series

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

  1. Erdin Ozel and Emir Munir Sarpyener arrested in fund probe Tera Portfolio Board Chairman Erdin Ozel and Tera Investment CEO Emir Munir Sarpyener were arrested in the fund investigation. The number of arrested suspects in the probe rose to 58.
  2. Treasury bonds in Tera funds put up for sale Treasury bonds in Tera Portföy funds are being put up for sale under the liquidation decision of the Capital Markets Board (SPK).
  3. Şimşek: troubled portfolio managers and funds quarantined Turkish Treasury and Finance Minister Mehmet Şimşek said troubled portfolio management companies and related funds had been quarantined, and a liquidation and resolution process had begun.
  4. Turkish savings fund exercises rights over 99.99% stake in bank The Savings Deposit Insurance Fund (TMSF) decided to exercise shareholder rights, excluding dividends, attached to Destek Finans Faktoring's 99.99% stake in Destek Yatırım Bankası. The company's board members and general manager were dismissed.
List all (109)

Mentioned in this story

Share this story

gazete share card
Card theme