Turkey’s Capital Markets Board assigned 131 investment funds to Türkiye İş Bankası and Ziraat Bank for liquidation. The funds were managed by seven portfolio companies linked to an official investigation. Reports published on 18 September placed their assets above TRY890 billion, though snapshots varied by timing and source.
The Financial Times reported the 131-fund decision and the appointment of the two banks, while Turkish reporting described a three-month liquidation window unless extended. An earlier Anadolu report covered the previous day’s 130-fund decision, showing that the regulator’s mandate changed as the process developed. The final 18 September regulator bulletin was not publicly retrievable during verification.
BANKS WILL OVERSEE THE WIND-DOWN
İşbank and state-owned Ziraat were appointed to manage the orderly liquidation rather than to acquire the funds. The mandate places operational responsibility with two of Turkey’s largest banks while the authorities address funds connected to the investigation.
Published asset estimates ranged from roughly $17 billion to $18.3 billion, reflecting different reporting snapshots. The figures should therefore not be treated as directly comparable without the underlying valuation dates, while the 131-fund count represents the later reported regulatory action.
INVESTOR PAYMENTS DEPEND ON THE PROCESS
The liquidation will determine how fund assets are realised and proceeds distributed to investors. Reports indicated that about 300,000 investors could be affected, but individual outcomes will depend on portfolio valuations, liabilities and the administrators’ implementation.
The next milestone is publication of the formal liquidation timetable and any extension to the reported three-month period. Investors will also need updates from İşbank, Ziraat and the regulator on valuations, claim procedures and the timing of distributions.