AKP Deputy Chairman in Charge of Economic Affairs Also Invested in Tera Fund

Investment funds are common vehicles that allow savers to manage their savings under professional management. However, when an investigation is launched into a fund's operations or a liquidation process is initiated, it does not remain merely a technical financial issue; it also opens up discussions regarding investors' access to information, risk perception, and the need for transparency toward the public.

The process surrounding Tera Portföy's TP2 fund is drawing attention for this reason. Allegations have surfaced that four companies in which AKP Deputy Chairman and former Minister of Economy Nihat Zeybekci is a partner invested in Tera Portföy's TP2 fund. In a statement to journalist Aytunç Erkin, Zeybekci confirmed this investment and described himself as "one of the 455,000 victims."

WHERE DOES RISK BEGIN IN INVESTMENT FUNDS?

Risk in fund investment is not limited to market price movements. The assets the fund invests in, how the portfolio is managed, the compliance of transactions with regulations, and the quality of information provided to the investor are also part of the risk. Therefore, for an investor, the practices and audit processes of the institution managing the fund are as important as the fund's name, type, and historical returns.

According to available sources, the TP2 – Tera Portföy Money Market (TL) Fund is listed in the Public Disclosure Platform (KAP) records as a money market fund managed by Tera Portföy Yönetimi A.Ş. Although money market funds are generally perceived as short-term and relatively low-risk instruments, this perception does not exempt the investor from asking questions about oversight and transparency.

The remarkable point in Zeybekci's statement emerges here. While acknowledging that his companies invested in the TP2 fund, Zeybekci argued that these investments were not related to speculative stocks. In his statement, he said, "We have no connection to a single speculative stock. Let alone manipulative stocks, we have not even had a penny of shares in large companies on the BIST 30."

WHY IS TRANSPARENCY A PUBLIC ISSUE?

An investigation or liquidation process regarding an investment fund can directly affect the financial situation of investors. However, the presence of names connected to politics, public office, or economic management in the process elevates the issue to a broader debate on public transparency. In such cases, not only the outcome of the investment but also the decision-making processes, the possibility of conflicts of interest, and the clarity of public statements become significant.

Zeybekci currently serves as the Head of Economic Affairs for the AKP and served as the Minister of Economy between 2015 and 2018. Therefore, his confirmation of investing in the TP2 fund shows that the group of investors affected by the fund investigation also includes a figure who has held high-level political responsibility in the field of economic policy.

It is stated that the Capital Markets Board (SPK) has decided to liquidate funds established by various portfolio companies, including Tera and Pusula. According to SPK data, there are 455,758 unique investors in the funds under liquidation. This number reveals that a problem related to funds can concern not only a limited number of large investors but a broad base of investors.

From an evergreen perspective, the fundamental lesson this event teaches investors is clear: when investing in a fund, focusing solely on returns is not enough. The structure of the fund, the history of the managing institution, public disclosure records, prospectus information, liquidity conditions, and announcements by regulatory bodies should all be monitored together. Transparency remains a fundamental element not only for the protection of the investor but also for maintaining confidence in the markets.