CMB announces liquidation process for 131 funds

The Capital Markets Board (CMB) has announced the legal framework and the procedures and principles to be applied regarding the liquidation process of 131 investment funds belonging to 7 portfolio management companies.

According to the announcement in the Board's official bulletin, the total size of the funds under liquidation exceeds 800 billion liras. It was stated that the decision was taken following developments at Borsa İstanbul.

In its statement, the CMB reported that T. İş Bankası AŞ and TC Ziraat Bankası AŞ have been authorized as portfolio custodians during the liquidation process of the funds.

The implementation steps regarding the liquidation process are expected to be carried out within the framework of the procedures and principles determined by the Board.