In his motion, Ahmet Şık stated, "Following the Capital Markets Board's recent regulations concerning investment funds, there have been intense redemption requests in the funds of several portfolio management companies, most notably Pusula Portföy and Tera Portföy; defaults have occurred in some funds, and redemption periods have been extended in others. These developments have led to sharp declines on Borsa Istanbul, shaken investor confidence, and increased concerns regarding systemic risk in the market. In particular, the fund structures concentrated in illiquid stocks, unusual price movements, and allegations regarding rapidly growing portfolio management companies have caused widespread public debate."
Şık stated, "Clarifying the extent of investor grievances, the adequacy of audit processes, the timing of regulations, and allegations of potential market manipulation, as well as whether any public authority is involved in this network of relationships, is essential both within the scope of the public's right to information and for determining from whom and how citizens' losses can be compensated."
In his motion, Ahmet Şık included the question, "Following the default in Tera Portföy's Equity (TL) Fund and Money Market (TL) Fund, the extension of redemption periods in 6 funds, and the decision to keep them closed during this process, how many investors have been affected? What is the total amount of redemption requests? When will payments be completed? Of the more than 130 billion TL that has exited the relevant funds since the end of August, how much belongs to retail investors and how much to institutional/major investors?"
Stating that "It is alleged that the individuals involved in many of the actions and transactions listed here, for which measures taken have proven insufficient, have used their influence to continue these actions and transactions," Ahmet Şık posed the following questions:
"Indeed, a structure emerges that extends from those who have served on the Presidential Academic Advisory Council (Prof. Dr. Emre Alkin) to those who have served as ambassadors (Prof. Dr. Kerem Alkin), from those who have served as Chief Advisor to the President (Fecir Alptekin), to individuals who have held management positions at the Central Registry Agency (MKK), as mentioned above. In this state, will there be an investigation into whether those involved in the transactions used their influence?
Numerous reports have appeared in the public domain regarding countless citizens who were subjected to detention and lawsuits the moment they filed complaints about these companies, warned other citizens, wrote critical articles, or issued other warnings. Furthermore, it is publicly known that access-blocking orders were issued at lightning speed regarding public statements or social media posts by individuals who are authorized on the subject and have previously held positions in important institutions. Is this information true? If the opinions in question do not pose a danger to bureaucratic or state security, how exactly could these warnings be blocked through the judiciary?
Again, looking at the allegations raised regarding the closed period of the TLY-coded fund, which broke profitability records, within the findings and audits of the CMB and relevant institutions; it is alleged that individuals who hold authority directly within your government, such as Minister of Justice Akın Gürlek, Presidential Advisor Hasan Doğan, ICTA member and former Deputy Minister of Culture and Tourism Batuhan Mumcu, and AKP MP Mehmet Ali Çelebi, or names who have held bureaucratic jobs and duties and occupied critical positions, such as Hüseyin Emre Sezer and Alper Özbilen, were personally involved in the closed period of this fund, either on their own behalf or through their relatives/acquaintances. Is an investigation being conducted into whether these names or other names within the framework of politics and bureaucracy were involved in the closed period of this fund? Is there a possibility that the actions and transactions in question were carried out based on the political influence of these individuals who are alleged to be investors?
Is it being investigated whether the transactions made regarding Tera Portföy funds and related funds through foreign-origin companies, primarily in Luxembourg, are suspicious?"
Şık also requested answers to the following questions:
"When will the portfolio breakdowns of the relevant funds, the records of the custodian institution (Takasbank), and the details of the redemption requests be shared with the public?
Are there any major investors who exited these funds before the August 28, 2026 regulations? Who are they? Do these individuals have any ties of proximity to your Ministry or CMB executives?
What legal/regulatory changes are planned in the investment fund legislation (free funds, money market funds, liquidity rules, concentration limits) to prevent similar incidents?
News Source: 12punto
