The Capital Markets Board (CMB) has updated its guide regarding investment funds. With the new regulation, the number of hedge funds that portfolio management companies can issue will be based on the number of portfolio managers employed within the company.
Accordingly, the number of hedge funds, including private funds, that a portfolio management company can issue will not be able to exceed the number of portfolio managers employed at the company.
Companies that currently have a number of hedge funds above the set limit have been granted until June 30, 2029, to comply with the new regulation.
In the guide, the minimum initial capital for portfolio management companies has also been set at 250 million TL and 500 million TL, depending on their authorizations. Furthermore, the sale of shares exceeding certain ownership ratios in companies has been restricted from being sold off-exchange, except for specific sales within a 12-month period.
News Source: 12punto
