While discussions surrounding liquidity problems and defaults in the fund market continue, a high-value withdrawal from a fund belonging to a private bank has drawn attention. According to information obtained, while the total assets in the fund account, which had 8 investors, were at the level of 52 billion 886 million TL, the size of the fund dropped to 7 billion 418 million TL after one of the investors withdrew all their money from the system.
Based on this calculation, it was stated that a single investor withdrew approximately 45 billion TL from the fund in one day. It was noted that following the transaction, the total size of the fund in question decreased by approximately 86 percent.
The development comes at a time when discussions regarding the fund market have intensified following the process that began with the detention of Pusula Portföy Chairman of the Board Muhammed Yarız.
The Capital Markets Board (CMB) had announced in a statement following liquidity problems and defaults in some funds that 131 funds belonging to 7 companies would be liquidated. It had been reported that there were over 830 billion liras in assets in the funds under liquidation.
It was stated that two banks were appointed to convert the assets belonging to Tera Yatırım, Pusula Portföy, Hedef Holding, Atlas Portföy, A1 Capital Portföy, Pardus Portföy, and Bulls Portföy into cash, and that the liquidation period was extended from three months to six months. The high-value withdrawal also became a subject of discussion on social media.
News Source: 12punto
