The closed-period list of the mysterious fund has emerged: Who are the investors?

In the investigation conducted by the Istanbul Chief Public Prosecutor's Office regarding irregular transactions in financial markets, details concerning the investor structure of the Tera TLY Fund, managed by Tera Portföy, before it was opened to TEFAS, have been clarified by a MASAK report added to the file.

According to the report dated December 31, 2024, there were 11 investors in the fund's closed period, not 12 as rumored in the public eye. The report stated that 99.38 percent of the fund shares were under the control of Tera companies.

Accordingly, Tera Yatırım Menkul Değerler A.Ş. appears to hold 76.20 percent of the fund, while Tera Portföy Yönetimi A.Ş. holds 23.18 percent. The total share of nine individual persons was recorded as 0.62 percent.

SHARE DISTRIBUTION IN THE REPORT

The report also included information that there was a balance of 2 million 920 thousand 391 liras in the fund on behalf of Tera Portföy Yönetimi A.Ş.

Within the scope of the Capital Markets Board's (SPK) examinations, administrative fines were imposed on some companies and auditors due to non-compliance with regulations in financial reporting and auditing processes. A fine of 153 thousand 708 TL was imposed on Özen Taşınmaz Değerleme ve Danışmanlık A.Ş., and 91 thousand 883 TL on Ata Uluslararası Bağımsız Denetim ve SMMM A.Ş.

Under the SPK decisions, an administrative fine of 61 thousand 922 TL was issued to joint lead auditor Seyfettin Erol, and 30 thousand 961 TL to Ali Yürüdü. It was observed that Ali Yürüdü was also among the closed-period investors of the TLY fund.

The process regarding the Pusula Holding Closed Fund system, which constitutes another leg of the investigation, is also ongoing. It was reported that a group of 12 people, who were stated to have operated before TEFAS, is under scrutiny, and that Fatmagül Lafçı, Necmettin Enes Töbü, Engin Geylan, Niyazi Derindağ, Hacı Bayram Adıyaman, and Yunus Caf were detained in the third-wave operation on September 25.

It was stated that Pusula Holding Chairman of the Board Serdar Turhan and Pusula Portföy President Muhammet Yarız, who are mentioned in the file, are under arrest; while Selay Turhan İnce and Mehmet Salih Turhan are being sought. It was noted that judicial control and investigation processes regarding Ahmet Özcan and Mustafa Bor are continuing.

News Source: 12punto