SPK announced that it had updated the liquidation list and would make interim payments in connection with the liquidation of the funds concerned. The interim payment is defined as the investor’s net investment amount if it is below TL 1,000,000, and up to TL 1,000,000 if it is equal to or above that amount.
SPK explained the procedures for carrying out the liquidation process for the funds included in the updated liquidation list. The funds established by A1 Capital Portföy Yönetimi AŞ, Bulls Portföy Yönetimi AŞ and Pardus Portföy Yönetimi AŞ are covered.
The liquidation process will begin with investment funds whose names include the term “money market,” proceeding from those with the largest number of investors to those with the fewest.
Once liquidation is complete, funds whose purchases and sales are suspended on TEFAS and through non-TEFAS distribution channels may be reopened for trading. The founding portfolio management company will determine the reopening date and the terms for purchasing and selling participation units.
SPK also explained additional liquidation procedures and interim-payment rules for certain funds not covered by the liquidation. Interim payments will be made immediately for each investor, taking into account the net investment amount and units held, and no participation units will be returned in exchange for the interim payment.