The SPK announced the payment procedures and allocation rules for 3 mutual funds in liquidation. Interim payments are capped at TL 1,000,000 per investor, with payments beginning primarily from “money market funds.”
The SPK disclosed the payment procedures and criteria associated with the liquidation of mutual funds established by Tera, Pusula and Atlas. Under the distribution and payment framework, interim payments will be made to investors within the limits of available funds.
Interim payments are capped at TL 1,000,000 per investor. The actual payment will be calculated using the lower of the net investment amount and this cap. If funds are insufficient, the lower criterion will be applied for each eligible person.
Priority payments will begin with funds labelled “para piyasası.” For other funds, the order will be determined according to their ability to pay relative to the total available cash. If the available cash is sufficient to cover the total payment amount, final payments may be made instead of interim payments.
Those excluded from payment include individuals and institutions that engaged in conduct distorting the market, acquired non-public information or provided false information. These facts are based on the SPK's notice.