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Fund board says 6.4 billion liras paid to 43,643 investors
Türkiye’s Fund Coordination Board, chaired by Vice President Cevdet Yılmaz, said 6.4 billion liras had been paid to 43,643 investors in funds run by A1, Bulls and Pardus, with a total 40.5 billion-lira liquidation targeted for completion by the end of the week.
Türkiye’s Fund Coordination Board held its fifth meeting under Vice President Cevdet Yılmaz, with the justice and treasury and finance ministries and related institutions taking part, the Directorate of Communications said.
State lender Ziraat Bank last week paid a total of 6.4 billion liras to 43,643 investors in funds managed by A1, Bulls and Pardus, according to the statement. The liquidation of the remaining 49 funds of the three companies, worth 34.1 billion liras, is targeted for completion by the end of this week.
That would complete the in-kind and cash liquidation of 40.5 billion liras for 45,745 people across 66 investment funds of the three firms, the board said.
Bill before parliament
Interim payments for 65 other funds in liquidation are expected to be completed quickly once a bill now in parliament becomes law, the board added. The bill, submitted on Oct. 9, aims to give legal certainty to the liquidation process and payments in funds that the Capital Markets Board decided to liquidate; it is expected to be debated in parliament’s Plan and Budget Committee on Oct. 14.
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