20.10.2026 13:32
Minister of Treasury and Finance Mehmet Şimşek announced that hundreds of individuals and companies that earned real gains of 10 million TL or more in the fund investigation will be called to make voluntary repayments. Stating that legal proceedings will be initiated against those who do not accept the repayment, Şimşek announced that 66 of 131 funds have been liquidated and that 40.8 billion TL has been paid to 45,747 accounts. In addition, the aim is to accelerate payments to investors with claims of up to 1 million TL.
Minister of Treasury and Finance Mehmet Şimşek made striking statements regarding fund liquidations in a joint broadcast on Habertürk and Bloomberg HT. Stating that a new phase would begin to recover gains obtained from funds, Şimşek said that individuals and companies that obtained real gains of 10 million TL or more above inflation would be contacted.
THE DOOR WILL BE KNOCKED ON FOR THOSE EARNING 10 MILLION LIRA AND ABOVE
Şimşek stated that a few hundred individuals and companies would be invited to voluntarily return the funds, and used the following statements:
“There is a certain amount of payment. As for the important source, those who obtained real gains retrospectively above a certain amount above inflation, initially 10 million lira and above, will be contacted. Therefore, in this respect, there are also a few hundred companies and individuals. They will be invited; there may be a situation of participation in manipulation; if they return voluntarily, there is no problem; if they do not, legal proceedings will be initiated.”
THE ASSETS OF THOSE WHO DO NOT RETURN FUNDS ARE ALSO ON THE AGENDA
Şimşek emphasized that recovering gains unlawfully obtained from funds is among their priorities.
In this context, he stated that personal assets of persons determined to have made gains by acting together could also be pursued.
Stating that the resources to be recovered would be used in payments to investors, Şimşek said it was highly likely that investors would be able to recover the principal they invested. However, he noted that payments could vary depending on the status of the funds.
1 MILLION TL PAYMENT FOR 390 THOUSAND ACCOUNTS
Şimşek, explaining that priority would be given to small investors during the liquidation process, reported that after the prepared legal regulation passes Parliament, the aim is to accelerate payments of up to 1 million TL.
Şimşek said, “If there is payment capacity of up to 1 million lira, 390 thousand accounts will be cleared,” drawing attention to the contribution the regulation would make to the liquidation process.
Emphasizing that the process would be carried out without using public resources, Minister Şimşek stated that the final liquidation could take time.
40.8 BILLION TL PAID TO 45,747 ACCOUNTS
Şimşek also shared the latest situation in fund liquidations and announced that a total of 131 funds and 7 portfolio management companies had been included in the liquidation scope.
According to information provided by Şimşek, while 66 funds were subject to ordinary liquidation, the liquidation processes of A1, Pardus and Bulls were completed.
Within the scope of completed transactions, a total of 40.8 billion TL was paid to 45,747 accounts.
Money market fund investors obtained an additional return of 1.43 percent based on their values on September 17, while in equity-weighted funds, due to falling prices, investors could be paid approximately 58 percent.
NEGOTIATIONS WITH ATLAS PORTFÖY ARE ONGOING
Şimşek, noting that there are 31 funds within Hedef Portföy, said that the aim is to complete the company’s ordinary liquidation process.
Reporting that Tera, Pusula and Atlas are within the scope of extraordinary liquidation, Şimşek announced that Atlas Portföy managers are conducting negotiations with the TMSF.
Stating that Atlas Portföy has demonstrated the will to bring back resources taken abroad, Şimşek expressed that negotiations are continuing and the public would be informed after the SPK’s decision.
“WE WILL NOT LEAVE THIS FIELD TO FRAUDSTERS”
Şimşek announced that new regulations would be prepared to prevent similar problems from occurring again in capital markets, and said that sanctions against coordinated transactions and trading carried out with insider information would be strengthened.
Arguing that opening hedge funds to investors through TEFAS was a factor in the problems experienced, Şimşek said, “The risks the wealthy took with their own money—if hedge funds had not been opened to TEFAS, this problem would not have occurred.”
Şimşek emphasized that market surveillance would be supported by technological infrastructure and advanced algorithms, deficiencies in legislation would be addressed, and necessary steps would be taken to prevent a similar fund crisis from occurring again.