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TWF not for sale

March 18th, 2019
After the publication of the Communiqué Amending the Communiqué on Principles of Mutual Funds numbered III-52.1 (III-52.1.c) in the Official Gazette dated 12.03.2019 and numbered 30712, unsubstantiated reports regarding the sale of the Turkey Wealth Fund have emerged in the media.

In accordance with the related Communiqué, it is stated that in case of issuance of money and capital market instruments by the Turkey Wealth Fund in addition to the CBRT, Treasury and Finance Ministry and mortgage financing institutions, investment funds subject to the CMB will be exempted from the restrictions set out in the relevant paragraph for investments in these instruments.

The related Communiqué contains no indication of any sale of the Turkey Wealth Fund; the Communiqué provides a purely technical arrangement. Furthermore, there is no agenda regarding the sale of Turkey Wealth Fund. 

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