Turkey's SPK extends fund liquidation period from 3 to 6 months

September 21, 2026 at 02:15 AM1 min

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Turkey's Capital Markets Board (SPK) extended the liquidation period for 131 investment funds from 3 to 6 months. The decision, published on September 20, 2026, follows the September 17 order to liquidate funds managed by seven portfolio management companies. The extension was granted due to portfolio structures and market developments.

Key Facts

The Capital Markets Board (SPK) extended the liquidation period for 131 investment funds from 3 to 6 months.
The decision was published in the SPK bulletin dated September 20, 2026, under decision number 59/1710.
The extension applies to funds established by seven portfolio management companies: Tera, Pusula, Hedef, Atlas, A1, Pardus, and Bulls.
Türkiye İş Bankası and Ziraat Bankası were authorized to manage the liquidation processes for the affected funds.
The original liquidation order was announced on September 17, 2026, with a maximum period of 3 months.

Extension Decision

The Capital Markets Board (SPK) extended the liquidation period for 131 investment funds from 3 to 6 months. The decision was published in the SPK bulletin dated September 20, 2026, under decision number 59/1710. The extension was granted due to the portfolio structures of the funds and market developments. The change amends the fund liquidation procedures announced in the SPK bulletin 2026/61 on September 17, 2026.

Affected Funds

The extension applies to funds established by seven portfolio management companies: Tera, Pusula, Hedef, Atlas, A1, Pardus, and Bulls. These funds were ordered to be closed to trading and liquidated under the SPK's September 17 decision. Türkiye İş Bankası was authorized to manage the liquidation of Tera Portföy funds, while Ziraat Bankası was authorized for the other six companies' funds. The banks now have up to 6 months to complete the liquidation processes.