650 investors pulled 227 billion lira from Turkish funds before liquidation

October 5, 2026 at 03:49 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

On September 17, 650 investors withdrew 227 billion lira from 131 funds managed by seven portfolio companies just before their liquidation was ordered. The withdrawals reduced total fund value from 349.6 billion lira on September 16 to 122.5 billion lira the next day. Economist Sabri Öncü published the data, prompting calls for the names of those who allegedly acted on inside information.

Key Facts

On September 17, 650 accounts withdrew 227,126,806,000 lira from the affected funds, an average of about 350 million lira per account.
Total fund value fell from 349,638,487,000 lira on September 16 to 122,511,681,000 lira on September 17.
Between September 2 and October 2, total fund value dropped from 465,718,911,000 lira to 101,060,933,000 lira, a decline of 364,657,977,000 lira.
The number of fund accounts fell from 329,215 to 328,565 on September 17, while only 26,368 accounts exited over the full month.
Economist Nazır Kapusuz questioned whether the 650 investors were part of a party-linked fund or WhatsApp group and called on them to report to President Erdoğan.

The Withdrawal

On September 17, the day the liquidation of 131 funds was ordered, 650 accounts withdrew 227,126,806,000 lira from seven portfolio management companies. The previous day, September 16, these independent portfolio companies held a total fund value of 349,638,487,000 lira. By September 17, the total had fallen to 122,511,681,000 lira, a drop of 227,126,806,000 lira. The number of accounts in the funds declined from 329,215 to 328,565 over the same period. This implies that each of the 650 accounts withdrew an average of about 350 million lira.

Monthly Fund Outflows

From September 2 to October 2, total fund value in these companies fell from 465,718,911,000 lira to 101,060,933,000 lira. The total outflow over that month was 364,657,977,000 lira. However, the number of accounts that exited the funds during the full month was only 26,368. Economist Sabri Öncü shared a table of fund values and account numbers for the September 2–October 2 period.

Calls for Disclosure

Economist Nazır Kapusuz noted that on September 17 the fund value fell to nearly one-third of the previous day's level. He said the average withdrawal of 350 million lira per person shows the funds were rescued before liquidation. Kapusuz asked whether the 650 investors were part of a party-linked fund or WhatsApp group and suggested they should report to President Erdoğan. He claimed that none of the 650 would inform Erdoğan and described them as 'the three beys of the Erdoğan regime'.