Investment and Pension Funds Suspended Due to Earthquake

Turkey’s number one agenda, Kahramanmaraş earthquakes parallel developments continues to live. In this context, an important statement came from the Capital Markets Board (CMB). Authorities, investment and pension fund purchases and sales have been stopped they announced.

When we look at the CMB’s statement, we see that the decision taken The closure of Borsa İstanbul We see that they are parallel. According to the statement, Turkey Electronic Fund Trading Platform (TEFAS) and Private Pension Fund Trading Platform (BEFAS), Borsa İstanbul will remain closed until it opens.

The statement made by the SPK is as follows:

“Borrowing instruments umbrella fund, money market umbrella fund, guaranteed/protective umbrella fund, funds issued under the precious metals umbrella fund, hedge funds with the phrases Foreign Exchange, money market and short-term in their titles, and funds with the phrase foreign in their titles, Funds affiliated to the umbrella fund, except for the funds with a certain asset group (lease certificate, gold, precious metals, money market) in their title, do not calculate the unit share value and stop the trading of participation shares.In this context, TEFAS transactions of these funds were also stopped.

For mutual funds and pension mutual funds whose share buying/selling transactions have been suspended, the first day of the stock market will be taken into account as the valuation date in the execution of share purchase/sell orders, the valuation date of which is 8 February.

So what are TEFAS and BEFAS?

One of the ways to invest is to buy and sell funds. The system, which is similar to buying and selling shares, has been used in previous years. to serious restrictions he had. A citizen who wanted to receive funds could only receive the funds of the bank he worked for. The Turkish Electronic Fund Trading Platform (TEFAS) made it possible to trade funds via the internet. Thus, the investor sold in non-working banks had easy access to funds.

Istanbul Settlement and Custody Bank A.Ş. Private Pension Fund Trading Platform (BEFAS) managed by pension mutual fund shares A platform that allows trading. Citizens who manage their private pension systems themselves, through BEFAS fund trades they can.