Assets of 130 funds belonging to seven portfolio management companies will be converted to cash, with the process to be completed within three months at most. Treasury and Finance Minister Mehmet Şimşek said, "There is no structural problem in the stock market or the fund market."
The market value of the funds is stated to have reached $17 billion, with approximately 550,000 investors affected. The largest share, $11 billion, is in Tera Portföy's funds. Tera Portföy announced that the assets will be converted to cash by İş Bank and payments will be made according to a plan.
