Turkey's SPK liquidates 131 defaulted funds, including Tera Portföy money market fund

Turkey's capital markets regulator SPK is liquidating 131 defaulted funds, including Tera Portföy's money market fund, affecting 353,000 investors and about $18.3bn in assets, of which $7.5bn sits in Tera funds. The funds are tied to a scheme involving illiquid securities of affiliated companies; 51 people have been detained.

Detected & updated continuously · Source: Nebula