SPK Chairman Gönül: We Don't Care About the Tears of Those Who Do Wrong!

Capital Markets Are Growing

Capital Markets Board (CMB) Chairman İbrahim Ömer Gönül made significant statements at the 5th Portfolio Management Summit of the Turkish Institutional Investors Association (TKYD). Gönül emphasized the rapid growth in the portfolio management sector and the transformation in the fund ecosystem.

Fund Market Size: 11.2 Trillion TL

Gönül announced that as of November, 87 portfolio management companies manage a total fund size of 11.2 trillion TL in Turkey. Currently, among the funds in Turkey;

• 1,954 mutual funds
• 224 real estate investment funds
• 441 venture capital investment funds
• 390 retirement investment funds
• 28 exchange-traded funds

Additionally, the total values of the funds are recorded as follows: mutual funds 7.3 trillion TL, real estate investment funds 182 billion TL, venture capital funds 352 billion TL, retirement investment funds 2.1 trillion TL, and exchange-traded funds 284 billion TL.

Important Regulations and Goals

Gönül provided information about upcoming regulations aimed at simplifying financial reporting processes and strengthening digitalization. The reporting periods for investment funds have been reorganized, and duplicate notification obligations have been removed. Furthermore, there will no longer be a need to send the financial reports of real estate funds and venture capital funds to the CMB.

“We Do Not Look at Tears of Those Who Make Mistakes”

Gönül stated that all necessary regulations would be swiftly implemented to strengthen the fund ecosystem and elevate sector standards, emphasizing, “We do not look at the tears of those who make mistakes,” prioritizing investor confidence. It was highlighted that measures aimed at ensuring financial stability were discussed in meetings chaired by Minister of Treasury and Finance Mehmet Şimşek.