SPK President Gönül: We Won't Care About the Tears of Those Who Make Mistakes!

Capital Markets Are Growing

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

Fund Market Size 11.2 Trillion TL

Gönül announced that as of November, a total of 87 portfolio management companies are managing 11.2 trillion TL in funds in Turkey. Today, among the funds in Turkey;

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

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

Important Regulations and Goals

Gönül provided information about the regulations to be made to simplify financial reporting processes and strengthen digitalization. The reporting periods for investment funds have been redesigned, and duplicative reporting obligations have been removed. Additionally, there will no longer be a requirement for real estate funds and venture capital funds to submit financial reports to the CMB.

“We Will Not Tolerate Those Who Make Mistakes”

Stating that all necessary regulations for strengthening the fund ecosystem and raising sector standards will be swiftly implemented, Gönül said, “We will not tolerate those who make mistakes,” highlighting the importance of investor confidence. It was emphasized that measures for ensuring financial stability were discussed in meetings chaired by Minister of Treasury and Finance Mehmet Şimşek.