The Capital Markets Board of Türkiye has explained the rationale and preparatory work behind its Aug. 28 investment fund guide changes. The measures address systemic risks linked particularly to money market funds and equity hedge funds, including unsecured related party borrowing and unusual price movements in low free float shares that could not be explained by economic conditions or company fundamentals. The guide also seeks to protect investor savings, constrain manipulation through funds and increase transparency. The changes form part of a broader set of macroprudential measures developed after the Financial Stability Committee considered the risks in December 2025. Supporting actions raised the qualified investor financial asset threshold from TRY 1 million to TRY 10 million, revised the settlement arrangements for the Türkiye Electronic Fund Trading Platform and required exchange traded real estate and venture capital investment fund units held in fund portfolios to be valued at net asset value rather than their exchange price. The latter change was intended to prevent fictitious fund valuations. The board finalized the guide after consulting market infrastructure providers, industry representatives, public bodies and investors. Fund managers have been given transition periods for compliance, and the board will monitor developments at both the individual portfolio management company and sector levels.

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