Tera Portfolio's Funds Have Defaulted: Its Chairman Issued a Statement Emphasizing 'Erdoğan' and 'Speculation'.
11 Articles
11 Articles
At the end of the day the stock market crashed, two of Tera Portfolio's funds defaulted, while the payment period for six funds was extended to the 10th business day. Following the KAP (Public Disclosure Platform) announcement, Tera Holding Chairman Emre Tezmen made a statement emphasizing President Erdoğan. Tezmen stated, "Immediately after undertaking this historic responsibility on behalf of our nation and financial system, we have been subje…
Tera Portfolio announced to the Public Disclosure Platform (KAP) that defaults have occurred in the redemption payments of investor shares in two of its funds. The company stated that the reconciliation and liquidity management process with brokerage firms is ongoing, and that the calculation and redemption principles for shares in both funds have been changed.
At the end of the day the stock market crashed, two of Tera Portfolio's funds defaulted, while the payment period for six funds was extended to the 10th business day. Following the KAP (Public Disclosure Platform) announcement, Tera Holding Chairman Emre Tezmen made a statement emphasizing President Erdoğan.
Following the default announcement at Pusula Portfolio, Tera Portfolio also reported defaults on unit redemption payments for its Money Market (TL) Fund and Equity Fund. The company announced changes to the exit conditions for six open-source funds (TLY, DOH, TMV, TMM, TRU, and T3B), stating that fund prices will be calculated monthly and payments will be made on the 10th business day. Tera Holding Chairman Emre Tezmen described the situation as…
In line with the Capital Markets Board's decision, the share price of Tera Portfolio's Fourth Equity Free (TL) Fund, which is experiencing liquidity problems, has been reduced to once a month, while payment periods have been extended to 10 business days. Tera Holding Chairman Emre Tezmen argued that the situation stemmed from a speculative attack.
The frequency of calculating the unit share value in Tera Portfolio Fourth Equity Free (TL) Fund has been reduced to once a month. Tera Holding Chairman Emre Tezmen stated that the current situation is merely a "temporary liquidity shortage."
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