Information Note on Investment Funds and Investors’ Rights

In light of recent developments in the financial and capital markets, it is important to clarify the legal nature of investment funds and the protections afforded to investors.

Under capital markets legislation, investment funds are pools of assets without separate legal personality and are subject to robust statutory safeguards. Investors’ fund units are monitored in book-entry form, while all assets in the fund portfolio are held with Takasbank or independent custody institutions authorised by the Capital Markets Board of Türkiye (“CMB”), entirely separate from the assets of the fund’s founder and manager.

As a result of this asset-segregation principle, any administrative, legal or financial issue affecting the fund management company—including bankruptcy or attachment proceedings—does not, in itself, mean that investors’ fund units cease to exist or automatically become exposed to the management company’s liabilities. If a fund is liquidated for any reason, the amount payable to each investor is determined independently of the fund management company’s debts, based on the value realised by the fund assets during the liquidation process and the number of fund units held by that investor.