Interim payments totalling TRY 29.3 billion have reportedly begun for 235,705 investors in seven funds under extraordinary liquidation. The process covers funds established by Atlas, Pusula and Tera portfolio management companies.

Rules published on 27 October

Payments follow Law 7596 and the Capital Markets Board’s 27 October framework, which distinguishes interim from final distributions and sets priorities.

Investors found to have obtained improper excessive gains are excluded from interim payments. The process prioritises money-market funds and smaller holdings. An interim payment does not mean that every outstanding claim has been settled.