Capital Markets Board ( CMB), Turkey Electronic Fund Trading Platform ( TEFAS) and Private Pension Fund Trading Platform ( BEFAS) announced that its operations were suspended.
National mourning was declared across the country due to the 7.7 and 7.6 magnitude earthquakes in Kahramanmaraş. This great disaster mobilized the whole country. While aids and donations for the earthquake area continue, new moves continue to come in the markets after the earthquake. Another move came from the CMB after Borsa Istanbul stopped the transactions. CMB stopped its investment and pension fund operations.
CMB Suspends Transactions of TEFAS and BEFAS
According to the announcement made by the Capital Markets Board (CMB), transactions in mutual funds and pension funds were temporarily suspended.
CMB, which wants millions of people affected by the earthquake in Kahramanmaraş not to be victimized by the stock market and markets, decided to stop the transactions of the Turkish Electronic Fund Trading Platform (TEFAS) and Private Pension Fund Trading Platform (BEFAS).
Commenting on the subject CMB, TEFASHe said the following about the suspension of the proceedings;
“Borrowing instruments umbrella fund, money market umbrella fund, guaranteed/protective umbrella fund, funds issued under the precious metals umbrella fund, hedge funds with the phrases Foreign Exchange, money market and short-term in their titles, and funds with the phrase foreign in their titles, It has been found appropriate for the funds affiliated to the umbrella fund to not calculate the unit share value and stop the trading of participation shares, except for the funds with a certain asset group (lease certificate, gold, precious metals, money market) in their titles. In this context, TEFAS transactions of these funds were also suspended.
Also known as pension funds BEFASalso making a statement for CMB, said;
“For mutual funds and pension mutual funds whose share buying/selling operations have been suspended, the first day of the market opening will be considered as the valuation date in the execution of share purchase/sell orders, the valuation date of which is 8 February.”
