Fund liquidation impact on real sector limited; Fitch flags securities firms
Turkish authorities ordered the liquidation of 131 investment funds suspected of manipulation and inflated prices, following an investigation that came after defaults of two asset managers in the week to Sept. 18, according to the source. Fitch Ratings said the turmoil's impact varies and flagged securities firms as most affected, while estimating that the Turkish banking sector's direct exposure to the affected funds is negligible. The Central Bank of the Republic of Türkiye (CBRT) said in a Wednesday blog that the current impact on the real sector remains limited, citing approximately 3,000 real sector firms holding a combined TL 116 billion in funds being wound up as of Sept. 15, 2026.
What it means for companies
- The CBRT said affected real-sector firms still have access to credit, and its Oct. 1, 2026 macroprudential actions to support macrofinancial stability and banks' liquidity management may help contain potential risks; details are set out in the source.
- The CBRT said the importance of fund investments varies from firm to firm, particularly for short-term risks, while the affected firms represent stated shares of real-sector assets, employment, turnover, exports and outstanding commercial loans.
- Fitch Ratings said securities firms, especially brokers, appear most affected; it estimated banks' direct exposure to the affected funds is negligible, though market volatility and customers' fund exposure could weaken asset quality in a way it describes as manageable.
Source: Daily Sabah (4 Nov 2026). This summary is for information only and is not tax, legal or investment advice.