The Communiqué Amending the Communiqué on the Principles Regarding Portfolio Management Companies and the Activities of These Companies entered into force after being published in the Official Gazette dated 18 February 2023 and numbered 32108.
The communiqué issued by the Capital Markets Board entered into force as of the date of its publication. With the amendment, two different definitions as Sub-Portfolio Management and Full-Time were added to the communiqué published in the Official Gazette dated 2 July 2013 and numbered 28695.
In addition, it was stipulated that the initial capital of portfolio management companies should be at least 30 million Turkish Liras. This amount was 7 million 500 thousand Turkish Liras before the change. Again, the minimum initial capital limit of 3 million 750 thousand Turkish Liras in portfolio management companies with limited activities was increased to 15 million Turkish Liras.
According to the size of the managed portfolio, the equity capital of the company with a size of less than 1 billion Turkish Liras should be at least 100 million Turkish Liras, and the equity capital of the company exceeding 36 billion Turkish Liras, starting from at least 30 million Turkish Liras, and increasing according to the size. determined.
Several changes were made regarding the decentralized organizations of portfolio management companies and the duties and responsibilities of the internal control staff.
The change in the communiqué was announced to the public as a press release on the official website of the Capital Markets Board. The provisions of the Communiqué will be implemented by the Capital Markets Board.
For details, see:
https://spk.gov.tr/duyurular/basin-duyurulari/portfoy-yonetim-sirketleri-teblig-degisikligi-basin-duyurusu
