Turkish Funds With $7.5 Billion Assets Default on Redemption
Tera Portfoy Yonetimi AS announced that two of its funds, totaling $7.5 billion in assets, failed to meet redemption requests. This marks the second instance of a Turkish asset manager defaulting on fund redemptions this week.
Tera Portfoy Yonetimi AS said two of its funds with a combined 366 billion liras ($7.5 billion) in assets failed to meet redemption requests, making it the second Turkish asset manager to announce defaults on some funds this week.
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