SAFAKNA TURKEY – The Turkish Welfare Fund (TVF) is preparing to support the stock market with purchases from its own resources as the latest tier of initiatives to support equities in the wake of the February 6 earthquake.
According to Kerim Karakay and Chagan Koch news from Bloomberg; TVF will raise at least $1 billion from companies under its management and invest this resource in Ziraat Portfolio Exchange Traded Funds (ETFs).
TVF WILL SUPPORT THE EXCHANGE OF ITS FUNDING FACILITY
The move is a continuation of a series of practices announced before the opening of the stock market, which was closed after the earthquakes. The government first increased the stock market share of funds in the portfolio of public contributions to the Private Pension System from 10 percent to 30 percent to prevent pressure from selling shares.
Ziraat Portfolio has not commented on this topic. Turkey’s wealth fund did not respond to requests for comment.
TVF support may outperform other steps taken in terms of size.
In the intervening period, domestic individual investors became the dominant force in the stock market, which they saw as a hedge against inflation, and made the Borsa Istanbul 100 index the fastest growing stock market in the world in 2022.
EXCHANGE MUTUAL FUNDS
One of the sources said that the initial size of the fund, which will realize the investment, will be determined after companies such as Turkish Airlines, which are managed by TVF, announce their balance sheets for 2022. The same source also said that the cash pool could gradually increase from its estimated initial size of $1 billion.
Ziraat Portfolio has many ETFs following Borsa Istanbul. Some only track indexes that include large stocks, such as the BIST 30 index.
Random Post
- Zelensky: More than 10 million Ukrainians were left without electricity
- Early diagnosis of diseases is important! – Last minute Turkey and world news
- Deputy Ministry of Public Education Askar at the conference on early development in Uzbekistan – News details
- Oil prices have dropped! – Last minute Turkey and world news
- Last news! Contract personnel from the AK party and the EYT statement
- “After Cerrahpaşa Medicine, a decision was made to evacuate the state hospital Kağıthane”
- The most useful plant in the world – Last Minute Turkey and world news
- Microplastics found in canned fish
- Gasoline Discount Coming – Last Minute Turkey & World News
- Conference “Past and Present of South Azerbaijan” in Germany – News Details