Tera Portfoy changes redemption terms for six funds

Tera Yatirim Menkul Degerler

17/09/2026 05:32

ISTANBUL, Sept 17 (Reuters) - Turkey's Tera Portfoy changed valuation and redemption terms for six of its funds, significantly extending the time investors will have to wait to receive proceeds from fund sales, the fund manager said late on Wednesday.
Under the new rules, unit prices for the funds will be calculated once a month on the 15th day of each month, instead of every business day, Tera said. 
Redemption orders will continue to be accepted daily but investors will receive payment on the 10th business day following the valuation date, the statement said.
Previously, the funds calculated unit prices every business day and paid redemption proceeds within two or three business days, depending on the fund.
Tera Portfoy said the changes were intended to help manage portfolio liquidity risk, ensure redemption requests can be met in an orderly manner and prevent the sale of portfolio assets under market conditions that could be detrimental to investors.

 (Reporting by Ezgi Erkoyun; Editing by Christian Schmollinger)
 ((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))