A Turkish asset management company manages investors' money through funds licensed and supervised by the Capital Markets Board (CMB). This page explains how it works, how investors are protected and where to start with real estate and venture capital funds.
The asset management company is the founder and manager of a fund: it drafts the fund bylaws, obtains CMB approval, makes investment decisions, monitors risk and reports to investors.
Defines the fund's purpose, investment limits and subscription and redemption rules in the bylaws and issuance document, then applies to the CMB.
Licensed portfolio managers buy and sell assets within the limits written in the bylaws.
The unit price is calculated regularly; financial statements and material events are published on KAP, the public disclosure platform.
Internal control, risk management and audit functions check that the fund is run in line with the law and its bylaws.
| Safeguard | How it works |
|---|---|
| CMB licence and supervision | The company operates under a CMB licence; the CMB inspects it and can revoke the licence. |
| Segregated assets | Fund assets are separate from the manager's assets and cannot be seized for the manager's debts. |
| Independent custodian | Cash, securities and rights are held by an independent custodian (a bank or brokerage). |
| Audit and valuation | Fund accounts are independently audited; real estate is valued by CMB-licensed valuation firms. |
| Public disclosure | Bylaws, issuance documents, reports and prices are public on KAP. |
| Fund | Invests in | For | Guide |
|---|---|---|---|
| REIF (GYF) – real estate investment fund | Income-producing buildings, land, real-estate rights | Property owners, families, institutions | What is a REIF? |
| Project REIF (PGYF) | Residential, office and commercial projects under development | Developers, contractors, project partners | What is a PGYF? |
| VC fund (GSYF) – venture capital investment fund | Growth companies and start-ups | Profitable companies, holdings, family offices | What is a GSYF? |
Units in these funds are sold to qualified investors. A fund can be tailored to one family, one corporate group or one project.
Foreign investors can also obtain Turkish citizenship by investing USD 500,000 in a REIF or VC fund and holding the units for three years. Citizenship through a fund
More: VC fund tax benefits · Tax planning with funds · Bylaws and issuance document
FT Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi A.Ş. is a CMB-licensed asset manager in Istanbul focused exclusively on alternative investment funds (REIF, project REIF and VC funds). Türkçe
A broker executes buy and sell orders for clients. An asset management company sets up funds and makes the fund's investment decisions with its own licensed team.
Fund assets are separate from the manager and held by the custodian. If the manager stops operating, the CMB can transfer the fund to another manager, or the fund is liquidated and its value paid to investors.
Units are sold to qualified investors: institutions, companies and individuals who meet the wealth threshold in the regulations.
Yes. Foreign individuals and companies can buy fund units; a USD 500,000 investment held for three years also qualifies for Turkish citizenship.
Unit prices and reports are published on KAP; prices of funds traded on TEFAS are also shown there.
Related guides: What is a REIF? · What is a GSYF? · What is a project REIF? · Turkish citizenship through a fund
This page is general information, not an investment offer or investment, tax or legal advice. Tax law can change; please confirm your own position with a tax adviser. Fund units carry risk and their value may go up or down; past performance is not a guarantee of future results.
Sources: Capital Markets Board of Türkiye · Public Disclosure Platform (KAP) · TEFAS.
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