Regulatory Alerts2014-07-24
Added · Updated
Communiqué on Real Estate Investment Funds (III-52.3)
This Communiqué regulates the establishment, operation, and termination of real estate investment funds in Turkey, defining them as asset pools managed by licensed portfolio management companies. It mandates that fund units be sold exclusively to qualified investors and requires Board approval for fund rules and issue documents, with specific timelines for application processing and registration. The document establishes segregation of fund assets, outlines the organizational structure and experience requirements for founders, and sets forth rules for portfolio management, safekeeping, and the calculation of fund unit values.
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