{"id":19833,"date":"2026-09-18T08:25:00","date_gmt":"2026-09-18T05:25:00","guid":{"rendered":"https:\/\/fxknews.com\/?p=19833"},"modified":"2026-09-18T08:26:26","modified_gmt":"2026-09-18T05:26:26","slug":"turk-piyasalarinda-fon-krizi-neden-olustu-130-fon-neden-tasfiye-ediliyor","status":"publish","type":"post","link":"https:\/\/fxknews.com\/?p=19833","title":{"rendered":"T\u00fcrk Piyasalar\u0131nda Fon Krizi Neden Olu\u015ftu, 130 Fon Neden Tasfiye Ediliyor?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Borsa \u0130stanbul&#8217;da 16 Eyl\u00fcl&#8217;de ya\u015fanan sert sat\u0131\u015flar\u0131n ard\u0131ndan yat\u0131r\u0131m fonlar\u0131 \u00fczerinden ba\u015flayan likidite krizi, sermaye piyasalar\u0131nda geni\u015f kapsaml\u0131 bir d\u00fczenleyici m\u00fcdahaleye d\u00f6n\u00fc\u015ft\u00fc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sermaye Piyasas\u0131 Kurulu (SPK), <strong>Tera Portf\u00f6y, Pusula Portf\u00f6y, Hedef Portf\u00f6y, Atlas Portf\u00f6y, A1 Portf\u00f6y, Pardus Portf\u00f6y ve Bulls Portf\u00f6y<\/strong> taraf\u0131ndan kurulan ve TEFAS&#8217;ta i\u015flem g\u00f6ren yat\u0131r\u0131m fonlar\u0131n\u0131n i\u015flemlerini durdurdu. Bu \u015firketlere ait toplam <strong>130 fonun tasfiye edilmesine<\/strong> karar verildi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tasfiye kapsam\u0131ndaki fonlar\u0131n b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fcn yakla\u015f\u0131k <strong>830-891 milyar TL<\/strong> seviyesinde oldu\u011fu ve y\u00fcz binlerce yat\u0131r\u0131mc\u0131y\u0131 ilgilendirdi\u011fi belirtiliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ancak ya\u015fananlar\u0131n merkezinde yaln\u0131zca fonlar\u0131n \u00f6deme problemi bulunmuyor. Hisse senetlerinde yo\u011funla\u015fan pozisyonlar, d\u00fc\u015f\u00fck halka a\u00e7\u0131kl\u0131k oranlar\u0131 ve olas\u0131 piyasa manip\u00fclasyonu iddialar\u0131 da soru\u015fturman\u0131n \u00f6nemli ba\u015fl\u0131klar\u0131 aras\u0131nda yer al\u0131yor.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">\u0130\u00e7indekiler<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/fxknews.com\/?p=19833\/#KRIZ_NASIL_BASLADI\" >KR\u0130Z NASIL BA\u015eLADI?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/fxknews.com\/?p=19833\/#SPKNIN_YENI_KURALLARI_KRIZI_TETIKLEDI\" >SPK&#8217;NIN YEN\u0130 KURALLARI KR\u0130Z\u0130 TET\u0130KLED\u0130<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/fxknews.com\/?p=19833\/#PUSULA_VE_TERADA_ODEME_SORUNLARI\" >PUSULA VE TERA&#8217;DA \u00d6DEME SORUNLARI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/fxknews.com\/?p=19833\/#MANIPULASYON_IDDIALARI_HANGI_HISSELERLE_ILGILI\" >MAN\u0130P\u00dcLASYON \u0130DD\u0130ALARI HANG\u0130 H\u0130SSELERLE \u0130LG\u0130L\u0130?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/fxknews.com\/?p=19833\/#FONLARDAKI_YOGUNLASMA_NEDEN_DIKKAT_CEKTI\" >FONLARDAK\u0130 YO\u011eUNLA\u015eMA NEDEN D\u0130KKAT \u00c7EKT\u0130?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/fxknews.com\/?p=19833\/#SISTEM_NEDEN_TERSINE_DONDU\" >S\u0130STEM NEDEN TERS\u0130NE D\u00d6ND\u00dc?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/fxknews.com\/?p=19833\/#130_FONUN_TASFIYESI_NE_ANLAMA_GELIYOR\" >130 FONUN TASFIYES\u0130 NE ANLAMA GEL\u0130YOR?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/fxknews.com\/?p=19833\/#KRIZIN_BUYUKLUGU_NE_KADAR\" >KR\u0130Z\u0130N B\u00dcY\u00dcKL\u00dc\u011e\u00dc NE KADAR?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/fxknews.com\/?p=19833\/#BIST_VE_TURKIYE_PIYASALARI_ICIN_YENI_DONEM\" >BIST VE T\u00dcRK\u0130YE P\u0130YASALARI \u0130\u00c7\u0130N YEN\u0130 D\u00d6NEM<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"KRIZ_NASIL_BASLADI\"><\/span>KR\u0130Z NASIL BA\u015eLADI?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Normal \u015fartlarda yat\u0131r\u0131mc\u0131 bir fona para yat\u0131rd\u0131\u011f\u0131nda portf\u00f6y y\u00f6netim \u015firketi bu sermayeyi hisse senedi, tahvil, mevduat ve benzeri varl\u0131klara y\u00f6nlendiriyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sorun ise baz\u0131 fonlar\u0131n <strong>halka a\u00e7\u0131kl\u0131\u011f\u0131 d\u00fc\u015f\u00fck ve i\u015flem hacmi s\u0131n\u0131rl\u0131 hisselerde \u00e7ok b\u00fcy\u00fck pozisyonlara ula\u015fmas\u0131yla<\/strong> belirginle\u015fti.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bir fondaki b\u00fcy\u00fck al\u0131mlar, piyasadaki s\u0131n\u0131rl\u0131 arz nedeniyle ilgili hissenin fiyat\u0131n\u0131 yukar\u0131 ta\u015f\u0131yabiliyor. Hisse fiyat\u0131ndaki y\u00fckseli\u015f fonun net varl\u0131k de\u011ferini art\u0131r\u0131yor ve fonun performans\u0131 daha y\u00fcksek g\u00f6r\u00fcnmeye ba\u015fl\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu performans yeni yat\u0131r\u0131mc\u0131lar\u0131n ilgisini \u00e7ekti\u011finde ise fona daha fazla para girebiliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ancak mekanizma tersine d\u00f6nd\u00fc\u011f\u00fcnde tablo tamamen de\u011fi\u015fiyor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SPKNIN_YENI_KURALLARI_KRIZI_TETIKLEDI\"><\/span>SPK&#8217;NIN YEN\u0130 KURALLARI KR\u0130Z\u0130 TET\u0130KLED\u0130<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">SPK&#8217;n\u0131n 28 A\u011fustos&#8217;ta fonlar\u0131n d\u00fc\u015f\u00fck halka a\u00e7\u0131kl\u0131k oran\u0131na sahip \u015firketlerdeki pozisyonlar\u0131n\u0131 s\u0131n\u0131rland\u0131ran yeni d\u00fczenlemeleri, sistemdeki dengesizli\u011fi g\u00f6r\u00fcn\u00fcr hale getirdi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Baz\u0131 fonlar\u0131n yeni limitlere uyabilmek i\u00e7in b\u00fcy\u00fck pozisyonlar\u0131n\u0131 azaltmas\u0131 gerekti.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu da \u00f6zellikle likiditesi d\u00fc\u015f\u00fck hisselerde sat\u0131\u015f bask\u0131s\u0131n\u0131 art\u0131rd\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hisseler d\u00fc\u015ft\u00fck\u00e7e fonlar\u0131n de\u011feri geriledi. Fon yat\u0131r\u0131mc\u0131lar\u0131 \u00e7\u0131k\u0131\u015f talebinde bulunmaya ba\u015flay\u0131nca portf\u00f6y y\u00f6netim \u015firketlerinin yat\u0131r\u0131mc\u0131lara \u00f6deme yapabilmek i\u00e7in daha fazla varl\u0131k satmas\u0131 gerekti.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">B\u00f6ylece:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Fon \u00e7\u0131k\u0131\u015flar\u0131 \u2192 Hisse sat\u0131\u015flar\u0131 \u2192 Fiyat d\u00fc\u015f\u00fc\u015fleri \u2192 Fon de\u011fer kayb\u0131 \u2192 Daha fazla fon \u00e7\u0131k\u0131\u015f\u0131<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u015feklinde bir d\u00f6ng\u00fc olu\u015ftu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu s\u00fcre\u00e7 k\u0131sa s\u00fcrede geleneksel bir <strong>likidite krizine<\/strong> d\u00f6n\u00fc\u015ft\u00fc.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PUSULA_VE_TERADA_ODEME_SORUNLARI\"><\/span>PUSULA VE TERA&#8217;DA \u00d6DEME SORUNLARI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Krizin en g\u00f6r\u00fcn\u00fcr hale geldi\u011fi \u015firketlerden biri Pusula Portf\u00f6y oldu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pusula taraf\u0131ndan y\u00f6netilen baz\u0131 fonlarda yat\u0131r\u0131mc\u0131lar\u0131n paylar\u0131n\u0131 iade etme taleplerinin zaman\u0131nda kar\u015f\u0131lanamamas\u0131, yani <strong>\u00f6deme temerr\u00fcd\u00fc<\/strong>, piyasalardaki endi\u015feyi art\u0131rd\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tera Portf\u00f6y&#8217;\u00fcn baz\u0131 fonlar\u0131nda da benzer \u00f6deme sorunlar\u0131 ortaya \u00e7\u0131kt\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fonlar\u0131n nakit yaratmak amac\u0131yla ellerindeki hisseleri satmak zorunda kalmas\u0131, \u00f6zellikle d\u00fc\u015f\u00fck likiditeli hisselerde fiyat hareketlerini daha da sertle\u015ftirdi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">16 Eyl\u00fcl&#8217;de BIST 100 endeksinin <strong>%5&#8217;in \u00fczerinde gerilemesi<\/strong> ve devre kesicinin devreye girmesi, krizin borsa geneline yay\u0131ld\u0131\u011f\u0131n\u0131 g\u00f6sterdi.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MANIPULASYON_IDDIALARI_HANGI_HISSELERLE_ILGILI\"><\/span>MAN\u0130P\u00dcLASYON \u0130DD\u0130ALARI HANG\u0130 H\u0130SSELERLE \u0130LG\u0130L\u0130?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">SPK&#8217;n\u0131n incelemelerinde <strong>Kat\u0131l\u0131mevim (KTLEV), G\u00fcndo\u011fdu G\u0131da (GUNDG) ve Destek Finans Faktoring (DSTKF)<\/strong> hisselerindeki i\u015flemler \u00f6ne \u00e7\u0131kt\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kurul, bu hisselerdeki i\u015flemler nedeniyle <strong>38 ki\u015fi hakk\u0131nda su\u00e7 duyurusunda bulunulmas\u0131na<\/strong> ve iki y\u0131l s\u00fcreyle i\u015flem yasa\u011f\u0131 uygulanmas\u0131na karar verdi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Burada \u00f6nemli bir ayr\u0131m bulunuyor:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu ki\u015filer ve \u015firketler hakk\u0131nda <strong>piyasa manip\u00fclasyonu iddialar\u0131 ve soru\u015fturmalar<\/strong> s\u00f6z konusu. Soru\u015fturma s\u00fcreci tamamlanmadan t\u00fcm taraflar\u0131n kesin olarak su\u00e7 i\u015fledi\u011fi sonucuna var\u0131lamaz.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FONLARDAKI_YOGUNLASMA_NEDEN_DIKKAT_CEKTI\"><\/span>FONLARDAK\u0130 YO\u011eUNLA\u015eMA NEDEN D\u0130KKAT \u00c7EKT\u0130?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Pusula Portf\u00f6y taraf\u0131ndan y\u00f6netilen baz\u0131 fonlar\u0131n Kat\u0131l\u0131mevim ve G\u00fcndo\u011fdu G\u0131da hisselerinde olduk\u00e7a y\u00fcksek pozisyonlara sahip oldu\u011fu g\u00f6r\u00fcld\u00fc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tera Portf\u00f6y taraf\u0131ndan y\u00f6netilen baz\u0131 fonlarda ise Destek Finans Faktoring hisselerinde y\u00fcksek yo\u011funla\u015fma bulunuyordu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu durum, \u015firketlerin d\u00fc\u015f\u00fck halka a\u00e7\u0131kl\u0131k oranlar\u0131yla birle\u015fti\u011finde piyasadaki ger\u00e7ek dola\u015f\u0131m miktar\u0131 \u00fczerinde \u00f6nemli bir etki olu\u015fturabiliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u0130\u015fte d\u00fczenleyici kurumlar\u0131n incelemelerinde kritik noktalardan biri de bu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bir fonun belirli bir hissede \u00e7ok b\u00fcy\u00fck paya ula\u015fmas\u0131, hem hissenin fiyat olu\u015fumunu hem de fonun de\u011ferlemesini etkileyebiliyor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SISTEM_NEDEN_TERSINE_DONDU\"><\/span>S\u0130STEM NEDEN TERS\u0130NE D\u00d6ND\u00dc?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Y\u00fckselen piyasa ko\u015fullar\u0131nda b\u00fcy\u00fck pozisyonlar fonlar\u0131n performans\u0131n\u0131 destekleyebilirken, yat\u0131r\u0131mc\u0131lar\u0131n ayn\u0131 anda \u00e7\u0131k\u0131\u015fa y\u00f6nelmesi tam tersine g\u00fc\u00e7l\u00fc bir sat\u0131\u015f bask\u0131s\u0131 yarat\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fon yat\u0131r\u0131mc\u0131s\u0131 paras\u0131n\u0131 \u00e7ekmek istedi\u011finde portf\u00f6ydeki varl\u0131klar\u0131n nakde \u00e7evrilmesi gerekiyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Likiditesi y\u00fcksek hisselerde bu i\u015flem g\u00f6rece kolay ger\u00e7ekle\u015febilir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ancak i\u015flem hacmi d\u00fc\u015f\u00fck bir hissede fonun elindeki b\u00fcy\u00fck pozisyonun sat\u0131lmaya \u00e7al\u0131\u015f\u0131lmas\u0131, fiyat\u0131 h\u0131zla a\u015fa\u011f\u0131 \u00e7ekebiliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fiyat d\u00fc\u015ft\u00fck\u00e7e fonun toplam de\u011feri azal\u0131yor ve di\u011fer yat\u0131r\u0131mc\u0131lar\u0131n da \u00e7\u0131k\u0131\u015f yapmak istemesiyle bask\u0131 b\u00fcy\u00fcyor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"130_FONUN_TASFIYESI_NE_ANLAMA_GELIYOR\"><\/span>130 FONUN TASFIYES\u0130 NE ANLAMA GEL\u0130YOR?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">SPK&#8217;n\u0131n karar\u0131yla Tera, Pusula, Hedef, Atlas, A1, Pardus ve Bulls Portf\u00f6y taraf\u0131ndan y\u00f6netilen toplam <strong>130 fonun tasfiye s\u00fcreci<\/strong> ba\u015flat\u0131ld\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tasfiye s\u00fcrecinde fonlar\u0131n sahip oldu\u011fu varl\u0131klar\u0131n belirlenen y\u00f6ntem \u00e7er\u00e7evesinde nakde \u00e7evrilmesi ve elde edilen tutar\u0131n yat\u0131r\u0131mc\u0131lar\u0131n fondaki paylar\u0131 oran\u0131nda da\u011f\u0131t\u0131lmas\u0131 bekleniyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu nedenle yat\u0131r\u0131mc\u0131lar a\u00e7\u0131s\u0131ndan bundan sonraki en \u00f6nemli konu, <strong>tasfiye y\u00f6nteminin nas\u0131l uygulanaca\u011f\u0131 ve varl\u0131klar\u0131n hangi de\u011ferler \u00fczerinden nakde d\u00f6n\u00fc\u015ft\u00fcr\u00fclece\u011fi<\/strong> olacak.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"KRIZIN_BUYUKLUGU_NE_KADAR\"><\/span>KR\u0130Z\u0130N B\u00dcY\u00dcKL\u00dc\u011e\u00dc NE KADAR?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Tasfiye kapsam\u0131ndaki fonlar\u0131n toplam b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fcn yakla\u015f\u0131k <strong>830 milyar TL ile 891 milyar TL<\/strong> aras\u0131nda oldu\u011fu y\u00f6n\u00fcnde farkl\u0131 hesaplamalar bulunuyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu fonlarda <strong>y\u00fcz binlerce yat\u0131r\u0131mc\u0131n\u0131n<\/strong> bulunmas\u0131, s\u00fcrecin yaln\u0131zca birka\u00e7 portf\u00f6y y\u00f6netim \u015firketiyle s\u0131n\u0131rl\u0131 olmad\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bununla birlikte yetkililer taraf\u0131ndan al\u0131nan \u00f6nlemler, mevcut problemin finansal sistemin tamam\u0131na yay\u0131lmas\u0131n\u0131 \u00f6nlemeye odaklan\u0131yor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"BIST_VE_TURKIYE_PIYASALARI_ICIN_YENI_DONEM\"><\/span>BIST VE T\u00dcRK\u0130YE P\u0130YASALARI \u0130\u00c7\u0130N YEN\u0130 D\u00d6NEM<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ya\u015fanan kriz, T\u00fcrkiye sermaye piyasalar\u0131nda <strong>likidite, halka a\u00e7\u0131kl\u0131k oran\u0131, fon yo\u011funla\u015fmas\u0131 ve de\u011ferleme mekanizmalar\u0131n\u0131n<\/strong> ne kadar kritik oldu\u011funu ortaya \u00e7\u0131kard\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00d6zellikle d\u00fc\u015f\u00fck halka a\u00e7\u0131kl\u0131\u011fa sahip hisselerde b\u00fcy\u00fck fon pozisyonlar\u0131n\u0131n olu\u015fturabilece\u011fi riskler yeniden g\u00fcndeme geldi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00d6n\u00fcm\u00fczdeki d\u00f6nemde SPK&#8217;n\u0131n tasfiye s\u00fcreci, devam eden soru\u015fturmalar ve fonlar\u0131n yat\u0131r\u0131mc\u0131lara kar\u015f\u0131 y\u00fck\u00fcml\u00fcl\u00fcklerinin nas\u0131l yerine getirilece\u011fi piyasalar\u0131n ana g\u00fcndem maddeleri aras\u0131nda olacak.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Krizin kal\u0131c\u0131 etkisi ise yaln\u0131zca mevcut fonlar\u0131n tasfiyesiyle s\u0131n\u0131rl\u0131 olmayabilir. Ya\u015fanan geli\u015fmelerin ard\u0131ndan <strong>fonlar\u0131n d\u00fc\u015f\u00fck likiditeli hisselerdeki pozisyonlar\u0131na, ili\u015fkili \u015firketlerdeki yat\u0131r\u0131mlara ve piyasa manip\u00fclasyonunu \u00f6nlemeye y\u00f6nelik kurallara<\/strong> ili\u015fkin yeni d\u00fczenlemelerin g\u00fcndeme gelmesi beklenebilir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">T\u00fcrkiye piyasalar\u0131 a\u00e7\u0131s\u0131ndan as\u0131l mesele art\u0131k yaln\u0131zca ya\u015fanan sat\u0131\u015f dalgas\u0131n\u0131n sona ermesi de\u011fil; <strong>fon piyasas\u0131nda g\u00fcvenin ve likiditenin nas\u0131l yeniden tesis edilece\u011fi<\/strong> olacak.<\/p>\n<p style=\"border-left:4px solid #3b82f6;padding:14px 16px;border-radius:6px;color:#cbd5e1;font-weight:normal;line-height:1.6\">\ud83d\udca1 <strong style=\"color:#93c5fd\">Bilgi Notu:<\/strong> Likidite, bir varl\u0131\u011f\u0131n fiyat\u0131 \u00e7ok bozmadan ve h\u0131zl\u0131 bi\u00e7imde nakde \u00e7evrilebilme kolayl\u0131\u011f\u0131d\u0131r. D\u00fc\u015f\u00fck likiditeli hisselerde az miktarda al\u0131m-sat\u0131m bile fiyat\u0131 sert oynatabilir; bu y\u00fczden b\u00fcy\u00fck fonlar i\u00e7in b\u00f6yle hisseleri satmak zorla\u015f\u0131r.<\/p><p style=\"border-left:4px solid #eab308;padding:14px 16px;border-radius:6px;color:#cbd5e1;font-weight:normal;line-height:1.6\">\ud83d\udcca <strong style=\"color:#fde047\">Piyasa Etkisi:<\/strong> Bu geli\u015fme, \u00f6zellikle d\u00fc\u015f\u00fck likiditeli hisselerde sat\u0131\u015f bask\u0131s\u0131n\u0131 art\u0131rarak Borsa \u0130stanbul\u2019da g\u00fcveni zedeleyebilir. Fonlardan \u00e7\u0131k\u0131\u015flar ve zorunlu sat\u0131\u015flar devam ederse, k\u0131sa vadede hisse piyasas\u0131nda oynakl\u0131k artabilir; bankac\u0131l\u0131k ve tahvil cephesinde ise risk i\u015ftah\u0131 bir miktar bask\u0131lanabilir.<\/p>","protected":false},"excerpt":{"rendered":"<p>Borsa \u0130stanbul&#8217;da 16 Eyl\u00fcl&#8217;de ya\u015fanan sert sat\u0131\u015flar\u0131n ard\u0131ndan yat\u0131r\u0131m fonlar\u0131 \u00fczerinden ba\u015flayan likidite krizi, sermaye piyasalar\u0131nda geni\u015f kapsaml\u0131 bir d\u00fczenleyici<\/p>\n","protected":false},"author":1,"featured_media":19843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","fxk_merge_backup":"","footnotes":""},"categories":[1],"tags":[41,5006,5007,65],"class_list":["post-19833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finansal-piyasalar","tag-bist100","tag-fon","tag-spk","tag-turkiye"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/19833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19833"}],"version-history":[{"count":3,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/19833\/revisions"}],"predecessor-version":[{"id":19937,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/19833\/revisions\/19937"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/media\/19843"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}