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土耳其政府已指派国内两大银行 İş Bankası 与国营 Ziraat Bankası,负责清算涉入投机泡沫破裂的 131 档投资基金。这些基金管理约 170 亿美元资产,牵涉超过 30 万名投资人。土耳其财政部长希姆谢克表示,问题区域已被有效隔离,受影响基金仅占整体基金市场的 10%,因此并不存在系统性风险,预计清算程序将耗时长达三个月。

为防止股市崩盘并避免被迫抛售,土耳其央行已向银行体系注入流动性,司法部门亦展开严厉执法,将四名主要嫌疑人拘捕候审,并对 51 人实施出境禁令与资产限制。司法部长严厉谴责此类以类似庞氏骗局侵害民众存款并进行不法操纵的行为。与此同时,基准 BIST 100 指数周线累计下跌约 8%,创下自 2025 年 3 月以来的单周最大跌幅。

市场分析指出,危机的核心根源在于部分基金在过去两年间高度集中持有关系企业股票以刻意推高净值,制造亮眼绩效吸引新资金涌入。直到主要资产管理公司 Pusula Portföy 爆发无法及时兑付赎回款项的危机后,恐慌的散户掀起挤兑赎回潮。资本市场监管机构已坦言基金估值存在过度膨胀问题,未来清算退款能回收多少金额仍面临高度不确定性。

Turkey has drafted two major banks, İş Bankası and state-owned Ziraat Bankası, to oversee the liquidation of 131 investment funds entangled in a speculative market bubble. These funds manage approximately $17 billion in investments across 300,000 investors. Finance Minister Mehmet Şimşek stated that the problematic sector has been quarantined and represents only 10 percent of the total fund market, asserting there is no systemic risk as the three-month liquidation process begins.

In an effort to prevent forced asset sales and cushion the broader market, Turkey's central bank provided emergency liquidity support to domestic banks, while judicial authorities remanded four key suspects in custody and imposed travel bans and asset freezes on 51 individuals. The justice minister denounced the schemes as Ponzi-like operations misleading the public, as the benchmark BIST 100 stock index dropped roughly 8 percent for the week, recording its steepest weekly plunge since March 2025.

Analysts trace the turmoil to a cohort of funds that engineered coordinated purchases in interconnected companies to artificially boost valuations and lure new retail capital. The unsustainable cycle abruptly reversed when leading asset manager Pusula Portföy failed to meet redemption requests, triggering widespread investor panic and a run on similar funds. While liquidators plan gradual asset disposals to reimburse holders, regulators acknowledged deep concerns over inflated historical valuations, clouding ultimate recoveries.

2026-09-20 (Sunday) · b005f7a7f6a42de842e3343ff92054f10829517b