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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Turkey’s sovereign wealth fund to support economy

Posted on 04 August 2016

Turkish Prime Minister Binali Yildirim sent a bill on creating a sovereign wealth fund to parliament after his cabinet’s approval, according to a copy of the draft obtained by Bloomberg on Aug. 2. This was done to stabilize markets and fund infrastructure projects in the wake of a coup attempt.
The proposal allows the government to establish a wealth management company called Turkiye Varlik Yonetimi AS with a capital injection of 50 million liras ($17 million), to be financed from the state Privatization Fund. That company would create another entity, Turkiye Varlik Fonu, or Turkey Wealth Fund TVF, and other funds as it sees necessary, according to the draft………………………………………..Full Article: Source


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