21.11.2016 - Turkey Sovereign Fund - Details Revealed
Turkey has established its Sovereign Wealth Fund (Türkiye Varlık Fonu) and the Turkish Sovereign Wealth Fund Management Incorporation (Türkiye Varlık Fonu Yönetimi Anonim Şirketi), its asset management company. On November 9, the Council of Ministers' decree regarding the Asset Manager's operating principles(Decree) was published in the Official Gazette. The resources of the Sovereign Fund are: The institutions and assets within the scope of the privatization program, as well as the Privatization Fund's excess cash that the High Board of Privatization agrees to transfer to the Sovereign Fund; Surplus income, resources and assets at the disposition of public institutions and organizations that the Council of Ministers decides to transfer to the Sovereign Fund;.........................................Full Article: Source
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