CMB Changed the Principles of Investment Funds

CMB Changed the Principles of Investment Funds The CMB changed the principles of investment funds. Amendments to the Communiqué on Financial Reporting Principles of Mutual Funds entered into force. The amendments made by the Capital Markets Board (CMB) to the Communiqué on Financial Reporting Principles of Mutual Funds were published in the Official Gazette and entered into force. Within the framework of the amendment, an article included in the portfolio valuation principles section regarding price reports of the communiqué was revised. According to the amendment, shares that are traded on the stock market, but not traded on the valuation day, will be valued at the stock market price on the last transaction date, and debt instruments internal rate of return. The valuation of reverse repo and repo and domestic organized money market transactions will be made at the internal rate of return of the transaction until the end of maturity. In the previous communique, reverse repo and repos were valued with the internal rate of return on the last trading day. There was no provision regarding the valuation of domestic organized money market transactions.   Change in Special Provisions Regarding Real Estate and Venture Capital Investment Funds The special provisions on real estate investment funds and venture capital investment funds of the Communiqué were also amended. With the aforementioned amendment, if requested by the investors, the information explaining the developments during the period will be added to the financial reports and the valuation reports prepared in accordance with the relevant regulations of the board regarding real estate investments for real estate investment funds and venture capital investment funds will be presented to the investors. Valuation reports will not be subject to independent audit. In addition, the value of venture capital investments in the portfolio and investments made in companies residing abroad will be determined within the scope of the Communiqué on Principles Regarding Venture Capital Investment Funds. Accordingly, if the price is announced more than once in an accounting period, it will be sufficient to review the value determined at the end of the year with the same procedures. The final values ​​determined for venture capital investments will be used in price reports. In addition, with this regulation, the statements "Real estate investment funds and venture capital investment funds are exempt from public disclosure, announcement and notification obligations."