Important News/Developments

All the news/developments about Garanti and the banking sector.All the news/developments about Garanti and the banking sector.

For the attention all Ata Invest mutual fund investors

The application made by Ata Yatırım Menkul Kıymetler AŞ (Ata Invest) to convert its Type A Balanced Fund to a Long-Term Type B Balanced Fund and its Type B Private Portfolio Management Balanced Fund to a Type B Asset Management Service Balanced Fund was approved by the Capital Markets Board under license B.02.1.SPK.0.15- 390 dated 13 May 2009.

The changes in the funds’ internal regulations required for these conversions will be registered with the Trade Registry on 19 June 2009 and will go into effect as of the same date.

Details of the changes

  • The name “Type A Balanced Fund” has been changed to “Long-Term Type B Balanced Fund”. The name “Type B Private Portfolio Management Balanced Fund” has been changed to “Type B Asset Management Service Balanced Fund”.
  • The management fee of the Long-Term Type B Balanced Fund has been set at 0.010% (ten divided by one hundred thousand) per day. The management fee of the Type B Asset Management Service Balanced Fund has been set at 0.00165% (one point sixty-five divided by one hundred thousand) per day.
  • Instructions to sell back shares in the Long-Term Type B Balanced Fund that are forwarded no later than 13:30 hours on days when the İstanbul Stock Exchange Bonds & Bills Market is open will be fulfilled and paid to investors on the first trading day after the one on which the instructions are given. Instructions to sell back such shares that are forwarded after 13:30 hours on days when the İstanbul Stock Exchange Bonds & Bills Market is open or on holidays will be fulfilled and paid to investors on the second trading day after the one on which the instructions are given.
  • The minimum purchase order that investors may submit for shares in the Type B Asset Management Service Balanced Fund is 20,000,000 shares. Purchase instructions above this number are subject to no other conditions.
  • “İstanbul Gold Exchange”  and “Euroclear Bank SA/NV” have been added to the list of custodians that handle shares in the Type B Asset Management Service Balanced Fund.
  • Ata Portföy Yönetimi AŞ will continue to manage the portfolios of both funds.
  • Existing shareholders may resell any shares that they already hold in either fund to any concern that trades in them prior to the date on which the name changes go into effect. Shares that have not been returned before that date will automatically be converted to Long-Term Type B Balanced Fund or Type B Asset Management Service Balanced Fund shares as appropriate.
  • As of the date of this announcement and until the date on which the name changes go into effect (19 June 2009), neither the funds’ owners nor any concern involved in the trading of these funds’ shares may sell shares in either fund.