Tugce Ozsoy

Turkey’s fund-industry crisis is inflicting some of its heaviest losses on smaller, less-liquid stocks, widening a divide with large-cap names that have benefited from regulatory support.

Turkish stocks are on course to enter a bear market after the recent fund crisis erased billions of dollars from Istanbul-listed firms.

BofA Securities Inc said a large share of Turkish fund outflows stemming from a rout in September moved into bank deposits.

Turkish prosecutors asked lenders to hand over assets of the ruling party’s former deputy chair in the course of a funds-rout investigation that’s reached the top of President Recep Tayyip Erdogan’s political establishment.

The crisis roiling Turkey’s investment industry may be spilling into its fast-growing corporate bond market, potentially crimping smaller companies’ access to financing.

Long before Tera imploded, suspicious trading had begun to alarm executives, investors and regulators

Turkey’s market regulator has shut down three brokerages that ran funds now set to be liquidated, throwing hundreds of jobs in doubt and adding to the turmoil in the industry.

Long before Tera imploded, suspicious trading had begun to alarm executives, investors and regulators

Turkey’s market regulator raised the threshold for qualified investors fivefold in the wake of a fund rout that rocked capital markets and erased billions of dollars of equity value.

Turkey’s market authorities canceled Tera Yatirim Menkul Degerler’s license and suspended trading on its stock, part of a continued dismantling of the brokerage at the heart of the country’s fund crisis.