Mutual Funds

Access our broad range of mutual fund via ON, to easily give trading orders, and track your fund portfolio.

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Mutual funds are assets founded to manage portfolios of capital market instruments, gold and other precious metals based on fiduciary property and risk spreading principles, with the monies collected from investors.

Each investor becomes a partner in the fund by buying units representing part of the portfolio owned by the fund. Fund units are kept in custody in the name of the investor. Fund portfolios are managed by professional fund managers who continuously monitor the market, in accordance with the investment strategies stated in their by-laws, in order to maximize returns while considering balanced allocation of risk.

Mutual funds are in two types, being callable, and at-call, depending on the trading value date. at-call fund orders are realized on the same date at that day’s price.

For callable funds (traded with a value date), price of that day is indicative. Order realization (value) date and the price or realization of the order are determined by considering the “value date shift time” stated in relevant fund’s prospectus.

In callable funds, fund unit trade orders given by investors until the value date shift time are fulfilled at the unit price found in initial calculation after issuance of the order. Trade orders given after the value date shift time are considered given after the initial unit price calculation and fulfilled at the unit price found in the subsequent calculation.

Mutual funds accrete according to the accretion rule stated in the fund’s prospectus and/or fund by-laws. Otherwise, no accretion takes place.

Mutual funds do not offer any yield guarantee or principal protection. Consequently, the Public Disclosure Platform (KAP) and TEFAS (Turkish Electronic Fund Trading Platform), containing all information, notifications and investor announcements related to the fund must be reviewed before trading.

In fund trades over TEFAS, platform application principles and matching rules are applicable.

Investments are effectively managed by professional managers who continuously monitor and interpret the markets.

As the increase in value of fund portfolio is reflected daily on the fund price, investors can convert their investments in the fund into cash within the fund call-periods, together with accrued income.

Mutual fund returns and other information are available from distribution channels or newspapers, magazines and related internet sites in any frequency.

They allow investing in securities with high potential of earning, which cannot be accessed otherwise by small savings.

As securities are evaluated and controlled, and coupons, interests and dividends are collected by fund management, investors do not have to monitor terms or collections, which take time and resources.

Regarding Funds: Securities mutual funds are exempt from corporate and income tax.

Regarding fund investors: return of the units of securities mutual funds to the relevant fund are subject to withholding at 10% of the income for full and limited taxpayer real persons. Withholding rate is applied as 0% for full and limited taxpayer equity companies. No withholding is applied to income earned on disposal of units of mutual funds, the portfolio of which are continuously comprised, at least by 51%, of equities traded on BIST, after holding for more than one year. Withholding rate is applicable as %0 for equities-intensive funds. Equities-intensive funds are defined as mutual funds, the portfolios of which are at least 75% (excluding securities investment trusts’ shares), on monthly weighted average, comprised of equities traded on BIST, and exchange-traded funds. For real persons, no further annual tax return shall be filed for the income earned on return of the fund units to the fund. Upon filing of tax return for other income, such income shall not be included in such tax return. Fully fledged taxpayers subject to corporate tax are subject to corporate tax at 20% over such income. Any withholding paid shall be offset against the corporate tax.

Turkish Electronic Fund Trading Platform (TEFAS) is an electronic platform for trading in all mutual funds active in the capital markets, upon resolution of the Capital Markets Board. TEFAS has commenced operations on 09.01.2015.

TEFAS allows comparison of all funds from a single system, and offers access to all funds in the market, with a single investment account. It is operated by İstanbul Takas ve Saklama Bankası A.Ş. (Custody House).

All mutual funds founded by all portfolio companies are traded on TEFAS.

After logging-in on ON, and opening an investment account, you may easily trade in all mutual funds available on TEFAS, via ON, or ON Internet Branch, or Customer Contact Center, without paying extra fees or commissions.

Click here for TEFAS trading hours.

You may purchase the mutual funds of relevant institutions which are traded on TEFAS, from our branches, or ON Internet Branch, ON Mobile, or Contact Center. For the website of institutions, click on the institution name.