Turkey's Capital Markets Board has introduced new rules restricting how much hedge funds can allocate to concentrated positions and to counterparties with related-party ties. The move targets what regulators describe as abnormal return patterns, with a secondary concern around market manipulation. Specific thresholds for the caps have not been publicly disclosed.
Tighter position limits force funds already running concentrated books to sell down holdings, which can pressure Turkish equities in the near term. Foreign allocators evaluating Turkish markets will weigh this regulatory tightening as an additional friction cost, which tends to narrow the pool of institutional capital willing to enter.
No fixed date: watch for the Capital Markets Board's official gazette publication detailing specific concentration thresholds. Also watch Turkey's next monthly foreign portfolio flow data, typically released 4-6 weeks after month-end.
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