Turkey Wealth Fund

Türkiye Varlık Fonu Yönetimi Anonim Şirketi
Sovereign wealth fund
Founded August 2016 (2016-08)
Headquarters Ankara, Turkey
Key people
 CEO: * Recep Tayyip Erdoğan
President of Turkey
General Manager: Zafer Sonmez,
Deputy Board Manager: Berat Albayrak
Website www.turkiyevarlikfonu.com.tr/ Edit this on Wikidata

Turkey Wealth Fund (Turkish: Türkiye Varlık Fonu) is a sovereign wealth fund founded in August 2016 owned by Government of Turkey. The fund is operated with "Strategic Investment Plan", which was approved by the Cabinet.

On 6 February 2017, it is announced that Ziraat Bankası, TÜRKSAT, BOTAŞ, PTT, BİST, TPAO, Türk Telekom (6,68%), Eti Maden, Çaykur have been handed over to TVF. In addition to the companies, 3 billion liras worth Defense Industry Support Fund (Turkish: Savunma Sanayii Destekleme Fonu) were transferred to TVF for 3 months. The fund also has several lands in Antalya, Aydın, İstanbul, Isparta, İzmir, Kayseri and Muğla, which were previously owned by Treasury of Turkey. One day later Treasury stakes of Turkish Airlines (49,12%) and Halkbank (51,11%) also handed over to the fund.

2018 changes

On the 12th of September President Erdoğan sacked the entire management staff of Turkey's sovereign wealth fund and named himself chairman of the fund.[1][2] He also appointed Zafer Sonmez, formerly of Malaysia's government investment vehicle, as general manager.[3] Erdoğan's son-in-law Berat Albayrak was named as his deputy on the board of the sovereign wealth fund.[4]

Companies

CompanyEquity (TRY₺ billion)
BİST[5]
BOTAŞ[5]
Çaykur[5]
Eti Maden[5]
Halkbank (51,11%)[6]11.5 (2012)[7]
TCDD İzmir Port (tr) (pending handover)[8]
Kayseri Şeker (10%)[8]
PTT[5]
TPAO[5]21.529 (2016)[9]
Türk Telekom (6,68%)[5]26.874 (2016)[10]
TÜRKSAT[5]2.697 (2017)[11]
Turkish Airlines (49,12%)[6]73.129 (2018)[12]
Türkiye Denizcilik İşletmeleri (tr) (49%)[8]
Ziraat Bankası[5]13.540 (2011)[13]

Licenses:

References

  1. ↑ "Erdogan takes wheel of Turkish wealth fund". Retrieved 2018-09-13.
  2. ↑ "Erdogan Names Himself Turkey Wealth Fund Chairman in Shakeup". www.bloomberg.com. Retrieved 2018-09-13.
  3. ↑ "Erdogan Names Himself Turkey Wealth Fund Chairman in Shakeup". www.bloomberg.com. Retrieved 2018-09-13.
  4. ↑ "Erdogan takes control of Turkey's sovereign wealth fund". Financial Times. Retrieved 2018-09-13.
  5. 1 2 3 4 5 6 7 8 9 "Ziraat Bankası, BOTAŞ, TPAO, PTT ve BİST, Türkiye Varlık Fonu'na devredildi". BBC Türkçe. 5 February 2017. Retrieved 11 February 2017.
  6. 1 2 "THY ve Halkbank da Varlık Fonu'na devrediliyor". BBC Türkçe. 6 February 2017. Retrieved 11 February 2017.
  7. ↑ "Consolidated Balance Sheet" (PDF). 31 December 2012.
  8. 1 2 3 4 5 "Portföy". turkiyevarlikfonu.com.tr (in Turkish). Retrieved 10 June 2018.
  9. ↑ "Aylık Bilanço" (PDF). Retrieved 10 June 2018.
  10. ↑ "CONSOLIDATED FINANCIAL REPORT 2016" (PDF). Türk Telekomünikasyon A.Ş.
  11. ↑ "Faaliyet Raporu" (PDF). Retrieved 10 June 2018.
  12. ↑ "TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI VE BAĞLI ORTAKLIKLARI" (PDF). Retrieved 10 June 2018.
  13. ↑ "ANNUAL REPORT 2011" (PDF). Türkiye Cumhuriyeti Ziraat Bankası. Retrieved 2012-06-17.
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