Private Fund Setup and Management

What is a Private Investment Fund?

Katılma payları önceden belirlenmiş özel kişi ve/veya kurumlara tahsis edilen ve Portföy Yönetim Şirketi tarafından kurulan fonlar ‘**Özel Fon**’ olarak adlandırılır. Özel fonun yatırım stratejisi ve yatırım yapacağı ürün grupları fon izahnamesinde açıkca belirtilir.

Who is a Private Fund suitable for?

Private Fund is a suitable investment tool for individuals and institutions who have a certain amount of assets and want to evaluate these assets in the long term perspective.

  • Individuals, families, family businesses
  • Institutions, Company Partners, Managers, Employees
  • Foundations, Associations and Unions
  • Professional Groups, Sectoral Investors

What are the advantages of private funds?

Personalized

A private fund is established with an investment strategy that will be determined according to the investor's risk and expectations. One of the greatest advantages of the fund is the ability to implement different investment strategies under a single fund umbrella and the ability to change the strategy according to market conditions if desired.

Professional Management

The private fund is managed by Azimut Portföy's experienced and expert portfolio management team.

Privacy

The names of the investors of the private fund are not required to be disclosed to the public, and only notification to the SPK (Turkish Capital Markets Board) is required at the time of establishment.

Liquidity

Private fund shares can be converted into cash at any time and in any desired amount subject to returning to the fund. Requests received within the notice periods specified in the fund prospectus are converted into cash with the best efforts of the issuer.

Tax (General)

All income from private funds (without issuing a statement) is taxed at the source with a withholding tax of 0-10% according to the type of fund.

How are private funds taxed?

In investment funds, taxation is deducted at source through withholding tax. Therefore, there will be no addition to the income tax base with the advantage of a statement for investment fund income. The only source of tax is the withholding tax.

Investment fund withholding tax is deducted at the time of fund liquidation. Therefore, after entering the fund, there is an opportunity to obtain significant funding income by delaying the accumulated withholding tax without liquidating the fund.

How do we create a private fund at Azimut Portföy?

  • Azimut Portföy will apply to the SPK (Turkish Capital Markets Board) to obtain permission to establish a private investment fund under the umbrella fund platform. After approval, Azimut Portföy will be the founder and manager of the fund. It may take approximately 2 months for the fund to be established (from application to SPK approval). The fund will be regulated by the SPK.
  • The private fund (example name: Azimut Portfolio Management... Fund) will be established as a Variable Fund or Free Fund and will invest flexibly in different asset classes, thus avoiding the asset/sector restrictions of the SPK.
  • The official custodian of the fund and the fund service unit will be Turkey Is Bank.
  • The participation shares of the private fund will be held in custody accounts opened in the name of the participants by Azimut Portfolio Management at Is Bank.
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