THF Hits Record Growth: Weekly Investor Numbers Spark a New Clash

In Turkey's asset management ecosystem, a striking competitive surge unfolded in weekly investor numbers.

THF’s Surge: 44,914 New Investors

■THF (Tera Portfolio Equity Fund (TL)) gained +44,914 new investors.

■Followed by DOH: +8,865; KHA: +5,507; DLY: +2,315; VFO: +1,920.

PBR’s Collapse: 15,945 Losses

■PBR (Pusula Portfolio First Variable Fund) lost -15,945 investors.

■Other declines: PHE: -11,501; LTL: -1,426; IJC: -1,301; DFI: -820.

Drivers of Investor Shift

■Rising equity volatility accelerated portfolio diversification.

■In uncertain economic times, risk-averse investors gravitated toward lower‑risk funds.

■PBR’s performance drop reflects a shift in market sentiment.

New Dynamics in Financial Markets

■These flows may trigger strategic restructuring by fund management firms.

■Short‑term liquidity needs became a decisive factor in fund selection.

■Improvement in macro indicators boosts demand for high‑performing funds.

Kerem Tufan: The rapid shift in investor behavior mirrors the contraction in SME lending and the slowdown in commercial credit growth. The surge in fund inflows signals increased market liquidity while also reshaping risk perception in the credit market. Tracking these dynamics is essential for understanding how macro‑prudential measures will impact the banking sector.