Tera Portfoy extends redemption waiting periods for six funds
Turkey’s Tera Portfoy changed valuation and redemption terms for six funds, extending the time investors wait to receive proceeds from fund sales, the fund manager said late on Wednesday.
Turkey's Tera Portfoy said late on Wednesday it changed valuation and redemption terms for six of its funds, lengthening the time investors will have to wait to receive proceeds from fund sales. Under the revised rules, unit prices for the funds will be calculated once a month.